PEI Staff
BroadOak Capital Partners, a life sciences-focused merchant bank, invested $4 million in LabConnect. Seattle-based LabConnect provides global central laboratory services.
Duke Street is leading a consortium to acquire Medi-Globe Corp, a German medical devices business focused on minimally invasive surgery. The consortium partners include DB Private Equity, Atnahs Capital, Brederode and Harwood Capital. The acquisition is Duke Street’s fifth standalone deal outside a traditional fund structure. The purchase price was not announced. German venture firm GUB Wagniskapital was Medi-Globe’s anchor shareholder.
Pfingsten closed its fifth investment fund at $382 million, exceeding its $350 million fundraising target. The firm will continue to invest in middle market manufacturing, distribution and business services companies with transaction values ranging from $15 million to $100 million and EBITDA between $3 million and $12 million. Pfingsten said it plans to make approximately 14 platform investments. Kirkland & Ellis served as legal advisor to Pfingsten.
Adam Larson joined Kirkland & Ellis LLP as a corporate partner in the firm’s Houston office. Larson was previously a partner at Vinson & Elkins LLP, where he specialized in mergers and acquisitions and the energy private equity space. He represented Warburg Pincus in its investments in Delonex Energy and Venari Resources LLC, according to a 2013 news release.
In today's Second Opinion, ex-Chesapeake CEO Aubrey McClendon dies in a car crash a day after he was indicted for conspiracy, startup Oscar Health lost $92.4 million in its New York health insurance business last year, and NASA astronaut Scott Kelly returns to Earth two inches taller after living in space for a year.
James McNerney Jr, retired chairman and chief executive officer of The Boeing Company, joined Clayton, Dubilier & Rice as a senior advisor.
ICV Partners LLC sold Consolidated Aviation Services (CAS) to Worldwide Flight Services, a cargo and ground handler owned by Platinum Equity. Headquartered at John F. Kennedy International Airport, CAS is the largest cargo handler in North America, according to a news release. Financial terms were not disclosed.
Chicago-based Arbor Investments acquired California-based commercial bakery South Coast Baking LLC. South Coast will join Arbor’s baking platform, Le Petit Pain Holdings, which includes New French Bakery Inc, Best Maid Cookie Company Inc and Hudson Baking Company Inc. Financial terms of the deal were not disclosed. Winston & Strawn LLP served as Arbor’s legal counsel in connection with the transaction.
Livingbridge, a London-based mid-market private equity firm, invested in BoilerJuice, a UK-based online heating oil retailer. Terms of the investment were not disclosed.
In today's First Read, ex-Chesapeake Energy CEO Aubrey McClendon is indicted on antitrust charges, Barclays is pulling out of Africa after more than a century, and the Ivy League moves to eliminate tackling at football practices.