PEI Staff
Long Ridge Equity Partners, a growth capital firm based in New York, closed its second fund with $227 million in commitments. Like its predecessor, Long Ridge Equity Partners II LP will target investments in growing financial services companies that have between $5 million to $50 million of revenue.
Soothe, a message and wellness company based in Los Angeles, raised $35 million in growth financing led by returning investor The Riverside Company. The round brings Soothe's total funding to $47.7 million.
In First Read, Square's loss widens but revenue beats estimates, a Google computer beat one of the world's top players in a round of GO and John Gutfeund, known as the "King of Wall Street" at Solomon Brothers, dies at 86.
Epix Healthcare Associates LLC, the holding company of Atlanta-based Epix Anesthesia LLC, a provider of anesthesia services to ambulatory surgery centers and community hospitals, partnered with Ashlar Capital. Ashlar has also committed capital to pursue complementary acquisitions that leverage the Epix's infrastructure and expertise. Scott Freishtat and Ian McKelvie of Ashlar will join the company's board.
Weld North Holdings LLC, an education investment company backed by KKR, acquired Winter Park, Florida-based Performance Matters, which offers student assessment systems and analytics. As part of the transaction, Performance Matters will merge with Truenorthlogic, which provides educators with professional growth solutions. Based in Sandy, Utah, Truenorthlogic was acquired by Weld North in April 2014.
ARCH Global Precision LLC, a portfolio company of Strength Capital Partners, acquired Advanced Precision Inc, a medical device maker based in Sparta, New Jersey. ARCH makes precision machined components and cutting tools. Sperry, Mitchell & Company, Inc initiated the transaction and served as exclusive financial advisor to Advanced Precision.
Altamont Capital Partners, Makena Capital Management and Access Holdings committed capital to Kuvare Holdings. Based in Chicago, Kuvare is a growth-oriented platform for investing in insurance companies.
In Thursday's Second Opinion, WeWork is raising $780 mln, Buffett’s Dayang Group takes a $30 mln stake in VC-backed Indochino, and Facebook buys Masquerade to challenge Snapchat’s rainbow vomit.
Advisory firm Duff & Phelps promoted 13 professionals to managing director. Promotions in the firm's M&A practice include: Nicholas Clemens, Darren Gange, Bradley Hileman, Laura McNaughton, Margaret Mi and Edward Mielke.
Sidley Austin LLP added six new partners to its private equity and corporate practice in London. The six new hires, who have worked together as a team several years, primarily represent private equity sponsors operating in Europe.