Nearly three years after buying AssetMark Financial Holdings Inc, Huatai Securities has taken the wealth manager public. Shares of AssetMark surged 18.82 percent, or $4.14, in late afternoon trading Thursday to $26.14. AssetMark raised $275 million late Wednesday when it priced its IPO at 12.5 million shares at $22 each, above its $19 to $21 […]
Providence collects close to $8B in double fundraise; CD&R’s Agilon Health weighs IPO; Charlesbank invests in GTCR’s Park Place Tech
John McNally has joined NFP’s M&A Transaction Risk Practice Group as national practice leader. NFP is backed by Madison Dearborn Partners.
Arsenal Capital Partners said July 18 that it agreed to buy Revolution. Financial terms weren’t announced. Revolution, of Little Rock, Arkansas, provides sustainable, closed-loop plastic products serving the agricultural, consumer, and industrial markets.
Wealth Enhancement Group, a Lightyear Capital portfolio company, said July 18 that agreed to buy AEPG Wealth Strategies. Financial terms weren’t announced. AEPG, of Warren, New Jersey, is an RIA with more than $1 billion in combined client assets.
Frontline Education said July 18 that it agreed to buy Perennial EdTech from Alpine Investors. Financial terms weren’t announced. Perennial EdTEch is a group of education software companies.
AE Industrial Partners LP said July 18 that it agreed to buy Columbia Helicopters. Financial terms weren’t announced. Nancy Lematta, the majority owner, is retaining a stake. Columbia, of Aurora, Oregon, provides heavy-lift rotorcraft services with manufacturing and MRO capabilities.
CVC Capital Partners said July 18 that it closed its latest strategic opportunities fund on 4.6 billion euros ($5.16 billion). The target for CVC Strategic Opportunities II was 4 billion euros ($4.48 billion). SO II invests in opportunities across Western Europe and North America which fall outside CVC’s traditional private equity strategies. CVC Strategic Opportunities I collected 3.9 billion euros.
General Electric Co said July 17 that agreed to sell 80 percent of its solar energy business to BlackRock Real Assets. GE will own 20 percent of Distributed Solar Development, which focuses on solar and storage solutions for the commercial industrial and public sectors. Financial terms weren’t announced.
Permira is in advanced talks with GHO Capital to buy Quotient Sciences, Bloomberg reported. The deal values Quotient, a drugmaker, at about 600 million pounds ($745 million), the story said.
Bain Capital is near a deal to buy a minority of the combined Zelis Healthcare and RedCard, Bloomberg reported. Parthenon Capital is merging Zelis and Redcard, the story said. The deal would value the combined Zelis-RedCard at $6 billion, Bloomberg said.
Kersia, an Ardian portfolio company, said July 18 that it acquired Choisy Laboratories. Financial terms weren’t announced. The Trudeau family and Champlain Financial Corp were the sellers. Choisy, of Canada, develops and makes chemical, biotechnological and biosecurity hygiene solutions.
TravelPerk said July 18 that it raised an additional $60 million to bring its Series C round to $104 million. The Series C extension included participation from existing investors Kinnevik, partners of DST Global, Target Global, Felix Capital, Sunstone, and LocalGlobe. TravelPerk is a business travel platform.
Fresh Direct Produce Ltd, a portfolio company of HKW, has acquired Emperor Specialty Foods. Financial terms weren’t announced. Emperor, of Richmond, British Columbia, distributes mushrooms, pears, and other specialty fruits and vegetables.
Arcline Investment Management said July 18 that it agreed to buy the Reciprocating Compression division of Baker Hughes, a GE company. Financial terms weren’t announced. The Reciprocating Compression division makes and services compression and engine systems that are used in a variety of applications, including the transmission of natural gas across domestic and international pipelines.
World Fuel Services Corp has put Multi Service Technology Solutions, or MSTS, up for sale, three sources said. Credit Suisse is advising on the process, the people said. Founded in 1979, MSTS is a B2B payments and credit solutions provider for companies in the transportation, manufacturing, retail and ecommerce industries. MSTS, of Overland Park, Kansas, […]
Curaleaf Holdings Inc said July 17 that it agreed to buy GR Companies Inc, or Grassroots, for about $875 million in cash and stock. Grassroots, of Chicago, grows, processes and sells medical cannabis. In March, the company raised $90 million of VC funding, in the form of convertible debt, from undisclosed investors, PitchBook said.
Blackstone said July 17 that Gabriel Sod Hoffs has joined Blackstone Alternative Asset Management as a managing director and head of emerging markets and global macro strategy. Sod Hoffs previously worked for Caxton Associates where he was a portfolio manager focusing on emerging markets.