Private Equity
2 min read · 11 March 2019
Mastercard said March 8 that it agreed to buy Transfast. Financial terms weren’t announced. GCP Capital Partners is the seller. Transfast provides a cross-border account-to-account money transfer network. Michael Gilligan and Evelyn Liristis of Schulte Roth & Zabel advised Transfast.
3 min read · 08 March 2019
Blackboard Inc said March 7 that it agreed to sell its Transact business unit, including Cashnet, to Reverence Capital Partners. Financial terms weren’t announced. The deal is expected to close in second quarter. Transact, of Phoenix, provides campus engagement and payments solutions to higher-education and other institutions in the U.S. and internationally. Blackboard is a portfolio company of Providence Equity Partners. Deutsche Bank served as financial adviser, while Dechert acted as legal counsel to Blackboard.
4 min read · 08 March 2019
Mercer Global Advisors Inc, which is backed by Genstar Capital, has acquired Boulder, Colorado-based Confluence Financial Advisors, a wealth management firm. No financial terms were disclosed.
3 min read · 07 March 2019
Blackstone has acquired a minority stake in San Francisco-based GI Partners, a middle-market asset management firm. No financial terms were disclosed. Evercore served as financial adviser to GI Partners. on the deal. Kirkland & Ellis served as legal counsel to GI Partners while Simpson Thacher did likewise for Blackstone.
3 min read · 06 March 2019
The Witter Family Offices has made an investment in Silvergate Bank, a provider of financial infrastructure solutions and services to the digital current industry. No financial terms were disclosed. Last November, Silvergate filed for an IPO that seeks to raise up to $50 million.
3 min read · 06 March 2019
Aon Plc is considering combining with rival insurance broker Willis Towers Watson Plc, Bloomberg reported. The companies have held preliminary talks and Aon is expected to submit an offer in coming weeks, the story said. An offer for Aon could exceed $24 billion. UPDATE: Aon said March 6 that it considered investing in Willis Tower but no longer plans to pursue this business combination.
1 min read · 06 March 2019
Cognizant has acquired Dublin, Ireland-based Meritsoft, a financial software company. No financial terms were disclosed. Meritsoft was backed by Synova and 22C Capital.
3 min read · 05 March 2019
Katz Capital has agreed to acquire Camp Grove Bancorp, parent company of Camp Grove State Bank based in Camp Grove, Illinois. No financial terms were disclosed. The deal is expected to close in the second half of 2019. Olsen Palmer LLC is serving as financial adviser to Camp Grove Bancorp Inc on the transaction.
2 min read · 05 March 2019
Abrigo, a portfolio company of Accel-KKR, has acquired Wisconsin-based Farin Financial Risk Management, a provider of enterprise risk management solutions. No financial terms were disclosed.
3 min read · 05 March 2019
