Iris Dorbian
AMN Healthcare Services, which is owned by Welsh, Carson, Anderson & Stowe, has agreed to buy Onward Healthcare, Locum Leaders and Medefis from OGH for $82.5 million. The transaction is expected to be completed by mid-January 2014. Robert W. Baird advised OGH on this deal. Both Onward Healthcare and Locum Leaders are temporary healthcare staffing firms while Medefis is a provider of vendor management services technology for hospitals and healthcare organizations.
Advent International has agreed to acquire Allied S.A. from One Equity Partners and its other minority shareholders. No financial terms were disclosed for the transaction, which is expected to close in the first quarter of 2015. Also, as a result of the transaction, the Radomysler family, which founded the company, will retain a "significant" minority stake and continue to run Allied. Based in Brazil, Allied is a provider of tech products.
Onyx Renewable Partners, a portfolio company of Blackstone, has hired Daniel J. De Boer as senior vice president of finance. Previously, De Boer worked at D.E. Shaw & Co.’s private equity group and D. E. Shaw Renewable Investments. Onyx provides solutions for the development and operation of North American solar and wind projects.
Real estate investment firm Sterling Organization has raised $311 million for its second fund, beating its $275 million target. Sterling Value Add Partners II's LPs include domestic endowments, foundations, private and public pension plans, fund of funds and family offices. The pool will focus on shopping centers, power centers, enclosed malls, mixed-use properties and urban retail assets in major markets in the U.S.
Capital Dynamics has closed its clean energy and infrastructure fund at $462.5 million. The CEI Fund, which has already made nine investments in the U.S. and the UK, will continue to target areas such as biomass, landfill gas, small hydropower, solar, wind and gas-fired power.
Castanea Partners has promoted Juan Marcos Hill to partner. Hill first joined Castanea as an associate in 2002. Prior to joining the firm, Marcos worked at Bain & Company.
First Read takes you into the homestretch with news Sony has pulled the plug on "The Interview" after threats, New York bans fracking and cigar connoisseurs are applauding the move to normalize U.S.-Cuba relations although institutional investing in Cuba may be years away.
Flexpoint Ford has agreed to sell its minority stake in American Strategic Insurance Corp. to The Progressive Corp. No financial terms were disclosed. As a result of the transaction, Progressive will have a controlling stake in ASI. Headquartered in St. Petersburg, Florida, ASI provides insurance for homeowners. The deal is expected to be completed in the second quarter of 2015.
ALEX BRANDS, a portfolio company of Propel Equity Partners, has acquired toy brand Shrinky Dinks. No financial terms were disclosed.
General Atlantic has promoted Graves Tompkins to managing director and Chris Caulkin, Tony Li, Peter Munzig and Paul Stamas to principal. Tompkins and Stamas are based in New York while Caulkin, Li and Munzig are working in the firm's London, Hong Kong and Palo Alto, Calif. offices, respectively.