PEI Staff
Formation Capital and Dubai-based investment firm Safanad acquired nine assisted living facilities in South Carolina from Agape Senior for $128.6 million.
To close out your week, Second Opinion has news: AlpInvest-led group seals $1.2 bln secondary deal with Thomas Lee firm, Dropbox is set to sell shares in the secondary market at a 34 pct discount, and Aubrey McClendon left his biggest backer with billions to lose.
Knoxville, Tennessee-based Ministry Brands, a Christian software company backed by Genstar Capital and Providence Equity Partners, acquired ACTIVE Network's faith division, which offers a software product that helps churches integrate administrative functions. Based in Dallas, Texas, ACTIVE provides management solutions for event and activity organizers and is owned by Vista Equity Partners.
Silver Oak Services Partners, a lower middle market private equity firm based in Evanston, Illinois, closed its third fund at its $335 million hard cap. Like its predecessors, Silver Oak Services Partners Fund III LP will seek control-oriented investments in the business services, healthcare services and consumer services sectors. Silver Oak typically invests between $10 million to $30 million in companies with EBITDA between $3 million to $20 million. Forum Capital Partners served as placement agent for Silver Oak.
Arsenal Capital Partners made a majority investment in Pacific Urethanes LLC, a producer of specialty polyurethane foam materials based in Ontario, California. Financial terms of the transaction were not disclosed. Pacific Urethanes is the first investment in Arsenal's strategy to build a specialty foam solutions and technologies platform.
Just when it was getting warm, snow is in the forecast. Everything is terrible: TransCanada to buy Columbia Pipeline Group for $10.2 bln, just over half of U.S. billion-dollar startups are formed by immigrants and February was the hottest month in 137 years.
London-based Bowmark Capital, a mid-market private equity firm, merged two of its portfolio companies, Leaders and Romans, to form a property services group. The two brands will continue to operate autonomously. Bowmark backed the respective management buy-outs of Leaders in March 2010 and Romans in September 2013.
Riverside Partners LLC made a majority equity investment in Kentucky-based Bottom Line Systems, a provider of revenue cycle management technology to healthcare providers. Financial terms of the deal were not disclosed.
Riverside Partners portfolio company BioAgilytix, a provider of contract bioanalytical testing services, acquired IPM Biotech, a German bioanalytical contract research laboratory. Financial terms of the deal were not disclosed.
Colorado-based Gary Petroleum Partners LP partnered with Old Ironsides Energy LLC, an oil and gas investment manager, to pursue the acquisition and development of upstream energy assets in the Permian Basin under the name Gary Permian LLC.