chris@arsenalvp.com
2U Inc has agreed to acquire Boca Raton, Florida and New York City-based Trilogy Education, a workforce accelerator that prepares adult learners for careers in the digital economy, for $750 million. Citigroup Global Markets Inc. provided financial advice to 2U on the transaction while Morgan Stanley advised Trilogy Education. Trilogy's backers included Highland Capital Partners, Macquarie Capital, Exceed Capital, Rethink Impact, City Light Capital and Triumph Capital LLC.
Ardian has provided a debt facility to back HgCapital's investment in UK-based A-Plan, a personal lines insurance broker. No financial terms were disclosed.
First Read kicks off the day with news that Andreessen Horowitz has hired its 15th general partner, Office Depot and Alibaba are teaming up to tap small and medium businesses, and Coinbase is giving the former Hacking Team employees the boot.
In Second Opinion, Purdue Pharma files for possible bankruptcy, Google found it paid men less than women for the same job and "Beverly Hills 90210" star Luke Perry dies at 52.
Platinum Equity has agreed to acquire Cincinnati-based Multi-Color Corporation, a provider of global label solutions, for $50 per share or $2.5 billion. Upon the closing of the deal, Multi-Color will not trade on the public market. Goldman Sachs is serving as financial adviser to Multi-Color on the transaction with Sidley Austin LLP and Keating Muething & Klekamp PLL providing legal counsel. And, Latham & Watkins LLP is serving as legal counsel to Platinum Equity LLC.
Investment fund Tages is in exclusive talks to buy the Italian solar power plants put on sale by clean energy investor Glennmont Partners, two sources said on Monday.
3i has added six hires to its private equity team. Joining the firm are Simon Andersen, who will drive digital strategies in 3i's portfolio companies in Europe and U.S. as well as evaluate new investments; Zack Shaftal as a senior associate; and Jake Behrman, Inka Berglar, Jacques-Henry Grislain and Flore Van Schaik as associates.
Graycliff Partners has sold Impakt Holdings LLC to Celestica for about $329 million. Based in California and South Korea, Impakt provides design, engineering and agile manufacturing solutions for the display, solar and other capital equipment industries.
AXA Investment Managers will acquire a U.S. debt investment team and a $9.4 billion portfolio of U.S. commercial mortgage loans from Quadrant Real Estate Advisors, AXA said on Wednesday.
Montreal-based Pivotal Payments, a payment processing company, has rebranded as Nuvei. According to the company, the name change "reinforces the company’s dedication to its partners, creating the first-ever community of payment experts." Pivotal Payments is backed by Novacap and Caisse de dépôt et placement du Québec.