Home Authors Posts by Robert Daniel

Robert Daniel

SparkCognition, the Austin, Texas, producer of cognitive security analytics systems, closed a $6 million oversubscribed Series B funding. New investors included CME Group’s CME Ventures as well as Verizon Ventures. Current investors participating were Entrepreneurs’ Fund and Alameda Ventures. SparkCognition says it has developed machine-learning technology that models physical and virtual assets, learns from data and derives insights to protect those assets. The tech allows “for more accurate risk mitigation and prevention policies to intervene and avert disasters,” the company said.
BlackArch Partners, the Charlotte, North Carolina, middle-market investment bank, tapped Grant Hamilton as managing director and head of the firm’s building-products industry practice. For more than a decade, he’s been advising on middle-market M&A, emphasizing the building-products and diversified-industrials sectors, BlackArch said in a statement. Hamilton and a number of BlackArch senior bankers worked previously at Edgeview Partners, which Piper Jaffray acquired in 2013.
Council Capital, the Nashville healthcare-focused private equity firm, named Grant Jackson managing partner. Jackson had joined the firm in 2008 as a general partner and had effectively assumed the MP’s role in October 2014. He led the closing of the firm’s third private equity fund, which closed two weeks ago on more than $150 million. Jackson has 15 years of experience in healthcare PE at all levels, including company directorships and deal sourcing through to exits. Council Capital, currently managing about $300 million, makes control and minority investments in healthcare companies, targeting those with enterprise values of $10 million to $50 million.
RealtyShares, the San Francisco online marketplace for real estate investing, named Arash Sotoodehnia chief credit officer, responsible for managing the firm’s risk analytic framework, policies and guidelines. Sotoodehnia was previously Citi Mortgage’s head of risk policy and controls; his resume also includes tenures with Ally Financial and Fannie Mae.
Transpay, the New York cross-border payments platform, named Mike Carlo global head of travel payments. Carlo had been head of travel solutions at Wex Inc and global market leader for travel at GlobalCollect/Ingenico. At Transpay he’ll oversee expansion of the company’s travel-industry solutions. Transpay is backed by GCP Capital Partners, the $1.8 billion New York private equity fund led by top investors in the payments industry.
Advent International, the Sao Paulo, Brazil, private equity investor, agreed to acquire Viakem SA, the Mexican crop-protection-chemicals producer. Terms weren’t disclosed. In a statement, Advent said it’s invested in more than 30 chemicals companies worldwide over 25 years. Its recent investments in the sector include Allnex, GTM, Maxam, Mondo Minerals, Oxea and H.C. Starck. Galicia Abogados was legal adviser to Advent while Santos-Elizondo-Cantu-Rivera Gonzalez-de la Garza-Mendoza S.C. provided legal advice to Viakem.
NGL Energy Partners LP, the Tulsa, Oklahoma, energy firm, formed a partnership with funds managed by Oaktree Capital Management, the Los Angeles investment manager. Under the terms, NGL will issue $200 million of 10.75% Class A convertible preferred units to Oaktree. Oaktree will acquire 16.6 million preferred units for $12.03 each as well as 3.6 million warrants, which are subject to certain vesting and exercise terms. NGL expects to use the proceeds to repay borrowings outstanding on its revolving credit facility. It said it may reborrow those funds to finance capital expenditures and other matters. RBC Capital Markets, UBS Investment Bank and Deutsche Bank Securities were placement agents and financial advisers to NGL. Andrews Kurth LLP was legal counsel to NGL. Oaktree took financial advice from Barclays and legal advice from Vinson & Elkins.
Sysdig, the San Francisco producer of performance-management solutions to monitor, alert and troubleshoot in a microservices-friendly architecture, raised $15 million of Series B funding. Participating were current investors Accel and Bain Capital Ventures. Sysdig said it would use the funds to further build out its core technology and grow its operations and support infrastructure. Salil Deshpande, managing director at Bain Capital Ventures, is joining Sysdig’s board.
Allergan, the Dublin pharmaceutical firm, acquired closely held Topokine Therapeutics, the Boston biotech developing topical medicines to reduce fat. The deal price was $85 million up front plus payments based on development and sales of XAF5, a late-stage-development drug that treats bags under the eyes, formally steatoblepharon. Topokine’s investors include Schooner Capital, a Boston firm with […]
Babson Capital Management, the Charlotte, North Carolina, manager of more than $231 billion of assets, said it served as lead agent in a senior secured credit line to finance Accruent LLC’s acquisition of Mainspring Healthcare Solutions. Boston-based Mainspring provides software and technology to U.S. hospitals. Accruent, Austin, Texas, provides real-estate and facilities-management services. Mainspring is Accruent’s fourth add-on investment that Babson has led since supporting TA Associates’ recapitalization of Accruent in 2013. TA is the Boston private equity firm. Babson is a member of the MassMutual Financial Group.

Copyright PEI Media

Not for publication, email or dissemination