Flare Capital hires Parth Desai from NY-Presbyterian Ventures


This post is by Chris Witkowsky from PE Hub Blog: Human Resources


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Flare Capital Partners hired Parth Desai as a senior associate. Desai joined Flare Capital from the investment team at New York-Presbyterian Ventures. Desai also worked at Deloitte Consulting. He began his career as a health policy analyst for the Massachusetts House of Representatives, where he led development of legislation reforming oversight of the pharmaceutical industry in the state.
Press Release
Flare Capital Partners, a leading healthcare technology venture capital firm, today announced the addition of healthcare technology investor and experienced policy professional Parth Desai as a Senior Associate.
“Parth has dedicated his academic work and professional career to the transformation of the business of healthcare and is an incredible addition to our team,” said Bill Geary, co-founder and partner, Flare Capital.
Desai has been an advocate for profound healthcare innovation throughout his career. He joins Flare Capital from the investment team at New York-Presbyterian Ventures, where he spent time

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Northgate promotes one to CFO, hires head of IR


This post is by Chris Witkowsky from PE Hub Blog: Human Resources


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Northgate Capital promoted Jana Vaze to chief financial officer from director of finance and hired Luciana Castro as head of investor relations. Castro joined from Abingworth and VantagePoint Capital Partners, where she led fundraising and LP services.

Press Release

Northgate Capital, a leading venture capital and private equity investment firm, today announced two senior appointments.

Jana Vaze has been promoted to the role of Chief Financial Officer of Northgate. Jana was previously Director of Finance at Northgate, where she has served for over 12 years. During her time at Northgate, Jana has worked extensively with the senior leadership team, managing operational and strategic initiatives for the Firm.

As CFO, Jana will work with Moez Virani who has recently transitioned to a role of Senior Advisor after serving as CFO for 8 years.

Additionally, Luciana Castro joined Northgate as Head of Investor Relations. Luciana brings over 15 years of investor

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VC-backed Mirum Pharmaceuticals names Chris Peetz as CEO


This post is by Chris Witkowsky from PE Hub Blog: Human Resources


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Venture-backed Mirum Pharmaceuticals named Chris Peetz as chief executive officer, stepping in for former CEO Mike Grey, who will be in the role of executive chairman of the board. Mirum is backed by investors including NEA, Deerfield Management, Frazier Healthcare Partners, Novo Holdings, Pappas Capital, RiverVest Venture Partners and Rock Springs Capital.

Press Release

Mirum Pharmaceuticals today announced the appointment of Chris Peetz as chief executive officer. The company’s former CEO, Mike Grey, will stay on with Mirum in the role of executive chairman of its Board of Directors.

“Chris has made tremendous contributions to Mirum since the company’s founding, and I am confident in his leadership of the team as they rapidly execute on multiple late-stage clinical programs in parallel,” said Mike Grey. “Importantly, Chris has the drug development expertise and passion for helping patients, which is critical when working on rare disease.

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Morningside Technology Ventures leads $11 mln Series A funding in Jitjatjo


This post is by Chris Witkowsky from PE Hub Blog: Venture Capital Deals


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Morningside Technology Ventures led an $11 million Series A funding round in Jitjatjo, which matches hospitality operators with vetted industry professionals using artificial intelligence. Mick Sawka of Morningside Technology Advisory, will join Jitjatjo’s board of directors.

Press Release

Jitjatjo, the mobile staffing marketplace that leverages artificial intelligence to instantly and accurately match hospitality operators with vetted industry professionals, today announced that the company has raised $11 million in Series A funding led by Morningside Technology Ventures. Mick Sawka, of Morningside Technology Advisory LLC, will join Jitjatjo’s Board of Directors.

Since launching in 2016 with an initial focus on New York City’s hospitality sector, Jitjatjo has been growing at a rapid rate. Revenue has increased in excess of 250% year-over-year in the company’s initial launch market, where Jitjatjo has helped fulfill tens of thousands of shift assignments to a talent pool of several thousand. Similar growth profiles are projected

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SK Capital-backed Perimeter Solutions to expand fire safety offerings with three add-ons


This post is by Chris Witkowsky from PE Hub Blog: Buyout Deals


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SK Capital-backed Perimeter Solutions completed the purchase of a group of companies in Post Falls, Idaho, including First Response Fire Rescue, River City Fabrication and H&S Transport. Perimeter Solutions plans to integrate the three businesses within its manufacturing and services systems to expand its offering in the fire suppression sector. Perimeter will retain management and staff of the three companies, the facilities of which will become an operational site under Perimeter Solution’s Fire Safety Group.

Press Release

Perimeter Solutions, the global leader in the production of fire retardants, foams, and water enhancing gels, along with a wide range of services for managing wildland, industrial, municipal, and military fires, today announced it has completed the purchase of a group of companies in Post Falls, Idaho, including First Response Fire Rescue (“First Response”), River City Fabrication (“RCF”) and H&S Transport.

As the manufacturer of PHOS-CHEK® Long-Term Fire Retardant, used by

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May River Capital-backed Hunt Valve acquires MB Valve


This post is by Chris Witkowsky from PE Hub Blog: Buyout Deals


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May River Capital-backed Hunt Valve Co., which makes specialty valves for the U.S. Navy and industrial customers, acquired Montreal Bronze Ltd. (known as MB Valve). May River completed a recapitalization of Hunt Valve Co. in December 2018 through its first fund.

Press Release

Hunt Valve Company (Hunt Valve), a specialty valve engineering and manufacturing company serving the United States Navy and industrial customers worldwide, announced today that it has completed its acquisition of Montreal Bronze Limited (MB Valve).

Hunt Valve is a specialty valve engineering and manufacturing company serving the United States Navy and industrial customers worldwide. Located in Terrebonne, Quebec, MB Valve supplies severe-duty bronze marine valves. The Company also has a large variety of special bronze and alloy steel products that meet specific performance requirements for U.S., Canadian and NATO-friendly Navy ships, pharmaceutical and nuclear applications.

“The financial and organizational resources afforded by

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ACON buys JD Beauty from Topspin Partners to merge with Goody Products


This post is by Chris Witkowsky from PE Hub Blog: Buyout Deals


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ACON Investments acquired JD Beauty Co. and will merge the company with Goody Products, Inc., which ACON purchased in August 2018. ACON acquired JD Beauty from Topspin Partners. ACON is building a multi-platform, diversified haircare platform. Jeffrey Davidson, CEO of JD Beauty, will become CEO of the combined platform.

Press Release

ACON Investments, L.L.C. and its affiliates (“ACON”), owners of Goody Products, Inc. (“Goody”), today announced it has completed the acquisition of JD Beauty Co., LLC (“JD Beauty”) from Topspin Partners II. JD Beauty is the company behind the popular Wet Brush branded hair care tools, Bio Ionic hair styling tools and Ouidad hair care treatments.

JD Beauty will merge with the well-known and iconic Goody, which ACON purchased from Newell Brands in August 2018, to form a powerful multi-brand diversified haircare accessory, liquid and styling tool company uniquely poised to serve the beauty industry.

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Acuris, backed by BC Partners and GIC, acquires research firm Blackpeak


This post is by Chris Witkowsky from PE Hub Blog: Buyout Deals


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BC Partners and GIC-backed Acuris acquired Blackpeak, an investigative research firm with a focus on capital markets, mergers and acquisitions and private equity. Blackpeak was co-founded by Jack Clode and Chris Leahy in 2011.

Press Release

Acuris, the BC Partners and GIC-backed provider of global data, intelligence, research and analysis has acquired Blackpeak, the investigative research firm.

Co-founded by Jack Clode and Chris Leahy in 2011, Blackpeak has grown to become a premier provider of complex due diligence, research and investigation services, particularly in relation to capital markets, M&A and private equity. The team’s experience, strong brand and deep customer relationships have allowed Blackpeak to gain a market leadership position and expand internationally, all while generating consistent profitability.

Headquartered in Hong Kong, Blackpeak now operates from key financial and economic centers, including Singapore, Tokyo, Shanghai, Beijing, New York and Washington DC.

Upon completion of the acquisition, Blackpeak will

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Charlesbank hires ex-Bain Capital Credit director as head of capital markets


This post is by Chris Witkowsky from PE Hub Blog: Human Resources


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Charlesbank Capital Partners hired Carolyn Wintner as head of capital markets. Wintner joined Charlesbank from Bain Capital Credit, where she worked most recently as a director.

Press Release

Charlesbank Capital Partners, LLC is pleased to announce that Carolyn Wintner joined the firm’s Boston office, effective March 4, 2019, as Head of Capital Markets. She brings nearly a decade of experience from Bain Capital Credit.

A graduate of Harvard College and Harvard Business School, Carolyn began her post-MBA career as a Vice President in Bain Capital’s Private Credit Group. She was later promoted to Senior Vice President and most recently served as a Director. While at Bain, she specialized in making private debt investments in middle-market businesses across a range of industries. She was responsible for the origination, underwriting and documentation of privately placed investment opportunities across companies’ capital structures.

“We are delighted to have Carolyn on board,” said Josh

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Kirkland M&A attorney William Sorabella joins Gibson, Dunn & Crutcher


This post is by Chris Witkowsky from PE Hub Blog: Human Resources


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Gibson, Dunn & Crutcher hired William Sorabella as a partner working on public company and private equity mergers and acquisitions. Sorabella joins from Kirkland & Ellis.

Press Release

Gibson, Dunn & Crutcher LLP is pleased to announce that William B. Sorabella has joined the firm as a partner in the New York office. Sorabella, formerly with Kirkland & Ellis LLP, will continue his public company and private equity mergers and acquisitions practice.

“Bill is an exceptional, highly regarded M&A lawyer, who has worked on a number of high-profile transactions. We are delighted to have him join our corporate group,” said Ken Doran, Chairman & Managing Partner of Gibson Dunn. “His deep experience and his excellent reputation, especially in the public company deal community and among private equity sponsors, will be an excellent addition to our strong M&A platform.”

“Bill is an accomplished transactional lawyer whose creativity is a hallmark

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Tower Arch hits $450 mln hard cap on Fund II


This post is by Chris Witkowsky from Pe Hub Blog: Firms & Funds


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Tower Arch Capital held a final close on its second fund on $450 million, reaching its hard cap. Tower Arch Partners II investors include current and former management team members, foundations, diversified financial institutions, endowments and family offices. Shannon Advisors worked as placement agent.

Press Release

Tower Arch Capital, LP (“Tower Arch Capital”) a Salt Lake City, UT-based investment firm, is pleased to announce the closing of Tower Arch Partners II, LP and its parallel investment entity (collectively,”Fund II”) with $450 million of capital commitments. Fund II closed at its hard cap and was substantially oversubscribed.

The fund’s investors include current and former management team members, foundations, diversified financial institutions, university endowments, and family investment offices. Tower Arch Capital professionals are significant investors personally and remain collectively one of the largest investors across Fund I and Fund II, driving alignment between the firm and its limited partner base.

“We are

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Tower Arch hits $450 mln hard cap on Fund II


This post is by Chris Witkowsky from Pe Hub Blog: Firms & Funds


Click here to view on the original site: Original Post




Tower Arch Capital held a final close on its second fund on $450 million, reaching its hard cap. Tower Arch Partners II investors include current and former management team members, foundations, diversified financial institutions, endowments and family offices. Shannon Advisors worked as placement agent.

Press Release

Tower Arch Capital, LP (“Tower Arch Capital”) a Salt Lake City, UT-based investment firm, is pleased to announce the closing of Tower Arch Partners II, LP and its parallel investment entity (collectively,”Fund II”) with $450 million of capital commitments. Fund II closed at its hard cap and was substantially oversubscribed.

The fund’s investors include current and former management team members, foundations, diversified financial institutions, university endowments, and family investment offices. Tower Arch Capital professionals are significant investors personally and remain collectively one of the largest investors across Fund I and Fund II, driving alignment between the firm and its limited partner base.

“We are

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Pantheon hires author of “The Agile Marketer” to lead marketing


This post is by Chris Witkowsky from PE Hub Blog: Human Resources


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Pantheon hired Roland Smart to lead and develop its marketing department. Smart is the author of “The Agile Marketer” and is co-founder of The Business Agility Institute. His hiring comes after a recent $40 million investment in Pantheon to expand its marketing and sales team.

Press Release

Pantheon, the leading website operations platform for agile marketers, today announces the hiring of agile marketing veteran and innovator, Roland Smart, to lead and develop the marketing arm of the firm. Mr. Smart’s hiring comes on the heels of a recent $40 million round of growth funding to expand the marketing and sales teams at Pantheon.

“For the last six years I’ve worked to transform enterprise-scale web teams with agile practices, so the utility of Pantheon was immediately apparent to me,” said Smart. “Pantheon, and WebOps, is a disruptive technology for web teams and I’m thrilled to have the opportunity to advance Pantheon’s

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Gryphon strikes first behavioral health deal with investment in LEARN Behavioral


This post is by Chris Witkowsky from PE Hub Blog: Buyout Deals


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Gryphon Investors acquired a majority stake in LEARN Behavioral, a network of providers of behavioral treatment services for children with autism and other special needs, from LLR Partners. Financial terms were not disclosed. The deal is Gryphon’s first in the behavioral health sector. Buyouts reported exclusively on the deal earlier this month.

Press Release

Gryphon Investors (“Gryphon”), a San Francisco-based private equity firm, announced today that it has acquired a majority stake in LEARN Behavioral (“LEARN” or “the Company”), from LLR Partners. LEARN is the leading network of providers serving children with autism and other special needs. LLR and senior management will maintain minority stakes alongside Gryphon. The transaction marks Gryphon’s first investment in the behavioral health sector. Financial terms were not disclosed.

Founded in 2006, and headquartered in Baltimore, Maryland, LEARN serves more than 4,000 families in 23 states with personalized behavioral treatment services for autism and related

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Weil hires ex-Goldman Sachs VP Brian Parness in private equity practice


This post is by Chris Witkowsky from PE Hub Blog: Human Resources


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Weil, Gotshal & Manges hired Brian Parness as a partner in the global private equity practice. Parness joined Weil from Goldman Sachs, where he worked as vice president and associate general counsel. He will be based in New York.

Press Release

International law firm Weil, Gotshal & Manges LLP announced today that Brian Parness has joined the Firm as a partner. He is part of Weil’s global Private Equity practice and is based in the Firm’s New York office.

“Brian is a tremendous addition to Weil’s market-leading private equity platform,” said Weil Executive Partner Barry Wolf. “We are very excited to welcome him to the Firm.”

Michael Aiello, Chairman of the Corporate Department, commented: “Brian is well known and highly regarded in the private equity field. In addition to his vast experience in asset management transactions, he brings a sophisticated knowledge of the market and will further strengthen

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Bill McGlashan leaves TPG after college-admissions cheating charges


This post is by Chris Witkowsky from PE Hub Blog: Human Resources


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TPG said it fired William McGlashan a few days after he was charged with participating in a fraudulent college admissions scheme. TPG on March 12 put McGlashan on indefinite leave after the charges were publicly announced. Read the Buyouts story here. Here is a statement from a TPG spokesman:

“Bill McGlashan has been terminated for cause from his positions with TPG and Rise effective immediately. After reviewing the allegations of personal misconduct in the criminal complaint, we believe the behavior described to be inexcusable and antithetical to the values of our entire organization. As we stated in the previous announcement of Mr. McGlashan’s administrative leave, Jim Coulter will take over managing partner responsibilities for TPG Growth and Rise.”

For his part, McGlashan said via a spokesperson that he had resigned from TPG before he was terminated by the firm, according to Reuters.

“I will be focused on addressing the allegations

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Siris closes Fund IV on $3.45 bln, beating $3 bln target


This post is by Chris Witkowsky from Pe Hub Blog: Firms & Funds


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Siris Capital Group closed its fourth fund on $3.45 billion, beating its $3 billion target. The total nearly doubles the $1.8 billion in Fund III. Siris started investing Fund IV last year. Park Hill Group worked as placement agent on the fundraising.

Press Release

Siris Capital Group, LLC (“Siris”), a leading private equity firm focused on making investments in technology companies, today announced the closing of Siris Partners IV, L.P. (together with its parallel funds, “Fund IV”) with $3.45 billion of capital commitments. Through Fund IV, Siris intends to continue its established strategy of control investing, targeting mature mission critical companies that are navigating technology transitions.

“We are grateful for the overwhelming support and trust our investors have placed in us,” said Siris Co-Founder and Managing Partner, Frank Baker. “While the technology sector has become increasingly competitive for attractive high growth assets, we continue to have

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Lion Capital acquires DMC Group from BlueGem Capital


This post is by Chris Witkowsky from PE Hub Blog: Buyout Deals


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Lion Capital acquired Crafts Group (DMC Group), comprising a portfolio of European needlecrafts brands, from BlueGem Capital Partners. Brands include DMC, Wool and the Gang, Sirdar and Tilsatec. In 2018, DMC Group generated more than 90 million euros of sales across more than 100 countries.

Press Release

BlueGem Capital Partners (“BlueGem”) and Lion Capital LLP (“Lion”) are pleased to announce that Lion has acquired Crafts Group Limited (“The DMC Group”) from BlueGem. The DMC Group comprises a portfolio of leading European brands in the needlecrafts space, including DMC, Wool and the Gang (“WATG”) and Sirdar. The portfolio also includes Tilsatec, a leading brand of highperformance technical yarn.

BlueGem formed The DMC Group in August 2016 as a consolidation platform for complementary needlecraft brands, beginning with the simultaneous acquisition of DMC and WATG. BlueGem identified in DMC an unloved and undermanaged company with amazing brand heritage, high-quality products and untapped

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One Rock agrees to buy plastics distribution business of Nexeo Solutions


This post is by Chris Witkowsky from PE Hub Blog: Buyout Deals


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One Rock Capital Partners agreed to buy the plastics distribution business of Nexeo Solutions Inc. The deal will follow Nexeo’s pending acquisition by Univar Inc. The acquisition will create a standalone plastics distribution business.

Press Release

One Rock Capital Partners, LLC (“One Rock”) announced today that one of its affiliates has entered into a definitive agreement to acquire the plastics distribution business (“Nexeo Plastics”) of Nexeo Solutions, Inc. (“Nexeo”). The transaction will follow Nexeo’s pending acquisition by Univar Inc. and is expected to close during the first half of 2019.

Nexeo Plastics is a global leader in the distribution of plastics products, including polymer products and prime engineering resins. Through its vast distribution network, Nexeo Plastics connects world-class suppliers with customers across a broad cross section of industrial segments in more than 60 countries in North America, Europe and Asia. Nexeo Plastics utilizes its proprietary technology platform to efficiently serve

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Pharos-backed Beacon Specialized Living adds-on Owakihi


This post is by Chris Witkowsky from PE Hub Blog: Buyout Deals


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Pharos Capital Group-backed Beacon Specialized Living Services acquired Owakihi, Inc., which provides home and community-based support services to individuals with intellectual and developmental disabilities. Terms of the deal were not disclosed.

Press Release

Beacon Specialized Living Services, Inc. (“Beacon”), a portfolio company of Pharos Capital Group, announced today it has acquired Owakihi, Inc., (“Owakihi” or “the Company”). Founded in 1978, Owakihi is a leading Minnesota provider of home and community-based support services to individuals with intellectual and developmental disabilities (I/DD) and mental health needs, focusing on personalized care. Beacon is Michigan’s largest for-profit provider of residential healthcare services to individuals with I/DD, mental health and substance abuse disorders. Terms of the transaction were not disclosed.

Beacon Chief Executive Officer Darren Hodgdon noted, “Beacon is developing multiple lines of mental health services for individuals with extreme behaviors and complex needs. Owakihi serves like-individuals with different delivery models that

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