| | | Wellspring acquires Cadence Petroleum Group, Blackstone sees opportunity in skin care, Brookfield pick of Sachin Shah for CIO signals firm’s big growth plans | | | | Monday, October 12, 2020 | | | | | Morning!
Blackstone Group made a bet on a skincare brand with its majority investment in ZO Skin Health, which is sold to physicians. Blackstone made the investment through its Tactical Opportunities fund, writes Karishma Vanjani on PE Hub.
“This is part of our healthcare efforts; investing in consumer products that are in the healthcare channel,” said Ram Jagannath, global head of healthcare for Blackstone Growth and Tactical Opportunities, speaking from his home office.
Although there was no auction process, the Irvine, California, label received interest from strategic and other investors.
“We knew them in the past [but] reached out to them this year,” Jagannath said. Financo was Blackstone’s buyside advisor on this deal.
Read it here on PE Hub. |
|
| | | Top Scoops | | | | Wellspring Capital Management acquired Cadence Petroleum Group, which distributes lubricant and fuel products. Cadence Petroleum was formed in 2018 through business combinations. Read it here on PE Hub. |
|
| | New York Times has a report today analyzing connections between Leon Black and Jeffrey Epstein, a relationship that Black representatives said ended in 2018 over a fee dispute. Read it here.
Have a great day! Reach me with your thoughts, tips, gossip, whatever at cwitkowsky@buyoutsinsider.com, on Twitter or find me on LinkedIn.
HOUSEKEEPING
Wanted: VCJ’s Rising Stars
It’s that time of the year. Over at Venture Capital Journal, editor Alastair Goldfisher and the team are looking for nominations for their second annual Rising Stars list. VCJ is seeking to identify the most talented and up-and-coming professionals in the venture capital community. Click here for more information on how you can submit your favorite Rising Star. | | |
|
| | | Sponsored by | | |  |
|
|
| | | | | | | | | | | | | | Riverside recaps G&A | | The Riverside Company has recapitalized Houston-based G&A Partners, a professional employer organization firm for small to medium-sized businesses. More... |
| | | | Wellspring acquires Cadence | | Wellspring Capital Management has acquired Asheboro, North Carolina-based Cadence Petroleum Group, a distributor of lubricant and fuel products. More... |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Veeam acquires Kasten | | Veeam, which is backed by Insight Partners, has acquired Kasten, a provider of data backup, disaster recovery and mobility solutions for Kubernetes, according to a blog post. More... |
| | | | | | | | | | |
|
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | VC-backed Kronos Bio goes public | | San Mateo, California-based Kronos Bio, a clinical-stage biopharmaceutical company, has raised about $250 million for its IPO after pricing its over 13.1 million shares at $19 per share. More... |
| | | | | | | | | | | | | | | | Earthly lands $2m | | Earthly, "a build automation tool for the post-container era," has raised $2 million in funding. More... |
| | | | | | | | | | | | | | | | | | | | | | |
|
| To update your PE Hub email preferences, or to unsubscribe, click here. |
|  | |
|
