New PE firm officially launched its fundraising process Monday after discreetly raising almost $431m and closing a deal amid corona.
Arctos Sports Partners seeks to raise $1.5bn-plus
Category: M&A Insights & Trends
Category Added in a WPeMatico Campaign
Ara Partners garners about $400m for inaugural fund
AEI Structured Solutions provides $10m to ThayerMahan
Groton, Connecticut-based ThayerMahan, a maritime technology company, has secured $10 million in funding.
L3Harris closes $1B sale of airport security/automation business
L3Harris (NYSE:LHX) has closed the $1B sale of its airport security and automation business to Leidos (NYSE:LDOS).
The deal was in all cash.
L3Harris’ Security & Detection Systems and MacDonald Humfrey Automation solutions (used in aviation and transportation industries, regulatory and customs authorities, government and law enforcement agencies, and commercial and other high-security facilities) boast annual revenues of nearly $500M.
Associated Banc-Corp to sell benefits & risk consulting unit
Associated Banc-Corp (NYSE:ASB) agrees to sell Associated Benefits & Risk Consulting to USI Insurance Services for ~$265.8M in cash.
“This transaction allows us to monetize our investment in ABRC and further our strategic goals of enhancing shareholder value and being a source of strength for our customers, colleagues and communities,” said Philip B. Flynn, president and CEO of Associated.
The capital from the transaction will support loan growth, create an added buffer, and support ASB’s dividend policy, the company said.
ABRC’s last twelve months pro forma revenue was ~$89M.
AmerisourceBergen eyes Walgreens’ drug distribution operation
According to Reuters, AmerisourceBergen (NYSE:ABC) has approached Walgreens Boots Alliance (NASDAQ:WBA) about a purchase of its pharmaceutical wholesaling division (known as Alliance Healthcare).
ABC is willing to pay about $6B for the unit.
WBA +1.9% after hours.
Deal activity in North America to see steep declines in coming quarters: PitchBook
The data agency said that with most dealmakers working from home and valuation estimates varying widely, North America is set to drop to approximately 400 deals in Q3 2021, from north of 3,000 in Q1.
Life Under Quarantine: Palladium Equity’s Adam Shebitz
Goofy Zoom sessions, family bonding and a DIY haircut – an investor finds the hidden silver linings.
Bow River-backed Veregy buys Four Star
Veregy, which is backed by Bow River Capital, has acquired Texas-based Four Star Fabricators and Service Company LLC and Four Star Mechanical LLC.
Nasdaq, PureShares and ETFMG reach settlement
Nasdaq (NASDAQ:NDAQ) and Exchange Traded Managers Group agree to certain cash payments from ETFMG to Nasdaq and PureShares LLC, under the settlement.
Also ETFMG will transfer certain of its intellectual property and related assets to a Nasdaq affiliate. The transaction is expected to close in H2 2020.
The settlement resolves claims regarding former PureFunds ETFs in two separate lawsuits — one in the Southern District of New York Federal Court and the other in the New Jersey State Superior Court.
In the suits, Nasdaq and Andrew Chanin, founder of the cybersecurity ETF known as HACK, accused ETFMG of stealing $1.4B in ETFs.
Previously: Nasdaq cyber ETF suit goes to trial (May 13, 2019)
