Iris Dorbian
Newport Beach, California-based Pelican Point Investment Group LLC, a new private equity, late-stage venture and merchant banking firm, has launched. Ike Suri is serving as PPI's chairman and CEO while Adam Chaudhary is the president.
Tellurian Investments has named Meg Gentle as president and CEO. Previously, Gentle worked at Cheniere Energy where she was the executive vice president of marketing.
Encore Rehabilitation Services LLC, which is backed by Revelstoke Capital Partners LLC, has appointed Eric A. Shuey to its board of directors. Previously, Shuey was the chief financial officer at Liberty Dialysis Holdings. Based in Farmington Hills, Michigan, Encore is a provider of rehabilitative therapy services and associated compliance and revenue cycle support services for nursing facilities, assisted living facilities, home health agencies, hospitals and schools.
First Read kicks off the morning with news that Goldman Sachs has lost out on an $1.8 billion U.S. property deal, Google takes on Uber with a new ride-sharing service, and the CIA's venture capital firm operates in the shadows.
Prime Focus Technologies, a tech subsidiary of media services company Prime Focus, has secured an undisclosed amount of funding. The investor was Ambit Pragma.
Second Opinion closes out the day with news that the EU says Apple must pay Ireland $14.6 billion in back taxes, Uber hires a senior Target executive to lead its global operations and New Jersey Governor Chris Christie has veoted a minimum wage bill.
Rotunda Capital Partners has closed its refinancing of portfolio company Amware Fulfillment, a provider of customized warehousing and fulfillment solutions for small and medium-sized businesses in the U.S. No financial terms were disclosed. Livingstone served as adviser on the transaction. Capital Southwest Corp and Avante Mezzanine provided the financing.
Roundtree Automotive Group LLC and Lantern Capital Partners LP have formed Roundtree Capital Partners LLC, which will focus on buying car dealerships in the U.S. No financial terms were disclosed.
Meridian General Capital has acquired Anaheim, California-based PowderCoat Services, a production powder coater. No financial terms were disclosed.
Clayton, Dubilier & Rice has agreed to make a "significant" investment in Drive DeVilbiss Healthcare. Barclays, J.P. Morgan Securities LLC and Citi provided financial advice to CD&R on the transaction while Robert W. Baird & Co did likewise for Drive DeVilbiss Healthcare. Based in Port Washington, New York, Drive DeVilbiss Healthcare is a medical products maker.