Iris Dorbian
Global investment firm Deutsche Asset & Wealth Management has added three new staffers to its team. Juan Landazabal has been named global head of fixed income trading while Matt Montana is now head of equity trading Americas. Also, Vincenzo Vedda has been tapped as deputy global head of equity trading.
OLO said Tuesday that it has expanded its executive leadership team with new hires. Matt Tucker has been named chief operating officer while Marty Hahnfeld is now vice president of sales. Also, Scott Lamb is on board as vice president of account management. Based in New York, OLO, which is backed by PayPal, Founder Collective, RRE Ventures and Core Capital Partners, is an m-commerce and e-commerce platform for restaurant brands.
Kugman Partners has named Alvin Carter Jr. as executive director. In his new position, Carter will focus on debt financing, capital investments and profit improvement strategies. Based in Lake Forest, Illinois, Kugman Partners is a financial advisory firm specializing in middle-market companies.
LA-based private equity firm Vance Street Capital said Monday that it has purchased Lark Engineering. No financial terms were disclosed for the transaction, which closed on September 11, 2013. As a result of the acquisition, Lark Engineering will become a part of Vance Street Capital's Secure Communication Systems. Fred and Nancy Baier, the founders of Lark Engineering, will retire from the company at the end of the year. Fifth Third Bank provided debt financing for the transaction while Peter G. Sutherland & Associates acted as financial advisor to Lark Engineering. Based in San Juan Capistrano, Calif., Lark Engineering is a a maker of RF Filters serving the commercial, industrial and military sectors.
First Reserve has inked an agreement to sell Brand Energy & Infrastructure Services to Clayton, Dubilier & Rice. No financial terms were disclosed. The transaction is expected to close before the end of the year. Brand will be merged with Harsco Infrastructure and named Brand Energy & Infrastructure Services. Paul Wood, chairman and CEO of Brand, will remain in his roles. Morgan Stanley served as financial advisor to Brand and First Reserve in the transaction. Based in Kennesaw, Georgia, Brand Energy and Infrastructure Services is a provider of specialty services to North America's energy markets.
K-V Pharmaceutical Company said Monday that it has completed a $375 million recapitalization. Capital Ventures International, Greywolf Capital, Kingdon Capital, Silver Point Finance and Deutsche Bank with provided most of the funding. As a result of the transaction, KV has emerged from chapter 11. Jefferies LLC served as financial advisor. Headquartered in St. Louis, Missouri, KV is a pharmaceutical company that focuses on women's healthcare.
Lighting Science Group Corp. said Monday that it has raised $20 million in preferred stock financing. Pegasus Capital Advisors was the lead investor, with participation from Riverwood Capital Partners. According to the company, the capital will be used for growth and product development. Lighting Science Group Corp. is a maker of LED lighting solutions.
Harsco said Monday that it has agreed to sell its infrastructure division to Clayton, Dubilier & Rice for approximately $300 million. CD&R will merge the division with Brand Energy & Infrastructure Services, which it is acquiring from First Reserve. Harsco will receive a 29 percent equity stake in the combined company. The transaction is expected to close before the end of the year. Morgan Stanley, Citigroup Global Markets, Goldman Sachs Bank USA and UBS Investment Bank provided the financing to CD&R while Robert W. Baird & Co. and Credit Suisse served as financial advisors to Harsco. Based in Camp Hill, Penn., Harsco is an industrial services company.
Scivantage, a New Jersey-based financial technology provider that is backed by Brown Brothers Harriman Capital Partners, said Monday that it has acquired Portfolio Director from Scottrade Financial Services. No financial terms were disclosed. Portfolio Director is a provider of investment management technology products.
Sun Capital Partners said Monday that it has bought Gem Shopping Network. No financial terms were disclosed. Based in Duluth, Georgia, Gem Shopping is a retailer that sells jewelry and gemstones mostly on its TV network.