Iris Dorbian
Apex Tool Group LLC, a portfolio company of Bain Capital, has completed its acquisition of Shanghai Yecen Auto Technology Ltd, a China-based car repair company. No financial terms were disclosed.
Seacoast Capital has recapitalized Amerit Fleet Solutions. No financial terms were disclosed. Headquartered in Walnut Creek, California, Amerit is a fleet maintenance services provider.
Dunedin has acquired a "significant" minority stake in Blackrock Programme Management, a London-based provider of construction consulting services. No financial terms were disclosed.
GridLiance GP LLC and Blackstone Energy Partners have launched GridLiance, an electric transmission company focused on public power. No financial terms were disclosed.
TowerBrook Capital Partners LP has agreed to buy fashion retailer J.Jill. The sellers are Arcapita and Golden Gate Capital. No financial terms were disclosed. The transaction is expected to be completed in the second quarter of this year. Paula Bennett will continue as president and CEO of J.Jill. Morgan Stanley and Houlihan Lokey provided financial advice to J.Jill on the deal while Macquarie Group was financial advisor to TowerBrook Capital Partners.
Stone Point Capital has led a majority recapitalization of Black Mountain Systems, a provider of data and process management solutions for financial firm and asset managers. No financial terms were disclosed. SunTrust Robinson Humphrey advised Black Mountain Systems on the transaction.
First Read starts your day with news of IBM investing $3 billion in a new internet of things unit, two former federal agents are charged with stealing bitcoin during a Silk Road probe and Cablevision is planning on making a $1 offer for the New York Daily News. (Yes, you read that correctly--it's $1).
Investcorp has agreed to buy Nobel Learning, a provider of private preschool through high school education in the U.S. The seller is Leeds Equity Partners. No financial terms were disclosed.
Lovell Minnick Partners LLC has acquired a majority stake in J.S. Held LLC, a provider of outsourced consulting services for its insurance clients. No financial terms were disclosed. In addition to the investment, construction consulting firm Held Enloe & Associates LLC will merge with J.S. Held. Deloitte Corporate Finance LLC was financial advisor to J.S. Held and Held Enloe on the transaction while William Blair & Company LLC was financial advisor to Lovell Minnick.
In Second Opinion, Connecticut is reported to ban state-funded travel to Indiana over anti-gay law, Jay-Z relaunches new Tidal music service and George Soros says he will invest $1 billion in the Ukraine if the West helps.