The Clorox Company
has agreed to acquire Sunrise, Florida-based Nutranext,
a maker of dietary and nutritional supplements, from Nutranext Holdings LLC
. The price of the acquisition is $700 million. Nutranext Holdings is a portfolio company of WM Partners.
FORT LAUDERDALE, Fla., March 12, 2018 /PRNewswire/ — WM Partners, LP (“WM Partners”) a Ft. Lauderdale-based private equity firm focused on investing in lower-middle market companies in the health and wellness sector, today announced that Nutranext Holdings, LLC, a portfolio company owned by an affiliate of WM Partners, has entered into an agreement to sell Nutranext, LLC and its subsidiaries (collectively, “Nutranext”), a vertically-integrated developer, manufacturer, and marketer of leading dietary and nutritional supplements in the retail, e-commerce and direct-to-consumer (“DTC”) channels, to The Clorox Company (“Clorox”). In calendar year 2017, Nutranext generated sales of about $200 million. Clorox will pay $700 million to acquire Nutranext, with the purchase
Continue reading "Clorox to acquire dietary and nutritional supplements maker Nutranext for $700 mln"
(Reuters) – General Electric Co
(GE.N) is exploring a sale of the electrical engineering business which it acquired for $3.2 billion in 2011, as the U.S. industrial conglomerate continues to shed unwanted assets, according to four people familiar with the matter.
, who took over as GE’s chief executive last summer, indicated to analysts and investors for the first time earlier this year that he was open to breaking up the company, and said that a spinoff of any of its units, which include power, healthcare and aviation, was possible.
GE acquired Converteam
, an electrical engineering company, in 2011 to boost its presence in that sector. At the time, energy was GE’s most profitable business, accounting for a quarter of the company’s revenue. Since then demand for its products have fallen sharply, and profit at the division plunged 45 percent last year.
Continue reading "GE explores divesting electrical engineering business: Reuters"
, a portfolio company of Gryphon Investors
, and its affiliate Johnson Family Dental
, have acquired California-based Newbury Park Dental Studio.
No financial terms were disclosed.
IRVINE, CALIF. (PRWEB) MARCH 09, 2018
Smile Brands Inc. together with its affiliate Johnson Family Dental announced today the acquisition of Newbury Park Dental Studio at 1620 Newbury Road, in Newbury Park, CA.
Johnson Family Dental provides comprehensive general and specialty dental care plus orthodontics at locations throughout Central California. The rapidly growing group has six convenient locations serving residents of Santa Barbara, Solvang, Ventura, Camarillo, Port Hueneme and now Newbury Park. Founded in 1963, Dr. Steven Johnson purchased the practice in 2001 and has expanded locations and services to meet the needs of the communities they serve.
“The population of Newbury Park has grown by nearly 25% over the past 15 years and access to convenient, high quality
Continue reading "PE-backed Smile Brands and Johnson Family Dental buy Newbury Park Dental Studio"
a portfolio company of Warburg Pincus
, has acquired Cincinnati-based QC Industries
, a conveyor systems manufacturer. No financial terms were disclosed.
Downers Grove, IL – March 8, 2018 – Duravant, a global engineered equipment manufacturer serving the food processing, packaging and material handling sectors, announced today it has acquired QC Industries, a conveyor systems manufacturer headquartered in Cincinnati, OH. The investment extends Duravant’s material handling product portfolio with in-process conveying solutions and strengthens the company’s integration and automation capabilities.
Supported by best-in-class engineering, QC Industries has also simplified the configuring and quoting process by offering an online configuration system that utilizes an intelligent virtual assistant to conveniently guide customers through selecting and designing a conveyor solution.
“We are pleased to welcome the entire QC Industries team to the Duravant family,” said Mike Kachmer, CEO of Duravant. “QC Industries has done an incredible job of
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, a portfolio company of Riverside Partners,
has acquired UK-based Gap Systems
, a provider of SaaS-based artwork management solutions. No financial terms were disclosed.
PORTSMOUTH, N.H. and BOSTON, March 8, 2018 /PRNewswire/ — Riverside Partners, a Boston based private equity firm, announced today that its portfolio company, Loftware, Inc., the global leader in Enterprise Labeling Solutions, with over 5,000 customers in 100 countries, has acquired Gap Systems, a leading provider of SaaS based artwork management solutions headquartered in the United Kingdom. With this announcement, Loftware extends its global presence and offers a new cloud-based digital platform with solutions that redefine how enterprises create, manage and print complex labeling and packaging artwork, and scale across their operations.
With this acquisition, Loftware unites complementary companies, teams and solutions. Loftware dynamically addresses a complete range of customer and regulatory mandates by producing mission-critical barcode labels and
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Miller Environmental Services,
which is backed by Trinity Hunt Partners
, has acquired Belco Industrial Services
, a provider of specialty industrial services in Texas and Louisiana.
Miller Environmental Services (Miller), a leading provider of industrial cleaning and environmental services and portfolio company of Trinity Hunt Partners, today announced the acquisition of Belco Industrial Services (Belco), a major supplier of specialty industrial services in Texas and Louisiana.
The acquisition will enable Miller to provide turn-key solutions for its customers through expanded service lines now available via Belco’s mechanical and linings & coatings divisions. The transaction will also allow Miller to expand its services into the chemicals market, an area in which Belco has deep customer relationships and expertise.
Following the acquisition and as a part of Miller’s long-term succession plan, Miller is announcing three management team additions and promotions. Charles Miller, who founded Miller in 1985, will remain
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has acquired Kennebunk, Maine-based Plixer
, a provider of network traffic analytics. No financial terms were disclosed. In addition to the funding, Battery Ventures’ Russell Fleischer, Jordan Welu
and Sabrina Chiasson
are joining Plixer’s board. And, Plixer has appointed Jeff Lindholm
BOSTON, March 08, 2018 (GLOBE NEWSWIRE) — Battery Ventures, a global technology investment firm, announced it has acquired Plixer, a 19-year old company based in Kennebunk, ME that makes mission-critical technology to help companies better analyze their computer network traffic in today’s cloud and hybrid-cloud environments, including information flows related to security breaches. As part of the transaction, Battery General Partner Russell Fleischer; Battery Principal Jordan Welu; and Battery Vice President Sabrina Chiasson are joining Plixer’s board. Specific terms of the deal were not disclosed.
Battery also announced that longtime networking-industry executive Jeff Lindholm will join Plixer as CEO. Lindholm was most recently
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Southeast Asia’s biggest ride-hailing firm, Grab,
is in advanced negotiations to buy parts of Uber Technologies Inc’
s business in the region, said a source with knowledge of the talks, in what would be Uber’s second retreat from an Asian market.
Ride-hailing firms have raised billions of dollars to help compete in Southeast Asia where they have been forced into losses partly due to hefty incentives to drivers and discounts to riders.
Grab has a dominant position in several markets in the region of about 640 million people, while Uber has also been expanding. The U.S. ride hailing firm announced a partnership with Singapore’s top taxi operator ComfortDelgro in December.
“Grab is much bigger in Southeast Asia and they understand the local market much better,” said Xiaofeng Wang, analyst at consultancy Forrester.
A multi-billion dollar funding of Uber in January by SoftBank Group, already one of Grab’s main investors,
Continue reading "Southeast Asia’s Grab in talks to buy into Uber’s regional business, says source: Reuters"
Maxcess International Inc
, a portfolio company of Bertram Capital,
has acquired Edgerton, Wisconsin-based Componex Corp,
a provider of aluminum dead shaft idler rolls. No financial terms were disclosed.
SAN MATEO, Calif., March 8, 2018 /PRNewswire/ — Maxcess International, Inc. (“Maxcess”), a global leader in products and services for the web handling industry and portfolio company of Bertram Capital (“Bertram”), has acquired Componex Corporation (“Componex” or the “Company”). Headquartered in Edgerton, Wisconsin, Componex is a leading-edge provider of aluminum dead shaft idler rolls and will join Menges Roller, Valley Roller, Webex, Fife, Tidland and MAGPOWR under the Maxcess International umbrella of companies.
“The acquisition of an innovative brand like Componex adds tremendous value to our family of web handling companies, specifically our Precision Rolls Group,” said Greg Jehlik, CEO of Maxcess. “Being deeply focused on expansion through organic growth, product development and acquisitions, Componex is a perfect
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Belt Power LLC
, a Shorehill Capital LLC
portfolio company, has completed its acquisition of Regional Supply LLC
. Financial terms weren’t announced. Regional Supply, of Marietta, Georgia, is a distributor and fabricator of lightweight conveyor system components, including conveyor belts, equipment and accessories and rubber, hose and gasket products. NXT Capital
provided debt capital. Fredrikson & Byron PA
and Kirkland & Ellis
served as its legal advisers.
Belt Power LLC Acquires Regional Supply, LLC
Shorehill Capital LLC (“Shorehill”) announced today that its portfolio company Belt Power LLC (“Belt Power” or the “Company”) completed the acquisition of Regional Supply, LLC (“Regional Supply”) on March 1, 2018. Belt Power is a leading full-service distributor and fabricator of lightweight conveyor system components, including conveyor belts, equipment and accessories and rubber, hose and gasket products. Regional Supply is a Marietta, Georgia-based lightweight conveyor belt distributor offering innovative solutions for customers in the
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(Reuters) – Rent-A-Center Inc
is in active talks with multiple parties for a possible buyout, the rent-to-own furniture retailer said on Wednesday, while also announcing 250 layoffs at its Plano, Texas headquarters.
Rent-A-Center, which has been under pressure from its largest shareholder Engaged Capital
to sell itself, has previously rejected buyout offers. Another activist investor, Marcato Capital
, has also pushed the company to sell itself.
Last month, Rent-A-Center said it would nominate an independent director to its board recommended by Engaged.
Rent-A-Center has been exploring strategic options since October last year. Its top management, including its chief executive, chairman and chief operating officer have all stepped down since then.
The company’s shares rose 8.5 percent to $8.30 in after-hours trading. Rent-A-Center was valued at about $409 million as of Wednesday.
The job cuts, along with other cost-cutting measures, are expected to save the company $28 million annually.
Continue reading "Rent-A-Center in talks with possible buyers, cuts 250 jobs: Reuters"
(Reuters) – J.M. Smucker Co
) is considering a sale of its baking brands, including Pillsbury
reported on Thursday, citing people familiar with the matter.
The unit, which also includes the Robin Hood
flour and cereal brand and Martha Whit
e baking mixes, could fetch as much as $700 million, Bloomberg reported, citing one of the sources.
A final decision to pursue a sale has not been made and Smucker may keep the unit, sources told Bloomberg.
Smucker acquired Pillsbury as part of its deal to buy International Multifoods Corp
in 2004. The segment contributed to a decline in net sales in its U.S. retail consumer foods business in the third quarter, the company said in February.
The company said on Tuesday it would abandon its plan to acquire Conagra Brand Inc’s Wesson Oil
brand after the U.S. Federal Trade Commission
Continue reading "Smucker’s baking brands business may soon be up for sale: Bloomberg"
CORA Health Services
, an operator of outpatient physical therapy services, has made several acquisitions, among them, the Tennessee and Kentucky-based Champion Physical Therapy
; and Virginia-based Professional Therapies of Roanoke
. No financial terms were disclosed. CORA is a portfolio company of Gryphon Investors
San Francisco – March 7, 2018 – CORA Health Services, Inc. (“CORA”), a top 10 national operator of outpatient physical therapy services, announced today that it has expanded into three new states: Tennessee, Kentucky and Virginia. CORA is a portfolio company of Gryphon Investors (“Gryphon”), a leading middle-market private equity firm based in San Francisco.
CORA entered Tennessee and Kentucky through its acquisition of Champion Physical Therapy from owners John Staley, Robb Seahorn, Tim Butcher & Brett Kolnick. Champion, founded in 2008, has 15 locations, including Knoxville, TN; the TriCities market encompassing Kingsport, Johnson City and Bristol, TN; and several locations in southeastern Kentucky.
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has sold four convenience stores and one truck stop location to GPM Southeast LLC
and GPM Petroleum,
both of which are affiliated with GPM Investments
. No financial terms were disclosed. Matrix Capital Markets Group Inc
advised Crenco on the sale. Joshua Vann
of Morton & Gettys LLC
served as legal counsel for Crenco.
RICHMOND, VA – March 7, 2018 – Matrix Capital Markets Group, Inc. (“Matrix”) announces that it has advised Crenco Food Stores, Inc. and Crenshaw Oil Company, Inc. (hereinafter referred together as “Crenco” or “Company”) on the sale of their four convenience stores and one truck stop location to GPM Southeast, LLC and GPM Petroleum, LLC, two entities affiliated with GPM Investments, LLC, headquartered in Richmond, VA.
The convenience stores and truck stop are all high volume and highly profitable stores and are located in northern South Carolina, with three stores in Lancaster, one store
Continue reading "Crenco sells five North Carolina stores"
Alliance Physical Therapy Management LLC
, an affiliate of GPB Capital
and Alliance Physical Therapy Partners
, has completed its acquisition of the U.S. operations of Agility Health Inc
, a healthcare operator. The price of the deal was about $45 million.
NEW YORK, March 7, 2018 /PRNewswire/ — Alliance Physical Therapy Management, LLC (“Alliance PT”), an affiliate of GPB Capital and Alliance Physical Therapy Partners, has completed its acquisition of the U.S. operations of Agility Health, Inc. (TSVX: AHI) (“Agility Health”) as of February 28, 2018. Under the terms of a definitive purchase agreement with Agility Health, Alliance PT purchased 100% of Agility Health’s U.S. operations for approximately $45 million.
“The high quality of the physical therapy and rehabilitation clinics, and the experienced practitioners providing patient care, are the cornerstones of Agility Health’s U.S. assets,” said Dotty Bollinger, Managing Partner of GPB Capital
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has agreed to acquire Indianapolis-based Octiv
, a provider of web-based document solutions. No financial terms were disclosed. Conga’s backers included Salesforce Ventures
while Octiv was backed by Greycroft Partners, Allos Ventures, High Alpha Capital
and GE Ventures.
BROOMFIELD, CO – March 7, 2018 – Conga, the global leader in Intelligent Document Automation, today announced that it has entered into an agreement to acquire Octiv, an industry-leading provider of web-based document solutions.
The acquisition of Octiv will enhance the breadth and depth of the Conga Suite, widely considered the industry’s most comprehensive Intelligent Document Automation Suite. Octiv will extend the Conga Suite by providing the ability to create, collaborate and manage web-based documents while measuring engagement throughout the lifecycle of a document. This enhanced offering will drive even greater results and value to Conga customers globally.
“We are thrilled to welcome Octiv’s employees and customers into the
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has acquired New York and Scottsdale, Arizona-based SheKnows Media
, a women’s lifestyle digital media company. No financial terms were disclosed. Houlihan Lokey
was a sell-side adviser to SheKnows. SheKnows was a portfolio company of Great Hill Partners.
NEW YORK, March 6, 2018 /PRNewswire/ — PMC, owner of 20 media brands that include Rolling Stone, Variety, WWD, Deadline, and Robb Report, today announced the acquisition of SheKnows Media, a leading women’s lifestyle digital media company with 79 million unique visitors per month (comScore, Jan 2018) and whose owned and operated brands include SheKnows.com, BlogHer, StyleCaster and HelloFlo.
“We are thrilled to join PMC to accomplish our goal of building out the SheKnows brands and further engaging our more than 300 million social followers,” said SheKnows Media CEO Philippe Guelton. “We view PMC as the best home for our brands and our audiences for decades to come.
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, which is backed by Ardian
, has acquired Chinese Jiayou Chemical
, a phosphonate business, from Ecolab Inc
. No financial terms were disclosed.
Genoa – 7 March 2017 – Italmatch Chemicals, a global specialty chemical group leader in the production and marketing of performance additives for water & process treatment, oil & gas, industrial lubricants and plastics, acquired Chinese Jiayou Chemical, active in the phosphonate business, from Ecolab Inc., the global leader in water, hygiene and energy technologies and services.
More in detail, the deal includes: the acquisition of the entire business and assets relating to phosphonate production and sales carried out by Jiayou Chemical Co. (formerly part of Jianghai), located in the Changzhou area (China).
This transaction allows Italmatch Chemicals to strengthen its presence in the Asia Pacific Region with a new plant specialized in production of phosphonates. The new site complements the
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Healthcare data analytics company Inovalon Holdings Inc
(INOV.O) said on Wednesday it will acquire Ability Network
, a provider of information technology, in a deal valued at $1.2 billion.
Inovalon will get access to the 44,000 healthcare facilities in which Ability’s software platform provides management and other administrative services.
The transaction is comprised of $1.1 billion cash and $100 million in restricted Inovalon stock. The company, which expects to close the deal next month, is also using funds from a term loan.
Inovalon uses predictive algorithms to find health conditions by analyzing data stored in its registry.
Morgan Stanley Senior Funding Inc will provide the financing commitment for the acquisition and will lead the financing, the company said.
Health & Safety Institute,
a portfolio company of the Riverside Company
, has acquired Pasco, Washington-based Vivid Learning Systems
, a provider of online safety training. No financial terms were disclosed.
EUGENE, ORE. (PRWEB) MARCH 07, 2018
Health & Safety Institute (HSI), the leader in Environmental Health and Safety (EHS) software, training and compliance services, today announced it has acquired Vivid Learning Systems, one of the nation’s fastest-growing providers of online safety training.
The combination brings the market strength of HSI’s Summit Training Source and CLMI brands together with the diverse training options of Vivid Learning Systems, creating an unmatched provider of online workplace safety training topics covering areas such as Hazard Communications, OSHA 10- and 30-hour, Mine Safety, Construction Safety, Electrical Worker and Department of Transportation courses.
“At its core, this acquisition is about unlocking exciting new value for existing customers of both organizations, and growing the
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