Veritas Capital to buy Cambium for $14.50 per share

Veritas Capital has agreed to acquire Cambium Learning Group from Veronis Suhler Stevenson for $14.50 per share. The deal is expected to close in the fourth quarter of 2018 or the first quarter of 2019. Macquarie Capital was financial adviser to Cambium on the deal with Lowenstein Sandler LLP providing legal advice. And, Schulte Roth & Zabel LLP served as legal counsel to Veritas Capital. Cambium is a provider of educational technology solutions. PRESS RELEASE DALLAS, Oct. 15, 2018 (GLOBE NEWSWIRE) — Cambium Learning® Group, Inc. (Nasdaq: ABCD, the “Company”), a leading educational technology solutions company committed to helping all students reach their full potential, announced today that it has entered into a definitive merger agreement with certain affiliates of Veritas Capital, a leading private equity investment firm, for the acquisition of the Company. Pursuant to the terms of the merger agreement, the holders of common stock of the
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Z Capital-backed Affinity Gaming hires Rodio as CEO

Las Vegas-based casino gaming operator Affinity Gaming has named Anthony Rodio as CEO. The appointment becomes effective immediately. Rodio was president and CEO of Tropicana Entertainment. Affinity Gaming is backed by Z Capital. PRESS RELEASE LAS VEGAS, Oct. 15, 2018 /PRNewswire/ — Affinity Gaming (“Affinity” or the “Company”) today announced that Anthony (“Tony”) Rodio has been appointed Chief Executive Officer, effective immediately. Mr. Rodio is a proven executive with more than three decades of experience in the gaming industry and a strong track record of transformative growth. Since 2011, Mr. Rodio has served as President, Chief Executive Officer and as a member of the Board of Directors of Tropicana Entertainment, Inc. During his time at Tropicana, Mr. Rodio led the unprecedented growth of the company, improving Tropicana’s overall financial results with net revenue increasing more than 50% through both operational improvements and further expansion into regional markets. Additionally, Mr. Rodio
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PE-backed Avenu taps Murphy as IT director

Avenu Insights & Analytics, which is backed by Mill Point Capital, has named Roger Murphy as director of the information technology managed services division. Based in Herndon, Virginia, Avenu is a provider of software and services for local and state governments. PRESS RELEASE HERNDON, Va., Oct. 15, 2018 /PRNewswire/ — Avenu Insights & Analytics (Avenu) has named public sector expert Roger Murphy as director of the Information Technology (IT) Managed Services division. As an IT executive, Murphy has responsibility for contributing to business development, delivering IT strategy, operations and achieving expected results for clients in state, county and city governments. “Costs are often cited as a main reason that jurisdictions are behind the curve regarding their IT investments,” states Murphy. “But it doesn’t have to cost a lot to reach a high level of modernization, and Avenu has a deep history in achieving this with high-demand constituent applications
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Enlightenment Capital forms EverWatch

Enlightenment Capital has launched Ashburn, Virginia-based EverWatch, a provider of advanced defense, intelligence, and deployed mission support to critical missions in the U.S. EverWatch was formed via the merger of four recent Enlightenment acquisitions in the defense and intelligence sector. PRESS RELEASE Chevy Chase, Maryland – October 15, 2018: Enlightenment Capital, an Aerospace, Defense & Government focused investment firm based in the Washington, DC area, announced the formation of the EverWatch platform, a government services company providing advanced solutions in defense, intelligence, and deployed mission support to our country’s most critical national security agencies. EverWatch was formed through the merger of four recent Enlightenment acquisitions in the Defense & Intel space, each bringing complementary technical capabilities, clients, and contracts under one unified platform to better serve its broader customer base. The company delivers specialized capabilities and tailored solutions through its over 400 employees in support of its customers’
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Auxo invests in Prestige Stamping

Auxo Investment Partners has made an investment in Michigan-based Prestige Stamping Inc, a maker of stampings for the fastener industry. No financial terms were disclosed for the deal that was done in partnership with the Rink family. PRESS RELEASE October 15, 2018 (Warren, Mich.) – Private equity firm Auxo Investment Partners announced today that it has partnered with the Rink family with its investment in Prestige Stamping, Inc., a Michigan-based high-speed niche manufacturer of custom engineered stampings for the fastener industry. The deal, terms of which were not disclosed, marks Auxo’s fifth acquisition in 13 months and follows the September closing of the firm’s inaugural investment fund, Auxo Growth Holdings I LLC. Prestige is a dominant player in the market for high-volume, tight-tolerance washers and similar small stampings, and manufactures over a billion washers and metal stampings annually for more than 200 customers across a diverse set
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Evergreen sells Gene Juarez Salons & Spas to Transom

Transom Capital Group has acquired Seattle-based Gene Juarez Salons & Spas, a fashion and beauty brand, from Evergreen Pacific Partners. No financial terms were disclosed. O’Melveny was M&A counsel for Transom Capital on the deal while D.A. Davidson & Co. served as financial adviser to Gene Juarez. PRESS RELEASE SEATTLE – October 15, 2018 – Transom Capital Group (Transom), a leading operations-focused middle market private equity firm, today announced it has acquired Gene Juarez Salons & Spas, an iconic Seattle fashion and beauty brand, from Evergreen Pacific Partners. As Seattle’s first contemporary fashion salon, Gene Juarez introduced Seattle women to best in class service, artistry and innovative European haircutting techniques. Since its founding in 1971, through its commitment and dedication to clients, artistry and innovative education, Gene Juarez Salons & Spas has grown to 10 salon & spa locations. The company’s relentless focus on excellence, quality and service
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Digital pathology startup Deep Lens rakes in $3.2 mln seed

Deep Lens Inc, a digital pathology startup, has secured $3.2 million in seed financing. Sierra Ventures led the round with participation from Rev1 Ventures and Tamarind Hill Fund. In conjunction with the financing, Mark Shary, managing member of Tamarind Hill, and Dr. Jeff Elton, CEO of Concerto Health AI, will join the Deep Lens board of directors. Source: Press Release

Berkeley Lights snags $95 mln

Berkeley Lights Inc, a digital cell biology company, has closed $95 million in funding. Nikon led the round with participation from Sequoia Capital, Walden-Riverwood Ventures, Black Diamond Ventures, Paxion Capital, Cota Capital, KTB Network, Atinum Investment, Shangbay Capital, AJS BioTree Healthcare Fund and Varian. Source: Press Release

PWP recruits Brassart as MD for advisory business

Perella Weinberg Partners has named Jérôme Brassart as a managing director in its advisory business. Previously, he worked at Credit Suisse where he was most recently a managing director in the power, utilities and infrastructure group. PRESS RELEASE New York, Paris, London, October 15, 2018 – Perella Weinberg Partners (“PWP”) today announced that Jérôme Brassart will join the Firm as a Managing Director in its Advisory business. Mr. Brassart will lead the Firm’s Utilities and Infrastructure Sector effort within PWP’s Industrials team, helping to further develop its European business. He will join the Firm in January 2019 and will be based in London. This is PWP’s fourth European hire in six months, following the appointments of Alex Wilmot-Sitwell (Partner, London), Matthew Smith (Partner, London) and Cyrille Perard (Managing Director, Paris). Mr. Brassart has extensive utilities and infrastructure advisory experience, leading a broad range of merger and acquisition assignments, including several
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PE-backed IQ Brands buys Wheel House Designs

IQ Brands, a portfolio company of Huron Capital, has acquired Morrisville, Vermont-based Wheel House Designs, a maker of of novelty socks to specialty stores and boutiques. No financial terms were disclosed. PRESS RELEASE Detroit, MI – October 15, 2018 – Leading lower-middle-market private equity firm Huron Capital today announced its socks and apparel accessories platform, IQ Brands, has acquired Wheel House Designs, a producer of novelty socks to specialty stores and boutiques throughout North America. The deal marks the fourth add-on acquisition for the IQ Brands platform. Morrisville, Vermont-based Wheel House Designs has been designing and distributing more than 450 variations of novelty socks over the past 30 years. Gail Bourne, who founded Wheel House Designs in 1989, will remain active with IQ Brands after the acquisition. “We are excited to join the IQ Brands platform and work with Huron Capital’s team of industry experts,” said Bourne, who will continue
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Equistone-backed Group of Butchers acquires German meatball producer Hartmann

Group of Butchers, which is backed by Equistone Partners Europe, has acquired Hartmann GmbH, a German producer of meatballs and mince-based products. No financial terms were disclosed. PRESS RELEASE Munich/Tilburg/Warendorf-Milte, 15 October 2018 – Group of Butchers, the Dutch supplier of high-quality meat and mince-based products in which Equistone Partners Europe acquired a majority stake in January 2017, today announces the acquisition of Hartmann GmbH, a leading family-owned German producer of meatballs and mince-based products. The deal represents Group of Butchers’ first move into the German market and strengthens the company’s position as one of the leading producers of artisan meats by extending its product range to include a number of traditionally prepared mince-based products. The financial terms of the deal are undisclosed and completion of the sale remains subject to the approval of the relevant competition authorities. Hartmann GmbH was founded in 1984 in Warendorf-Milte, North Rhine-Westphalia,
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PERQ grabs $4 mln

Indianapolis-based PERQ, a provider of online consumer engagement and shopping behavior solutions, has secured $4 million in funding. Elevate Ventures led the round. PRESS RELEASE INDIANAPOLIS (PRWEB) OCTOBER 15, 2018 PERQ, experts in online consumer engagement and shopping behavior, today announced it closed a $4 million funding round to fuel the expansion of its award-winning Artificial Intelligence-driven SAAS solution for big ticket retailers into multiple verticals. The funding comes exclusively from Indianapolis technology leaders and is led by Elevate Ventures. PERQ’s online guided shopping solution boosts website conversion by dynamically changing existing websites to deliver the next best step in each buyer’s shopping journey. It’s currently used by over 1,000 businesses in the automotive, multifamily and home furnishing verticals where it is generating significant increases in lead generation, closing ratios and gross profits. The solution is driving company growth, including an over 72% increase in new clients and a
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TRI inks funding

UK and Raleigh, North Carolina-based TRI, a provider of risk-based monitoring solutions for clinical trials, has raised an undisclosed amount of funding. The investor was Octopus Investments, a subsidiary of the Octopus Group. Source: Press Release

Arcapita invests in Saudi Arabian women’s fitness chain NuYu

Arcapita has made an investment in NuYu, a women’s fitness chain in Saudi Arabia. No financial terms were disclosed. PRESS RELEASE MANAMA, Bahrain, October 15, 2018 /PRNewswire/ –Arcapita – a global leader in Shari’ah-compliant alternative investments – has invested in NuYu, a leading chain of women-only boutique gyms in Saudi Arabia. Arcapita’s capital will help NuYu deploy over SAR 250 million ($67 million) to grow its network of boutique gyms from seven to over 30 across the Kingdom. The new centers are expected to create hundreds of jobs, as well as provide women access to fitness outlets in currently underserved locations. The investment will enable the company – with five boutique gyms in Riyadh and one each in both Khobar and Dammam – to capitalize on the significant market opportunity arising from a landmark decision by the General Sports Authority to grant licenses for female boutique gyms. This follows
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Yottaa nabs $11 mln

Waltham, Massachusetts-based Yottaa Inc, a SaaS platform for accelerating ecommerce, has raised $11 million in funding. DN Capital led the round. In addition to the fundraising, Yottaa has appointed Jim Morrone as new vice president of worldwide sales. Source: Press Release

PSG adds two as managing directors to team

Providence Strategic Growth Capital Partners L.L.C., an affiliate of Providence Equity Partners, has named Bill Aliber and Brian Shin as managing directors. Aliber is an ex-chief financial officer of Ascend Learning while Shin was recently a partner at In-Q-Tel. PRESS RELEASE PROVIDENCE, R.I.–(BUSINESS WIRE)–Providence Strategic Growth Capital Partners L.L.C. (“PSG”), an affiliate of Providence Equity Partners L.L.C., a premier global asset management firm with approximately $60 billion in assets under management, today announced that Bill Aliber and Brian Shin have joined the firm as managing directors. “Bill and Brian’s considerable experience with software and technology-enabled service companies make them an ideal fit for PSG,” said Mark Hastings, Chief Executive Officer of PSG. “With his strong financial acumen and track record of driving significant revenue growth through organic and inorganic strategies, we expect Bill will provide valuable insights to enhance
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PSG adds two as managing directors to team

Providence Strategic Growth Capital Partners L.L.C., an affiliate of Providence Equity Partners, has named Bill Aliber and Brian Shin as managing directors. Aliber is an ex-chief financial officer of Ascend Learning while Shin was recently a partner at In-Q-Tel. PRESS RELEASE PROVIDENCE, R.I.–(BUSINESS WIRE)–Providence Strategic Growth Capital Partners L.L.C. (“PSG”), an affiliate of Providence Equity Partners L.L.C., a premier global asset management firm with approximately $60 billion in assets under management, today announced that Bill Aliber and Brian Shin have joined the firm as managing directors. “Bill and Brian’s considerable experience with software and technology-enabled service companies make them an ideal fit for PSG,” said Mark Hastings, Chief Executive Officer of PSG. “With his strong financial acumen and track record of driving significant revenue growth through organic and inorganic strategies, we expect Bill will provide valuable insights to enhance
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PE-backed Hearthside to acquire Greencore USA

Hearthside Food Solutions, which is backed by Partners Group and Charlesbank Capital Partners, has agreed to acquire Greencore USA, a provider of of refrigerated, fresh-made sandwiches, entrees, and salad kits. No financial terms were disclosed. HSBC and Barclays were financial advisers to Hearthside on the deal with Ropes & Gray LLP providing legal advice to Hearthside, Charlesbank and Partners Group on the transaction. PRESS RELEASE DOWNERS GROVE, Ill.–(BUSINESS WIRE)–Hearthside Food Solutions (“Hearthside”), a leading contract manufacturer, today announced the signing of a definitive agreement to acquire Greencore USA, a leader in frozen contract packaging and a top producer of refrigerated, fresh-made sandwiches, entrees, and salad kits. This transaction marks a significant step in the further growth and development of Hearthside’s network. The transaction remains subject to regulatory approval and customary closing conditions. Greencore USA is the US unit of Greencore Group plc, an Ireland-based public company. Greencore
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PE-backed Citra buys DataWing

Citra Health Solutions, a portfolio company of Great Point Partners, has acquired Portland, Oregon-based DataWing Software LLC, a provider of technology products. No financial terms were disclosed. PRESS RELEASE GREENWICH, CT and RALEIGH, NC – Great Point Partners’ portfolio company, Citra Health Solutions (“Citra”), a trusted provider of benefit administration technology solutions and care management services, has acquired Portland, Oregon based DataWing Software LLC (“DataWing”). Together, Citra and DataWing will provide a comprehensive suite of technology products to value-based care providers. For over 25 years, DataWing has offered software to help Managed Service Organizations (MSOs), Independent Physician Associations (IPAs), and other healthcare providers improve efficiencies and increase profitability. DataWing’s offering integrates with claims adjudication systems (including Citra’s EZ-CAP) to create additional value-added solutions. Additionally, DataWing products help healthcare providers obtain data from payor organizations to confirm the eligibility of patients to receive reimbursement for care. The acquisition
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