Cedar Gate Technologies beefs up board with new addition

Greenwich, Connecticut-based Cedar Gate Technologies, a care performance management analytic company, has named Dr. Lee Bernard Sacks to its board of directors. Recently, Sacks was the chief medical officer of Advocate Aurora Health. In 2014, Cedar Gate was formed by GTCR and David Snow. PRESS RELEASE GREENWICH, Conn., Nov. 13, 2018 /PRNewswire/ — Cedar Gate Technologies today announced that Lee Bernard Sacks, M.D. has been elected to its Board of Directors, adding valuable clinical expertise and extensive healthcare operations knowledge to the company. Dr. Sacks is a nationally recognized physician executive with major accomplishments in safety, health outcomes, clinical integration, value-based care and provider organization management. He most recently served as Chief Medical Officer of Advocate Aurora Health, after 20 years as Executive Vice President and CMO of Advocate Health Care and CEO of Advocate Physician Partners. While at Advocate Physician Partners, he oversaw their 12-hospital system’s 6,300
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PE-backed ClearCourse buys MillerTech

UK-based ClearCourse Partnership LLP has acquired MillerTech, a provider of of membership and customer relationship management systems for the not for profit sector. No financial terms were disclosed. ClearCourse is backed by Aquiline Capital Partners.

PRESS RELEASE

LONDON–(BUSINESS WIRE)–ClearCourse Partnership LLP, a new partnership of innovative technology companies providing membership software and services to groups, organisations and businesses, today announced its acquisition of MillerTech, a market-leading supplier of membership and customer relationship management (CRM) systems to the Not for Profit (NFP) sector. ClearCourse has received capital backing from Aquiline Capital Partners, a New York and London-based private equity firm investing in financial services and technology.

MillerTech was founded in 1984 by Mohan Sharma and Fuad El-Hadery to develop and market contract management solutions for organisations in the NFP sector. MillerTech boasts 30 years of experience and has implemented solutions for more than 150 organisations and over 6 million members

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Netskope amasses $168.7 mln Series F

Netskope, a provider of cloud security solutions, has raised $168.7 million in Series F funding. Lightspeed Venture Partners led the round with participation from Accel, Geodesic Capital, Iconiq Capital, Sapphire Ventures, Social Capital and Base Partners. Source: Press Release

TorQuest acquires Bartek

TorQuest Partners has acquired Stoney Creek, Ontario-based Bartek Ingredients Inc, a specialty chemical manufacturer serving food and beverage and industrial end markets. No financial terms were disclosed. PRESS RELEASE TORONTO, Nov. 13, 2018 /CNW/ – TorQuest Partners (“TorQuest”) today announced the acquisition of Bartek Ingredients Inc. (“Bartek” or the “Company”), a specialty chemical manufacturer serving food & beverage and industrial end markets. Terms of the transaction were not disclosed. Headquartered in Stoney Creek, Ontario, Canada, Bartek is a global leader in the production and distribution of malic acid and fumaric acid, specialty products that improve flavor profiles, food safety, and profitability in food and beverages, add nutritive benefits while displacing antibiotics in animal nutrition formulations and contribute to the quality, safety and efficacy of industrial applications. Bartek distributes to over 35 countries around the world and employs 115 people across two production facilities in Southern Ontario. Bartek is a
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BBRG: In Defense of Wall Street

In Defense of Wall Street Jack Bogle, the Vanguard founder, has it wrong: The financial-services industry does add value to the economy. Bloomberg, November 13, 2018         The financial system subtracts value #Bogle pic.twitter.com/1jqk2T8pKh — Robin Powell (@RobinJPowell) July 14, 2018 As a vocal critic of the financial service industry’s excesses, I… Read More The post BBRG: In Defense of Wall Street appeared first on The Big Picture.

Altacrest acquires Barton Watch Bands

Altacrest Capital has acquired Austin, Texas-based Barton Watch Bands, a maker of watch bands. No financial terms were disclosed for the deal that was done in partnership with Route 2 Capital Partners. PRESS RELEASE November 13, 2018 – (Dallas, TX) – Altacrest Capital (“Altacrest”), a Dallas based private equity firm with a specialization in consumer products, has acquired Barton Watch Bands (“Barton”) www.bartonwatchbands.com, a producer of interchangeable watch bands. Founded in 2015 and based in Austin, TX, Barton Watch Bands is a rapidly growing watch band brand that designs quick release straps which can be swapped in and out without tools and allow consumers the ability to customize a wide range of traditional and smart watches. Bands are available in a variety of styles, sizes, colors, and materials including canvas, leather, nylon, and silicone. Sales are completed exclusively via eCommerce. Altacrest Capital financed this transaction in partnership
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Semiconductors Are In A Bear Market, Follow This Trading Range

Market Recap for Monday, November 12, 2018

Welcome back bears.  Welcome back volatility.  It was another day of steep losses on Wall Street, underscoring the likely end to what the bulls were hoping was a sustainable rally back to recent highs.  There was a major test last week for the bears as the Volatility Index ($VIX) had crept to within 16 (intraday low was 16.09).  For those keeping score, the VIX never dropped below 16 during each of the past two bear markets.  A certain level of fear is required to keep bear markets (or the potential for bear markets) alive.  The bears were up to the challenge as we've seen a significant bounce off of that 16-17 bear market support level:

< p class"entry-more-link">Continue reading "Semiconductors Are In A Bear Market, Follow This Trading Range" »

Semiconductors Are In A Bear Market, Follow This Trading Range

Market Recap for Monday, November 12, 2018

Welcome back bears.  Welcome back volatility.  It was another day of steep losses on Wall Street, underscoring the likely end to what the bulls were hoping was a sustainable rally back to recent highs.  There was a major test last week for the bears as the Volatility Index ($VIX) had crept to within 16 (intraday low was 16.09).  For those keeping score, the VIX never dropped below 16 during each of the past two bear markets.  A certain level of fear is required to keep bear markets (or the potential for bear markets) alive.  The bears were up to the challenge as we've seen a significant bounce off of that 16-17 bear market support level:

< p class"entry-more-link">Continue reading "Semiconductors Are In A Bear Market, Follow This Trading Range" »

Stock-in-Focus: Despite some consolidation, this Banking stock is likely to make decisive moves

Over last four to five weeks, the NIFTY Bank Index ($BANKNIFTY) has not only out-performed the  Public Sector Bank Index among the banking space, but it has also seen sharp improvement in relative momentum against the Broader Market Index $CNX500. Many of the Nifty Bank Index components are interestingly poised. One among those which catches attention is Axis Bank (AXISBANK.IN), which readies itself for a decisive move over coming days. Axis Bank (AXISBANK.IN) is one among the top 5 components of the NIFTY Bank Index and has 8.88% weight in the Index. That being said, let us examine some interesting signals that have developed on the Charts over the period of time. After under-performing over couple of years against the Broader Market Index CNX500 and Nifty Bank Index, the stock started to outperform these two benchmarks from the month of July 2018. This is evident from the vertical Continue reading "Stock-in-Focus: Despite some consolidation, this Banking stock is likely to make decisive moves"

TCV leads Sojern’s $120 mln round

Sojern has raised $120 million in a funding round led by TCV. Sojern, of San Francisco, is a travel tech company. PRESS RELEASE SAN FRANCISCO, Nov. 13, 2018 /PRNewswire/ — Sojern, the travel tech company known for its traveler path-to-purchase data and innovative travel marketing and distribution solutions, today announced that growth equity firm TCV has led a $120 million financing round in Sojern.
Sojern looks to build on its years of rapid growth and successful execution—recently marking 13 consecutive quarters of profitability—to accelerate solutions development for its clients, which include 93 percent of the world’s Fortune 500 travel companies and thousands of independent hotel properties and local tourism providers. As part of the transaction, TCV general partner Woody Marshalljoined Sojern’s Board of Directors. TCV brings extensive experience in the travel and marketing tech spaces with investments in Airbnb, Expedia, HomeAway, TripAdvisor, SiteMinder, ExactTarget, Act-On and Ariba.
Sojern offers a scalable model for driving bookings through
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10 Tuesday AM Reads

My Two-for-Tuesday morning train reads: • There’s Less to Private Equity Than Meets the Eye (Bloomberg) see also Persistence That Just Ain’t So (CFA Institute) • High-tech farmers are using LED lights in ways that seem to border on science fiction (Washington Post) • Why ‘Free Trading’ on Robinhood Isn’t Really Free (Wall Street Journal) see also Cheap is Great, But… Read More The post 10 Tuesday AM Reads appeared first on The Big Picture.

One Equity Partners to sell Sonneborn for $655 mln

One Equity Partners said Nov. 13 that it agreed to sell the operating subsidiaries of Sonneborn Holdings LP to HollyFrontier Corp for $655 million. The deal is expected to close in 2019. Sonneborn, of Parsippany, New Jersey, makes highly purified white oil, petrolatum, microcrystalline wax, sodium sulfonate and compressor lubricants for personal care, pharmaceutical, food, polymer and metal working applications. Morgan Stanley & Co LLC is acting as financial adviser and Baker McKenzie served as legal counsel to Sonneborn. PRESS RELEASE NEW YORK – NOVEMBER 13, 2018 – One Equity Partners (“OEP“), a leading middle market private equity firm, today announced the signing of a definitive agreement to sell the operating subsidiaries of Sonneborn Holdings L.P. (“Sonneborn” or “the Company”), a global leader in specialty hydrocarbon chemicals, to a subsidiary of HollyFrontier Corporation (NYSE: HFC), an independent petroleum refiner and marketer, for $655 million. The transaction is expected to close in 2019,
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