Iris Dorbian
In Second Opinion, Wells Fargo plans to close 800 more branches by 2020, Netflix was 2017’s top non-game app by revenue and the U.S. ambassador to Panama resigns, saying he cannot serve under President Trump.
Z Acquisition LLC, Christian Zugel's blank check company, has agreed to acquire Zais Group Holdings in a take-private deal for $4.10 per share. Upon closing of the deal, Zais will no longer trade on the NASDAQ. Based in Red Bank, New Jersey, Zais is an investment adviser and asset management firm focused on specialized credit strategies.
Silver Creek Midstream, which is backed by Tailwater Capital, has acquired Red Butte Pipe Line, a crude oil gathering system. The seller was Merit Energy. No financial terms were disclosed. Locke Lord provided legal advice to Silver Creek Midstream on the transaction.
Stonewall Kitchen, a portfolio company of Centre Partners, has acquired Tillen Farms, a provider of cocktail garnishes. No financial terms were disclosed.
Alinda Capital Partners has acquired UK-based Kelling Group Limited, which owns and leases specialty equipment supporting the maintenance and upgrade of rail, road, telecommunications, street lighting, electric transmission and other critical infrastructure. The seller was Elysian Capital. No financial terms were disclosed.
Gates Industrial Corp, a maker of products for the industrial and consumer markets, has priced its IPO of 38.5 million shares at between $18 and $21 per share. The stock will trade on the New York Stock Exchange under the ticker symbol "GTES." Citigroup, Morgan Stanley and UBS Investment Bank are the lead underwriters. Gates is backed by Blackstone.
Newport Beach, California-based BirchStreet Systems, a provider of procure-to-pay automation software for customers in the hospitality, restaurant, and food service industries, has raised an undisclosed amount of funding. The investor was Serent Capital.
Imagine! Print Solutions, a portfolio company of Oak Hill Capital Partners, has acquired Grayslake, Illinois-based GFX International, a retail design and execution firm. No financial terms were disclosed.
Xponential Fitness, which is backed by TPG Growth, has acquired New York City-based Row House, a fitness studio offering group indoor full-body rowing workouts. No financial terms were disclosed.
CenterGate Capital has made an undisclosed investment in AC Photonics. Robert Ullman of Dinan Capital Advisors served as financial adviser to ACP on the transaction. Based in Santa Clara, California, ACP is a provider of precision optical and fiber optic components and modules.