Innovation

Nassau Financial Group: $250 Million In Credit Facilities Closed

By Amit Chowdhry ● Feb 26, 2024

Nassau Financial Group recently announced that it has closed on a $150 million revolving credit facility and a $100 million term loan credit facility arranged by RBC Capital Markets. And this new agreement includes a refinancing and upsizing of an existing revolving credit facility arranged by RBC Capital Markets in 2022 and a new term loan credit facility.

Wells Fargo: Erik Karanik Named As Head Of WIM Independent Solutions

By Amit Chowdhry ● Feb 26, 2024

Wells Fargo & Company announced Erik Karanik as the head of Independent Solutions for its Wealth & Investment Management (WIM) business. And he will report to WIM Chief Executive Officer Barry Sommers and will remain on the WIM Operating Committee.

Silence Therapeutics: $10 Million Milestone Payment Achieved From AstraZeneca

By Amit Chowdhry ● Feb 26, 2024

Silence Therapeutics - an experienced and innovative biotechnology company committed to transforming people’s lives by silencing diseases through precision-engineered medicines - announced that the initiation by AstraZeneca of a phase 1 clinical trial of the first product candidate under its siRNA (short interfering RNA) collaboration, has triggered a $10.0 million milestone payment to Silence.

Mayfair Capital Partners Buying Baseline Fitness: Details

By Amit Chowdhry ● Feb 26, 2024

Mayfair Capital Partners (a division of Oxford Financial Group) on behalf of its underlying investors has acquired Baseline Fitness. This investment closed on February 2, 2024, and terms were not disclosed.

Phoenix Selling Global Freight Solutions To ILG: Details

By Amit Chowdhry ● Feb 26, 2024

Phoenix announced the sale of Global Freight Solutions (GFS), a leading Enterprise Carrier Management (ECM) company, to industry-leading e-commerce fulfillment specialists International Logistics Group Ltd (ILG), part of the Yusen Logistics/NYK group of companies. Launched more than 20 years ago, GFS pioneered ECM technology and multi-carrier parcel services.

Goldman Sachs Launches Open-Ended European Private Credit Strategy

By Amit Chowdhry ● Feb 26, 2024

Goldman Sachs Alternatives announced that it has launched a new open-ended, semi-liquid European private credit strategy (GSEC) that will benefit from the firm’s 28-year track record as a leader in European private credit. This launch continues the firm’s successful efforts to expand access to its Alternatives platform for professional investors (including qualified individuals).

Stratos Wealth Partners Brings In Pettinelli Financial Partners Of California

By Amit Chowdhry ● Feb 26, 2024

Stratos Wealth Partners (a part of Stratos Wealth Holdings) announced it has successfully recruited Pettinelli Financial Partners of Redwood City, California, with $700 million in total client assets. And founder and Firm Ambassador Dennis Pettinelli, President Jon Pettinelli and their team of 20, which includes advisors and support members, will join Stratos. The firm was formerly affiliated with Osaic's Royal Alliance.

Eyelit Technologies Acquiring Optessa: Details

By Amit Chowdhry ● Feb 26, 2024

Banneker Partners’ portfolio company Eyelit Technologies - a leader in Manufacturing Operations Management (MOM), Manufacturing Execution (MES), Quality Management (QMS) and Factory Automation solutions - announced it has acquired Optessa to enhance its manufacturing optimization capabilities.

Intapp To Buy AI Software Company delphai: Details

By Amit Chowdhry ● Feb 26, 2024

Intapp - a leading global provider of AI-powered software for professionals in advisory, legal, and capital markets firms - has agreed to acquire delphai, a Berlin-based AI software company specializing in applied AI for firmographic data automation, structuring, and intelligence. The deal is subject to regular and customary closing conditions and is expected to close within the next 60 days.

Snowden Lane Partners Brings In $208 Million Advisor Team

By Amit Chowdhry ● Feb 26, 2024

Snowden Lane Partners (an independent, advisor-owned, wealth advisory firm dedicated to providing client-focused advice in a values-driven culture) announced that Ornella and Brian Solomon have joined the firm as Managing Directors, based in Snowden Lane’s New York City headquarters. Together, the mother-son wealth management team will form The Lewis-Solomon Group with $208 million in client assets and have selected Charles Schwab as their custodian.

BuzzFeed Sells Complex To NTWRK For $108.6 Million: Details

By Amit Chowdhry ● Feb 26, 2024

BuzzFeed recently announced the closing of its sale of Complex to NTWRK to form a new and wide-ranging destination for the future of commerce and media in a $108.6 million all-cash deal. Along with the $108.6 million purchase price, the company received approximately $5.7 million for using the company’s NY offices and severance- and other employment-related costs.

The Retirement Planning Group Buying Established RIA Dightman Capital Group: Details

By Amit Chowdhry ● Feb 26, 2024

Cetera Holdings - the holding company of Cetera Financial Group, the premier financial advisor Wealth Hub - announced that The Retirement Planning Group (TRPG) has acquired Dightman Capital Group, an RIA based in Overland Park, Kansas. TRPG acquired 100% of the assets of Dightman Capital Group, which is owned and operated by Brian Dightman, CMT. Dightman is now a W-2 advisor at TRPG, providing him with many benefits, including office support, technology, marketing, insurance, and employee benefits as he continues to serve his existing clients.

Datasite Acquires Board Reporting Provider Sherpany: Details

By Amit Chowdhry ● Feb 26, 2024

Datasite - a leading SaaS platform used by enterprises globally to execute complex and strategic projects - has announced that it has acquired Sherpany, a Zurich-based board reporting and meeting management software provider. The terms of the agreement are not being disclosed and the transaction is expected to close in Q1 2024, subject to closing conditions.

Harwood Private Equity Buying Crest Foods: Details

By Amit Chowdhry ● Feb 26, 2024

Brown Gibbons Lang & Company (BGL) has announced the sale of Crest Foods (a leading provider of dairy stabilizers, contract packaging, and branded and private label dry food manufacturing) to Harwood Private Equity (an investor in lower middle market companies). BGL's Food & Beverage, Debt Capital Markets, and Real Estate teams together served as the exclusive financial advisor to Harwood. The terms of the transaction were not disclosed.

RTL Group Investing Over €200 Million To Expand Fremantle

By Amit Chowdhry ● Feb 26, 2024

Fremantle (RTL Group’s global content production business) has agreed with Oaktree Capital Management to acquire Asacha Media Group. Asacha Media Group is a European production group based in Paris that owns majority stakes in eight production companies in France, Italy, and the UK, focusing on scripted and unscripted content. Under the terms of the deal, Fremantle can acquire the outstanding shareholdings in the eight production companies over the next years.

Sandbrook Capital Committing Up To $460 Million To rPlus Energies

By Amit Chowdhry ● Feb 26, 2024

Five years since being founded, rPlus Energies (a leading private renewable energy developer) announced a platform-level partnership with Sandbrook Capital (a private investment firm dedicated to transforming the world's energy infrastructure). And Sandbrook will invest up to $460 million in the platform alongside continued support from Gardner Group, the founding investor in rPlus and a leading commercial real estate company in the Mountain West.

AlTi Tiedemann Receiving Strategic Investment Of Up To $450 Million

By Amit Chowdhry ● Feb 26, 2024

AlTi Global (a leading independent global wealth and alternatives manager with approximately $68 billion in combined assets) recently announced a strategic investment of up to $450 million by Allianz X and Constellation Wealth Capital (CWC).

Rimkus Raises Funding From HGGC

By Amit Chowdhry ● Feb 26, 2024

Rimkus Consulting Group - a worldwide leader in engineering and technical consulting - recently announced that the firm has received a strategic growth investment from HGGC, a leading middle-market investment firm. And existing minority investor Century Equity Partners and the Rimkus management team will be rolling significant equity into the transaction. The financial details of the deal were not disclosed.

MD Anderson Acquiring Inducible Switch Technologies: Details

By Amit Chowdhry ● Feb 26, 2024

The University of Texas MD Anderson Cancer Center announced it has acquired certain assets from Bellicum Pharmaceuticals related to the CaspaCIDe switch platform and the GoCAR platform. The deal also includes clinical-grade stocks of rimiducid, an agent used to trigger the switches.

Vencora Buying CREALOGIX: Details

By Amit Chowdhry ● Feb 26, 2024

VENCORA UK LIMITED announced the settlement of its public tender offer for all publicly held registered shares of CREALOGIX Holding AG with a nominal value of CHF 8.00 each. This offer was completed successfully on February 22, 2024. And with a proven track record of providing quality solutions to its customers and a history of successful transactions, the acquisition of CREALOGIX greatly expands Vencora’s presence within the banking technology industry.

Nautic Partners Buying SurfacePrep: Details

By Amit Chowdhry ● Feb 26, 2024

Nautic Partners announced that it has completed the acquisition of SurfacePrep, in partnership with management. Based in Grand Rapids, Michigan, SurfacePrep is a leading national and international distributor of surface enhancement solutions. And the company distributes loose and coated/bonded abrasives, specialty ceramic materials, and powder coating and fluid delivery consumables, as well as related spare parts and equipment.

Wintrust Financial And LPL Financial Sign Strategic Relationship

By Amit Chowdhry ● Feb 26, 2024

LPL Financial and Wintrust Financial announced an agreement to transition support of the wealth management business of Wintrust Investments and certain private client business at Great Lakes Advisors and their approximately 85 advisors and about $16 billion of brokerage and advisory assets to the LPL Institution Services platform.

InsightRX Raising Growth Capital From CIBC Innovation Banking

By Amit Chowdhry ● Feb 26, 2024

CIBC Innovation Banking recently announced that it has provided growth financing to InsightRX, a San Francisco-based software company utilizing quantitative pharmacology and artificial intelligence (AI) to improve therapeutic decision-making from phase I drug development to the point of patient care. And InsightRX applies patient-specific data and quantitative models to tailor dosing for complex treatments, including antibiotics, chemotherapeutic agents, and immunosuppressants. InsightRX also taps into AI to empower data scientists to analyze clinical trial data, aid in trial design, understand dose-exposure-response relationships, and refine dosing strategies for regulatory submissions.

Havenly Buying The Citizenry: Details

By Amit Chowdhry ● Feb 26, 2024

Havenly - the country's leading interior design service and home furnishings company - announced recently it had reached a definitive agreement to acquire The Citizenry as part of efforts to build a collection of home brands and technologies that appeal to the next generation of shoppers. This acquisition - the third brand acquisition in 24 months for Havenly - indicates the design & furnishings leader's growth trajectory as it expands upon its offerings for the digital first-home consumer.

Why Society Brands Is Buying Clarifion And Cleanomic

By Amit Chowdhry ● Feb 25, 2024

Society Brands - a tech-enabled consumer products company built for and by founders - announced it acquired two Orange County, California-based brands, Clarifion and Cleanomic.

Chord Energy And Enerplus Combining In $11 Billion Deal

By Amit Chowdhry ● Feb 25, 2024

Chord Energy and Enerplus announced they have entered into a definitive arrangement agreement under which Chord will combine with Enerplus in about an $11 billion stock and cash transaction.

Applied Ventures Investing In VVDN Technologies: Details

By Amit Chowdhry ● Feb 25, 2024

Applied Ventures (the venture capital arm of Applied Materials) announced a growth equity investment in VVDN Technologies, one of the leading India-based electronics product design, software, and manufacturing companies. This strategic growth funding from Applied Ventures will enable VVDN to expand the R&D of next-generation semiconductor technologies and electronic products and solutions.

unybrands Raises Series B Funding Round To Scale E-Commerce Businesses

By Amit Chowdhry ● Feb 25, 2024

unybrands, an integrated platform built to scale e-commerce businesses on and off Amazon, recently announced that it closed its largest acquisition to date in an all-cash deal.

Blackbird Health: Neuroscience-Led Youth Mental Health Provider Company Raises $17 Million

By Amit Chowdhry ● Feb 25, 2024

Blackbird Health - a neuroscience-led and technology-backed youth mental health provider - announced it raised $17 million in series A funding. And the funding round was led by Define Ventures and included participation from Frist Cressey Ventures and GreyMatter. Blackbird has raised nearly $23 million to date.

Strata Clean Energy: $559 Million In Financing Secured For 1GWh Battery Energy Storage Project in Arizona

By Amit Chowdhry ● Feb 25, 2024

Strata Clean Energy - a leading developer, owner, and operator of renewable energy projects - announced it has closed on a $559 million financing for the construction and ownership of the Scatter Wash battery storage complex. And the 255MW/1,020MWh storage facility broke ground on January 18 and is expected to be operational by April 2025.