Iris Dorbian
Victory Park Capital has provided a $50 million credit facility to Applied Data Finance. In addition to the credit facility, VPC will also make an undisclosed equity investment in ADF. Based in New York City, ADF is an early-stage provider of online consumer credit.
EQT Infrastructure II Fund has agreed to buy El Segundo, California-based WASH Multifamily Laundry Systems, a provider of laundry services to multifamily apartments and universities. The seller is CHS Capital LLC. No financial terms were disclosed. Weil, Gotshal & Manges LLP, Bain & Company and KPMG advised EQT Infrastructure II on the deal while Moelis & Company LLC, William Blair & Co and Kirkland & Ellis LLP advised WASH. Morgan Stanley, Goldman Sachs and Natixis will provide financing for the transaction.
First Read kicks off your week with news of Hillary Clinton making official her 2016 presidential bid, Chinese hackers reportedly spied on Southeast Asia for a decade and Apple Watch's U.S. pre-orders hit one million on launch day,
In Second Opinion, GE plans on divesting most of its finance unit as it continues to reorganize, GoDaddy buys marketplace startup Elto and sorry Superman, but Batman is dominating comic book sales on eBay.
Inverness Graham has sold AdvancedCath to TE Connectivity Ltd for $190 million in cash. AdvancedCath is a maker of advanced catheter systems.
Drive Medical has acquired Columbia Medical Manufacturing LLC from Triton Pacific Capital Partners LLC. No financial terms were disclosed. Columbia is a maker of rehabilitation products for children with disabilities.
Harman International Industries Inc has closed its buy of Symphony Teleca from Symphony Technology Group. No financial terms were disclosed. Based in Mountain View, California, Symphony Telecia is a provider of software engineering and integration services.
ProQuest, which is backed by ABRY Partners and Goldman Sachs, has bought SIPX. No financial terms were disclosed. Based in Palo Alto, California, SIPX is a provider of digital course materials that addresses copyright and costs concerns for universities. SIPX's backers included Mohr Davidow Ventures, XSeed Capital, Stanford University and Ulu Ventures.
Ryan Kavanaugh's family investment office Knight Global has acquired Bay Mutual Financial. No financial terms were disclosed. BMF is a financial advisory firm.
Riverstone Holdings LLC has made a commitment to invest up to $300 million in Meritage Midstream Services III LP. Based in Denver, Meritage is a newly-formed midstream services provider that has an initial focus on Western Canada.