PE-backed George Industries names Cohen as president

George Industries LLC, a portfolio company of Orangewood Partners, has appointed Jon Cohen as president. Cohen’s work background includes senior leadership and operational roles at a number of companies, including Lockheed Martin. Based in Endicott, New York, George is a maker of engineered aerospace, defense and industrial components. PRESS RELEASE ENDICOTT, NY – August 17, 2018 — George Industries LLC (“George”), a leading manufacturer of engineered aerospace, defense and industrial components and a portfolio company of Orangewood Partners (“Orangewood”), today announced it has named Jon Cohen, an industry veteran with more than 35 years of experience across the aerospace, defense and industrial sectors, as President. In this new role, Mr. Cohen will be responsible for all operations, including manufacturing sites in Endicott, NY and Wheeling, IL, and finance. Shankar Kiru, George’s Chief Executive Officer, will focus on leading strategy, business development and external partnership relationships to accelerate both
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Threads snags $20 mln Series A

London-based Threads, a luxury retailer that serves the millennial and Generation Z market, has secured $20 million in Series A funding. The investors were C Ventures and Highland Europe. PRESS RELEASE London, 17 August 2018 Threads, a chat commerce business that helps millennials find the right luxury outfit and accessories through social media and messaging, has raised $20m in series A from C Ventures, Moda Operandi’s lead investor, and Highland Europe, one of matchesfashion.com’s biggest investors. Threads (@threadsstyling) is changing the luxury retail landscape by giving consumers a personal shopper in their pocket. The company uses WhatsApp, Instagram, Snapchat and WeChat to help customers find the best luxury items for every occasion, wherever they are in the world. Since day one Threads has focused on high net worth millennial shoppers, since these were being ignored by conventional luxury shopping channels. London-based Threads is evolving luxury retailing in a
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DoorDash raises $250 mln more at $4 bln valuation

San Francisco-based DoorDash, which operates an on-demand restaurant delivery service, announced that it raised $250 million in a growth round co-led by Coatue Management and DST Global. The company, founded in 2013, has now raised about $1 billion in funding. DoorDash said in a blog post that it’s been a breakout year for the, with 250 percent year-over-year growth and a near doubling of its footprint since January to more than 1,000 cities in the United States and Canada. Source: Press release

Wynnchurch recruits MacKay as senior associate

Wynnchurch Capital has hired Michael MacKay as a senior associate. Previously, MacKay was a senior associate at Pritzker Group Private Capital. PRESS RELEASE Rosemont, IL – August 16, 2018 – Wynnchurch Capital, LLC (“Wynnchurch”), a leading middle-market private equity firm, announced today that it is expanding its team with the addition of Michael MacKay, who has joined the firm as a Senior Associate. Mr. MacKay is focused on reviewing and pursuing new investment opportunities and working with existing portfolio companies. Chris O’Brien, Managing Partner at Wynnchurch, said, “We are excited to have Mike join the team at Wynnchurch. He brings great experience that will allow him to contribute immediately to the multiple investment opportunities we have under review. We look forward to working with him as we continue to expand the capabilities of the firm.” Prior to joining Wynnchurch, Michael served as a Senior Associate with Pritzker Group Private
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PE-backed JD Beauty acquires Ouidad

JD Beauty Group, a portfolio company of Topspin Partners, has acquired Ouidad, a curl expert haircare and styling brand. No financial terms were disclosed. Stifel was financial adviser to Ouidad on the deal. PRESS RELEASE HAUPPAGUE, NY, Aug. 15, 2018 (GLOBE NEWSWIRE) — JD Beauty Group is pleased to announce the acquisition of Ouidad, the curl expert haircare and styling brand. Beloved by North American salon professionals, this dynamic company will join the JD Beauty group of industry-leading hair brands WetBrush and Bio Ionic. This acquisition further diversifies JD Beauty’s product offerings, now adding haircare and styling to its existing hair brush and electrical appliance portfolio. Founded over three decades ago, Ouidad is an award-winning expert in curly hair. Ouidad’s formulas use the most sophisticated ingredients and combine decades of experience with the latest in scientific breakthroughs, while their certified salons and flagship locations are staffed by
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PE-backed Prism buys EHG

Prism Spectrum Holdings LLC, which is backed by White Oak, has acquired Raleigh, North Carolina-based Environmental Holdings Group LLC, an environmental and demolition contractor. No financial terms were disclosed. PRESS RELEASE PITTSBURGH (PRWEB) AUGUST 16, 2018 PRISM Spectrum Holdings, LLC (PRISM), an environmental remediation and demolition contractor based in Pittsburgh, PA, announced today that it has acquired Environmental Holdings Group, LLC (EHG), an environmental and demolition contractor based in Raleigh, NC. EHG is an industry leader in environmental hazard abatement and demolition, being ranked as one of the top 5 largest abatement firms in the nation by Engineering News Record (ENR) Magazine. Founded in 2001, EHG’s operates throughout the South from 7 offices. With over 6,000 environmental and demolition projects to its credit, EHG has consistently and profitably grown into one of the top providers of services in its field. Known for a remarkable ability to offer
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Pantera Capital raises $71.5 mln for third venture fund

Pantera Capital has raised $71.5 million for a third venture fund, according to a regulatory filing. The Menlo Park-based firm invests in blockchain technology and cryptocurrencies, and is led by Daniel Morehead and Matthew Gorham. The fund filing, which lists the total offering amount as indefinite, lists 90 investors.

Lagardere agrees to buy U.S. airport food group HBF for $330 million: Reuters

Lagardere travel retail, a division of French conglomerate Lagardere (LAGA.PA), said on Wednesday it had agreed to buy U.S.-based Hojeij Branded Foods for $330 million as it refocuses on services like airport shops. HBF, based in Atlanta, operates restaurants and coffee shops in airports with partner brands such as Italy’s illycaffe, and also owns some like Vino Volo, a wine bar group it bought last year. Lagardere has been looking to sell off some assets such as Elle magazine as it moves away from the tougher media industry, though boss Arnaud Lagardere has said he wanted to hang onto publications like Paris-Match. He had flagged travel retail as one focus for fresh investments, and publishing. The HBF acquisition, which should close in the fourth quarter of 2018, will entail costs savings of around $10 million annually from the fourth year after the acquisition, the French group said
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Lagardere agrees to buy U.S. airport food group HBF for $330 million: Reuters

Lagardere travel retail, a division of French conglomerate Lagardere (LAGA.PA), said on Wednesday it had agreed to buy U.S.-based Hojeij Branded Foods for $330 million as it refocuses on services like airport shops. HBF, based in Atlanta, operates restaurants and coffee shops in airports with partner brands such as Italy’s illycaffe, and also owns some like Vino Volo, a wine bar group it bought last year. Lagardere has been looking to sell off some assets such as Elle magazine as it moves away from the tougher media industry, though boss Arnaud Lagardere has said he wanted to hang onto publications like Paris-Match. He had flagged travel retail as one focus for fresh investments, and publishing. The HBF acquisition, which should close in the fourth quarter of 2018, will entail costs savings of around $10 million annually from the fourth year after the acquisition, the French group said
Continue reading "Lagardere agrees to buy U.S. airport food group HBF for $330 million: Reuters"

Lagardere agrees to buy U.S. airport food group HBF for $330 million: Reuters

Lagardere travel retail, a division of French conglomerate Lagardere (LAGA.PA), said on Wednesday it had agreed to buy U.S.-based Hojeij Branded Foods for $330 million as it refocuses on services like airport shops. HBF, based in Atlanta, operates restaurants and coffee shops in airports with partner brands such as Italy’s illycaffe, and also owns some like Vino Volo, a wine bar group it bought last year. Lagardere has been looking to sell off some assets such as Elle magazine as it moves away from the tougher media industry, though boss Arnaud Lagardere has said he wanted to hang onto publications like Paris-Match. He had flagged travel retail as one focus for fresh investments, and publishing. The HBF acquisition, which should close in the fourth quarter of 2018, will entail costs savings of around $10 million annually from the fourth year after the acquisition, the French group said
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Progressa raises $84 mln in debt, equity in advance of IPO

Vancouver-based financial technology company Progressa said it closed a debt and equity financing of C$84 million. Canaccord Genuity and Gravitas Securities led the equity funding. They were joined by a syndicate that included Eight Capital and Paradigm Capital. The investment facilitates a loan purchasing program of up to C$72 million with Cypress Hills Partners, a Canadian merchant banking firm. Progressa said it expects the private round to be its last, as the company has begun preparing for an initial public offering next year. Founded in 2013 and led by CEO Ali Pourdad, Progressa is an alternative lender focused on helping consumers resolve overdue bills and other outstanding debts. PRESS RELEASE TORONTO, Aug. 14, 2018 (GLOBE NEWSWIRE) — Progressa, a Vancouver and Toronto based financial technology company, announced today it has successfully closed an $84 million equity and loan funding round. The equity financing was co-led by Canaccord Genuity Corp.
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Carbyne fetches $15 mln Series B

Tel Aviv and New York-based Carbyne, a provider of public safety solutions, has secured $15 million in Series B financing. Elsted Capital Partners led the round with participation from Founders Fund. Source: Press Release

Perkins Coie adds new partner for ECVC practice

Law firm Perkins Coie has named Matt Oshinsky as a partner for its emerging companies and venture capital practice. Previously, he was a partner at DLA Piper. PRESS RELEASE PALO ALTO (August 15, 2018) – Perkins Coie is pleased to announce that Matt Oshinky has joined the firm’s Emerging Companies & Venture Capital (ECVC) practice as a partner in the Palo Alto office. His addition is the latest in a string of hires for the ECVC practice this year, coming on the heels of recent hires Adrian Rich, Geoffrey Ossias and Matt Kirmayer. “Matt has a strong presence in the Bay Area tech sector, and his knowledge of the startup and venture capital landscape is impressive,” said Lowell Ness, Perkins Coie’s Palo Alto Office Managing Partner. “Over the years, Matt has crossed paths with many attorneys in our Palo Alto office, and he has received much praise for his quality
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SFOX attracts $22.7 mln Serise A

SFOX, a cryptocurrency prime dealer for high-volume traders and institutional investors, has raised $22.7 million in Series A funding. Tribe Capital and Social Capital led the round with participation from Y Combinator, Khosla Ventures, DHVC, Blockchain Capital, Upside Partnership, SV Angel, DCG, Mark Britto and Airbnb co-founder Nathan Blecharczyk. Source: Press Release

Arcadia Power lands $25 mln Series B

Arcadia Power, a developer of a digital utility, has raised $25 million in Series B funding. G2VP led the round with participation from other investors that included ValueAct Spring Fund, McKnight Foundation, Energy Impact Partners, Cendana Capital, Wonder Ventures and BoxGroup. Source: Press Release

Openspace Ventures wraps up second fund at $135 mln

Openspace Ventures has closed its second fund at a hard cap of $135 million. Fund 2’s investors include Stepstone Group and Temasek as well as pension funds, university endowments, insurance companies and family offices. Based in Singapore and Jakarta, the venture firm invests in tech companies in Southeast Asia. PRESS RELEASE SINGAPORE, Aug. 16, 2018 /PRNewswire/ — Openspace Ventures (previously NSI Ventures) is pleased to announce the final close of Fund 2 on August 10, 2018 with total subscriptions accepted up to US$135mm. Including Fund 1, Openspace now has in total US$225mm committed capital from its limited partners (excluding managed co-investments). Investors in Fund 2 include a range of institutional investors from US, Australia, Europe, Japan, China, Korea and Singapore across pension funds, university endowments, insurance companies and family offices. Disclosed investors include Stepstone Group and Temasek. “We are very grateful for the ongoing support of our long-term investors –
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