KGC Capital will back former Virgin Digital executives Zack Zalon and Brendon Cassidy, as they co-founded Elevator Labs, a fund incubator for new media companies. The company’s portfolio includes Hello Music, Wilshire Media Group and Fat Cloud.
4 min read · 11 August 2011
BFG Supply Company, the Ohio-based provider of turf, horticultural and lawn & garden supplied to retail centers, will acquire assets of Virginia-based Wetsel Inc., a similar company. BFG Supply Co. is a portfolio company of Tricor Pacific, the Chicago- and Vancouver-based private equity firm. Tricor invested from its fourth fund, which the PE firm closed with $555 million.
1 min read · 10 August 2011
Tricor Pacific Capital Partners Fund IV, the Chicago- and Vancouver-based private equity firm, exited its provider of utility damage prevention services firm, Consolidated Utility Services, selling it to OMERS Private Equity. Specifics were not disclosed; Tricor acquired the company in 2007. The value created over the life of the CUS investment has resulted in an IRR of 28% and a cash-on-cash return of over 2.5x for Tricor's investors.
2 min read · 10 August 2011
John Serafini will join Boston-based investment firm Allied Minds, which focuses on commercializing early-stage technologies. Serafini has spent four years as a principal with Good Harbor Consulting, where he worked with Richard Clarke, the former senior White House Advisor. There, Serafini worked as a venture capital/growth equity investor.
3 min read · 10 August 2011
Accel Partners, Mayfield Fund and North Bridge Venture Partners joined lead investor Ignition Partners to provide Couchbase a $14 million Series C fundraising investment. Another $1 million has been reserved from strategic partners and customers. The funding will be used to continue product development and international expansion.
2 min read · 10 August 2011
4 min read · 10 August 2011
3 min read · 10 August 2011
Palo Alto Networks, a network security firm, will add PwC vet and former McAfee Chairman Chuck Robel to its board of directors. His experience covers governance, accounting, M&A and tech strategy. Palo Alto Networks is backed by VCs including Greylock, Sequoia, Globespan, Northgate Capital and Jafco Ventures.
2 min read · 09 August 2011
Demand Media, the California-based, listed online advertising company, acquired a pair of companies, it announced Tuesday. The company acquired Los Angeles-based IndieClick, an online advertising company, and RSS Graffiti, an advertiser that primarily engages consumers via Facebook. Double M Capital was the financial adviser and Sullivan & Triggs was the legal adviser to IndieClick in the transaction with Demand Media. Specifics on each deal were not publicized.
6 min read · 09 August 2011
Harbinger Group, the listed holding company run by Philip Falcone, has raised $400 million in private stock issuances with funds affiliated with Fortess Investment Group, Providence Equity Capital Markets, Wilton Re Holdings, JHL Capital Group, DDJ Capital Management and Luxor Capital Group. Harbinger Group has raised $900 million over the last nine months.
3 min read · 09 August 2011
