SCM Insurance Services Inc., a Canadian provider of outsourced services to the insurance industry, has secured a "significant equity investment" from TorQuest Partners.
Altegrity, a portfolio company of Providence Equity Partners, has completed its $1.13 billion acquisition of investigations company Kroll from Marsh & McLennan Cos. Altegrity is led by former Marsh CEO Michael Cherkasky.
GTCR has formed Jessamine Healthcare Inc., a Rockville, Md.-based platform to acquire companies in the healthcare payor and outsourced payor services industries. No financial terms were disclosed. Jessamine Healthcare will be led by Sale Wolf, former CEO of Coventry Health Care (NYSE: CVH).
Francisco Partners has acquired a majority of the share capital and voting rights of Emailvision SA (NYSE Euronext: ELEMV), a provider of email marketing software. The deal was valued at approximately €46 million.
It’s Tuesday and the sky is warning of rain so this update on the Modern Luxury Media auction will be short. peHUB has previously reported the Greenspun Corp., which owns Niche Media, had been vying for the magazine publisher. We’ve now learned that the "smart money" --which is believed to include bidders like Curtco Robb, Bonnier Corp., Greenspun as well as some VC firms -- was out of the Modern Luxury auction a few weeks ago, one person says.
GI Partners has sponsored a management buyout of SoftLayer Technologies, a Dallas-based provider of on-demand data center services. No financial terms were disclosed. DH Capital advised SoftLayer on the deal.
Language Stars LLC, a provider of language instruction to the pre-school and elementary school market, has raised an undisclosed amount of private equity funding from Hispania Capital Partners.
GTCR is targeting $3 billion for its tenth fund, with marketing already underway. The Chicago-based private equity firm's prior fund was capped at $2.75 billion in 2006. In related news, we're told that GTCR chairman Bruce Rauner is scaling back his activities. "He's been in more of an advisory role for some time now and not as active sourcing deals, sitting on boards, etc.," a source says, adding that the transition becomes more "official" with the new fund.
Forum Energy Technologies has formed via the merger of five companies, to provide manufactured and applied products to the global energy industry. The companies were: Forum Oilfield Technologies, Triton Group, Subsea Services International, Global Flow Technologies and Allied Technology. SCF Partners provided $100 million in equity to create FET, which will be run by Cris Gaut, a managing director with SCF Partners who previously was CFO and the head of the drilling and evaluation at Halliburton. Eight banks have provided a $450 million credit facility, with an additional $150 million accordion feature.
(Reuters) – Blackstone Group LP (BX.N) has agreed to buy a shopping mall in Hawaii as well as a stake in a warehouse venture for a combined $859 million, Bloomberg reported on Monday, citing two sources. The private equity firm is buying the Pearlridge Center on Oahu with Glimcher Realty Trust (GRT.N) for $242 million, […]