PEI Staff
First Read takes you into the bbq-style weekend with news Carlyle got an extension for a boom-era mega-fund, Porsche plans to take on Tesla and hero on the subway uses illegal device to jam cell phone signals for peace and quiet.
The Carlyle Group agreed to acquire a majority stake in wholesale insurance broker JenCap Holdings LLC and the assets of Wholesale Trading Co-Op Insurance Services, which will be re-named Wholesale Trading Insurance Services LLC. Wholesale Trading is currently owned by its management team and external private investors. Financial terms of the deal were not disclosed. The deal positions JenCap, which will be based in New York, to be a consolidator of specialty insurance distribution and services businesses.
Wellnext LLC, a nutritional supplement company owned by WM Partners LP, agreed to acquire all of Natural Dynamics LLC's assets. Austin-based Natural Dynamics owns nutritional supplement brands as well as an educational site, Organic Connections.
Altus Capital Partners acquired Nichols Portland, a division of Parker Hannifin Corp. Headquartered in Portland, Maine, Nichols Portland makes pumps and gears.
The Carlyle Group invested in GGC Group. Financial terms of the investment were not disclosed. Based in Japan, GGC is the owner of Kyushu GGC Ltd and bean sprout brand Meisui Bijin. Equity for the transaction came from Carlyle Japan Partners III LP.
Oaktree Capital Management LP and Cornerstone Partners agreed to buy ProService Agent Transferowy from Highlander Partners. Financial terms of the deal were not disclosed. Based in Poland, ProService is a transfer agent and provider of business process outsourcing.
Audax Private Equity agreed to recapitalize Gastro Health PL. Based in Miami, Gastro Health is a gastroenterology physician practice management company with 21 centers across South Florida
In Second Opinion, Twitter offers additional restricted stock and cash bonuses to rein in talent flight, Bridgewater hires ex-Apple exec as co-CEO, PE-backed Krispy Kreme plans London IPO.
Westbridge Capital portfolio company Energist Medical Group, a maker of medical aesthetic equipment, bought part of Chromogenex Technologies Ltd, a Welsh business that recently went into administration. Energist acquired the global rights outside the US to the Chromogenex name and a range of i-Lipo brands and products.
Lariat Partners-backed LaMi Holdings LLC merged with ATA Retail Services LLC. The combined entity is a provider of impulse purchase programs to retailers.