Iris Dorbian
The Jordan Company LP has agreed to acquire Vectra Co's Borchers business. No financial terms were disclosed. Moelis & Company served as lead financial adviser to Vectra with Credit Suisse Securities (USA) LLC also providing advice. Borchers provides custom solutions relating to additives for colorants and coatings.
Financial services company ORIX Corp has acquired a controlling stake in Brazil-based RB Capital, a capital markets and asset management platform. No financial terms were disclosed.
Benford Capital Partners LLC has acquired Boulder, Colorado-based Droplet Measurement Technologies, a maker of scientific cloud and aerosol particle measurement instruments. No financial terms were disclosed.
First Read kicks off the day with news that GE is selling its $3 billion industrial solution business, Yahoo says over one billion user accounts were hacked in September 2013, and LEGO prices will go up by an average of 5 percent in Britain next year because of Brexit.
Cortec Group has recapitalized Denver-based ICON Eyecare, which operates 11 ophthalmology clinics and five ambulatory surgery centers focused on treating ophthalmic conditions. No financial terms were disclosed for the transaction that was made to back ICON Eyecare's merger with Kleiman Evangelista Eye Center.
Warburg Pincus has closed its inaugural China fund at $2 billion. Warburg Pincus China will invest alongside Warburg Pincus' seventh flagship fund, which closed at $13.4 billion in late 2015. The fund's limited partners include public and private pension funds, sovereign wealth funds, insurance companies, endowments, foundations and high-net-worth individuals. Warburg Pincus China will focus on growth investing in a number of sectors such as consumer, healthcare, real estate and financial services and technology.
Next-generation media company STX Entertainment has hired Patricia Röckenwagner as chief communications officer. Her appointment becomes effective January 17, 2017. Previously, she worked at Advance Vixeid Partners. STX’s backers include TPG Growth, Hony Capital and DNS Capital.
Bain Capital Private Equity has agreed to acquire Red Bank, New Jersey-based Innocor Inc, a maker of advanced foam products. The seller is Sun Capital Partners. No financial terms were disclosed.
In Second Opinion, the Federal Reserve hikes up interest rates, Trump reassures tech leaders in a high-profile summit and Bernie Madoff victims will be ushering in the new year with $342 million in payouts.
Lake Pacific has sold its stake in Montreal-based Max Holdings, a maker of branded frozen chicken products. The buyer was not specified. No financial terms were disclosed.