198 Views

Thoma Bravo completes Sparta Systems acquisition

Thoma Bravo said Monday that it has closed its buy of Sparta Systems. No financial terms were disclosed. Summit Partners and Altaris Capital Partners were the sellers. Lazard was the financial adviser on the transaction. Headquartered in Hamilton, NJ, Sparta Systems is a provider of enterprise quality management solutions.

150 Views

D.A. Davidson expands Chicago team with new hire

Investment firm D.A Davidson & Co. has named Craig Korte as a managing director to the firm’s Chicago office. In his new position, Korte will focus on middle market industrial firms. Previously, Korte worked at Lazard where he served as a director in the firm’s middle market industrials group.

324 Views

New Capital Partners hits $232 mln hard cap on Fund III

New Capital Partners has closed its third fund, New Capital Partners Private Equity Fund III, on the $232 million hard cap. Fund III beat its $200 million original target. The Birmingham, Alabama-based firm launched fundraising in March, 2014. Lazard worked as placement agent on the fundraising.

213 Views

BTIG adds two to team and promotes one

Global financial services firm BTIG has named William Buchanan, Jr. as head of investment banking and Graham Powis as head of capital markets. Prior to joining BTIG, both worked at Lazard with Buchanan serving as CEO of capital markets and Powls working as head of U.S. equity capital markets. Also, the firm has promoted K.C. Stone to head of healthcare investment banking. Stone first came on board at BTIG as a managing director.

264 Views

Thoma Bravo agrees to buy Sparta Systems

Thoma Bravo has agreed to acquire Sparta Systems from Summit Partners and Altaris Capital Partners. No financial terms were disclosed for the transaction, which is expected to be completed in the third quarter of this year. Lazard was financial advisor to Sparta Systems. Headquartered in Hamilton, NJ, Sparta Systems is a provider of enterprise quality management solutions.

199 Views

HCP to divest stake in NYX Cosmetics to L’Oreal

HCP & Company has agreed to sell its stake in makeup brand NYX Cosmetics to L’Oreal. No financial terms were disclosed. Piper Jaffray and Morgan, Lewis & Bockius advised NYX Cosmetics and HCP while Lazard and Weil, Gotshal and Manges advised L’Oreal.

250 Views

Blue Sea Capital closes debut fund on $327 mln

Blue Sea Capital, a spin out from Brockway Moran & Partners, has closed its debut fund on $327 million. About 10 percent of the capital came from the general partner and affiliates. Blue Sea, based in Palm Beach, Florida with an office in El Segundo, California, closed its first fund within 12 months and beat its $300 million target. Lazard Freres & Co. worked as placement agent on the fundraising.

Insight Venture Partners invests in WorkForce Software

Insight Venture Partners has acquired a majority stake in WorkForce Software. No financial terms were disclosed. In addition to the investment, Ryan Hinkle, managing director at Insight Venture Partners and Ross Devor, vice president, have been added to the WorkForce board of directors. Lazard advised Workforce on the transaction. Headquartered in Livonia, Michigan, Workforce Software is a provider of workforce management solutions.

Rockwood to Sell Clay Based Additives Business

Rockwood Holdings is to sell its clay-based additives business to ALTANA Group, a German based global specialty chemical company for a purchase price of $635 million. Lazard acted as Rockwood’s financial advisor and Hughes Hubbard & Reed LLP and Willkie Farr & Gallagher LLP as legal advisors.

Reuters – Lazard, Messier Mandated to Sell Maisons du Monde

Investment banks Lazard and Messier Maris have been mandated to sell Maisons du Monde, a furniture store chain owned by private equity firms Apax and LBO France, writes Reuters. Lazard and Messier Maris, the boutique bank controlled by former Vivendi chief executive Jean-Marie Messier, were chosen last week to run the process, writes Reuters.

Lawson Joins Lazard

Doug Lawson has joined Lazard Middle Market, a unit of Lazard, as an MD and head of packaging within the industrials group. He is based in Chicago. Most recently, Lawson was an MD wand head of the packaging group at BMO Capital Markets in Chicago.

127 Views

Intermedia Outdoors to Merge with Outdoor Channel Holdings

Outdoor Channel Holdings said Friday it is merging with InterMedia Outdoors Holdings, which controls The Sportman Channel. Press reports pegged the deal value at $208 million in cash and stock. InterMedia Partners, the PE firm, owns InterMedia Outdoors. The Sportsman Channel is a cable TV network for outdoor enthusiasts. InterMedia will have a majority stake in IMOH and own, along with minority members of IMOH, 67.6%. Outdoor Channel stockholders are expected to own approximately 32.4% of IMOH. CIT Communications, Media & Entertainment is providing $150 million in financing. Lazard provided financial advice to Outdoor Channel Holdings.

Yorke Joins Lazard as Head of North American Financial Sponsors

Edward Yorke has joined Lazard as an MD, financial advisory and head of North America financial sponsors. He will be based in New York and work closely with Fotis Hasiotis, Lazard’s head of European financial sponsors in London. Yorke joins from Credit Suisse where he was an MD and Vice Chairman, Investment Banking, Americas.

Beck, Frommelt Leave Lazard Middle Market for Craig-Hallum Capital Group

Steve Beck and Jamie Frommelt have joined Craig-Hallum Capital Group as MDs and coheads of mergers and acquisitions. Both were recently at Lazard Middle Market and its predecessor Goldsmith Agio Helms. Beck was an MD and co-head of Lazard Middle Market’s industrial group. Frommelt was also an MD and co-head of Lazard Middle Market’s consumer group.

O’Toole Joins Houlihan Lokey

Ryan O’Toole has joined Houlihan Lokey as a director in the Aerospace•Defense•Government (ADG) Group. O’Toole was most recently a director at Lazard Frères & Co. PRESS RELEASE Houlihan Lokey, an international investment bank, today announced that Ryan O’Toole has joined the firm as a Director in the Aerospace•Defense•Government (ADG) Group. Mr. O’Toole, formerly of Lazard, […]

Advisors Seek Lifeline for Shipping Co Torm

Two financial restructuring advisors have been appointed to search for a private equity cash injection to keep indebted Danish shipping company Torm alive, writes Reuters. M&A advisory and asset management firm Lazard had been appointed to work for the creditors and Evercore had been appointed to work for Torm, reports Reuters. Reuters – Two financial […]

Carlyle, Hellman & Friedman Close PPD Buy

The Carlyle Group and Hellman & Friedman have completed their $3.9 billion deal to buy Pharmaceutical Product Development. The deal was approved by PPD shareholders on Nov. 30. Morgan Stanley advised PPD while Lazard provided a fairness opinion. Credit Suisse provided financial advice to Carlyle and Hellman & Friedman.

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