Iris Dorbian
Infor, a builder of business software for specific industries in the cloud, has secured $2 billion in funding. Koch Equity Development LLC, the investment arm of Koch Industries, is the investor. Infor's current backers Golden Gate Capital, Summit Partners and the company management will maintain control. Morgan Stanley and Bank of America Merrill Lynch are serving as lead financial advisers to Infor with Credit Suisse also providing advice. Rothschild is acting as financial adviser to KED on the transaction.
Z Capital Group LLC has beefed up its team with several new hires. Joining the alternative asset manager are Sean Maddock and Ashwini Sawhney as managing directors and operating partners; Michael Stanczak as a director and operating partner; Tyler Hendry as an operating associate; David DeMilt as a managing director responsible for corporate development for the firm's private equity and credit funds; and Ian Delehanty and Olivia Guo as associates.
First Read ushers in the morning with news Snapchat filed confidentially for an IPO, external management fees continue to climb and Intel Capital to invest $250m in autonomous vehicle technology.
FFL Partners has agreed to acquire Crisis Prevention Institute Inc from Brockway Moran & Partners. No financial terms were disclosed. CHILDS Advisory Partners provided financial advice to FFL on the transaction. Based in Milwaukee, CPI provides training programs for professionals confronted with violent situations.
Lone Star Funds, a Dallas-based private equity firm that invests in distressed assets, has closed its 10th private equity fund at $5.6 billion, beating its $5 billion target.
In Second Opinion, Reynolds American reportedly rejects BAT's $47 billion takeover bid, Twitter vows to cut down on hate speech and Ben Carson says no to a cabinet post while Rudy Giuliani could be the next Secretary of State.
Madison Capital Funding LLC has added Marcus Meyer as a managing director on its originations team, according to the firm's announcement. Prior to joining Madison Capital, Meyer worked at NXT Capital where he served as a managing director and was responsible for sponsor coverage in the New York region.
NewNet Communication Technologies, a portfolio company of Skyview Capital, has agreed to sell its RCS business to Samsung. The RCS business provides rich communication services infrastructure and services to mobile operators. No financial terms were disclosed.
Anchorage Capital Group and Littlejohn & Co LLC have sold Contech Engineered Solutions, a provider of infrastructure, commercial and residential site solutions to QUIKRETE Holdings Inc. No financial terms were disclosed. RBC Capital Markets LLC and Kirkland & Ellis LLP advised Contech on the deal.
Brown & Root Industrial Services LLC, a portfolio company of Bernhard Capital Partners, has acquired MEI Group LLC, a turnaround specialist for industrial facilities. No financial terms were disclosed.