Jonathan Marino
Harmony Foods Corp., which does business as Santa Cruz Nutritionals and is a portfolio company of Levine Leichtman Capital Partners IV, completed a $115 million bond offering. It will be used to pay debt and a shareholder dividend. The bond offering comes in the form of five year 10% senior secured notes.
A Twitter post, immediately following the back-to-back SharesPost and SecondMarket West Coast events, served as an echoing reverberation of the growing clout of private stock auctions as an industry. Said JenniferJones, “all of [Fred Wilson’s] (union square ventures) fund profits currently are through secondary sales says Jamie Montgomery.” Wilson, when contacted by peHUB, called the […]
New Horizons Bank was acquired from FDIC receivership last month; strategic acquirer Citizens South Banking Corp. was the buyer. The company assumed approximately $107.6 million in assets and $106.0 million in liabilities, including $101.9 million in current deposits from New Horizons Bank. Lately, private equity investors have increasingly sought to invest in minority stakes of banks being sold out of FDIC receivership. McColl Partners was an advisor on the deal.
Blue Wolf Capital Partners and Atlas Holdings exited Northern Resources Nova Scotia Corp., selling it to a strategic buyer in Paper Excellence Canada Holdings Corp. Specifics on the transaction and bankers were not disclosed.
To the Market we Go! Was Groupon rushing its IPO? Going Public: FriendFinder Networks… and we can pretend it’s the first time you’re hearing about them FaceIn: BranchOut, which looks to tether professional online networks with social networking, raises cash To Market we Go Pt II! Who wants to buy into some sweet, sweet AIG action?
Grammy award winner Pharrell Williams, lead singer of N.E.R.D., will join KarmaLoop TV as a creative director. KarmaLoop, which has one of the most widely-viewed YouTube channels online, is backed in part by VC firm Insight Venture Partners.
Gene Lockhart joins Berenson & Co. as a senior advisor, bringing 30 years of experience to the investment bank. Lockhart will remain a venture partner with Oak Investment Partners and an operating partner with Diamond Castle Holdings. He has held a number of leadership positions, including president and CEO of MasterCard International and president of AT&T’s Consumer Services.
Got our E-mails? Get our e-mails. Now Hiring! JPMorgan hires Drago Rajkovic to work on tech M&A Cheers, Mate! Foster’s vino spinoff spins well Duh, Winning: YouTube monetizes its huge user base, more expected
Tennessee private equity firm River Associates has sold its interest in Coining Holding Company for $148 million to AMETEK Inc. The deal generated a gross IRR of 76% and netted River Associates 6x its initial investment. Mike Brookshire worked on the deal for the private equity firm; River Associates bought the controlling stake in Coining in August 2007 and made growth investments to support its development.
Michael Valentine is coming to New York-based Netsmart Technologies as its chief executive, joining the company from Cerner Corp. James Conway, the prior CEO of Netsmart, is retiring and will continue to play a role in the leadership transition. Prior to joining Netsmart, Valentine served as EVP and COO with Cerner.