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In a hot market for wealth managers, AssetMark’s IPO rises

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 […]

McNally joins NFP

John McNally has joined NFP’s M&A Transaction Risk Practice Group as national practice leader. NFP is backed by Madison Dearborn Partners.

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Arsenal Capital to buy Revolution

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.

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AE Industrial to buy Columbia Helicopters

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.

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CVC Strategic Opportunities II raises 4.6 bln euros

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.

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GE to sell 80 pct of solar business to BlackRock

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.

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Bain near stake buy of merged Zelis, Redcard: Bloomberg

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.

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Ardian-backed Kersia buys Choisy Laboratories

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.

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TravelPerk raises another $60 mln

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.

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Fresh Direct Produce buys Emperor Specialty Foods

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.

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Arcline Investment to buy Baker Hughes’ Reciprocating Compression division

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.

Truck passing through tunnels
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World Fuel Services seeks buyer for MSTS

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, […]

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Curaleaf to buy Grassroots for $875 mln

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.

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Sod Hoffs joins Blackstone Alternative Asset Management

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.