Iris Dorbian
Lariat Partners has promoted Jason Urband to principal and Josh Sartisky to senior associate. Urband has 12 years of M&A advisory and private equity investing experience while Sartisky had six years of the same.
First Read begins the day with news that Hewlett Packard Enterprise will buy SimpliVity for $650 million, Obama commutes most of Chelsea Manning's 35-year-sentence, and Chuck E. Cheese goes up for sale.
Militello Capital has sold two multifamily properties that it acquired through a joint venture with QR Capital for $36 million. The properties were Nashville-based Hillwood Point Apartments, which was sold for $23.4 million and North Charleston, South Carolina-based Hampton Oaks Apartments, which was sold for $12.7 million.
Bain Capital Private Equity has agreed to acquire PSA Healthcare, which is owned by J.H. Whitney Capital Partners. No financial terms were disclosed. PSA Healthcare will merge with Epic Health Services, which Bain Capital agreed to acquire in December. Edge Healthcare Partners was financial adviser to PSA on the transaction. Based in Atlanta, PSA Healthcare, provides home nursing services to medically fragile children.
Belgium-based NHV Group, an helicopter transport services company, has named Dominique Lafont as executive chairman. Lafont is a senior adviser at KKR and BCG. NHV Group is backed by Ardian.
Second Opinion closes out the day with BAT agreeing to acquire American rival tobacco company Reynolds for $49.4 billion, Facebook CEO Zuckerberg testifies in $2 billion lawsuit that Oculus did not steal VR technology and a new study says that the Obamacare repeal may result in 18 million losing their health care.
Swander Pace Capital has appoints Robert Vassel as a principal. Previously, he worked at The Clorox Company where he most recently served as vice president of corporate development focused on mergers and acquisitions. Also, the firm, which has offices in Toronto, San Francisco and New Jersey has promoted Tyler Matlock to senior vice president and Tara Hyland to senior associate. Matlock joined Swander Pace in 2008 while Hyland came on board in 2015.
Bain Capital Private Equity has acquired a majority stake in Daymon Worldwide, a provider of retail services. No financial terms were disclosed. BofA Merrill Lynch served as financial adviser to Bain Capital Private Equity on the transaction.
MedMen, a legal cannabis-focused management company, has raised almost $30 million for its inaugural private equity fund, according to an SEC filing. The target is $100 million. As previously reported, MedMen has partnered with Wicklow Capital on MedMen Opportunity Fund LP.
Indulge Desserts Holdings LLC, which is backed by AUA Private Equity Partners LLC, has acquired Love & Quiches, a maker of gourmet desserts and quiches for national restaurant chains, food service distributors, groceries and stores. No financial terms were disclosed.