PE HUB First Read

First Read begins this holiday week with news that Alphabet puts a halt on creating a glucose-measuring contact lens for diabetes patients, Airbnb raked in more than $1 billion in revenue last quarter, and Nissan is firing Carlos Ghosn, its chairman.


Quilvest Private Equity sells ST Products to Waybill

Waybill has acquired Small Tube Products, a redrawer of niche, small diameter copper and aluminum tubes. The seller was Quilvest Private Equity. No financial terms were disclosed for the transaction that was done with Dwight Anderson, founder of Ospraie Management.


PE-backed ACProducts Inc to buy Elkay Wood Products Company

ACProducts Inc, a portfolio company of American Industrial Partners, has agreed to acquire Elkay Wood Products Company, a maker of kitchen and bath cabinetry. No financial terms were disclosed. The deal is expected to close by the end of the first quarter of 2015. Jefferies LLC was financial adviser to Elkay Manufacturing Company on the transaction with Mayer Brown LLP serving as legal adviser. And, Ropes & Gray was legal adviser to ACProducts.


PE HUB Second Opinion

In Second Opinion, a judge orders the White House to return Jim Acosta’s press pass, former Oracle executive Thomas Kurian will replace Diane Green as head of Google Cloud and FAO Schwarz returns to New York City just in time for the holiday season.

Zippity procures $2.6 mln

Zippity, a workplace amenity for full-service car maintenance, has raised $2.6 million in funding. The investors were A3Ventures, BP Ventures and LaunchPad Ventures.

BOU takes in $4 mln Series B

BOU, a provider of cooking products, has secured $4 million in Series B funding. The investors included FounderMade and Nebari Ventures.

Alphamab nabs more than $100 mln Series A

China-based Alphamab Oncology, a biopharmaceutical company focused on treating cancer, has raised more than $100 million in Series A funding. The investors included Advantech Capital, PAG,OrbiMed, Heritage Provider Network and Janchor Partners.


Balmoral acquires VESTA Modular

Balmoral Funds LLC have acquired an ownership stake in VESTA Modular, a provider of modular buildings. The sellers were Soaring Pine Capital LLC and Wells Fargo Central Pacific Holdings. No financial terms were disclosed.


KPS Global acquires Custom Cooler

KPS Global, which is backed by D Cubed Group LLC, has acquired San Dimas, California-based Custom Cooler, a maker of custom walk-in coolers, walk-in freezers and industrial cold storage applications. No financial terms were disclosed.


LifePoint Health and Apollo-backed RCCH complete merger

LifePoint Health Inc has closed its previously announced merger with RCCH HealthCare Partners, a portfolio company of Apollo Global Management. According to terms of the deal, LifePoint shareholders are receiving $65 per share in cash for each share of LifePoint’s common stock they owned. Also, LifePoint has stopped trading on the NASDAQ. The newly combined healthcare company will operate under the LifePoint Health name. LifePoint will remain based in Brentwood, Tennessee.


Oracle to buy VC-backed Talari Networks

Oracle has agreed to acquire San Jose, California-based Talari Networks, a provider of SD-WAN technology, according to an announcement on the Oracle site. No financial terms were disclosed. Talari’s investors include Menlo Ventures, Silver Creek Ventures and Four Rivers Group.


MapAnything scores $42.5 mln Series C

Charlotte, North Carolina-based MapAnything, a provider of location-of-things solutions, has raised $42.5 million in Series C funding. The investors were GM Ventures, Andrew Leto, Salesforce Ventures, Greycroft, Harbert Growth Partners and David Stern.


Portfolio Advisors racks up about $1.18 bln for PE fund-of-funds

Darien, Connecticut-based Portfolio Advisors, a private markets specialist, has closed its oversubscribed ninth global private equity fund-of-funds at about $1.18 billion, beating its $900 million target. The limited partners of Portfolio Advisors Private Equity Fund IX include private and public pension plans, university endowments, private foundations, insurance companies, family offices and high-net worth individuals. PA’s previous global private equity-fund-of-funds raised $1.22 billion in April 2016.


Fintech startup Self Lender lands $10 mln Series B

Austin, Texas-based Self Lender, a fintech startup, has secured $10 million in Series B financing. Altos Ventures led the round with participation from other investors that included Silverton Partners and Accion Venture Lab.

Twiga Foods snags $10 mln

Twiga Foods, a Kenyan-based start-up connecting smallholder farmers in rural areas to informal retail vendors in cities, has raised $10 million in funding. IFC and TLcom led the round with participation from return backers Wamda Capital, DOB Equity, 1776 and Adolph H.Lundin.