Nautic Partners LLC, Response Team 1, Antares Capital, Lone Star Capital, private equity, merger, M&A

Nautic walked away from Response Team 1 within months of recap: sources

Less than six months after receiving a large investment from Nautic Partners LLC, property-restoration company Response Team 1 was taken over by lenders Antares Capital and Lone Star Capital, according to three sources. RT1 failed to meet a performance/revenue target that was part of the Nautic recapitalization, one former executive at the company said. This tripped a loan covenant that prompted the lenders to […]


Blockchain raises $40 mln: Business Insider

Blockchain has raised $40 million in its second round of institutional funding led by Lakestar and GV, Google’s venture capital arm, Business Insider is reporting. Nokota Management and Digital Currency Group also took part in the investment, as did Blockchain’s existing investors Lightspeed Venture Partners, Mosaic Venture Partners, Prudence Holdings, Virgin, and Sir Richard Branson, the story said. Blockchain makes tools for people to use bitcoin and blockchain, Business Insider said.


Blackstone eyes PSP deal: NY Post

Blackstone has formed a bidding consortium that may pay $4 billion to buy half of Platform Specialty Products, the New York Post is reporting. The deal could provide a windfall for Bill Ackman, the hedge fund tycoon, whose Pershing Square holds a 14.5 percent stake in the chemicals giant and is PSP’s biggest shareholder, the NY Post said.


Silvernest raises $1.3 mln

Silvernest said June 22 that it raised $1.3 million in seed funding. Investors include venture capital and angel investors, such as Halogen Ventures, 1843 Capital, Rockies Venture Club, Investor’s Circle and 500 Startups. Silvernest, of Denver, provides an online roommate-matching service that pairs boomers, retirees, empty nesters and other aging adults with compatible long-term housemates.


Hilltop Private Capital and KCB Private Equity buy Spiral Binding

Hilltop Private Capital and KCB Private Equity have acquired Spiral Binding. Financial terms weren’t announced. Spiral, of Totowa, New Jersey, makes and distributes print finishing, graphic arts, and presentation equipment, supplies and services, including binding, laminating, paper handling, photo finishing and custom imprint services. TCF Funding and QS Strategies provided debt capital.


GTCR-backed Callcredit buys Confirma

Callcredit Information Group, a portfolio company of GTCR, has acquired the Confirma group of companies. Financial terms weren’t announced. Confirma group, of Madrid, include Confirma Sistemas and Soluciones Confirma, which specialize in fraud prevention and anti-money laundering (AML) software solutions. BDO Spain advised CallCredit while Écija was their legal adviser.


Sverica Capital buys iWave

Sverica Capital Management said June 21 that it has acquired iWave Information Systems Inc. Financial terms weren’t announced. Jamie Hill, iWave’s former CEO, is the seller. iWave, of Charlottetown, Prince Edward Island, Canada, bundles philanthropic and wealth data for researchers, fundraisers and other development professionals.


Lee Equity seeks buyer for Eating Recovery: WSJ

Lee Equity Partners has put Eating Recovery Center LLC up for sale, the Wall Street Journal is reporting. Moelis & Co is advising on the sale. Eating Recovery, of Denver, is an eating disorders treatment center. Eating Recovery is projected to produce about $45 million in 2017 EBITDA, the story said.


RoundTable Healthcare invests in Deerland Enzymes & Probiotics

RoundTable Healthcare Partners said June 20 that it invested in Deerland Enzymes & Probiotics. Financial terms weren’t announced. Deerland, of Kennesaw, Georgia, developes, formulates and makes enzyme- and probiotic-based dietary supplements. Sidley Austin LLP was the legal adviser to RoundTable. Preti Flaherty Beliveau & Pachios LLP and McCann Fitzgerald acted as legal advisors to Deerland and its shareholder.


Hamilton Lane to buy Real Asset Portfolio Management

Hamilton Lane said June 20 that it has agreed to buy Real Asset Portfolio Management LLC. Financial terms weren’t announced. Real Asset, of Portland, Oregon, is an investment management firm that manages or advises on approximately $3.8 billion of real asset investments.


Glencoe Capital buys Robert Rothschild Farm

Glencoe Capital Management LLC said June 19 that it has acquired Robert Rothschild Farm. Financial terms weren’t announced. Robert Rothschild, of Urbana, Ohio, specializes in gourmet sauces, dips and spreads.


Resurgens Tech, HarbourVest invest in Investment Metrics

Resurgens Technology Partners and HarbourVest Partners have invested in Investment Metrics. Financial terms weren’t announced. Investment Metrics, of Darien, Connecticut, provides investment performance analytics and reporting solutions for institutional consultants, asset managers and private wealth advisors. Marlin & Associates advised Investment Metrics.


Cosmo Tech raises $3 mln

Cosmo Tech said June 20 that it raised $3 million in follow-on funding led by Sofimac Partners. Also participating was new investor BNP Paribas and existing investor Aster Capital. Cosmo Tech, of Lyon, France and San Francisco, California, provides decision management solutions.


Providence Equity sells back stake in Soccer United Marketing

Providence Equity Partners has sold its stake in Soccer United Marketing (SUM) back to SUM. Financial terms weren’t announced. Providence invested in SUM in 2012, reportedly paying $150 million for a 25 percent stake. Soccer United Marketing is the marketing arm of Major League Soccer.


CCMP, MSD Partners to buy Hayward Industries

CCMP Capital Advisors LP and MSD Partners have agreed to buy Hayward Industries Inc. Financial terms weren’t announced. Alberta Investment Management Corp is also investing. Haywood, of Elizabeth, New Jersey, makes residential and commercial pool equipment and industrial flow control products. MSD manages the capital of Michael Dell and his family. Bank of America, Jefferies, Morgan Stanley, and Nomura are providing the financing.


Falcon Group secures $100 mln from KKR credit

Falcon Group said June 19 that it secured $100 million in funding from KKR’s credit platform. Falcon Group provided financing for mid-cap companies, operating in the Middle East, Asia, and Europe, as well as Australia and New Zealand.


Stevenswood Trade Centres buys Sameday Holdings

Stevenswood Trade Centres Ltd, a portfolio company of Cairngorm Capital Partners LLP, has acquired Sameday Holdings Ltd. Financial terms weren’t announced. Sameday operates a network of seven counters in the west of England, distributing windows, doors and conservatory roofs to the installer market. Clydesdale and Yorkshire Bank Group provided working capital facilities. PwC provided financial and tax advice to Stevenswood and Cairngorm Capital, while Bond Dickinson acted as their attorney. Napthens provided legal advice to Sameday.