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Warren V. "Pete" Musser, the legendary tech investor and founder of Safeguard Scientifics, passed away of cardiac arrest on Nov. 25. He was 92. Musser was a billionaire on paper at the peak of the dot.com bubble and then nearly lost that fortune when the bubble burst, according to press reports.
PromptCare Companies, which is backed by the Halifax Group, said Nov. 26 that it acquired Hollywood Medical Supply. Robert Lichtenstein, Hollywood’s owner and CEO, is the seller. Financial terms weren’t announced. Hollywood provides respiratory therapy services and related medical supplies for medically fragile children in Florida.
Silver Lake said Nov. 25 has agreed to buy First Advantage. Financial terms weren't announced. Symphony Technology Group is the seller. First Advantage, of Atlanta, provides background check and drug screening solutions.
Carlyle Group and T&D Holdings have agreed to buy 76.6 percent of Fortitude Group Holdings from American International Group Inc for about $1.8 billion. Once the deal closes, Carlyle’s stake in Fortitude will be 71.5 percent, while T&D will have 25 percent and AIG will have 3.5 percent. Fortitude Re provides retroactive reinsurance and legacy run-off management solutions for long-dated, complex risks to the global insurance industry.
TA Associates has completed its investment in Gong cha Group. Financial terms weren’t announced. Gong cha Group provides tea, products and services.
Paya, the company formerly known as Sage Payment Solutions, is shaping up as a big win for GTCR.
Blackstone Growth eyes $3 bln to $4 bln for debut fund; Accuity Delivery Systems is up for sale; Kelleher exits BB&T
Pestell Nutrition, a portfolio company of Wind Point Partners, said Nov. 25 that it acquired Premier Ag Resources. Financial terms weren’t announced. Premier Ag, of London, Ontario, distributes specialty pet food ingredients and feed additives across Canada and the U.S.
Scribd said Nov. 25 that it raised $58 million in funding led by Spectrum Equity. Scribd is an unlimited reading subscription service that provides access to books, audiobooks, news and magazine articles, documents and more.
Charles Schwab Corp said Nov. 25 that it agreed to buy TD Ameritrade in an all-stock transaction valued at approximately $26 billion. With the sale, TD Ameritrade’s board said it has suspended its CEO search, naming Stephen Boyle, TD Ameritrade EVP and CFO, as the company’s interim president and CEO.