Hamilton Lane said April 16 that Mike Woollatt has joined the firm as a principal on the co-investment and fund investments team. Hamilton Lane has also opened an office in Toronto, which Woollatt will lead. Woollatt was most recently a director of strategic partnerships at OMERS.
It was Andrew Rosen, Kainos Capital’s managing partner, and not Sarah Bradley, who pushed the consumer-focused private equity firm to begin fundraising efforts “as soon as possible,” according to court documents filed April 15 in Delaware chancery state court. Discussions for Kainos Fund III began in late June and early July 2018, well before Bradley discovered that Kainos executives had allegedly fraudulently deprived her of her 25 percent stake in Kainos Manager, the filing said. Bradley, in her answer to Kainos’ counterclaim, denied that she caused any “compensable harm” to Kaino with her lawsuit and that any “economic or reputational injury” to Kainos was caused by the defendant’s own conduct, the filing said. Bradley, who is still listed on the Kainos site as a partner, claimed in a Jan. 25 lawsuit that Kainos cofounders perpetrated a fraudulent scheme to steal her 25 percent stake in the firm’s investment manager, Kainos Capital.
Symplr said April 16 that it completed its buy of IntelliSoft Group. Financial terms weren’t announced. IntelliSoft, of Nashua, New Hampshire, provides medical credentialing, provider enrollment, and contract management software in combination with CVO services. Symplr is backed by Clearlake Capital Group and SkyKnight Capital.
EQT Partners added banks Goldman Sachs and Morgan Stanley to its lineup of banks advising on a review that could lead to an IPO, Bloomberg said. EQT is also considering selling a minority stake in the firm to a strategic investor, the story said.
Centerbridge Partners is considering options for Reddy Ice Holdings Inc, including a sale, Bloomberg is reporting. A process is expected in the second half, the story said.
Clearlake Capital has put Perforce Software up for sale and the process could fetch about $2 billion, Bloomberg reported. Clearlake has hired an adviser for the transaction, the story said. Perforce produces about $165 million in EBITDA, Bloomberg said.
Catalent to buy Paragon Bioservices Inc for $1.2 bln; LPs try to get used to rise of subscription lines of credit; Revelstoke’s Crossroads sale heads to first round
Catalent Inc said April 15 that it agreed to buy Paragon Bioservices Inc for $1.2 billion. The deal calls for Catalent to issue $650 million of convertible preferred stock to Leonard Green & Partners LP. Paragon Bioservices produces biopharmaceuticals and vaccines. Paragon investors include NewSpring Capital and Camden Partners.
Omni Ophthalmic Management Consultants, a portfolio company of NMS Capital, said April 15 that it acquired Ludwick Eye Center. Financial terms weren’t announced. Ludwick, of Chambersburg, Pennsylvania, is a regional provider of medical-surgical eye care services in Pennsylvania and Maryland.
Michael Gosk has joined General Atlantic as an operating partner. Gosk was previously vice president and chief tax officer at General Electric.
TA Associates said April 15 that it invested in Indira IVF. Financial terms weren’t announced. Indira IVF is network of in-vitro fertilization centers in India.
Signature Bank said April 15 that it formed a venture banking group to focus on serving venture capital firms and the portfolio companies in which they invest. Ken Fugate, a co-founder of Square, will lead the group. He is managing group director.
M/C Partners said April 15 that Travis Keller joined the firm as a partner. He was previously a director at Vilandrie & Co.
After failing in its bid to buy eFront, ION Investment Group is scooping up Allegro Development, four sources said. How much ION is paying is unclear. Vector Capital and Cerium Technology are the sellers. Barclay Capital advised on the Allegro sale, two of the sources said. The sale to ION has closed, the people said. […]
Are co-investments the next area of growth for secondary market? ; Bregal Fund II raises $650 mln; Martis Capital Fund III closes on $545 mln
American Media LLC said April 10 that it is exploring strategic options, including a sale, for brands National Enquirer (US and UK editions), Globe and National Examiner.
MTY Food Group said April 11 that it agreed to buy Papa Murphy’s Holdings Inc for $6.45 a share or about $190 million. Papa Murphy’s is a franchisor and operator of the Take ‘n’ Bake pizza brand and one of the largest pizza chains in the United States, that sells fresh, hand-crafted pizzas ready for customers to bake at home. Lee Equity Partners LLC took Papa Murphy’s public in 2014.
New Mountain Capital LLC said April 11 that its first net lease real estate fund closed on $533 million of equity capital commitments, including $447 million of third-party limited partner commitments and approximately $86 million from the GP. The target of New Mountain Net Lease Partners LP was $300 million to $350 million.