Cairngorm Capital said May 23 that Neil McGill was named an investment director. McGill joins from BDO where he was head of the M&A advisory practice in Scotland.
High Road Capital Partners has acquired Storage Battery Systems LLC. Financial terms weren’t announced. Supply Chain Equity Partners is the seller. Storage Battery, of Menomonee Falls, Wisconsin, assembles and distributes branded, rechargeable industrial battery solutions and test equipment for motive, stationary and standby power applications.
Blackstone and Saudi Arabia agreed to launch a $40 billion investment vehicle to invest in infrastructure projects, mainly in the United States. The Public Investment Fund of Saudi Arabia has agreed to a $20 billion anchor commitment to the vehicle. Another $20 billion will be raised from other investors.
HGGC LLC has agreed to buy Nutraceutical International Corp in a deal valued at about $446 million, including debt. Terms of the deal call for Nutraceutical stockholders to receive $41.80 in cash (without interest) for each outstanding share. The deal includes a 60-day “go-shop” period where Nutraceutical can actively solicit, evaluate and potentially enter into negotiations with alternative proposals. Nutraceutical, of Park City, Utah, makes, markets and distributes branded nutritional supplements and other natural products sold primarily to and through domestic health and natural food stores.
Americold, backed by billionaire West Coast investor Ron Burkle, is exploring a sale or IPO, the Wall Street Journal reported. Americold, which owns temperature-controlled warehouses, could be valued at more than $3 billion, or even $4 billion, the story said. The company is working with bankers to sound out interested parties while also considering a listing. Americold is a real-estate investment trust owned by Yucaipa Cos; it shelved a prior IPO attempt in 2010.
Partners Group has agreed to buy SPi Global. Financial terms weren’t announced. CVC Capital Partners is the seller. SPi, of Manila, provides outsourced services to education, science, technical and medical research publishers worldwide.
Ardian has agreed to acquire a stake in LBC Tank Terminals from State Super and Sunsuper. Financial terms weren’t announced. LBC, of Belgium, operates bulk liquid storage facilities, predominantly for chemical & base oil products. Once the sale closes, Ardian will hold a 35 percent stake in LBC. Current shareholders APG and PGGM will retain 32.5 percent each.
MortgageGym said May 22 that it raised 2 million pounds ($2.6 million) in seed funding. Investors include Gaby Salem, of Wharton Asset Management, China Pacific Capital and Trifecta Capital. MortgageGym, of London, is a regulated mortgage robo-adviser.
EcoIntense GmbH said May 22 that it raised 22 million euros ($24.6 million) from One Peak Partners and Morgan Stanley Expansion Capital, the growth-focused private investment team within Morgan Stanley Investment Management. Financial terms weren’t announced. BBAF Business Angels Fondsgesellschaft and Wecken & Cie sold their stakes. EcoIntense, of Berlin, provides software for health and safety, environmental management and sustainability solutions. EcoIntense received legal advice from Gerhard Wacker (PwC Legal), while One Peak Partners and Morgan Stanley Expansion Capital worked with law firms Vogel Heerma Waitz and Cooley LLP.
Pfingsten Partners LLC said May 16 that it acquired Sign-Zone LLC. Financial terms weren’t announced. Sign-Zone, of Brooklyn Center, Minnesota, provides table covers, retractable banners, event tents, sail signs, floor displays and other displays. HarbourVest Partners co-invested in the deal. Paul Hastings served as legal advisor to Pfingsten. Quetico Partners LLC served as financial advisor to Sign-Zone.
Silverfleet Capital has made four new hires. They include: Johan Boork, Jan Kux, Guntram Kieferle and Constance d’Avout.
Hancock Capital Management added six investment professionals to its leveraged senior loan platform. They include: Eric Barton, Jeff Bottcher, Ryan Reko, Patrick Kilrea, Brian Cihlar and Conner Moriarty.
Sharp Corp said on Thursday it would invest up to $1 billion in SoftBank Group’s planned $100 billion Vision fund and that it aims to tap advanced technologies through the investment, Reuters reported.
Vesalius Biocapital said May 18 that a first close of its third fund has secured more than 65 million euros ($72.3 million) in commitment. Vesalius Biocapital III has a 150 million euro ($167 million) target. Vesalius Biocapital III will focus on later-stage European companies in drug development, medtech, diagnostics and eHealth / mHealth.
Alion Science and Technology, a portfolio company of Veritas Capital, said May 17 that it named Steve Schorer its president and CEO effect May 19. Dr. Bahman Atefi, who has served as president and CEO since 2002, will assume the role of vice chairman.
Nautic Partners LLC said May 18 that it agreed to buy Endries International Inc and certain Endries related affiliates from Ferguson Enterprises and its affiliates. Financial terms weren’t announced. Endries, of Brillion, Wisconsin, distributes fasteners and Class-C parts serving industrial Original Equipment Manufacturers worldwide.
QASymphony said May 18 that it has raised $40M in Series C funding led by Insight Venture Partners. QASymphony, of Atlanta, is agile software company that provides enterprise test case management and exploratory testing solutions for development and QA teams.
Prostar Capital Ltd said May 18 that it acquired over 95 percent of the shares of Kyungnam Energy Co Ltd. Existing controlling Kyungnam Energy stakeholders were the sellers. Kyungnam Energy, of Seoul, is an independent, pure-play city gas distributor in South Korea.