Iris Dorbian
Magellan Health has agreed to acquire Veridicus Holdings. The sellers are Gauge Capital, Veridicus management and other unnamed backers. No financial terms were disclosed for the deal that's expected to close in the fourth quarter of this year. Based in Salt Lake City, Veridicus is a provider of pharmacy benefit management, medication therapy management, clinical care management and Medicare Part D services to self-funded employers, third- party administrators and plan sponsors.
Apollo Global-owned Presidio, an IT solutions provider in North America, has filed for an IPO. The number of shares of the stock as well as its pricing terms have yet to be set. J.P. Morgan and Citigroup will serve as the lead underwriters.
L Catterton raised $2.75 billion for its oversubscribed eighth flagship private equity fund.
Grand Rapids, Michigan-based Acrisure, a national insurance broker, has closed its management buyout of the company from Genstar Capital. No financial terms were disclosed. Greg Williams, CEO of Acrisure, led the buyout. Evercore provided financial advice to Acrisure on the transaction while J.P. Morgan led the financing. Genstar bought Acrisure in 2013.
Toro Real Estate Partners has acquired Greenville, South Carolina-based apartment complex Enclave Grandview. No financial terms were disclosed.
Aterian Investment Partners has formed a partnership with Avon, Ohio-based Zephyr Solutions LLC, a provider of logistics and supply chain management for industrial gases. No financial terms were disclosed.
Baltimore-based Paragon Bioservices, a contract research and manufacturer focused on biopharmaceuticals and vaccines, has named John Conner as senior vice president of GMP manufacturing. Previously, Conner was senior vice president of operations at CDMO Cytovance Biologics. Paragon is backed by NewSpring Capital and Camden Partners.
Arcapita has acquired a portfolio of three senior living companies in the metropolitan areas surrounding Washington, D.C. and Atlanta. The total value of the transaction is about $110 million.
ACON Investments has acquired an equity stake in Dori Alimentos S.A., a Brazilian maker of snack and candy products. No financial terms were disclosed.
First Read starts the morning with news that U.S. stocks hit highs as oil jumps, JPMorgan Chase CEO Jamie Dimon can forget about being Trump's Treasury Secretary, and Peter Thiel is trying to put together a brain trust of Silicon Valley insiders.