PEI Staff
In Tuesday's First Read, a judge sides with Apple in a drug case involving a locked phone, investigators believe more than $1 billion was deposited into Malaysian prime minister's accounts, much from 1MDB and here are the 18 books investors will be reading over spring break.
Northbrook, Illinois-based Prime Property Investors Ltd launched Prime Healthcare Investors, a group of private equity funds specializing in the acquisition of triple-net-leased healthcare real estate across the U.S. The group closed its initial fund at $25 million in late 2015 and recently acquired three healthcare properties in the Dallas and Denver areas for $25 million. Prime Healthcare plans to invest a total of $100 million in healthcare real estate by the end of 2016 through additional acquisitions.
White Wolf Capital LLC acquired Stag Arms LLC, a maker of modern sporting rifles based in New Britain, Connecticut. Details of the transaction were not disclosed.
Tailwind Capital acquired Stratix Corp, a provider of managed mobile service solutions based in Norcross, Georgia. Financial terms of the deal were not announced. Geoffrey Baird, operating executive at Tailwind, will join the company's board as chairman.
KKR completed its acquisition of Mills Fleet Farm, a retailer of merchandise for outdoor activities. The deal was announced in January. Financial terms were not disclosed. Mills Fleet Farm operates 35 stores located throughout Wisconsin, Minnesota, Iowa and North Dakota
In Monday's Second Opinion, Valeant says it’s under investigation by the SEC, Argentina agrees to pay “holdout” hedge fund creditors $4.65 billion, ending a 15-year battle and Google’s self-driving car gets into an accident with a public bus in California.
In Jobs of the Week, Morgan Stanley is looking to fill several positions, Carlyle is hiring a vice president of portfolio management, and Gemini Investors is seeking a private equity associate.
American Century Investments promoted four to its investment management team. Sherwin Soo is promoted to portfolio manager on the emerging markets equity team. Rob Bove is promoted to portfolio manager on the U.S. Systematic Large Cap Core strategy. Nalin Yogasundram is promoted to portfolio manager on the U.S. Opportunistic Mid Cap Growth strategy. Lastly, Don Owen is promoted to portfolio manager and senior quantitative analyst on Legacy Multi Cap and Veedot.
An affiliate of J. F. Lehman & Company agreed to acquire API Technologies Corp, an Orlando, Florida-based provider of RF, microwave, millimeterwave, power, and security solutions. Under the terms of the agreement, a newly formed affiliate of J.F. Lehman & Co will acquire all of the outstanding shares of API common stock for $2.00 per share in cash in a merger transaction. The deal represents a premium of approximately 98 percent to API’s closing share price on Friday. Jefferies LLC is acting as financial advisor and Wilson Sonsini Goodrich & Rosati is acting as legal advisor to API.
Belcan LLC, a Cincinnati, Ohio-based supplier of engineering consultancy and staffing services, completed its acquisition of European-based East Kilbride Engineering Services, an engineering consultancy company. Belcan is a portfolio company of AE Industrial Partners LLC. Terms were not disclosed. The transaction was initially announced in January.