Culver City, Calif.-based clothing company Velvet has inked an undisclosed amount of financing from New York-based private equity firm Snow Phipps Group. Terms of the deal were not released, though Snow Phipps will take a “significant interest” in the company, according to a written statement. The Sage Group advised Velvet on the deal. Snow Phipps was advised by William Susman in conjunction with Financo, Inc.
Private equity firm ICV Partners has acquired Cargo Airport Services from MidMark Capital, the Weinberg Bell Group and other shareholders. Financial terms of the deal were not released. Prospect Capital Corporation provided debt financing for the deal. Cargo Airport Services handles cargo at 12 airports across North America, including New York City’s John F. Kennedy International Airport. ICV Partners has more than $440 million in capital under management.
Confie Seguros, a provider of auto insurance that focuses on Hispanic consumers, has acquired New York-based insurance broker NII Brokerage. Terms of the deal were not released. Confie Seguros is backed by San Francisco-based private equity firm Genstar Capital. By acquiring NII Brokerage, Confie Seguros will expand throughout New York as well as into Connecticut and Pennsylvania.
The maturation of the U.S. Internet economy and rapid development of online industry in other countries is pushing venture capital investors overseas, as they increasingly export American money and industry pinning their hopes on replicating successes in now-burgeoning territories. As top Internet brands’ user bases and valuations push companies closer to exits for their early […]
Look Who’s Coming to Dinner: Google could become ensnared in antitrust probe Can’t We All Just Get Along? Integrating angels into the VC mix Welcome Back! American flies again on Expedia, Hotwire Just Asking… Is it time to break up Google?
American Securities has made a “significant” investment in Presidio, a provider of IT infrastructure services. Financial terms were not announced. New York-based American Securities is a PE firm. PRESS RELEASE American Securities LLC, a New York-based private equity firm, today announces that, in partnership with management, it has completed a significant investment in Presidio Inc., […]
Portfolio Advisors announced Monday the final close of its fund-of-funds pool, Portfolio Advisors Private Equity Fund VI, which raised $1.1 billion. Investors include private and public pension plans, university endowments, private foundations, insurance companies, family offices and high net worth individuals. Portfolio's prior fund, PAPEF V, closed at $1.045 billion in 2008.
It's been awhile since I've posted anything on the payout parade. Well, today's is a good one. ARAMARK, which provides food services to stadiums and arenas, is issuing $600 million in notes via a private placement. ARAMARK plans to use proceeds from the offering, along with proceeds it receives from borrowings under a revolving credit facility, to pay a dividend to ARAMARK stockholders.
HarbourVest Partners has promoted Jeff Keay, Karin Lagerlund, Sebastiaan van den Berg, and Scott Voss to managing director. HarbourVest said Monday it is also in the process of establishing a team in Bogota, Colombia and expanding the team in Asia. Also, Philip Bilden, an MD with HarbourVet Partners in Asia, is transitioning to a senior […]
FleetPride, which is backed by Investcorp and Ridgemont Equity Partners has agreed to buy 14 locations from Midway Truck Parts. The deal includes 13 Midway Truck locations in Illinois and one in St. Louis. However, the Midway Trailer Sales & Service division is not part of the deal. Financial terms were not announced.