PEI Staff
Prelude Partners closed its oversubscribed inaugural fund, Prelude Partners Fund LLC. Prelude will target businesses with between $10 million and $50 million in annual revenue and at least $2 million in EBITDA, with a focus on founder-owned companies.
In Friday's Second Opinion, the Justice Department files a motion to force Apple to comply with an FBI order, China's top securities regulator to step down after policy missteps, the Wall Street Journal reports, and Yahoo hires Wall Street banks to examine options.
Trivest Partners invested in IDMWORKS, a identity and access management service provider. Financial terms of the deal were not disclosed. The IDMWORKS transaction represents the 9th platform company investment in Trivest Fund V, a $415 million fund dedicated to investing in founder and family-owned businesses.
The Riverside Company and the company’s founders have sold French pharmaceutical company HRA Pharma to Goldman Sachs and European private equity firm Astorg. Financial terms of the transaction were not disclosed. Riverside invested in HRA in 2011.
Dallas-based Highlander Partners LP acquired Fuerst Day Lawson Holdings Ltd in partnership with the company's chief executive officer Marc Mardi. Fuerst Day Lawson is a London-based provider of specialty ingredients to the food, beverage, fragrance and chemical industries. Terms of the deal were not disclosed.
To close out your week, First Read gives you news: IBM deploys blockchain-as-a-service, how high-flying Zenefits fell to earth and Buzzfeed finds a comment by Trump in 2002 supporting the invasion of Iraq.
In Thursday's Second Opinion, secondary shops are being flooded with unicorn share sellers, Tech Crunch reports, IBM is buying Truven Health Analytics from Veritas Capital Management for $2.6 billion, and Uber is losing $1 billion a year to compete in China.
Wynnchurch Capital acquired Texas Hydraulics, a maker of hydraulic cylinders, swivels and other parts, from Dover Corp. Financial terms of the transaction were not disclosed.
Bain Capital, GIC and Advent International have invested approximately $350 million to purchase minority stakes in QuEST, a engineering solutions provider based in Singapore. The firms purchased stakes held by an affiliate of Warburg Pincus.
PT Holdings LLC, a Summit Partners portfolio company, acquired Whaley Foodservice Repairs Inc, a parts distributer for the foodservice industry based in South Carolina. PT Holdings is the parent company of Parts Town, a maker of parts for the foodservice industry.