Private equity investors are starving for restaurants, despite intense competition and increased consumer expectations, according to consulting firm RSM. Approximately $ 6.4 billion was invested in the restaurant, hotel and leisure sectors in the first quarter of 201
Kroger Co. (NYSE: KR) has agreed to purchase online food kit manufacturer Home Chef for up to $ 700 million. The purchase price consists of an upfront payment of $ 200 million and up to $ 500 over the next five years, based on milestone payments, including an increase in sales of in-store and online food packaging. Home Chef generated $ 250 million in revenue in 2017. L Catterton is one of the supporters of the house cook. "We have long believed that the future of our industry is omnichannel and more than just online meal kits, and we want to be where our customers are and want to help make home cooking easier, more accessible and more enjoyable." says Home Chef Founder Pat Vihtelic . Because Gotshal & Manges LLP represents Kroger and Sidley Austin LLP does the same for the Home Chief Provide Kröger customers both in-store and online cook sets. Grocers are running to keep pace with increasing food-maker competition as consumers look for healthier and more convenient options. "Me think many grocers have had to step back and think about how to differentiate themselves from the traditional food model, determine their competitiveness, and what makes the most sense to change, "says Mary Rodwogin Managing Director of Seattle-based consultancy Exvere In the year Albertsons bought Plated. For more deal activity in food kit s, can be found in our detailed feature.
"You have to go out and do business, you will not be on your own," says TA Associates managing partner Ajit Nedungadi on the private equity firm's focus on graduation of transactions. Headquartered in Boston, TA has invested approximately $ 20 billion in nearly 500 companies since it was founded 50 years ago in 1968. TA supports companies in five industries: technology, healthcare, financial services, business services, and consumers. The company invests in companies in North America, Europe and Asia. Nedungadi is co-head of the Core Investment Committee, oversees the European operations of the company outside of London and is actively involved in investing in India. We asked Nedungadi about TA's investment strategy in Europe and corporate culture, including focusing on proprietary dealflows. Read the full story: At TA Associates, "either work live or hunt for the next."
TA Associates Providers of Construction Data Think Project! The contract management company Cemar has acquired to expand in the UK. The financial terms were not disclosed.
Fantasy Sports Company FanDuel has committed to the acquisition of sports betting and gaming  Paddy Power Betfair . The deal follows U.S. Supreme Court rejected a 1992 federal law that banned most states from registering sports betting and paving the way for sports betting for states. Moelis & Co. (1945) Wilson Sonsini Goodrich & Rosati and Shepherd and Wedderburn advise FanDuel. Goldman Sachs (NYSE: GS) and Blank Rome advise Paddy Power
Madison Dearborn Partners has agreed to purchase a moving company Sirva Inc. from Aurora Resurgence and Equity Group Investments . Financial terms were not disclosed. Goldman Sachs & Co. (NYSE: GS) and Because Gotshal & Manges advised Sirva. Kirkland & Ellis represents Madison Dearborn.
RIver Associates GAHH LLC purchased a manufacturer of convertible top for the automotive aftermarket, Jeep tops and vehicle interiors. The buyer received funding from Abacus Finance Group.
ExamWorks a provider of audits, Medicare compliance and document management, has purchased MedSource National. The target offers independent medical exams. Bailey Southwell advised MedSource.
Software Testing and Business Assurance Company QualiTest Group Approved Purchase NCC Group SDLC, Software Testing Business Unit of NCC Group plc. Financial terms were not disclosed.
Alston & Bird Partners Thomas Feddo was appointed Deputy Secretary of Treasury for Investment Security, where he will be responsible for the ongoing operation of the Foreign Investment Committee the United States (CFIUS) . His appointment was made by Minister of Finance Steven Mnuchin . Feddo, who was a member of Alston & Bird's international trading and oversight group at the firm's Washington, DC office, oversees Treasury's responsibilities as chairman of CFIUS, an interinstitutional committee that reviews and identifies certain foreign investment in the United States US national security implications that may arise from the transactions.
Christ Davis joined McGuire Woods & # 39; Securities Practice in Pittsburgh as Senior Counsel. Davis was last at PNC Financial Group where she was Senior Counsel and Corporate Secretary.
Ken Gonzalez was hired by the cybersecurity company NightDragon Security as managing director. In addition, NightDragon has entered into a strategic partnership with Momentum Cyber to provide M & A advisory services to cybersecurity companies.
Creolus Ltd. . has launched Creolus Fund a fund focused on investing in materials and processes for the reuse, redesign and recycling of bioplastics derived from bioplastics. The fund invests 70 million euros in early-stage growth companies. 5Capital Fund Placements advised Creolus.
More covenant-lite loans "bleed" the middle classes, says Twin Brook Capital Partners co-founder Trevor Clark in this video interview in which he discusses the disadvantages of easing the lenders protection. "There are clearly some groups that do not have that much experience in lending through a credit crunch." Twin Brook won Mergers & Acquisitions & # 39; M & A Mid-Market Award for the Lender of the Year 2017. Read Our Questions and Answers: Lenders Must Be Active Partners, says Trevor Clark of Twin Brook ,
For more information on the rise of Cov-lite loans, see our interview with Ken Kencel, CEO of Churchill Asset Management : CLOs are a huge draw for income-hungry investors, says Churchill's CEO Ken Kencel.
To obtain information on how lenders evaluate potential transactions in today's highly competitive market, we asked Madison Capital Funding Chief Underwriting Officer Jennifer Cotton to share her thoughts: Cotton oversees Madison's underwriting and portfolio management teams and is a member of both the Investment Committee and the Senior Leadership team here: A "Capital Capital," says Madison Capital's chief underwriter, is a highly competitive credit process.
Axel Networks, Donnelley Financial Solutions, FD Fund Administration, Valuation Research Corp., RSM and numerous other service providers are here to help us Annual, updated Buying Guide. Read the full story: From fund managers to VDRs, dozens of companies support M & A professionals in the competition.
Artificial Intelligence, the Internet of Things, Portable Biometrics and Precision Medicine are changing the dealmaking in the Healthcare industry, says Essam Abadir, the CEO Aspire Ventures has recently teamed up with the Network Penn Medicine's Lancaster General Health hospitals to launch a $ 300 million fund to turn into personalized medical devices and practices to invest. Read our questions and answers with Abadir.
Read the full coverage of Mergers & Acquisitions & # 39; 11. M & A Mid-Market Award Winner : Campbell Soup, Huron Capital, Ideras CEO Randy Jacops, LLR Partners, McGuire Woods, Stryker, Twin Brook and William Blair .