Nuvei said Aug. 14 that it closed its buy of SafeCharge International Group Ltd for $889 million. SafeCharge, of the U.K., is a payments company. Nuvei is backed by Novacap and Caisse de dépôt et placement du Québec. The deal was announced in May.
CityMD, which is backed by Warburg Pincus, has completed its merger with Summit Medical Group. The deal was announced in June.
Mobileum Inc, a portfolio company of Audax Private Equity, said Aug. 14 that it acquired WeDo Technologies. Financial terms weren’t announced. WeDo, of Lisbon, Portugal, provides of analytics-based roaming and risk management solutions.
Exxon Mobil is considering selling assets in the British North Sea and has held talks with a
number of North Sea operators in recent weeks to gauge interest, Reuters reported. The assets could fetch up to $2 billion, the story said.
Loan investors are fighting back against private equity attempts to get increasingly aggressive terms in financing their LBOs, Bloomberg reported citing a survey from Covenant Review. Several recent leveraged loans to finance buyouts, including for Whataburger Restaurants, Teneo Holdings, MyEyeDr and SnapAV, received major overhauls to investor protections known as covenants, the story said.
Roark Capital is weighing the sale of Driven Brands Inc, which could fetch as much as $2 billion, Bloomberg is reporting. Roark is talking to advisers about running a Driven Brands auction, the story said. Roark acquired Driven Brands, an automotive services franchiser, in 2015.
The technology for spray tanning has evolved to such an extent that users no longer need fear the dreaded orange hue, according to John S. Castle, president and CEO of Branford Castle. “If done right, the spray tan is better than a natural look,” said Castle. “It’s even, it’s beautiful. It’s a great look.” “There’s […]
Coller emerges as buyer on large Ares fund revamp; PE-backed WIRB-Copernicus gears up for sale; Vista Equity sells stake in Advanced to BC Partners
Council Capital said Aug. 13 that it sold its stake in EspriGas to an entity affiliated with Kaltroco. Financial terms weren’t announced. EspriGas, of Atlanta, is a medical and industrial gas company that uses a network business model to manage the gas supply chain.
H.I.G. Capital said Aug. 13 that it promoted Matt Hankins to managing director of the H.I.G. Advantage Fund.
Brookfield Business Partners is buying Genworth Financial’s majority stake in Genworth MI Canada Inc. (Genworth Canada). The purchase price is C$2.4 billion ($1.8 billion). Genworth Canada is the largest private sector residential mortgage insurer in Canada.
CIT Group Inc said Aug. 13 that it agreed to buy Mutual of Omaha Bank for $1 billion. The deal will be comprised mainly of cash and up to $150 million of CIT common stock. Mutual of Omaha, founded in 1909, insurance and financial products for individuals, businesses and groups throughout the United States.
Scout24 is exploring a sale or spin-off of its autos platform after activist investor Elliot called for the company to sell the business, Reuters is reporting. AutoScout24 could fetch up to 2.5 billion euros ($2.8 billion), the story said.
A unit of Temasek Holdings Pte has invested in Secretlab, the Singapore maker of chairs for players of electronic games, Bloomberg reported. Heliconia Capital Management Pte’s buy of a minority of Secretlab is valued at between S$200 million and S$300 million, the story said.
BC Partners is investing in Advanced. Financial terms weren’t announced. Vista Equity Partners, the seller, is continuing as an investor. Vista is selling about 50 percent of Advanced to BC Partners in a deal valued at about 2 billion pounds ($2.4 billion) including debt, the Financial Times reported. Advanced is a U.K. software company.
Cue Holdings Ltd said Aug. 13 that it completed a Series A round led by Anchor Equity Partners. Princeville Global participated in the financing which included founding investor KKR. Cue, of Shanghai, provides data-driven marketing insights and growth solutions to enterprises.
Blackstone said Aug. 12 that Limin Wang has joined the firm as a managing director on the quantitative research team in Blackstone Alternative Asset Management.
Verizon Communications agreed to sell Tumblr, the blogging website, to Automattic Inc, according to press reports. Financial terms weren’t announced but the Wall Street Journal said Tumblr fetched a “nominal amount.”