Iris Dorbian
Ares Management LPC has closed its third oversubscribed European direct lending fund at a hard cap of 2.5 billion euros (about $2.8 billion), beating its initial target of 2 billion euros ($2.2 billion).
Ideal Image, a provider of aesthetic treatment services, has named Deborah G. Ellinger as president and CEO. Her appointment begins later this month. Ellinger's past senior leadership roles include serving as chairman and CEO of The Princeton Review and CEO of Wellness Pet Food. Ideal Image is backed by L Catterton.
Squadron Capital LLC has acquired Waterbury, Connecticut-based Forum Plastics Inc, a maker of thermoformed medical plastic products. No financial terms were disclosed. P&M Corporate Finance advised Squadron on the transaction.
First Read closes out your week with news Verizon gets outbid for Yahoo, Tom Perkins dies and Blackstone chief Schwarzman, a major GOP donor, skips NYC fundraiser for Trump.
WorkForce Software, which is backed by Insight Venture Partners, has acquired Workplace, an employee scheduling service for retail and hospitality. No financial terms were disclosed. In addition to the transaction, David Farquhar, CEO of Workplace, will become WorkForce Software's chief operating officer.
Las Olas Venture Capital has hired Nate Vasel as an associate. Previously, Vasel worked at Thompson Street Capital Partners where he was also an associate.
Huron Capital has made an undisclosed investment in Good Sportsman Marketing LLC. Based in Dallas, GSM is a provider of branded hunting accessories.
Brean Capital has named Christopher Hogg as managing director and capital markets head for both debt and equity transactions. Hogg's work background includes serving as product development head and also FIG capital markets head at Goldman Sachs. He has also worked at Bank of America/Merrill Lynch, Macquarie Capital and InCapital.
Southfield Capital has closed its sale of BioPharm Communications to Omnicom Health Group. No financial terms were disclosed. Petsky Prunier served as financial adviser to BioPharm on the deal. Based in New Hope, Pennsylvania, BioPharm is a communications agency for pharmaceutical and biotech clients.
Carlyle-owned 1insurer, a provider of software for the policy and claims insurance sector, has named Yogesh Shinde as chief technology officer. Previously, Shinde worked at OptumInsight, which is part of the UnitedHealth Group. There he led the development of the company's tech teams and its software portfolio.