Iris Dorbian
An investor group led by Siris Capital Group LLC has closed its previously announced buy of Digital River Inc for about $840 million. Based in Minneapolis, Digital River is a provider of commerce-as-a-service solutions.
Babson Capital Management has provided undisclosed funding to back Accruent LLC's buy of Boston-based VFA Inc, a provider of solutions for facilities' capital planning and asset management. Accruent is owned by TA Associates.
Altamont Capital Partners has acquired Cotton Patch Cafe LLC. No financial terms were disclosed. Piper Jaffray & Co. and Locke Lord LLP advised Cotton Patch on the transaction while Ropes & Gray LLP advised Altamont. Cotton Patch is a restaurant chain with locations in Texas, Oklahoma and New Mexico.
Ardian has entered into exclusive talks to buy Siaci Saint Honore Group, a France-based provider of insurance brokerage and employee benefits services. No financial terms were disclosed. As a result of the acquisition, the company's management and employees will hold a 15 percent stake in Siaci Saint Honore while Edmond de Rothschild will retain a 20 percent stake.
Oaktree Capital Management LP has acquired Hess Corp's stake in HETCO, a marketer and trader of energy commodities. No financial terms were disclosed. As a result of the transaction, HETCO will change its name to Hartree Partners LP.
TPG has agreed to buy Pharmatech from Actavis plc. No financial terms were disclosed for the transaction that is expected to be completed by the middle of this year. Pharmatech specializes in pharmaceutical R&D and manufacturing.
Carrick Capital Partners has closed its second growth equity fund at $275 million. The target was not named.
First Read closes out the week with arctic chill and news Lyft seeks another $250 mln, Costco plans on ditching AmEx cards in U.S. stores next year and how to get Silicon Valley anti-vaxxers to change their minds (with science, stupid).
In Second Opinion, Expedia plans on buying Orbitz for $1.3 billion, ex-Yahoo CEO says Jon Stewart's brand is worth $100 million and mazel tov, Amanda Knox is reportedly engaged to a childhood friend.
LSO, a portfolio company of Eagle Merchant Partners, has bought Express Courier International. No financial terms were disclosed. Based in Nashville, Express is a same-day carrier in the Southwest and Mid-South regions.