Private Equity
FTD Companies Inc said Aug. 9 that it received bankruptcy court approval for the sale of FTD North America, as well as its Latin America consumer and florist businesses, including ProFlowers, to Nexus Capital Management LP for about $110.9 million. FTD is also selling Shari's Berries to an affiliate of 1-800-Flowers.com Inc for $20.5 million.
5 min read · 12 August 2019
ARX Equity Partners has exited its investment in Anwis Sp. z o.o. Financial terms weren’t announced. Novaco Invest GmbH, a subsidiary of WAREMA Renkhoff SE, is the buyer. Anwis is a Polish manufacturer of internal and external custom-made sun shading systems. ARX said the deal generated an overall 3.3x cash-on-cash return multiple and an IRR of over 30 percent.
3 min read · 12 August 2019
KKR agreed to invest about $794 million in NVC Lighting’s China lighting business. KKR will own 70 percent of NVC China, while NVC Lighting will hold the remaining 30 percent and receive a cash consideration. NVC China is a lighting company in China, that makes, sells and distributes branded lighting products.
5 min read · 12 August 2019
BlackRock said Aug. 11 that it invested $875 million in Authentic Brands Group (ABG). BlackRock will become the largest investor of ABG, a brand development, marketing and entertainment company.
4 min read · 12 August 2019
Henley Investments has acquired five Water Works car wash locations in greater Greenboro, North Carolina. No financial terms were disclosed.
2 min read · 08 August 2019
Pestell Group, a portfolio company of Wind Point Partners, has acquired Pro-Ag Products and Verus Animal Nutrition. No financial terms were disclosed. Antares Capital, BMO Sponsor Finance and PennantPark led the debt financing for the transaction. And, McMillan LLP and Kirkland & Ellis LLP served as legal counsel to Pestell. Based in Winnipeg, Manitoba, Pro-Ag is a distributor of feed ingredients, feed additives and animal health products while Verus is a provider of performance animal nutrition products.
4 min read · 08 August 2019
Sunday, a direct-to-consumer lawn care company, has secured $6 million in Series A funding. Tusk Venture Partners led the round.
3 min read · 08 August 2019
Bridges Fund Management has made an investment in Jump City, an owner and operator of five Sky Zone franchises located in Massachusetts and Rhode Island. No financial terms were disclosed. BellMark Partners served as financial adviser to Jump City on the transaction.
3 min read · 06 August 2019
Gourmet Culinary Holdings, a portfolio company of AUA Private Equity Partners LLC, has acquired Gourmet Foods Inc. Financial terms weren’t announced. Gourmet Culinary makes and distributes specialty prepared foods including soups, sauces, hors d’ oeuvres, appetizers, side items, and breakfast dishes serving the airline, hospitality, restaurant, catering, retail and corporate campuses industries.
3 min read · 05 August 2019
2 min read · 05 August 2019
