Tikehau Capital, Bpifrance and minority investors provided another 33 million euros ($36.4 million) to ADDEV Materials to finance the acquisitions of Andpak and Zip-Chem. Andpak specializes in the packaging of chemicals products for aeronautics industry, while Zip-Chem develops and makes surface preparation, anti-corrosion, lubricants and cleaning products. Tikehau and Bpifrance previously invested 38 million euros in Addev in April.
Goettl Air Conditioning & Plumbing, a portfolio company of Baum Capital Partners, said Oct. 15 that it acquired Dutton Plumbing. Financial terms weren’t announced. Dutton Plumbing, of Simi Valley, provides plumbing and drain services to approximately 10,000 homeowners annually.
DMed Biopharmaceutical Co said it raised roughly $50 million in a Series B funding round led by Vivo Capital. Participating in the round were Legend Capital, Qiming Venture Partners and Lilly Asia Ventures. DMed is a clinical contract research organization that provides industry solutions to pharmaceutical and medical device companies in China and across the globe.
Everglades Equity LLC, a private equity firm from Brett Craig, has launched. The Miami PE firm will invest in lower middle market companies in sectors including distribution, facilities services, industrial services, and human capital management. Craig, who is Everglades’s managing partner, was most recently a principal with Hidden Harbor Capital Partners.
Blackstone Real Estate Income Trust and MGM Resorts are forming a Blackstone-led joint venture to buy the real estate assets of the Bellagio for $4.25 billion in a sale-leaseback transaction. The deal calls for MGM Resorts to lease the property from the joint venture and continue to manage, operate and be responsible for all aspects of the Bellagio on a day-to-day basis.
Apollo Global Management has made a roughly $5 billion offer for Tech Data Corp, Reuters reported. Tech Data, a U.S. information technology equipment distributor, has lower operating margins than some of its peers, the story said.
Marlin Equity Partners said Oct. 15 that it acquired a majority stake in Whitlock. Financial terms weren’t announced. Whitlock, of Richmond, Virginia, is a systems integrator and technology management firm that specializes in audiovisual and video collaboration solutions.
Revelstoke Capital Partners said Oct. 16 that it has invested in The Care Team. Financial terms weren’t announced. The Care Team, of Farmington Hills, Michigan, is a home health and hospice agency.
Parthenon Capital Partners, which has invested in Cayan and BillingTree, is apparently taking a stake in another payments company. The private equity firm is investing in Payroc, according to a filing on the FTC site. The Oct. 11 post did not disclose financial terms. M&A transactions, those valued at a minimum of $90 million or […]
Cetera Advisors LLC allegedly breached its fiduciary duty and defrauded its retail advisory clients when it failed to reveal conflicts of interests when it received compensation in the form of 12b-1 fees, revenue sharing, administrative fees and mark-ups, the SEC said an amended complaint. The regulatory is seeking an injunction, disgorgement of ill-gotten gains and is looking to recover over $21 million from Cetera, a broker-dealer backed by Genstar Capital. See the SEC’s amended complaint against Cetera here.
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Algolia said Oct. 15 that it raised $110 million in funding led by existing investor Accel. Salesforce Ventures and other firms also participated. Algoria is a Search-as-a-Service platform.
Broadridge Financial Solutions Inc said Oct. 15 that it acquired Appatura Inc. Financial terms weren’t announced. Appatura, formerly known as Data Communique, provides regulatory and marketing content management and automation.
KIND Healthy Snacks said Oct. 15 that it acquired Creative Snacks Co. Financial terms weren’t announced. Creative Snacks makes cluster-style snacks and trail mixes. Mars acquired a minority of KIND in 2017.
Lincolnshire Management Inc said Oct. 15 that it invested in Powerhouse and two related companies. This included Security Vault Works Inc and add-on One Source Security & Sound. Financial terms weren’t announced. Powerhouse provides recurring facilities maintenance services, while Security Vault installs self-service kiosks and automated teller machines mainly for financial institutions.
Goldcrest Farm Trust said that it second investment vehicle closed on more than $300 million in commitments. Goldcrest Farm’s first REIT raised $300 million. Goldcrest Farm Trust invests in U.S. farmland.
Hilton Grand Vacations Inc attracted first round bids from Apollo Global Management Inc and the Blackstone Group, Bloomberg reported. Apollo’s bid is valued the timeshare resort operator at about $40 a share, the story said.
Lee Equity Partners LLC said Oct. 15 that it acquired a majority stake in The Living Co. Financial terms weren’t announced. The Living Co, of Dallas, is provides furniture, fixtures, and equipment to off-campus student housing properties.