Private Equity
2 min read · 26 July 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 · 26 July 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 · 26 July 2019
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 · 25 July 2019
Wealth Enhancement Group, a portfolio company of Lightyear Capital, said July 25 that it closed its buy of Planning Solutions Group LLC. Financial terms weren’t announced. Planning Solutions, of Fulton, Maryland, is an independent financial advisory business with more than $1.3 billion in combined client assets as of June 30.
2 min read · 25 July 2019
Aquiline Capital Partners is buying CoAdvantage. Financial terms were not announced. Morgan Stanley Capital Partners is the seller. CoAdvantage, of Tampa, Florida, provides HR outsourcing for small and medium sized businesses.
4 min read · 24 July 2019
Silver Lake agreed to invest in EverCommerce. Financial terms weren’t announced. Providence Strategic Growth, the growth equity arm of Providence Equity Partners, is retaining a majority of EverCommerce, a software and payments provider. Goldman Sachs & Co provided financial advice to EverCommerce, while Kevin J. Sullivan, Richard Frye and Benton Lewis of Weil, Gotshal & Manges LLP, along with Greenberg Traurig LLP, acted as legal counsel. Ropes & Gray LLP served as legal counsel to Silver Lake.
4 min read · 23 July 2019
Silver Lake Management is buying a minority stake in EverCommerce in a deal that values the company at $2 billion, the Wall Street Journal reported. Providence Strategic Growth, the growth arm of Providence Equity Partners, will remain the majority investor, the story said.
1 min read · 23 July 2019
SkyKnight Capital has made an investment in Walnut Creek, California-based Heffernan Insurance Brokers, a retail insurance brokerage platform. No financial terms were disclosed. Waller Helms Advisors was financial adviser on the transaction.
2 min read · 22 July 2019
