PE HUB Wire Highlights, 12.3.18


Photo of Luisa Beltran, PE HUB Senior Editor, courtesy of Buyouts Insider.

Black’s Apollo Global loses Tribune Media bid; General Atlantic announces promotions; NEA completes secondary sale of 26 portfolio cos for about $1 bln

We had some good news and bad news this weekend. It looks like trade tensions have eased between the U.S. and China but I’m still leery of calling this a win. DealBook says there’s little sign of meaningful progress. Also, who else was choked up by seeing Sully, the service dog, waiting by the casket of 41?

It’s merger Monday, Hubsters. Callaway Golf is buying Jack Wolfskin for 418 million euros ($476 million). Bain Capital CreditH.I.G. Bayside Capital,CQSAvenue Capital Group and BlueMountain Capital Management, which own a combined 67 percent of Jack Wolfskin, are the sellers. Wolfskin makes high-end outdoor apparel, footwear and equipment, according to press reports.

Zedra, which Corsair Capital just bought, is wasting no time. Zedra is buyingJP Integra Group, which provides fund, corporate and trustee services. See our brief here.

Leon Black’s Apollo Global Management has lost its bid for Tribune Media,according to ReutersNexstar Media Group has reached a deal to buy Tribune for $4.1 billion, the story said.

People who need people: General Atlantic announced promotions this morning. Chris CaulkinRoni ElchahalAndrew Ferrer, and Peter Munzigwere named managing directors. Find out who else got elevated here.

FintechLLR Partners has formed Celero Commerce, a Nashville payments processor, with Kevin Jones. Jones is the founder and ex-CEO of Anovia Payments. Celero is also investing in UMS Banking, which will provide Celero’s payment processing infrastructure. See our brief here.

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