Troy Clay, Potawatomi Indians, Indian tribe, private equity, family office

Mno-Bmadsen looks to invest for Potawatomi Indians of Michigan

Mno-Bmadsen may invest like a private equity firm, and even use all the buzzy words that PE executives do, but the tribal office, which represents the investments of the Potawatomi Indians of Michigan, doesn’t consider itself a buyout shop. “We buy, hold and grow companies,” said Troy Clay, Mno-Bmandsen’s president and CEO. ‘That’s essentially what […]

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Genstar-backed Mercer Advisors buys Financial & Investment Management

Mercer Advisors Inc, a portfolio company of Genstar Capital, has acquired Financial & Investment Management Group Ltd. Financial terms weren’t announced. Financial & Investment Management, of Traverse City, Michigan, is wealth management RIA serving over 1,500 mass affluent and high net worth clients.

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Intel leads $75 mln round for Habana Labs

Habana Labs Ltd said Nov. 15 that it raised $75 million in a B round led by Intel Capital. Also participating were by WRV Capital, Bessemer Venture Partners, Battery Ventures and others, including existing investors. Habana Labs is a fabless semiconductor company located in Tel-Aviv, Israel and San Jose, California.

SRS Acquiom, Lovell Minnick Partners, private equity, fintech, asset management, escrow, financial services, m&a, merger
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Lovell Minnick, once an SRS client, now an owner

SRS Acquiom has provided professional and technical services to some of the biggest names in private equity and venture capital. Now, SRS finds itself owned by one of its customers. Lovell Minnick Partners has acquired a majority of SRS. Terms weren’t disclosed. The deal closed last week, said Steve Pierson, a Lovell Minnick managing partner. […]

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Vestar Capital invests in IRI

Vestar Capital Partners is investing in Information Resources Inc. Financial terms weren’t announced. New Mountain Capital is the seller. Once the deal closes, New Mountain and Vestar will jointly govern IRI. IRI, of Chicago, provides data and predictive analytics for companies in consumer goods, OTC health care, retail, financial services, and media. Kirkland & Ellis served as legal counsel to Vestar. Evercore, Morgan Stanley, and Jefferies acted as financial advisor and Fried Frank served as legal counsel to New Mountain and IRI. Jefferies Financial Group, Nomura Securities and Ares Management provided financing.

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Goldman Sachs to invest in TBM: Bloomberg

Goldman Sachs Group, which is looking to make 10 to 15 investments in Japanese startups through 2019, is buying a stake in TBM Co, Bloomberg is reporting. TBM is known for its technology that turns limestone into paper; it is seeking to raise 3.1 billion yen ($27 million), the story said.

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Clearlake Capital buys TEAM Technologies

Clearlake Capital Group said Nov. 15 that it acquired TEAM Technologies Inc. Financial terms weren’t announced. Riverside Co is the seller. TEAM Technologies, of Morristown, Tennessee, makes dental and cosmetic tools.

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PE HUB First Read

To start your morning, Uber reported a $1.1 billion quarterly loss, Facebook has cut ties with Definers Public Affairs and the U.S. Army is forming a “Fortnite” team to help with recruitment.

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PE HUB Wire Highlights, 11.14.18

Goldman is lead buyer of CDPQ’s billion-plus PE portfolio; FleetCor vies for Western Union’s business-payments arm; PE’s latest frontier? U.S. building products

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General Atlantic bids for Premiership Rugby: Financial Times

General Atlantic has joined the race to buy a stake in Premiership Rugby, which has already rejected a 275 million pound majority offer from CVC, the Financial Times said. GA’s offer came after other groups also expressed interest, including CVC, the story said. It was unclear whether GA’s offer was higher than CVC’s or for a majority or minority stake.

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WindRose Health recaps Traditions Behavioral Health

WindRose Health Investors LLC has invested in Traditions Behavioral Health through a recapitalization. Financial terms weren’t announced. Traditions Behavioral Health, of Napa, California, provides permanent outsourced physician psychiatric services to institutional and community-based programs.

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Wind Point-backed Vee Pak buys Cosmetic Essence Innovations

Vee Pak LLC, a portfolio company of Wind Point Partners, has acquired Cosmetic Essence Innovations LLC. Financial terms weren’t announced. Cosmetic Essence Innovations, of Holmdel, New Jersey, provides product development, specialty contract manufacturing, and outsourced service solutions to the beauty and personal care industry. Lazard Middle Market served as financial adviser to Vee Pak, while Winston & Strawn and Kirkland & Ellis acted as legal counsel to Vee Pak and Wind Point. Houlihan Lokey was financial adviser to CEI and Morrison Cohen was legal counsel.

LaSalle becomes Encore+ sole manager

LaSalle Investment Management said Nov 14 that it is now the sole manager of Encore+, the open-ended Continental European real estate fund. Aviva Investors and LaSalle had jointly managed the fund for the last 12 years. David Ironside has assumed the role of fund manager for Encore+, while Marianne Hemon-Laurens will be the deputy fund manager.

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Automox raises $9.3 mln

Automox said Nov. 13 that it raised $9.3 million in a Series A round led by TechOperators. Also participating in the round were CRV, BlueNote Ventures and Tom Noonan as well as other prior investors. Automox, of Boulder, Colorado, provides cloud-based patching and configuration management solutions.

FleetCor, Western Union, payments, fintech, private equity, merger, M&A
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FleetCor vies for Western Union’s business-payments arm

Western Union’s sale of its business-payments unit has hit the final round, three sources said. Citi is advising on the process, two of the sources said. Western Union’s B2B unit could fetch as much as $600 million, the people said. The Western Union business helps small and midsized businesses in the U.S. carry out transactions […]