Blackstone has agreed to invest €210 million ($287 million) for a 20% equity interest in luxury products company Gianni Versace SpA (DBA Versace). The transaction values the equity of the company at just over €1 billion ($1.4 billion). Blackstone will invest €150 million of equity capital into Versace in return for a 14.3 percent equity […]
Archives for February 2014
New MainStream Capital Invests in ettain
New MainStream Capital (NMS) has made an investment in ettain group, an IT staffing company founded in 1996 by Jeff Harris and Brian Deblitz. Both of ettain’s founders will continue in their roles at the company and will also remain significant shareholders. “We had conversations with over 50 potential investors over the last 24 months. […]
BDO Names New National Director of Transaction Advisory Services
BDO USA has appointed Scott Cacurak to the position of National Director of Transaction Advisory Services (TAS). Mr. Cacurak, based in the firm’s Los Angeles office, will work with regional TAS leaders to develop strategies for the practice, while coordinating with the firm’s private equity practice and industry teams when clients are considering an acquisition […]
HKW Exits Qualis Automotive
Hammond, Kennedy, Whitney & Company (HKW) has sold its portfolio company Qualis Automotive to CWD, LLC (DBA Centric Parts). HKW acquired Qualis Automotive in June 2004. Qualis is a supplier of brake, chassis and hydraulic products to the North American automotive aftermarket. Products include drums and rotors (2000 SKUs), steering and suspension components (5000 SKUs), […]
Primeritus Acquires Repo Remarketing
Primeritus Financial Services, a portfolio company of Kinderhook Industries, has acquired Repo Remarketing, a provider of repossession services. Repo Remarketing is a collateral repossession, recovery and remarketing company. Services include recovery management, skip tracing and asset liquidation. Customers of the company are primarily credit unions. Repo Remarketing is based near Sacramento in Citrus Heights, CA […]
L2 Capital Acquires reQuire
L2 Capital has acquired reQuire, an online lien release tracking and reporting service for the real estate settlement services sector. reQuire provides settlement companies and real estate attorneys with an automated means of tracking and releasing property liens after settlement, ensuring any previous liens are fully repaid and properly removed from court records. The company […]
Thoma Bravo Names New Partner
Thoma Bravo has promoted Robert “Tre” Sayle to partner. Mr. Sayle joined Thoma Bravo in 2005 and was most recently a principal in the firm’s San Francisco office. “Throughout his nine years at Thoma Bravo, Robert has proven to be a strong part of our successful investment team,” said Orlando Bravo, a managing partner at […]
CCMP Capital Sells Medpace to Cinven
CCMP Capital has sold its portfolio company Medpace, a contract research organization, for $915 million to European private equity firm Cinven. In 2013, Medpace generated an adjusted EBITDA of $94 million resulting in a valuation multiple of 9.7x. CCMP acquired Medpace in May 2011. Medpace is a late-stage focused clinical research organization (CRO) that provides […]
Birch Equity Partners Invests in Tempo Telecom
Birch Equity Partners has closed its first transaction through an investment in Tempo Telecom, a provider of prepaid and discount telecommunications services. “Birch Equity Partners’ decision to invest in Tempo was an easy one,” said Vincent Oddo, Managing Partner. “We observed the historical growth and the excitement in the marketplace for prepaid and Lifeline services […]
Intervale Capital Beats Target on Fund 3
Energy-focused private equity firm Intervale Capital has closed Intervale Capital Fund III, LP with capital commitments of $495 million. The new fund was raised in less than five months and surpassed its target of $400 million. Fund III will make control investments in lower middle-market companies in the oilfield services industry (the “OFS” industry), located […]
Healthcare Private Equity Association Names New President
Michael Dal Bello, a healthcare investment partner at Pritzker Group Private Capital, has been named president of the Healthcare Private Equity Association, a trade group comprised of more than 50 private equity firms representing 400 healthcare portfolio companies. As president, Mr. Dal Bello will lead the organization’s advocacy, research and communication efforts when he takes […]
Pamlico Capital Acquires Daxko
Pamlico Capital has acquired Daxko, a software company serving the not-for-profits and member-based organization sectors, from Frontier Capital. Daxko represents the second investment made by Pamlico Capital III, a recently raised fund with $650 million of aggregate commitments. “Daxko represents an industry leading software platform where we believe Pamlico’s experiences growing portfolio companies organically and […]
High Road Acquires Martino & Binzer
BlueSpire Strategic Marketing, a portfolio company of High Road Capital Partners, has acquired Martino & Binzer, a marketing agency that specializes in the senior living sector. “Senior living communities are increasingly relying on sophisticated marketing services, such as those provided by Martino & Binzer, to build brand awareness, increase occupancy, and drive census. Martino & […]
Odyssey Has Final Close of Fund 5 Above Target
Middle-market private equity firm Odyssey Investment Partners has held a final closing of Odyssey Investment Partners Fund V, LP with $2 billion in commitments. Investor interest in Fund V, which launched in September 2013, exceeded its initial target of $1.75 billion. Fund V’s limited partners include substantially all of the limited partners from the firm’s […]
Blackstone and GIC Invest in Kronos
Blackstone and Singapore sovereign wealth fund GIC Private Limited have agreed to make a minority investment of $750 million in Kronos in return for a 44% equity interest. Blackstone and GIC will invest in Kronos alongside existing investors Hellman & Friedman and JMI Equity. Hellman & Friedman will remain the majority investor in the company. […]
Black Diamond Buys Assets of Star Growers of Colorado
Color Spot Nurseries, a portfolio company of Black Diamond Capital Management, has acquired certain assets of Color Star Growers of Colorado through a Chapter 11 Section 363 process which closed last month. Color Star was a grower and wholesaler of flowers and nursery stock with greenhouses and distribution centers in nine locations in Colorado, Missouri […]
LBC Agents Facility to Back Promus’ Buy of Alliance Steel
LBC Credit Partners has agented a $15 million second lien term loan to support the acquisition of Alliance Steel by Associated Steel Group, a portfolio company of Promus Equity Partners and Jon Vesely, an independent sponsor, formed in August 2012 to consolidate the metal building industry. Alliance is a fully integrated manufacturer of metal building […]
Ultra-High Net Worth Pro Joins USCA
US Capital Advisors (USCA) has hired Mark Casey as a new Managing Director. Mr. Casey will be active in developing USCA’s ultra-high net worth and family office platform in Texas and he will also assume a key role in business development. Mr. Casey comes to USCA from Merrill Lynch’s Private Banking and Investment Group where […]