Eamon Murphy
Finance consulting firm Accordion Partners launched their Financial Accounting & Advisory Services (FAAS) practice, to provide operational accounting, performance improvement and technical accounting support. Rich Medor, formerly an operational executive at Viacom, will lead the new practice group as managing director.
1366 Technologies, a manufacturer of silicon wafers for solar technology, received a $10 million investment from Korean PE/VC firm Hanhwa Investment Corporation. The funds will be used to build 1366's first large-scale commercial factory.
Gridiron Capital, LLC announced the promotions of two new vice presidents, Christopher M. King and Douglas J. Rosenstein. Since joining Gridiron, King and Rosenstein have been responsible for sourcing and evaluating potential investments and participating in deals for new portfolio companies.
NXT Capital financed Graham Partners' investment in BrightPet Nutrition Group, LLC, a platform that focuses on premium and super-premium brands. Graham Partners created BrightPet by acquiring several pet food manufacturers and brands. Terms of the transaction were not disclosed.
Waud Capital Partners joined executives at Ivy Rehab Network Inc. to effectuate a management buyout of the company. Michael Neuscheler, CEO and founder of Ivy, and Dave Franklin, president of Ivy Midwest, partnered with Waud, which was seeking an entrance to the outpatient rehab therapy market. Industry executive Jeremy VanDevender will join the senior leadership team as president and chief revenue officer of Ivy Northeast.
Cloud ERP software provider Intaact secured an additional $40 million of financing from Silicon Valley Bank. The new funding adds to previous investments by Battery Ventures, Bessemer Venture Partners, Costanoa Venture Capital and others.
Petsky Prunier advised BioPharm Communications on its pending sale to Omnicom Heath Group, part of Omnicom Group Inc. BioPharm, which provides marketing programs to doctors for pharmaceutical clients, was a portfolio company of Southfield Capital.
Sequoia led a $25 million Series C funding in Drawbridge, a technology company that provides cross-device identity data. Existing investors Kleiner Perkins Caufield Byers and Northgate Capital also participated.
Merck & Co's venture investment arm, Merck Global Health Innovation Fund, appointed Francesca Domenech Wuttke as a managing director. Wuttke, who previously led Almiral, S.A.'s medical M&A team, will oversee venture capital investments, with a focus on digital healthcare innovation.
To wrap up your Wednesday, the owner of the NYSE won't bid for its London rival, and Gannett won't acquire Tribune Publishing. Adidas might sell its golf unit, and Uber's got a new global advisory board.