Chris Witkowsky
Southport Lane Management, a New York-based private equity firm, has acquired a majority stake in Massive Interactive, which provides platform software and design for multi-screen entertainment. Massive also announced that it is now trading on the OTCMarkets under the ticker symbol 'HUGE'.
LP Capital Advisors, a private equity advisory firm has hired Christopher Farrington as a director in the firm's Boston office. Farrington joins the firm with more than 20 years of Wall Street and private equity experience, including working on the domestic private equity portfolio at MetLife Investments and Centinela Capital Partners, an emerging manager-focused shop.
TPG has agreed to acquire Arden Group, parent company of Gelson's Markets, which operates 17 distinctive, full-service specialty grocery stores in Southern California, in an all-cash transaction valued at about $394 million. Arden's shareholders would receive $126.50 per share in cash for each share in Arden's common stock.
Monroe Capital has provided a $17 million senior secured credit facility to support the merger of Landpoint, West Company of Midland and King Surveyors. Landpoint, based in Bossier City, Louisiana, is a registered professional land surveying business servicing the oil and gas industry throughout the southern U.S. and Colorado. The company continues to expand into shale regions throughout the U.S.
CapVest, a European middle market firm, has acquired Scandza, a Nordic consumer food and beverage business. Jan Bodd and Stig Sunde, who launched Scandza in 2007, will continue to lead the business and have increased their shareholding as part of the deal.
The Riverside Company has agreed to sell Tolentino, Italy-based Arena, an aquatic sports and competitive waterwear brand to Capvis. The sale is expected to close in early 2014, subject to regulatory approval.
OMERS Private Equity has agreed to sell Maxxam Analytics International, which provides analytical services to the energy, environmental, food and DNA industries, to Bureau Veritas for C$650 million. The transaction is subject to customary closing conditions.
To launch your abbreviated holiday week, First Read argues the success of Snapchat reveals a desire to erase the information we publish online, a visit to the Bitcoin mining operation in Iceland and 11 reasons why biking in the U.S. is extremely dangerous.
Zentrick, a video engagement platform, has closed a $3 million Series A financing round from Fortino. The investment will help Zentrick accelerate its growth and international expansion.
Kurtosys Systems, a FinTech software company helping asset managers, has secured $8 million in Series C financing from Triangle Peak Partners and existing investor True Ventures. The investment will be used to fund its global customer footprint and increase its research and development and support teams.