Archives

WiSA Technologies Signs Deal To Buy CompuSystems

By Amit Chowdhry ● Dec 27, 2024

WiSA Technologies - which anticipates closing its acquisition of Datavault intellectual property and information technology assets of privately held Data Vault Holdings and changing its name to Datavault on or about December 31, 2024 - announced it has entered into a definitive agreement to acquire privately held CompuSystems, Inc. (CSI), a premier provider of registration, data analytics, and lead management services for live events.

HomeStreet Enters Deal To Sell $990 Million In Multi-Family Loans

By Amit Chowdhry ● Dec 27, 2024

HomeStreet - the parent company of HomeStreet Bank - today announced today that the Bank entered into an agreement to sell to Bank of America, on a servicing retained basis, $990 million of multifamily commercial real estate loans at a price, including the value of the retained servicing, of 92% of the principal balance of the loans. This loan sale is expected to close before December 31, 2024.

Nordic Capital: Evolution II Closed At €2 Billion

By Amit Chowdhry ● Dec 27, 2024

Nordic Capital announced the first and final closing of Nordic Capital Evolution II at the hard cap of €2 billion. Raised within four months from launch with excess demand, this fund closed at its hard cap and significantly exceeded its target of €1.4 billion. Evolution II had attracted excess demand from its launch and benefited from strong support from its current investor base, with a high re-up rate of over 100% by capital and significant LP commitments from new investors and geographies, such as a substantial increase from the Americas.

USANA Health Sciences Announces Acquisition Of Hiya Health For $205 Million

By Amit Chowdhry ● Dec 27, 2024

USANA Health Sciences announced its acquisition of a 78.8% controlling ownership stake in Hiya Health Products, a leading direct-to-consumer provider of high-quality children’s health & wellness products. The $205 million cash transaction closed on December 23, 2024, and is anticipated to be accretive to USANA’s 2025 adjusted EBITDA. For the last year ended September 30, 2024 (unaudited), Hiya generated net sales of $103 million, net income of $19 million, and adjusted EBITDA of $22 million. As of September 30, 2024, Hiya had over 200,000 customers.

Trane Technologies To Buy BrainBox AI

By Amit Chowdhry ● Dec 27, 2024

Global climate innovator Trane Technologies has signed a definitive agreement to acquire BrainBox AI, a pioneer in autonomous HVAC controls and generative Artificial Intelligence (AI) building technology.

CCC Intelligent Solutions Acquiring EvolutionIQ In $730 Million Deal

By Amit Chowdhry ● Dec 27, 2024

CCC Intelligent Solutions - a leading cloud platform provider powering the P&C insurance economy and a subsidiary of CCC Intelligent Solutions Holdings - announced that it has signed a definitive agreement to acquire EvolutionIQ - the leading platform for AI-powered guidance for disability and injury claims management. And the acquisition expands CCC’s market reach into strategic adjacencies.

Guardian Capital Partners Acquires TEAM LINX

By Amit Chowdhry ● Dec 27, 2024

Guardian Capital Partners - an operationally focused private equity firm focused on control-oriented investments in lower middle-market private companies - announced the acquisition of Team LINX in partnership with the LINX executive management team, which will continue to operate the company.

Cerberus Buying Water Storage Solutions Provider Landmark Structures

By Amit Chowdhry ● Dec 27, 2024

Cerberus Capital Management - a global leader in alternative investing - announced that it has acquired Landmark Structures, a leading full-service provider of water storage solutions in North America.

SV Health Investors: A.J. Rossi Promoted To Partner

By Amit Chowdhry ● Dec 27, 2024

SV Health Investors - a leading healthcare-focused private equity firm - announced the promotion of A.J. Rossi to Partner on the firm’s Growth-Buyout team. In this new role, A.J. will continue to lead investments and manage the SV portfolio while helping to drive the firm’s growth initiatives across the healthcare sector.

KKR Investing In Internet Restaurant Company Rebel Foods

By Amit Chowdhry ● Dec 27, 2024

Leading internet restaurant company Rebel Foods and global investment firm KKR announced the completion of an investment in Rebel Foods by affiliates of KKR. Through this deal, KKR will support the Company’s growth, including its expansion in India and the Middle East and adding more food and beverage brands to its portfolio.

Ardonagh Raises Funding From Stone Point Capital At $14 Billion Valuation

By Amit Chowdhry ● Dec 27, 2024

Stone Point Capital has agreed to invest in Ardonagh Group, enabling it to become a significant shareholder in the insurance broker. The investment funds managed by Stone Point Capital value Ardonagh at $14 billion.

Colbeck Capital: Gregory Budetti Named As Head of Business Development

By Amit Chowdhry ● Dec 27, 2024

Colbeck Capital Management - a leading middle-market private credit firm focused on strategic lending - announced that Gregory Budetti, former Director of Capital Partnerships and Investor Relations at Closed Loop Partners, has joined Colbeck as Head of Business Development. In this newly created role, Budetti will work closely with Colbeck’s Managing Partners, Jason Beckman, and Jason Colodne, to manage strategic capital formation initiatives and develop investment solutions that align investors’ interests with Colbeck’s core competencies in strategic lending.

Elliott Investment Management Buying Majority Interest In American Greetings

By Amit Chowdhry ● Dec 27, 2024

Elliott Investment Management, Clayton, Dubilier & Rice (CD&R), and American Greetings Corporation (AG) announced an agreement under which Elliott will purchase a majority ownership stake in American Greetings. The terms of the deal were not disclosed.

Baker McKenzie: Sung Woo (Sean) Lim Joins JV As Partner

By Amit Chowdhry ● Dec 27, 2024

Baker McKenzie announced that leading international arbitration practitioner Sung Woo (Sean) Lim has joined Baker McKenzie & KL Partners Joint Venture Law Firm (Baker McKenzie KLP JV) as a partner. This hire represents the fifth addition to the Baker McKenzie KLP JV in the last year and solidifies the firm's position as the most significant international law firm in Korea by partner bench strength.

CAPTRUST Buys Campbell Wealth And TruNorth, Adding $1.97 Billion In Assets

By Amit Chowdhry ● Dec 27, 2024

CAPTRUST Financial Advisors announced the addition of Campbell Wealth Management in Alexandria, Virginia, and TruNorth Wealth Partners in St. Paul, Minnesota. Combined these teams bring $1.97 billion in assets.

Raymond James Onboards $995 Million Advisor Team

By Amit Chowdhry ● Dec 27, 2024

Raymond James & Associates’ Mid-American regional director, Amy Smart, announced that the firm recently welcomed financial advisors Adam Ours, John Koch, and Padma Jambunath to the firm’s employee advisor channel in Cleveland, Ohio. The team includes senior client relationship manager Jeffrey Danzinger, senior registered client relationship associate Sasha Delic-Milanovic, and senior client service associate Betsy Margolin. They come from Merrill Lynch, where they managed approximately $995 million in client assets and will operate as part of RJA’s Cleveland Beachwood branch.

News Corp To Sell Foxtel To DAZN In A$3.4 Billion Deal

By Amit Chowdhry ● Dec 27, 2024

News Corporation announced it has entered into a definitive agreement to sell Foxtel Group to DAZN Group Limited, a premier global sports streaming platform. Under the terms of the deal, shareholder loans for A$578 million outstanding and owing to News Corp will be repaid in full in cash at closing.

Fiserv Acquiring Payfare In $140 Million Deal

By Amit Chowdhry ● Dec 27, 2024

Fiserv - a leading global provider of payments and financial services technology - announced it has entered into a definitive agreement to acquire Payfare, a provider of program management solutions with a focus on new economy workforces. The deal is subject to obtaining shareholder and court approvals and other customary closing conditions and is expected to close in the first half of 2025.

Morgan Stanley Real Estate Investing Buys Brightview’s Senior Living Portfolio

By Amit Chowdhry ● Dec 27, 2024

Morgan Stanley Investment Management—through investment funds managed by Morgan Stanley Real Estate Investing (MSREI)—announced it partnered with Brightview Senior Living to buy a portfolio of eight premium senior housing communities from Harrison Street. Harrison Street is one of the leading investment management firms exclusively focused on alternative real assets, with about $56 billion in assets under management.

Commonwealth Onboards Two Long Island Affiliates With Over $495 Million In Client Assets

By Amit Chowdhry ● Dec 27, 2024

Commonwealth Financial Network, a national RIA dedicated to offering financial advisors with integrated business solutions, announced it welcomed two Jericho, New York-based independent advisory firms previously affiliated with Securities America (now Osaic) and collectively reported more than $495 million in client assets.

Invidia Capital: Interview With Javier Bravo Nieto About The Healthcare Investment Firm

By Amit Chowdhry ● Dec 27, 2024

Invidia Capital Management is a pure-play healthcare investment firm focused on upper-middle market buyouts in North America. Pulse 2.0 interviewed Invidia Capital Management Private Equity Senior Associate Javier Bravo Nieto to learn more about the firm.

Mantis: $5 Million Raised For Advancing Human-Centric Robots

By Amit Chowdhry ● Dec 27, 2024

Mantis Robotics, a company focused on Physical AI for robotic automation, announced it has secured $5 million in new investments led by Emerald Technology Ventures with participation from the Amazon Industrial Innovation Fund. This funding will enable Mantis Robotics to scale its operations, enhance its product portfolio, and expand its presence in the rapidly growing industrial robotics market.

Proton Intelligence: Continuous Potassium Monitoring Company Raises $6.95 Million (Seed)

By Amit Chowdhry ● Dec 26, 2024

Proton Intelligence, a company developing the first-ever Continuous Potassium Monitoring (CKM) platform, announced the closing of its $6.95 million Seed Financing round joined by SOSV, We Venture Capital, Tenmile, LongeVC, 15th Rock, Exor, and Trampoline Venture Partners.

Walker & Dunlop: $245 Million Financing Secured For Jersey City Development

By Amit Chowdhry ● Dec 26, 2024

Walker & Dunlop announced that it arranged a $245 million loan from TYKO Capital to facilitate the construction of The Greyson, which is a 28-story, 622-unit Class-A mixed-use tower that will be located in Jersey City, New Jersey.

Third Point Acquires Diversified Alternative Credit Fund Manager AS Birch Grove

By Amit Chowdhry ● Dec 26, 2024

Third Point, an alternative investment manager with $12 billion of assets, announced that it has entered into a definitive agreement to acquire AS Birch Grove LP, a diversified alternative credit fund manager. And upon the completion of the deal, American Securities will no longer be an owner of Birch Grove, which will become a subsidiary of Third Point.

Nodepay: Decentralized AI Platform Company Raises $7 Million

By Amit Chowdhry ● Dec 26, 2024

Nodepay, a decentralized AI platform transforming unused internet bandwidth into real-time data pipelines for AI training, announced it has raised a second round of funding, bringing the total to $7 million.

AusperBio: $73 Million (Series B) Raised To Advance Targeted Oligonucleotide Therapies

By Amit Chowdhry ● Dec 26, 2024

AusperBio, a privately held clinical-stage biotechnology company dedicated to advancing targeted oligonucleotide therapies to achieve a functional cure for chronic hepatitis B (CHB), announced the completion of a $73 million Series B funding.

Prosus To Buy Online Travel Agency Despegar For $1.7 Billion

By Amit Chowdhry ● Dec 26, 2024

Prosus announced that it entered into a definitive agreement to buy Despegar, a leading Latin American Online Travel Agency (OTA), for $19.50 per share, equivalent to a 33% premium to the closing share price as of 20 December 2024, and a 34% premium to Despegar’s 90-day VWAP (volume weighted average price). The proposed deal was approved by Despegar’s board of directors, who recommended that Despegar shareholders vote in favor of the proposed transaction following the unanimous recommendation by a transaction committee.

Orion To Buy Summit Wealth Systems

By Amit Chowdhry ● Dec 26, 2024

Orion, a provider of transformative wealth-technology solutions for financial advisors and the enterprise firms that serve them, announced a definitive agreement to acquire advisor technology provider Summit Wealth Systems. When the deal closes in early 2025, Summit’s CEO, Reed Colley, will join Orion as President of Orion Advisor Technology, reporting to Orion CEO Natalie Wolfsen.

MetLife Buying PineBridge Investments In $1.2 Billion Deal

By Amit Chowdhry ● Dec 26, 2024

MetLife Investment Management (MIM) - MetLife's institutional asset management business - announced that it has reached a definitive agreement to acquire PineBridge Investments, a global asset manager with about $100 billion in assets under management, from the Pacific Century Group.