SiriusXM acquires VC-backed Automatic Labs

SiriusXM has acquired San Francisco-based Automatic Labs Inc, a provider of connected vehicle services. No financial terms were disclosed. Financial Technology Partners served as financial adviser to Automatic on the deal. Automatic’s backers included USAA, Comcast Ventures, eLab Ventures, Anthemis Group and Amicus Capital. PRESS RELEASE NEW YORK, April 27, 2017 /PRNewswire/ — SiriusXM today announced the acquisition of Automatic Labs Inc. (Automatic), a San Francisco-based provider of connected vehicle services for consumers and enterprises. Automatic’s data-driven platform enables vehicle owners to be safer and drive smarter. The company’s proprietary Automatic Pro and Automatic Lite connected car adapters (available at retailers and www.automatic.com) provide vehicle diagnostic alerts, emergency crash assistance, fuel monitoring, access to parking information, live vehicle location tracking and much more. Automatic also works with insurance carriers to enable usage-based savings and teen driver coaching, and works with automotive dealers to provide tools that help
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HgCapital to sell Qundis

HgCapital has agreed to sell Qundis, a European provider of sub-metering solutions to Kalorimeta. No financial terms were disclosed. Rothschild, Latham and Watkins, Deloitte and E&Y advised HgCapital on the transaction. PRESS RELEASE 26 April 2017: HgCapital is pleased to announce that it has agreed the sale of QUNDIS, a leading provider of sub-metering solutions in Europe, to a German investment group around KALORIMETA (“KALO”), a leading service providers for climate-intelligent solutions in the buildings sector. Furthermore, HgCapital will retain a minority position in the combined group. HgCapital initially invested in QUNDIS in May 2012. Headquartered in Germany, QUNDIS was created in 2008 from the merger of QVEDIS (previously part of Siemens) and KUNDO SystemTechnik and currently has more than 250 employees. QUNDIS supplies a comprehensive range of sub-metering and communication devices used to measure, collect and transmit accurate consumption data for heat and water usage at the household
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Bloomin’ Brands sells and refranchises 45 Outback Steakhouses to PE-backed Cerca Trova

Bloomin’ Brands Inc has sold and refranchised 45 Outback Steakhouses in Arizona, Colorado, Nevada and New Mexico to Cerca Trova Restaurant Concepts, which is backed by H.I.G. Capital. In a separate deal, Bloomin’ Brands also sold eight Outback restaurants and one Carrabba’s Italian Grill to Evergreen Restaurant Group LLC. No financial terms were disclosed for either transaction. PRESS RELEASE TAMPA, Fla., April 28, 2017 /PRNewswire/ — Bloomin’ Brands, Inc. (NASDAQ: BLMN) announced the sale and refranchising of 45 Outback Steakhouses in Arizona, Colorado, Nevada and New Mexico to Cerca Trova Restaurant Concepts, Inc. and its affiliates, along with eight Outback restaurants and one Carrabba’s Italian Grill in Montana, South Dakota, Utah and Wyoming to Evergreen Restaurant Group LLC. The transactions closed on April 25 and April 27 respectively. “Both Cerca Trova and Evergreen are excellent operators and have been successful Outback franchisees for more than 20
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PE-backed Lux Global Label buys National Label assets

Lux Global Label Company, a holding company that is backed by Resilience Capital Partners, has acquired certain assets from Lafayette Hill, Pennsylvania-based National Label, a custom label printer. No financial terms were disclosed. In connection with the transaction, Resilience has partnered with LBC Credit Partners and The Kennedy Group. PRESS RELEASE CLEVELAND & LAFAYETTE HILL, Pa.–(BUSINESS WIRE)–Lux Global Label Company, a newly formed holding company backed by private equity firm Resilience Capital Partners (“Resilience”), has purchased certain assets from National Label, the Lafayette Hill, Pennsylvania-headquartered, 103-year-old global leader in the labeling industry. As part of the transaction, Resilience will commit significant financial capital to the new company. Resilience also has assembled a team of industry veterans to strengthen the new company’s operations and industry stature. In connection with the agreement, Resilience has partnered with LBC Credit Partners, a provider of middle-market financing solutions, and The Kennedy
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PE-backed RANDY’s Worldwide acquires ZBAG

RANDY’s Worldwide Automotive, a portfolio company of Linsalata Capital Partners, has acquired Zumbrota Bearing & Gear. No financial terms were disclosed. Based in Zumbrota, Minnesota, ZBAG is a provider of differential, transfer case and manual transmission components and remanufactured units. PRESS RELEASE Cleveland, Ohio (April 27, 2017) – Linsalata Capital Partners (“LinCap”), a leading middle market private equity firm based in Cleveland, Ohio, announced the acquisition of Zumbrota Bearing & Gear (“ZBAG”) by its portfolio company, RANDYS Worldwide Automotive (“RANDYS Worldwide”). The acquisition closed April 13, 2017. Terms of the transaction are not being disclosed. RANDYS Worldwide, headquartered in Everett, Washington, is a leading supplier of highly engineered performance and OE replacement driveline parts for domestic cars, SUVs and light-duty pickup trucks.
ZBAG is located in Zumbrota, Minnesota and is a leading supplier of differential, transfer case and manual transmission components and remanufactured units. “We are pleased to
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Cisco: Credit Suisse Ups to Buy from Sell as It ‘Transforms’

Shares of Cisco Systems (CSCO) are up 34 cents, or 1%, at $33.74, after Credit Suisse’s Kulbinder Garcha today raised his rating on the shares to Outperform from Underperform, and raised his price target to $40 from $27, arguing that tit can make some meaningful acquisitions, possibly Splunk (SPLK), ServiceNow (NOW), and Palo Alto Networks (PANW), and that it’s earnings can grow, despite challenges in its switching equipment business, the largest single chunk of Cisco’s revenue. All in all, he’s come to believe in the “transformation”Cisco has articulated to the Street. "At the heart of our change of view,” writes Garcha, "is that the company is embarking on a successful transformation that diversifies the business away from switching, becoming a more diversified IT player with a higher recurring element of software offerings." Garcha notes Cisco has shifted “away from networking”:

PE-backed GlobeLTR acquires WTH20

GlobeLTR Energy Inc, which is backed by Clearlake Capital Group LP, has acquired West Texas H2O LLC, a provider of fresh and produced water solutions in the Permian Basin. No financial terms were disclosed. PRESS RELEASE Santa Monica, CA and Midland, TX – April 27, 2017 – GlobeLTR Energy Inc. (“GlobeLTR” or the “Company”), a portfolio company of affiliates of Clearlake Capital Group, L.P. (“Clearlake”), today announced it has closed the acquisition of West Texas H2O, LLC (together with its affiliates, “WTH2O”), an established Permian Basin based fresh and produced water solutions provider. Financial terms of the transaction were not disclosed. WTH2O owns or has access to more than 20,000 net acres of freshwater, over 6 million barrels of pit storage capacity for frac water, and more than 125 freshwater wells capable of producing an estimated 450,000 barrels of freshwater per day. WTH2O is
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