Becker Professional Education, a subsidiary of Devry Education Group, said May 14 that it agreed to buy the Association of Certified Anti-Money Laundering Specialists (ACAMS). The purchase price is $330 million. Warburg Pincus is the seller. ACAMS is an international membership organization that aims to enhance the knowledge and skills of anti-money laundering (AML) and financial crime prevention professionals. Partner William Kucera, along with associates Michael Weigel and Eric Tubbs, of Mayer Brown represented Becker on this deal. Buyouts Insider reported news of the auction in March.
Siris Capital Group LLC has agreed to buy Xura Inc for about $643 million. Siris Capital is paying $25 a share cash for Xura, which has a 45-day “go-shop” to solicit alternative offers. Xura, of Wakefield, Massachusetts, designs and sells communications software. Cerberus Business Finance is providing debt financing.
Jim Ford has joined Los Angeles 2024 as a Senior Advisor for Strategic Partnerships. Ford was previously a Managing Director with Oaktree Capital Management LP. Los Angeles 2024 is Los Angeles’ bid for the 2024 Olympic and Paralympic Games.
Shoes For Crews LLC said May 24 it has entered into a letter of intent to acquire the Mozo® Shoes brand. Financial terms weren’t announced. Chinnok Asia LLC is the seller. Mozo provides culinary footwear that aim to meet the demands of chefs in the kitchen and dining environments. Shoes For Crews is a CCMP Capital portfolio company.
Konfio said May 24 that it raised $8 million from the Accion Frontier Inclusion Fund managed by Quona Capital, QED Investors, Kaszek Ventures, and Jaguar Ventures. Konfio, of Mexico City, is an online lending platfor
TA Associates said May 24 it acquired a majority stake in Professional Datasolutions Inc. Financial terms weren’t announced. Temple, Texas-based PDI provides ERP software and services to the convenience retail and petroleum wholesale marketer industries. Kirkland & Ellis LLP served as legal counsel to PDI. Weil, Gotshal & Manges LLP served as legal counsel to TA Associates.
Jirnexu said May 24 that it raised $3 million in Series A funding led by DMP. Investors Celebes Capital, NTT DOCOMO Ventures, Nullabor, Tuas Capital Partners and Anfield Equities took part as well as private investor Steve Melhuish (CEO & Co-founder, PropertyGuru Group). Jirnexu, formerly Saving Plus, is a Southeast Asia fintech startup that provides financial comparison tools for consumers.
To start your Tuesday, we have news that Apple’s new MacBook Pro is rumored to have an OLED touch bar instead of function keys, a poll finds that a majority of Americans dislike both Hillary Clinton and Donald Trump and a 5,000 year old brewery has been unearthed in China.
MSouth Equity Partners has acquired Southern Air & Heat Holdings LLC, a portfolio company of Pulte Capital Partners LLC. Financial terms weren’t announced. Southern Air & Heat provides service, repair and new installation services to the heating, ventilation, and air conditioning market. Quarton International advised Pulte Capital.
OrbiMed said May 23 that it second Israel-focused VC fund closed with about $307 million in capital commitments. OrbiMed Israel Partners II will target all stages and sectors of the healthcare industry, with a focus on biopharmaceuticals, digital health, medical devices, and diagnostics companies in Israel. Where appropriate, Israel Partners II may co-invest with OrbiMed’s global private equity team.
The Carlyle Group said May 20 that Kewsong Lee, who is currently Deputy Chief Investment Officer for Corporate Private Equity, will now also supervise the Global Market Strategies segment. Mitch Petrick, a Carlyle MD, is stepping down from the position and become a Senior Advisor to the firm. Petrick intends to form his own firm, Carlyle said. Glenn Youngkin, in addition to his current role as President & COO, will now also supervise the Energy and Natural Resources group. Kenneth Hersh will become Deputy Chief Investment Officer for Energy and Natural Resources, reporting to Carlyle Chief Investment Officer Bill Conway.
To start your week, we have news that Bayer offers to buy Monsanto for $62 billion, Avant lays off nearly 7 percent of its work force and “Hamilton” refused to let in Chris Sacca, which caused him to scream repeatedly “Do you know who I am?”
Pennington Partners & Co has launched as a multi-family office that will provide advisory services to successful families who have built wealth through privately held businesses and real estate. Services include advising successful families who have built wealth through privately held businesses and real estate. Brian Gaister, formerly of Merrill Lynch and Morgan Stanley, and Rodd Macklin, with several years of experience as a CFO in the financial services industry, helped form Pennington Partners.
Supervalu Inc said May 23 that it completed an amendment of its existing $1.5 billion senior secured term loan agreement that will allow it to begin possibly spin off Save-A-Lot into a stand-alone, publicly traded company. The amendment requires that Save-A-Lot issue a minimum of $400 million of long-term debt and that Supervalu’s term loan balance be reduced by a minimum of $350 million. Supervalu is also required to retain a minimum equity stake in spun-off publicly traded Save-A-Lot. Supervalu is backed by Cerberus. Save-A-Lot is a discounted supermarket chain.
Correctional Medical Group Companies Inc, a portfolio company H.I.G. Capital LLC, invested in TransformHealthCS Inc. Statesboro, Georgia-based TransformHealthCS provides correctional healthcare services to county jails in Georgia and North Carolina. Transform is being re-branded as Southeast Correctional Medical Group.
Permira has acquired a majority of the shares of John Masters Organics Inc for about $336 million. John Masters owns organic personal care brand “John Masters Organics”, as well as Styla Inc. John Masters, the founder of JMO and Yoshimune Noda and Maiko Noda, the founders of Styla, will continue to be involved in the combined businesses.
KBR Inc said May 23 it agreed to buy Wyle Inc. The transaction price is $570 million. Court Square Capital Partners is the seller. El Segundo, California-based Wyle provides specialized engineering, and professional, scientific and technical services primarily to the U.S. federal government.
Equiteq has named David Jorgenson its CEO. He succeeds Paul Collins who will become Chairman of the board. Jorgenson joined Equiteq two years ago as Global Head of M&A. Other changes at Equiteq include: Nicodemo Esposito was promoted to MD, Head of M&A and Strategic Advisory North America, while Alex White has joined Equiteq as MD, Head of M&A and Strategic Advisory Europe.