SANTA BARBARA: QAD Inc., a prominent provider of cloud-based manufacturing and supply chain solutions, has acquired Phenix Software Inc. This acquisition aims to enhance manufacturers’ productivity and factory performance. The newly named QAD Advanced Scheduling solution optimizes production by determining the best sequence for product manufacturing on each line, minimizing changeovers, optimizing inventory, and aligning…
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Butterfly Equity to acquire luxury wine company The Duckhorn Portfolio for $1.95 billion
LOS ANGELES: Butterfly Equity, a Los Angeles-based private equity firm specializing in the food and beverage sector, has entered into a definitive agreement to acquire The Duckhorn Portfolio (NYSE: NAPA), North America’s premier luxury wine company, an all-cash transaction that values the company at approximately $1.95 billion. Under the terms of the Agreement, Duckhorn stockholders will…
Mason Capital to acquire CB&I storage solutions business from McDermott International
NEW YORK: A consortium led by Mason Capital Management LLC in partnership with IES Holdings Inc. (Nasdaq: IESC), and other investors, has entered into a definitive agreement to acquire the CB&I storage solutions business, the world’s foremost designer and builder of storage facilities, tanks and terminals for energy and industrial markets, from McDermott International. CB&I…
Vestis to sell 39% equity stake in Aramark Uniform Services Japan to Mitsui & Co.
Vestis (NYSE: VSTS), a leading provider of uniforms and workplace supplies, today announced an agreement to sell its 39% equity stake in Aramark Uniform Services Japan Corporation (AUSJ) to majority owner Mitsui & Co., Ltd. for approximately $37 million. The company will use the proceeds from the transaction toward debt repayment. AUSJ, a uniform rental…
Coleville Partners has acquired The Powderhorn Agency from Accretive Insurance Solutions
NEW YORK: Coleville Partners has acquired The Powderhorn Agency from Accretive Insurance Solutions and appointed Nick Alexander as President. Powderhorn, based in Brookfield, Connecticut, specializes in residential warranty and protection programs for oil tanks and septic systems, with over 25 years of experience. Nick Alexander, a seasoned executive in the home warranty industry, brings extensive…
Manfred Knof is leaving Commerzbank AG on September 30
LONDON: The acting CEO of Commerzbank AG, Manfred Knof, will leave the Bank on 30 September 2024. The 59‑year‑old and the Supervisory Board have agreed on this. On Tuesday, it had rearranged the responsibilities at the Group’s top management and appointed Bettina Orlopp (54) as the future CEO and thus as successor to Knof. At…
Nmbr, Canada’s payroll software provider, announces CAD $7.6 million in seed funding
TORONTO: Nmbr, Canada’s first dedicated embedded payroll software provider, announced CAD $7.6 million in seed funding to elevate the payroll ecosystem for businesses nationwide. Nmbr offers companies the ability to embed Canadian payroll within their product in days or weeks, as opposed to the years of development for payroll products of the past. In doing…
Wind-powered maritime transport company, VELA, raises €40 million
NEW YORK: VELA, a pioneering French company innovating in 100% wind-powered maritime transport, is proud to announce a significant funding round of €40 million ($43 million USD)—a round led by Crédit Mutuel Impact, 11th Hour Racing & BPI – French Public Investment Bank. “This major fundraising marks a key step in VELA’s development. We are…
Karolinska Development AB divests its shareholding in Henlez ApS
STOCKHOLM: Karolinska Development AB (Nasdaq Stockholm: KDEV) announces the divestment of all its shares in the portfolio company Henlez ApS. Following the transaction, Karolinska Development’s investment portfolio consists of eleven holdings. Karolinska Development invested in Henlez ApS in 2022, in syndication with the Nordic venture capital firm Eir Ventures. Henlez is a privately held Danish…
BSE shares surge amid speculation of NSE IPO
Shares of the Bombay Stock Exchange (BSE), Asia’s oldest stock exchange, soared by up to 9% in Mumbai trading on Friday, extending its weekly gains to approximately 38%. This surge comes as market participants speculate about the potential initial public offering (IPO) of the National Stock Exchange (NSE) of India Ltd, following its recent acquittal…
Platinum Equity and Butterfly jointly acquired Rise Baking Company
LOS ANGELES: Global investment firm Platinum Equity and Los Angeles-based private equity firm Butterfly specializing in the food sector, today announced the acquisition of Rise Baking Company. Platinum Equity and Butterfly will be equal partners in the investment. Financial terms of the transaction were not disclosed. The transaction is expected to close in Q4 2024….
Gearset has acquired Clayton, a cutting-edge code analysis platform
CAMBRIDGE: Gearset, the leader in Salesforce DevOps solutions, has acquired Clayton, a cutting-edge code analysis platform designed specifically for Salesforce. The strategic acquisition is Gearset’s first, following years of rapid growth fueled by a $55 million growth investment from Silversmith Capital Partners. In that time, Gearset has launched several products and upgrades, and reached the milestone…