Chris Witkowsky
Guardian Capital Partners has acquired a controlling interest in children's and women's hosiery platform McCubbin Hosiery, partnering with the executive management team of McCubbin on the deal. The existing managers will continue operating the company. PNC Bank provided senior debt financing and Patriot Capital Partners provided additional financing and minority equity.
Monroe Capital has funded a $27 million senior secured term loan in conjunction with a $40 million revolving line of credit provided by Bank of America Merrill Lynch to support the growth of Alliance Time and Ashford.com. Alliance Time is a wholesaler and online retailer of luxury watches and specialty jewelry. The company distributes a wide range of timepieces and fine jewelry from various suppliers to an international clientele through its website Ashford.com.
Forus Health, a Bangalore-based ophthalmic technology company, has raised Rs 50 crore ($8.2 million) in a Series B funding round. The financing was led by Asian Healthcare Fund, with participation from existing investors Accel Partners and IDG Ventures India. Unitus Capital was the sole advisor to Forus for the funding.
To end your Wednesday, Second Opinion brings you news that Apollo is looking to exit its hedge fund investment, the labor market ended 2013 on a high note and Chris Christie is in some GW Bridge traffic madness.
Z Capital Partners, the special situations firm run by James Zenni, the founder of Black Diamond Capital Management, has beat its target for its second fund and is now eyeing its $750 million hard cap, according to two people with knowledge of the situation.
ImmuneXcite, a biopharmaceutical company, has secured $3.58 million in second-round funding from new and existing investors. The funding round is in addition to the $2.42 million the company raised in 2011 in its first round of financing and an accelerator loan for about $1 million from the Massachusetts Life Science Center.
New York Life has elected John Kim vice chairman. Kim will oversee the company's technology function in addition to his current responsibilities. Kim will continue as president of New York Life's Investments Group, as well as chief investment officer of New York Life Company. With his combined roles, Kim oversees about $400 billion in assets.
Blueprint Medicines, a patent driven oncology company, has closed a $25 million Series B funding round. Nextech Invest led the round, which also included founding investors Third Rock Ventures and Fidelity Biosciences as well as public investors Biotech Value Fund, Casdin Capital and other undisclosed investors.
Lincoln International has promoted Michael Fisch, Christopher Stradling, Alysia Tan and Christine Tiseo to managing directors, effective immediately. Each of the promoted executives started at Lincoln as associates and then promoted to vice president, director and now managing director.
ABRY Partners has agreed to acquire Inmar, which operates intelligent commerce networks, from New Mountain Capital. New Mountain first invested in Inmar in 2007. Terms of the deal were not disclosed.