Thompson Street Capital Partners said Tuesday that it sold its majority stake in BarcodesInc to the Cortec Group. Financial terms weren’t announced. Chicago-based BarcodesInc provides barcoding, mobile computing and radio-frequency identification solutions.
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180 Medical, a distributor of intermittent catheters, urologic and disposable medical supplies has been sold to ConvaTec. 180 Medical was a portfolio company of Cortec Group. Harris Williams & Co. acted as an advisor to 180 Medical.
Seidler Equity Partners has sold Harmar Mobility to Cortec Group. Financial terms weren’t announced. Harmar Mobility provides lifts, ramps and elevators to enhance individal mobility. News of the deal was announced by Harris Williams which advised Harmar. PRESS RELEASE Harris Williams & Co., a preeminent middle market investment bank focused on the advisory needs of [...]
Private equity firm Cortec Group has backed YETI Coolers, a provider of premium coolers, headquartered in Austin, TX. Harris Williams & Co acted as the exclusive advisor to YETI. PRESS RELEASE Harris Williams & Co., a preeminent middle market investment bank focused on the advisory needs of clients worldwide, announces that YETI Coolers, LLC (YETI), [...]
Olympus Partners said Monday that it has bought FFR-DSI from Cortec Group. Financial terms weren’t announced. Twinsburg, Ohio-based FFR-DSI designs, markets and supplies merchandising, loss prevention and operational efficiency solutions primarily to retailers and consumer packaged goods companies. The Olympus team on the deal included Jim Conroy, David Haddad, Jason Miller and Sachin Bavishi. John Schoenfeld and Rob Kiburz of Kirkland & Ellis provided legal advice. Chris Williams, John Neuner, Brent Spiller and Chip Duggins of Harris Williams supplied financial advice to Cortec.
Just as VC fundraising roared back to life in Q1, so did fundraising on the buyout and mezzanine side of the private equity market. Sister magazine Buyouts this week reported that U.S.-based buyout and mezzanine firms raised $18.3 billion in Q1, up 79 percent from $10.2 billion during the same period last year. Fundraising also grew sequentially, up 36 percent from the Q4. Kohlberg Kravis Roberts & Co. took in a tad over $1 billion for its latest effort in Q1, according to our calculations–but that was only good for seventh place among buyout and mezzanine shops that closed on capital last quarter. Click through for a slideshow leading you throught the top 10.
Want to catch up on what your colleagues found most interesting on peHUB this week? Here are the blog posts written by our staff this week that garnered the most pageviews by our regular readers from March 28 to April 1. (Note: Instead of tracking total pageviews, this list now tracks pageviews by return readers to make it more relevant to our core audience. –Ed.)
Post No. 1: Slideshow: Top Performing VC-backed Chinese IPOs – by Lawrence Aragon
Post No. 2: Who Are The Most Influential VCs and Angels? Check Out This List – by Mark Boslet
Post No. 3: Harris Williams, Known for Keeping its Senior Bankers, Sees 7 MDs Leave Since 2009 – by Luisa Beltran
Post No. 4: Best and Worst of Venture – by Joanna Glasner
Post No. 5: SecondMarket Looking Into Cutting Out the Middleman (VC Firms) – by Jonathan Marino
Post No. 6: A Case Study In What Not to Do: America’s Biggest Company Goes Down in Flames on Twitter – by Connie Loizos
Post No. 7: One Institutional LP on VCs Buying Up Secondary Shares – by Connie Loizos
Post No 8: After Blippy, Pud Contemplates His Next Move – by Connie Loizos
Post No. 9: NY Shop To Close Fund V At Hard Cap – by Bernard Vaughan
Post No. 10: Apollo Shareholder Puzzle: Where Do You Fit In? – by Gregory Roth
Cortec Group expects to close its fifth buyout fund at its $620 million hard cap on Wednesday, a source close to the fundraising effort told Buyouts. The New York-based shop raised $600 million in commitments from LPs, and principals at the firm are committing an additional $20 million. The firm’s target had been $500 million. [...]
The full cost of having to register as investment advisers has really started to sink in with buyout shops. Olympus Partners puts the figure for itself at $500,000 to $600,000 by late spring, not counting annual costs beyond (see other estimates below). Under the Dodd-Frank Wall Street Reform and Consumer Protection Act, buyout firms with [...]
Several middle market private equity firms have launched a last-ditch campaign urging Congress not to impose a new requirement that they register with the U.S. Securities and Exchange Commission, Buyouts reported. The movement is spearheaded by Rob Morris, managing partner of Olympus Partners, and executives at Atlas Holdings LLC and Brockway Moran & Partners. Executives [...]