Cendyn’s Merger With Data Rival Is Latest Private Equity Rollup in Hotel Tech
Cendyn has acquired NextGuest, its long-time rival. The combined company, using the Cendyn name, claims to be the largest provider based in North America that provides customer relationship management and digital marketing tools to hotels worldwide. Accel-KKR supported the deal. The private equity firm based in Silicon Valley became a majority owner of Cendyn, based in Boca Raton, […]
Carlyle to invest US$200 million in Kakao Mobility
Global investment firm The Carlyle Group, through its Carlyle Asia Partners V fund, has agreed to invest US$200 million in Kakao Mobility, the largest mobility-as-a-service (MaaS) platform in South Korea. The company was launched in 2015 as a business unit of Kakao Corp, an integrated mobile lifestyle platform company, and spun off in 2017. It […]
Private Equity Giant Apollo Hires Ex-SEC Chief Jay Clayton
Private equity giant Apollo Global Management hired ex-SEC chief Jay Clayton, the firm announced Thursday, as it seeks to reform after the resignation of CEO Leon Black in the wake of a probe into Black’s ties to convicted sex offender Jeffrey Epstein. In late January, law firm Dechert LLP cleared Black of any wrongdoing in […]
Second City acquired by New York private equity firm
The buyer is a firm run by private equity investor Strauss Zelnick, whose interests include the Grand Theft Auto game franchise. ZMC, a New York firm run by private equity investor Strauss Zelnick, said Thursday it has acquired the iconic comedy club and school, which has expanded into programs for corporations. Terms were not disclosed. […]
KKR to Acquire Flow Control Group from Bertram Capital
KKR, a leading global investment firm, today announced it has entered into an agreement to acquire Flow Control Group, a leading distributor of mission-critical flow control and industrial automation products, from Bertram Capital. Headquartered in Charlotte, North Carolina, Flow Control Group serves as a trusted, value-added distributor and advisor to more than 10,000 customers and […]
Lloyds Pharmacy owner McKesson mulls £400m sell-off
The owner of Lloyds Pharmacy is exploring a £400 million sale of the business as the chemist chain struggles with rising costs and government funding cuts. The New York-listed McKesson, which bought Lloyds in a $8.3 billion takeover of its German parent Celesio in 2014, has hired bankers at Barclays to contact prospective buyers. McKesson […]
Broadview Group Invests in Solution Matrix
Broadview Group Holdings, LLC, a leader in direct middle-market investing, announced today its investment in Solution Matrix, Inc. in conjunction with EXI Investment Partners, management, and other co-investors. Terms of the transaction were not disclosed. “SMI is a really good business and a great example of our focus on truly differentiated engineered products companies,” said […]
Resilience Capital Partners Names Tim Seitter as President and CEO of Portfolio Company CR Brands
Resilience Capital Partners has named Tim Seitter President and CEO of its portfolio company CR Brands. Tim Seitter has more than 25 years of experience in the consumer packaged goods industry, including serving as the vice president of marketing and head of the Oral Care Strategic Business Unit at Church and Dwight. “Tim combines an […]
Resolute Capital Partners Promotes Christine Hiatt to COO
Resolute Capital Partners, a private equity firm that actively invests and manages investments in energy, commercial real estate, and technology, announced today that Christine Hiatt has been promoted from VP to COO. In her new role, Hiatt will be responsible for delivering on the company’s business plan and investment strategies, while overseeing the daily operations […]
Elon Musk’s SpaceX Now Worth $74 Billion After Latest Fundraising Round
Billionaire Elon Musk’s rocket company SpaceX reportedly completed an $850 million fundraising round last week, as it looks to raise capital for its ambitious Starlink and Starship projects. News of the funding was first reported by CNBC, which said that the private company will now have a valuation of around $74 billion, citing people familiar […]
