Mill Point Capital acquires Affinion Group’s insurance unit

Mill Point Capital has closed its previously announced acquisition of Stamford, Connecticut-based Affinion Group‘s insurance division, Affinion Insurance Solutions. No financial terms were disclosed. PRESS RELEASE STAMFORD, Conn., Aug. 15, 2018 /PRNewswire/ — Affinion Group, LLC, a subsidiary of Affinion Group Holdings, Inc. (together with its consolidated subsidiaries, “Affinion Group”), today announced that it has closed the previously announced sale of its insurance division, Affinion Insurance Solutions, to an affiliate of Mill Point Capital. “The successful completion of the sale of our insurance business to Mill Point Capital allows us to focus on our core business of providing leading loyalty and engagement solutions to our clients and their customers and to pay down debt,” said Todd Siegel, CEO of Affinion Group. “Not only does the sale mark our next step in becoming a pure-play loyalty solutions company, but it also provides us with greater financial flexibility.” As
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Thoma Bravo acquires Centrify

Thoma Bravo has acquired a majority stake in Centrify. The sellers include Mayfield, Accel Partners, Jackson Square Ventures and Index Ventures. No financial terms were disclosed. Kirkland & Ellis was legal adviser to Thoma Bravo on the transaction while Sidley Austin did likewise for Centrify with Barclays serving as its financial adviser. Based in Santa Clara, California, Centrify is a cybersecurity firm. PRESS RELEASE SAN FRANCISCO and SANTA CLARA, Calif., Aug. 15, 2018 /PRNewswire/ — Thoma Bravo, a leading private equity investment firm, today announced that it has become the majority investor in Centrify, the market-leading next-generation Identity & Access Management platform. Thoma Bravo acquired the interest from Centrify’s venture capital investors, led by Mayfield, Accel Partners, Jackson Square Ventures and Index Ventures. Financial details were not disclosed. Founded in 2004 and headquartered in Santa Clara, Calif., Centrify serves over five thousand customers spanning the public and private
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PSG to take majority stake in ExakTime

Providence Strategic Growth has agreed to acquire a majority stake in Calabasas, California-based ExakTime, a provider of digital time and attendance solutions for construction and field services. No financial terms were disclosed. PRESS RELEASE LOS ANGELES, Aug. 15, 2018 /PRNewswire/ — ExakTime, a two-decade leader in digital time and attendance solutions for construction and field services, today announced it has reached an agreement for a majority investment by Providence Strategic Growth (PSG). PSG is the growth equity affiliate of Providence Equity Partners, a leading global equity firm with $50 billion in assets under management. Terms of the transaction were not disclosed. Since its founding in 1999, ExakTime has been innovating game-changing workforce management solutions for construction and field services companies of all sizes. Now serving over 7,000 customers and 250,000 users daily, ExakTime equips businesses with a GPS-enabled app for field-based time and activity tracking and compliance verification, plus
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Instaclustr grabs $15 mln from Level Equity

Instaclustr, a provider of solutions for open source technologies, has raised $15 million in funding. The investor was Level Equity. PRESS RELEASE Palo Alto, California – August 16, 2018 – Instaclustr, the leading provider of completely managed solutions for scalable open source technologies, today announced it has raised $15 million from Level Equity, the New York City-based private investment firm. The funding provides Instaclustr with capital to accelerate expansion of its managed platform of core open source technologies. Instaclustr – now serving more than 100 customers from various industries – will double its headcount over the next year. Instaclustr’s revenues have grown 300% over the last 24 months and this pace is expected to continue. Instaclustr’s Open Source-as-a-Service platform delivers fully hosted and managed big data technology solutions in their 100% open source form, providing customers the data capabilities and reliability required to scale with absolute freedom from vendor
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Riverside invests in SET Industrial Services

Riverside Co said Aug 16 that it invested in SET Industrial Services Inc as an add-on to portfolio IFS Group. Financial terms weren’t announced. SET Industrial provides industrial cleaning and related on-site facility services, including vacuum truck services, tank cleaning and hydroblasting, across the Midwest. CIBC provided financing. Kostopoulos Rodriguez PLLC and Jones Day served as legal advisers for Riverside, True North Equity and IFS. PRESS RELEASE The Riverside Company Makes a Clean Sweep with Latest Investment 
SET Adds Industrial Cleaning Support to IFS Platform
The Riverside Company has invested in SET Industrial Services, Inc., (SET) an add-on to its IFS Group (IFS) platform. SET provides industrial cleaning and related on-site facility services across the Midwest, including vacuum truck services, tank cleaning and hydroblasting.
In 2015, Riverside and co-investor True North Equity established IFS as a platform holding company that provides non-discretionary industrial cleaning and related field services supporting customers
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Vista Equity invests in iCIMS

Vista Equity Partners is investing in iCIMS Inc. Financial terms weren’t announced. iCIMS, of Holmdel, New Jersey, provides recruitment technology. Susquehanna Growth Equity, the seller, will remain a shareholder. Goldman Sachs provided financial advice to iCIMS while Qatalyst advised Vista. Cooley LLP acted as legal adviser to iCIMS. Stuart E. Casillas and Natalie Logan of Kirkland & Ellis acted as legal adviser to Vista. PRESS RELEASE
Holmdel, New Jersey, Aug. 15, 2018 (GLOBE NEWSWIRE) — iCIMS Inc., a leading provider of cloud-based talent acquisition solutions, today announced that it will receive an investment by Vista Equity Partners (Vista), a market-leading private equity firm that invests in software, data and technology-enabled businesses. 

Supporting the hiring initiatives of more than 3,500 customers worldwide on its talent acquisition platform, including such notable brands as 7-Eleven, Enterprise Holdings, Southwest Airlines and Rite Aid, iCIMS is considered the leader in recruitment technology.  Employers leverage
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Investment firms explore buyout of Yum China: Reuters

HONG KONG (Reuters) – Investment firms are exploring a buyout of Yum China Holdings Inc. (YUMC.N) in what could be one of Asia’s biggest M&A deals this year, sources close to the situation told Reuters. Yum China, which had a market cap of $13 billion as of its closing price on Monday, was spun off from the KFC and Pizza Hut owner Yum Brands! Inc (YUM.N) in 2016 and later listed on the New York Stock Exchange. The firm itself has been discussing internally about switching to the Hong Kong bourse for a listing, because of the city’s proximity to the Chinese market, potentially higher valuation and its convenient timezone for executives, a separate source with knowledge of the plan told Reuters. Chinese investment firm Hillhouse Capital Group is planning to lead a consortium to buy the KFC and Pizza Hut operator in China, said four of the
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Bregal Sagemount backs merging Align General and Catalytic

Insurance firms Align General Insurance Agency and Catalytic Risk Managers are merging and securing funding from Bregal Sagemount. No financial terms were disclosed. PRESS RELEASE San Diego, CA – August 14, 2018 – Align General Insurance Agency (“Align General”) and Catalytic Risk Managers (“Catalytic”) today announced they are coming together under a single ownership structure and are receiving a strategic investment from Bregal Sagemount intended to support their continued expansion. Align General is a leading specialty property and casualty insurance program manager and Catalytic is the largest independent property catastrophe underwriting manager in the U.S. marketplace. Both Align General and Catalytic – which was formed by Align General in 2013 – have consistently grown at industry leading rates since inception. The investment from Bregal Sagemount will be used to support the companies’ continued growth through expansion of existing programs, new line launches, and strategic acquisitions. “We are delighted to
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Dominus invests in BluSky

Dominus Capital has made an investment in Centennial, Colorado-based BluSky Restoration Contractors LLC, a provider of restoration, renovation, environmental and roofing services. No financial terms were disclosed. PRESS RELEASE CENTENNIAL, Co., August 15, 2018 /PRNewswire/ — Dominus Capital, L.P. (“Dominus”) and affiliates have completed their investment in BluSky Restoration Contractors, LLC (“BluSky”), which provides restoration, renovation, environmental and roofing services to all commercial and multifamily real estate classes across the U.S. and Puerto Rico. Management will be reinvesting alongside Dominus in the transaction to continue to participate in the ongoing growth of BluSky. With an emphasis on large loss projects, BluSky’s employees bring experience and teamwork to anyone who owns or manages property, provides property insurance, or manages property insurance claims. The company was founded on the values of traditional craftsmen and family-owned businesses, driving superior customer service as embodied by BluSky’s 96 Proof philosophy –
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KCM recaps Atlantic Beverage

KCM Capital Partners LLC has recapitalized Edison, New Jersey-based Atlantic Beverage, a specialty importer and distributor of food and beverage products. No financial terms were disclosed for the transaction that was done in partnership with Huron Capital, Stonehenge Partners and Atlantic Beverage management. Katten Muchin Rosenman LLP provided legal counsel to KCM. PRESS RELEASE Chicago, IL – August 15, 2018 – Chicago-based private investment firm KCM Capital Partners LLC (“KCM”), an investor in lower middle market business services, value-added distribution and specialty industrial businesses, announced today that it has completed the recapitalization of Atlantic Beverage Company, Inc. (“Atlantic Beverage” or the “Company”). The transaction was completed in partnership with Company management, Detroit, MI-based private equity firm Huron Capital and Columbus, OH-based private investment firm Stonehenge Partners. Terms of the transaction were not disclosed. Founded in 1986, Atlantic Beverage is an Edison, New Jersey-based specialty importer and distributor of more
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Brazil’s Patria Investimentos considers bid for Cesp, says source: Reuters

Brazilian asset management firm Pátria Investimentos is considering a bid for power generation company Companhia Energética de São Paulo (CESP6.SA), known as Cesp, one source with knowledge of the matter said. Pátria, which has an association with Blackstone Group LP, (BX.N), is considering a bid on the privatization auction scheduled for Oct. 2. Patria, Cesp and its controlling shareholder, the state of Sao Paulo, declined to comment.

RSV acquires Eyenalyze

Rising Sun Ventures has acquired a majority stake in Arkansas-based Eyenalyze, a software firm focused on data analytics for restaurant owners and franchises. No financial terms were disclosed. PRESS RELEASE PLEASANTON, Calif., Aug. 14, 2018 /PRNewswire/ — Rising Sun Ventures announces its purchase of a majority stake in Eyenalyze, an Arkansas-based software firm specialized in data analytics for restaurant owners and franchises. Its subscription-based service empowers restaurant managers, executives and business owners with customized, data-driven insights to maximize profitability. Eyenalyze is a private company founded in 2013. “We were fortunate to find the ideal partner in Rising Sun to help accelerate our growth, increase our market share and expand our suite of products and services for restaurant back-office solutions. They bring an unparalleled innovation and expertise in integrated software solutions, payment technologies and mobile payment infrastructure that has proven to be the perfect complement to our API which
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Blackstone may buy stake in India’s Jet Airways loyalty arm: Bloomberg

(Reuters) – U.S. private equity firm Blackstone Group LP (BX.N) is in talks to acquire a stake in the frequent-flier loyalty program of Jet Airways (India) Ltd (JET.NS), Bloomberg reported on Wednesday, citing people familiar with the matter. A potential deal could value the loyalty program, Jet Privilege Private Ltd, between 30 billion rupees and 40 billion rupees ($429.1 million-$572.1 million) and would be dependant on Jet Airways securing adequate funding for its airline operations, Bloomberg said. The Indian carrier and its partner Etihad Airways will remain investors in Jet Privilege even after a potential Blackstone transaction, Bloomberg said. Etihad owns 50.1 percent of the loyalty program, while Jet Airways owns the rest. “As a minority shareholder (in Jet Airways), Etihad continues to work constructively with the Jet Airways board, promoter and management team,” an Etihad spokesman said in an
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Blackstone may buy stake in India’s Jet Airways loyalty arm: Bloomberg

(Reuters) – U.S. private equity firm Blackstone Group LP (BX.N) is in talks to acquire a stake in the frequent-flier loyalty program of Jet Airways (India) Ltd (JET.NS), Bloomberg reported on Wednesday, citing people familiar with the matter. A potential deal could value the loyalty program, Jet Privilege Private Ltd, between 30 billion rupees and 40 billion rupees ($429.1 million-$572.1 million) and would be dependant on Jet Airways securing adequate funding for its airline operations, Bloomberg said. The Indian carrier and its partner Etihad Airways will remain investors in Jet Privilege even after a potential Blackstone transaction, Bloomberg said. Etihad owns 50.1 percent of the loyalty program, while Jet Airways owns the rest. “As a minority shareholder (in Jet Airways), Etihad continues to work constructively with the Jet Airways board, promoter and management team,” an Etihad spokesman said in an
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Eagle Merchant and JLM Financial fund Recreational Group

Eagle Merchant Partners and JLM Financial Partners have made an investment in Recreational Group, a provider of residential and commercial recreational surfacing products. No financial terms were disclosed. PRESS RELEASE (PRWEB) AUGUST 14, 2018 Eagle Merchant Partners and JLM Financial Partners have closed their investment in the Recreational Group, a leading provider of residential and commercial recreational surfacing products across the country. The move capitalizes on the rapidly-growing artificial turf and sports surfacing industry, with products used across a wide range of markets and customers. Founded in 1998, Recreational Group has grown to more than $45MM in sales through strategic acquisitions and organic growth. The recreational surfacing industry has become more popular as it is environmentally sustainable, affordable and maintenance free, which has driven both residential and commercial uses. It allows families to spend more time together in their backyards and less time working in the yard, and allows
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Blue Point recaps Next Level Apparel

Blue Point Capital Partners has recapitalized Gardena, California-based Next Level Apparel, a maker of casual apparel for the promotional product, ad specialty and other decorated apparel markets. No financial terms were disclosed. PRESS RELEASE CLEVELAND, OH (August 14, 2018) – Blue Point Capital Partners, in partnership with management, announced today the recapitalization of Next Level Apparel, Inc. (www.nextlevelapparel.com), a designer and supplier of quality, casual apparel to the promotional product, ad specialty and other decorated apparel markets. Jeff Robich, a Principal with Blue Point, said, “Next Level is an established platform operating in the rapidly growing fashion basics category with significant avenues for future growth. The Company’s leading position, strong relationships and brand reputation with the major distributors and decorators make this a great opportunity for Blue Point to be a value-added partner and help facilitate the Company’s continued growth.” Next Level was founded in 2003
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AlpInvest provides $260 mln to Stagwell Group

Stagwell Group has raised $260 million in funding from AlpInvest Partners. Mercury Capital Advisors provided financial advice to Stagwell Group on the transaction. Stagwell Group is an investment firm formed by ex-Bill Clinton adviser Mark Penn. PRESS RELEASE WASHINGTON, D.C. (August 14, 2018). The Stagwell Group and AlpInvest Partners today announced the completion of a $260 million capital raise by Stagwell Media LLC from investment funds managed by AlpInvest Partners, a global private equity investor. Since its founding in 2015, Stagwell Group has completed seventeen investments and is on track for more than $400 million in consolidated net revenue this year. The new investment will support Stagwell’s strategy of building a network of innovative marketing and research companies. “The marketing landscape is in the midst of a dramatic transformation and we are excited to have AlpInvest support our mission in creating a network of strategists and tacticians that
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VTG calls on suitor Morgan Stanley Infrastructure to hike bid: Reuters

Rail logistics group VTG (VT9G.DE) said on Tuesday that Morgan Stanley Infrastructure should sweeten its takeover offer but added the suitor had not shown any willingness to do so. “There is certainly room for improvement,” Chief Executive Heiko Fischer told Reuters, confirming the target’s critical view of the 53 euros-per-share bid. The U.S. investor announced a cash takeover offer for VTG last month after securing a large stake from German billionaire Klaus Michael Kuehne. Kuehne Holding AG agreed to sell around 20 percent of VTG for more than 300 million euros ($342 million), raising Morgan Stanley Infrastructure’s stake in the company to 49 percent.

Pattern Energy and PSP Investments buy Canadian power facility

Pattern Energy Group Inc and the PSP Investments have acquired the Canada-based Mont Sainte-Marguerite Wind power facility. According to terms of the deal, Pattern Energy acquired a 51 percent stake in Mont Sainte-Marguerite for about $40 million, while PSP Investments acquired the remaining 49 percent stake. Pattern Energy will operate the facility. PRESS RELEASE MONTREAL, Aug. 14, 2018 /PRNewswire/ — Pattern Energy Group Inc. (NASDAQ and TSX: PEGI) (“Pattern Energy” or the “Company”) and the Public Sector Pension Investment Board (“PSP Investments”) today announced the acquisition of the 147 megawatt (MW) Mont Sainte-Marguerite Wind power facility from Pattern Energy Group LP (“Pattern Development 1.0”). Mont Sainte-Marguerite Wind is located approximately 50 kilometers south of Québec City, in the Chaudière-Appalaches region. Mont Sainte-Marguerite Wind is fully operational and has been jointly acquired pursuant to a prior-agreed purchase-and-sale agreement. Pattern Energy acquired a 51% interest in Mont Sainte-Marguerite for a total
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