Iris Dorbian
Scargo Hill Capital, a new asset management platform, has launched. Based in Boston, Los Angeles and New York, the firm is focused on providing direct lending to lower middle-market companies in the retail and consumer product sectors. Andrew H. Moser is serving as managing partner and CEO while Thomas J. Lynch is managing partner and chief risk officer. Scargo Hill's backers include Schottenstein affiliate SB Capital Group and Stephen G. Miller, CEO of 360 Merchant Solutions.
Frank H. McCourt, Jr, chairman and CEO of McCourt LP, and Mark Walter, a founder and CEO of Guggenheim Partners, have launched McCourt Partners, a new private investment platform. Though initially focused on real estate development, the joint venture will also concentrate on other sectors that include finance.
Onex Corp has promoted Amir Motamedi to managing director. Motamedi joined the firm in 2006. Prior to joining Onex, Motamedi worked at Goldman Sachs' investment banking unit.
Generation Growth Capital has sold Midway Industrial Supply Inc to Ohio Transmission Corporation. No financial terms were disclosed. Madeira Partners provided financial advice to MIS on the transaction. Based in Mounds View, Minnesota, MIS is a provider of fluid handling and spray finishing equipment, accessories and consumables.
Financial-Information-Technologies LLC, a provider of data, payment and software solutions for the beverage alcohol industry, has secured an undisclosed amount of funding. The investor was Luminate Capital Partners. In conjunction with the funding, Luminate's Hollie Haynes and Scott Kingsfield have been added to Fintech's board of directors.
Clinical Supplies Management, a portfolio company of Great Point Partners, has acquired Brussels, Belgium-based B&C Group, a provider of clinical trial supplies and biomedical sample services. No financial terms were disclosed.
Blue Sage Capital has acquired Albuquerque, New Mexico-based Broken Arrow Communications Inc, a provider of services for the installation, modification, construction and maintenance of wireless communication facilities and related infrastructure. No financial terms were disclosed.
First Read starts the day with news that Next Level Apparel is challenging Gildan by bidding for American Apparel, Uber extends an olive branch to local governments, and Yahoo CEO Marissa Mayer is resigning from the company's board after its sale to Verizon is complete.
Morgan Stanley Capital Partners has closed its latest mid-market fund North Haven Capital Partners VI at over $1.5 billion.
In Second Opinion, Mars will be acquiring VCA for $7.7 billion, Salesforce’s Marc Benioff joins backs Gaza’s first ever coding academy and Trump names his son-in-law as senior White House adviser.