Toast said July 24 that it acquired StratEx. Financial terms weren’t announced. StratEx provides HR and payroll software for restaurants. In April, Toast raised $250 million in VC funding. Bill Mone, Amanda Holt and Aaron Harsh of Ropes & Gray advised Toast.
2 min read · 19 November 2019
The Charles Schwab Corporation has agreed to acquire acquire assets of USAA’s Investment Management Company, including brokerage and managed portfolio accounts. The purchase price is $1.8 billion. Credit Suisse Securities (USA) LLC was financial adviser to Charles Schwab with Davis Polk & Wardwell LLP providing legal advice. And, Goldman Sachs was financial adviser to USAA while Simpson Thacher & Bartlett LLP acted as legal adviser.
5 min read · 19 November 2019
The London Stock Exchange is in talks to merge with Refinitiv, the provider of financial markets data that’s owned by Blackstone and Reuters, the Financial Times reported July 26. Financial terms weren’t disclosed. Blackstone acquired a 55 percent stake in Thomson Reuters’ Financial & Risk business in 2018. The deal valued the total F&R business at $20 billion, Reuters said.
1 min read · 19 November 2019
Thomson Reuters confirmed July 26 that it and Blackstone are in talks to sell Refinitiv to the London Stock Exchange Group plc for about $27 billion. The deal would result in Thomson Reuters holding a roughly 15 percent stake in Refinitiv, a producer of financial data. Blackstone acquired a 55 percent stake in Refinitiv in 2018.
2 min read · 19 November 2019
Oaktree Capital Management LP has agreed to acquire a minority stake in Singular, a Chilean-based asset management firm and placement agent. No financial terms were disclosed.
2 min read · 19 November 2019
TA Associates is buying a majority of Wealth Enhancement Group from Lightyear Capital. Financial terms weren’t announced. Wealth Enhancement, of Plymouth, Minnesota, is a wealth management firm that oversees $11.8 billion in client assets. Raymond James provided financial advice to Wealth Enhancement Group.
5 min read · 19 November 2019
Clayton, Dubilier & Rice said July 30 that it completed the sale of Tranzact to Willis Towers Watson for $1.3 billion.
2 min read · 19 November 2019
London Stock Exchange Group plc agreed Aug. 1 to buy Refinitiv, a financial data provider, for about $27 billion. The deal will result in Refinitive shareholders, including Blackstone and Thomson Reuters, owning about 37 economic interest and less than 30 percent of total voting rights of the LSEG.
10 min read · 19 November 2019
J.C. Flowers & Co LLC said Aug. 1 that it sold Acuon Capital to Baring Private Equity Asia. Financial terms weren’t announced. Acuon, of Seoul, is a consumer finance and leasing company with a $3.9 billion total loan portfolio and 335,000 customers.
3 min read · 19 November 2019
PCS Retirement LLC, which is backed by LLR Partners, has acquired Aspire Financial Services, a provider of smart retirement solutions, serving advisers, plan sponsors and third-party administrators. No financial terms were disclosed.
3 min read · 19 November 2019
