Michael Dusi Logistics pulls in funding

Paso Robles, California-based Michael Dusi Logistics, a third-party logistics firm that caters to the wine and craft beer industry, has secured an undisclosed amount of funding. The investors were Tattooed Dog Holdings and Headhaul Capital Partners LLC. Bluejay Advisors, LLC advised the investors on the transaction. PRESS RELEASE PASO ROBLES, Calif., March 16, 2018 /PRNewswire/ — Michael Dusi Trucking, LLC and Michael Dusi Logistics Warehouse, LLC (collectively “Michael Dusi Logistics” or “MDL”) announced today an investment by Tattooed Dog Holdings and Headhaul Capital Partners LLC. MDL provides a broad suite of specialized logistics solutions to the California wine and craft beer industry including value-added warehousing, direct-to-consumer fulfillment and wine clubs, regional bulk, refrigerated, flatbed and dry-van trucking as well as truckload and LTL brokerage. Proceeds from the investment will be used to support the Company’s growth initiatives and for general working capital purposes. Bluejay Advisors, LLC advised the
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RCIE taps PE firm founder as president and CEO

The Russell Center for Innovation & Entrepreneurship, an Atlanta-based community with lab-to-market resources for emerging industries, has named James Bailey as president and CEO. Previously, Bailey was a founder of Greenwood Archer, a private equity firm focused on investing in emerging domestic markets, urbanization and affordable housing. PRESS RELEASE ATLANTA, March 16, 2018 /PRNewswire/ — The Russell Center for Innovation & Entrepreneurship (RCIE) announces the hiring of James “Jay” Bailey as its President and CEO, effective March 2018. Bailey joins RCIE with more than a decade of senior leadership experience in the non-profit and economic empowerment space. Most recently, Bailey founded one of the nation’s most innovative private equity firms, Greenwood Archer – dedicated to reimagining the way America’s most under-served communities leverage assets, establish wealth, strengthen infrastructure and create jobs. Before Greenwood Archer, Bailey served as CEO for the Southeastern Region of Operation HOPE, a global nonprofit
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PE-backed STX Entertainment promotes Röckenwagner to chief brand officer

STX Entertainment, a next-generation media company, has promoted Patricia Röckenwagner to chief brand officer. Prior to joining STX, Röckenwagner was senior adviser at Advance Vixeid Partners, the investment arm of Advance Publications and Condé Nast. STX’s backers include TPG, Hony Capital, Tencent Holdings and DNS Capital. PRESS RELEASE BURBANK, Calif., March 15, 2018 /PRNewswire/ — Robert Simonds, Chairman and CEO, STX Entertainment, today announced the promotion of executive Patricia Röckenwagner to Chief Brand Officer. In this newly created role, she will oversee all aspects of communications and marketing for the global STX brand, its strategic positioning and the company culture. Röckenwagner will continue to be a key member of STX’s leadership team, and will collaborate with the studio’s film, digital, television and VR divisions to maximize brand equity. “With the constant state of change in our industry and STX’s meteoric growth, it’s more critical than ever to
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Sparkling water Spindrift takes in $20 mln

Newton, Massachusetts-based Spindrift, a sparkling water made with real fruit, has raised $20 million in funding. VMG Partners led the round with participation from other investors that included Prolog Ventures, KarpReilly and RiverPark Ventures. Source: Press Release

Clearlake closes Fund V on more than $3.6 bln

Clearlake Capital Group closed its fifth fund on more than $3.6 billion, reaching its hard cap. The fifth fund started investing and closed or signed several investments including Perforce Software, Diligent Corp, Janus International, ProVation Medical and Wheel Pros. Fund V included more than 150 institutional investors from more than 25 companies across North America, South America, Asia, Europe and the Middle East. LPs included public and corporate pensions, sovereign wealth funds, insurance companies, foundations and endowments and family offices. Credit Suisse worked as placement agent on the fundraising. Press Release Clearlake Capital Group, L.P. (“Clearlake”), a leading investment firm with a sector-focused approach, announced today it has completed fundraising for Clearlake Capital Partners V (“Fund V”) with over $3.6 billion in commitments. Fund V exceeded its target and was substantially oversubscribed, reaching its hard cap. At over $3.6 billion, Fund V is
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180 Health Partners collects $8 mln Series B

Nashville-based 180 Health Partners, which provides care coordination between opioid addicted mothers and healthcare providers, has raised $8 million in Series B financing. Spring Mountain Capital led the round with participation from Frist Cressey Ventures, Resolute Venture Partners and Altitude Ventures. Source: Press Release

PE-backed MFG Chemical buys GBC

MFG Chemical, which is owned by Platte River Equity, has acquired Houston-based Gulf Bayport Chemicals, a maker of maleic anhydride derivatives. PRESS RELEASE DALTON, Ga., March 15, 2018 /PRNewswire/ — MFG Chemical, a specialty chemical manufacturer of polymers, surfactants and esters, announced today that it has acquired Gulf Bayport Chemicals LP (“GBC” or the “Company”). Headquartered in Houston, TX, with plant operations in Pasadena, TX, GBC is a manufacturer of maleic anhydride derivatives and provides a variety of contract manufacturing, warehouse and transportation services for a range of industrial end markets. “The acquisition of GBC expands MFG’s geographic footprint into the Gulf Coast, demonstrating commitment to our customers in the region,” said Keith Arnold, CEO of MFG Chemical. “We are excited for this acquisition and the growth opportunities it will provide to MFG in the future.” The addition of GBC brings a world-class chemical facility
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PE-backed InterVision Systems buys Bluelock

InterVision Systems, which is backed by Huron Capital, has acquired Indianapolis-based Bluelock, a provider of disaster recovery and infrastructure-as-a-service solutions. No financial terms were disclosed. Q Advisors provided financial advice to InterVision and Huron Capital on the transaction. PRESS RELEASE Detroit, MI – March 15, 2018 – Leading lower-middle-market private equity firm Huron Capital today announced its information technology solutions platform InterVision Systems has acquired Indianapolis, Indiana-based Bluelock, an industry leader in disaster recovery and infrastructure as a service solutions. For more than a decade Bluelock has provided expertise, guidance, and proactive support to help organizations mitigate IT risks surrounding complex environments and sensitive data through disaster recovery as a service and infrastructure as a service solutions. Bluelock is recognized by technology research firms Gartner and Forrester as a visionary and leader in its category. “InterVision has the services, solutions, people, and technical expertise to serve clients
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Private equity lawyer Clark rejoins Dechert as partner

Timothy M. Clark has rejoined the law firm Dechert as a partner in the New York office focusing on investment funds and secondary deals. Previously, Clark was a partner at O’Melveny & Myers. PRESS RELEASE NEW YORK, NY – Dechert LLP is pleased to announce that Timothy M. Clark has rejoined the firm as a partner in the New York office focusing on investment funds and secondary transactions. He was previously a partner at O’Melveny & Myers. The move significantly boosts Dechert’s continuing growth in the private funds and private equity transactions space. Mr. Clark is a highly rated practitioner with over 20 years’ experience in the investment funds industry representing clients in matters related to fund formation, mergers and acquisitions investments and private fund investments. More specifically, he represents clients on a range of matters including infrastructure, buyouts, real estate, mezzanine funds, global macro funds, distressed funds, long/short equity
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UK car subscription company Drover rides off with funding

UK-based car subscription company Drover has secured 5.5 million pounds in funding. Cherry Ventures, Partech and BP Ventures led the round. PRESS RELEASE London – 15th March 2017: Drover, a marketplace company pioneering monthly, all-in car subscriptions in the UK, is happy to announce that it has just raised a £5.5 million funding round that was co-led by venture capital firms Cherry Ventures, Partech and BP Ventures, with continued participation from existing investors. Version One and Forward Partners previously invested £2 million in Drover’s pre-seed round, bringing the funding of the company to £7.5 million in total. The capital will be used to scale the business further and invest in its engineering and product team. As part of the round, Christian Meermann, founding partner of Cherry Ventures, and Romain Lavault, General Partner at Partech Ventures, are joining Drover’s board of directors, alongside Boris Wertz of Version One
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Baring Private Equity Asia and CITIC Capital completes WSE acquisition for $300 mln

Baring Private Equity Asia and CITIC Capital has closed its previously announced acquisition of Wall Street English for $300 million. The seller was Pearson. WSE is an English language training network. PRESS RELEASE 15 March 2018, Barcelona: Today the $300 million sale of Wall Street English (WSE) by Pearson to funds affiliated with Baring Private Equity Asia (BPEA) and CITIC Capital Holdings Limited (CITIC Capital) was closed, after all necessary regulatory approvals for the deal were granted earlier in the year. WSE represents a unique investment opportunity for the two new owners. With over 400 centres and 180,000 students in 28 countries, WSE has a high quality and scalable platform to capture the growth of the adult English language market globally. With future investment targeting new centre opening and ongoing investment in product development, BPEA and CITIC Capital will support WSE’s expansion in existing growth markets including China and new
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Maitland beefs up staff with new hire

Maitland, a global advisory and fund administration firm, has named Frank Ferrara as senior client service manager. Previously, Ferrara worked at Rhone Group. PRESS RELEASE NEW YORK – March 15, 2018 – Maitland, the global advisory and fund administration firm, has announced the appointment of its newest Senior Client Service Manager, Frank Ferrara, as part of the continued expansion of its private equity fund administration services. Frank will work alongside David Dwyer, Business Development Manager – Private Equity and Ben Pershick, Head of North America Private Equity to manage a growing new business pipeline, client onboardings, and existing relationships. Frank brings a wealth of experience in the private equity operational space. Based in New York, he will be instrumental, overseeing the service platform, data migration and relationship management for clients. Frank Ferrara says: “Maitland’s institutional strength, combined with a unique customer-centric approach, means that we are well placed to
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Foxtrot bags $6 mln Series A

Chicago-based Foxtrot, a “next-generation corner store,” has secured $6 million in Series A funding. Fifth Wall led the round with participation from  Lerer Hippeau, Revolution’s Rise of the Rest Seed Fund, Collaborative VC, BoxGroup, Maveron, M3 Ventures and The University of Chicago. PRESS RELEASE CHICAGO, Illinois – March 15, 2018 – Foxtrot, the next generation corner store, announced today the closing of a $6 million Series A round of financing led by Fifth Wall, the largest venture capital firm focused on the Built World. With the new funds, Foxtrot will take its successful retail model and grow the team to support the expansion of its on-demand e-commerce delivery business, and the opening of additional retail stores in Chicago later this year and national expansion in early 2019. The future of retail is on-demand, curated products and experiences, and Foxtrot has built a loyal customer base eager for service and
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Owl Ventures leads $15 mln round for Kiddom

San Francisco and New York City-based Kiddom, a collaborative learning platform for teachers, has raised $15 million in Series B funding, according to a source familiar with the transaction. Owl Ventures led the round with participation from other investors that included Khosla Ventures.

Drake Star Partners appoints Metzger as partner

Drake Star Partners, a technology, media and communications-focused investment bank, has named Michael Metzger as a partner in the Los Angeles office. Previously, Metzger was a senior investment banker at Houlihan Lokey’s TMT group. PRESS RELEASE LOS ANGELES (March 15, 2018) – Award-winning technology, media and communications global investment bank Drake Star Partners announced today that seasoned media and Internet investment banker Michael Metzger is joining the firm as a Partner in the Los Angeles office. Michael will be focusing on media, Internet and the tech sectors. This announcement follows Drake Star Partners’ recent office launch in San Francisco back in September 2017, with Mark Bradt joining as the firm’s first Partner based in the Bay Area. Michael Metzger’s appointment as a Los Angeles-based Partner further extends Drake Star Partners’ coverage in the West Coast. Gregory Bedrosian, Managing Partner and Co-CEO at Drake Star Partners, commented: “Michael brings
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Nippon Steel to buy Sweden’s Ovako to expand Europe specialty steel business: Reuters

Nippon Steel & Sumitomo Metal Corp (5401.T) on Thursday said it will buy Sweden’s Ovako which makes specialty steel used in industries including wind power generation and robotics, a move that gives Japan’s biggest steelmaker a manufacturing base in Europe. The purchase, its second international foray announced this month, also gives Nippon Steel a sales network in Europe besides adding 780,000 tonnes of annual output to the Japanese company’s roughly 45 million tonnes. Nippon Steel said on March 2 that it would boost investment, including mergers and acquisitions to 600 billion yen over the next three years to expand overseas. On the same day, it said it would join ArcelorMittal SA (MT.AS), the world’s largest steelmaker, to bid for Essar Steel India Ltd, which was placed in bankruptcy court last year. Terms will not be disclosed for the takeover of Ovako, which is owned by Triton, an investment
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Africa’s Helios ditches London IPO plans, Congo turmoil weighs: Reuters

African mobile phone mast firm Helios Towers on Thursday pulled its plans to list in London, with one banker saying the expected IPO price was too low for shareholders who had been valuing the firm at as much as 2 billion pounds ($2.8 billion). Helios, which operates phone masts in Ghana, Congo Republic, Democratic Republic of Congo and Tanzania, said it had received “considerable interest” from institutional investors who liked its business plan and growth prospects. However, without giving reasons, it said shareholders had decided to withdraw from the listing, which had been scheduled for next month. The banker involved on the deal said investors were worried about the political and policy risks in Democratic Republic of Congo (DRC) and Tanzania. “The valuation from market feedback was not enough for the shareholders. We had a lot of interest from investors but they wanted a discount for the political risk
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VC-backed Arcus Biosciences goes public

Hayward, California-based Arcus Biosciences, a developer of cancer immunotherapies, has raised $120 million for its IPO after pricing its 8 million shares at $15 per share. The stock began trading March 15, 2018 on the New York Stock Exchange under the ticker symbol “RCUS.” Citigroup, Goldman Sachs and Leerink Partners are the lead underwriters. The investors included Taiho Ventures, GV, Invus, DROIA Oncology Ventures, Stanford University, The Column Group, Foresite Capital, Novartis and Celgene. PRESS RELEASE HAYWARD, Calif.–(BUSINESS WIRE)–Arcus Biosciences (NYSE: RCUS), a clinical-stage biopharmaceutical company focused on creating innovative cancer immunotherapies, today announced the pricing of its initial public offering of 8,000,000 shares of common stock at a price to the public of $15.00 per share for total gross proceeds of $120,000,000. The Company has also granted the underwriters a 30-day option to purchase from the Company an additional 1,200,000 shares of common stock at
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