Private Equity
Staple Street Capital, the New York middle-market private equity firm, said that an affiliate acquired substantially all of the assets of Mid-States Supply Co, the Kansas City, Missouri, distributor of industrial valves, pipe, automation products, fittings, steam specialty items and controls. Terms weren’t disclosed. The deal was done via a stalking-horse bid in U.S. Bankruptcy Court, the firm said. Kirkland & Ellis was legal adviser to Staple Street Capital. Staple Street is currently investing out of a $265 million PE fund. It typically seeks to invest $15 million to $75 million of equity per transaction.
2 min read · 20 April 2016
1 min read · 19 April 2016
Scandy, the New Orleans developer of software to enable users to capture, share and print 3D content from mobile devices, said it raised $1 million in a seed round led by Callais Capital with angel investors from Louisiana, Maryland and Texas. In a statement, Scandy said it would use the funds to develop an app for the planned launch of the first phones equipped with embedded depth sensors and the Google Project Tango software. The company said it’s “in discussions with sensor companies, phone manufacturers, and potential software and content partners.” Callais is the Thibodaux, Louisiana, family office and independent investment manager.
2 min read · 19 April 2016
Wind Point Partners, a U.S. private equity firm, said Workrite Ergonomics has acquired Toronto-based International Source for Ergonomics (ISE). No financial terms were disclosed. ISE is a provider of ergonomic office and workstation products, including adjustable keyboard platforms, computer-monitor supports, education and training stations, and accessories to companies and government agencies across North America. Its acquisition expands Workrite's distribution channels and gives it access to new markets, Workrite said. Based in Petaluma, California, Workrite is a division of Wind Point portfolio company Knape & Vogt.
2 min read · 19 April 2016
Wind Point Partners, the Chicago middle-market private equity firm, said Workrite Ergonomics acquired Toronto-based International Source for Ergonomics. Terms weren’t disclosed. ISE is a division of Wind Point’s Knape & Vogt portfolio company in Grand Rapids, Michigan. ISE provides ergonomic office and workstation products, including adjustable keyboard platforms, computer-monitor supports, education and training stations, and accessories to companies and government agencies across North America. The deal expands Workrite’s distribution channels and gives it access to new markets, Workrite President Charlie Lawrence said in a statement. Workrite is based in Petaluma, California.
2 min read · 19 April 2016
2 min read · 19 April 2016
Frontenac, the Chicago private equity firm focused on lower-middle-market, family-held and owner-operated businesses, completed the recapitalization of Liquid Technologies, the Chino, California, contract formulator and producer of personal-care products like shampoo and skin-care cream. Terms weren’t disclosed. Ron Kuehl, managing director at Frontenac, in a statement called Liquid Technologies’ growth trajectory “impressive” and said the company would pursue strategic and complementary acquisitions. As part of the deal, Jay Kline, whose background includes executive tenures at Kennametal and BASF, was named chief executive of Liquid Technologies.
2 min read · 19 April 2016
FusionOps, the Mountain View, California, provider of supply-chain intelligence, closed $25 million of Series C funding, led by Georgian Partners, with participation from current investors including New Enterprise Associates and Prabhu Goel, chairman of FusionOps. The company plans to use the funds to expand international sales operations, and for other purposes. Tyson Baber of Georgian Partners will join the FusionOps board. Georgian Partners, Toronto, invests in enterprise software firms taking in $6 million of revenue a year or more.
2 min read · 19 April 2016
Abraaj Group through a fund led a US$30 million fundraising for Ninja Logistics Pte Ltd , a Singapore provider of last-mile logistics operating in Singapore, Malaysia and Indonesia. Abraaj invested in the round alongside current investor Monk’s Hill Ventures and new investors B Capital Group and YJ Capital. The logistics firm, known as Ninja Van, plans to use the capital to expand to new markets, including Thailand, Vietnam and the Philippines, this year. Ninja Van also plans to triple its customer-service headcount across the Asia region while improving related systems. Abraaj manages $9.5 billion, including $1.4 billion in Asian sectors including healthcare, financial services, logistics, e-commerce, consumer goods, and food and beverage.
4 min read · 19 April 2016
Five major U.S. commercial banks invested a total of $30 million in Transactis, the New York provider of electronic billing and payment solutions. Capital One, Fifth Third, PNC, TD, and Wells Fargo put equal amounts into this Series E round. Including this funding, Transactis has now raised $70 million. Transactis says its software as a solution enables businesses of all sizes “to replace paper bills, statements, invoices, payments and documents with efficient and cost effective digital alternatives.” Other Transactis investors include ff Venture Capital, MacAndrews & Forbes, Metamorphic Ventures, Safeguard Scientifics and StarVest Partners. K&L Gates LLP advised the five banks on the Series E investment agreements.
4 min read · 18 April 2016
