Skadden, Arps, Slate, Meagher & Flom

SVB Financial Group Enters into Definitive Purchase Agreement to Sell SVB Securities to Management Team Group Led by Jeff Leerink and Backed by The Baupost Group

Retrieved on: 
Sunday, June 18, 2023
Slate, Centerview Partners, LLP, Bankruptcy, SVB Securities, Chapter 11, Title 11, United States Code, United States corporate law, United States Bankruptcy Court for the Southern District of New York, Rothschild, Baupost Group, Sale, Oliver Cromwell, Incident management team, Investment, Skadden, Arps, Slate, Meagher & Flom, SVB, Kroll, Willkie Farr & Gallagher, Senior management, Alvarez and Marsal, Sullivan & Cromwell, United States bankruptcy court, Silicon, Pink, Financial adviser, Financial services

MoffettNathanson LLC, a sell-side research business owned by SVB Financial Group, is not included in the transaction and will remain part of SVB Financial Group.

Key Points: 
  • MoffettNathanson LLC, a sell-side research business owned by SVB Financial Group, is not included in the transaction and will remain part of SVB Financial Group.
  • "This transaction is a significant milestone in SVB Financial Group's strategic alternatives process," said Bill Kosturos, SVB Financial Group's Chief Restructuring Officer.
  • SVB Financial Group is continuing to evaluate strategic alternatives for SVB Capital and the Company's other assets and investments.
  • US Inc. is serving as financial advisor to the Leerink Management Team and to The Baupost Group funds.

Core Specialty Announces Acquisition and Formation of Medical Stop-Loss Division

Retrieved on: 
Monday, June 12, 2023
Slate, Medicine, AM Best, Executive, Senior, Policy, American National Insurance Company, Acquisition, Skadden, Arps, Slate, Meagher & Flom, Risk, ANICO, ANAT, J. P. Morgan, Reinsurance

Jim Stelling to serve as President, Medical Stop-Loss

Key Points: 
  • Jim Stelling to serve as President, Medical Stop-Loss
    CINCINNATI, June 12, 2023 (GLOBE NEWSWIRE) -- Core Specialty Insurance Holdings, Inc., and its subsidiaries (“Core Specialty” or the “Company”) announced today that it will form a Medical Stop-Loss Division through the acquisition of the MGU/Stop-Loss business of American National Group (“ANAT”).
  • The acquisition will mark Core Specialty’s 13th Specialty Business Unit.
  • Jim Stelling will join Core Specialty as the President of the newly formed Medical Stop-Loss Division.
  • Jeff Consolino, Core Specialty’s Founder, President and Chief Executive Officer, said, “We are delighted that Medical Stop-Loss will become our 13th Specialty Business Unit.

Mars Completes Acquisition of Heska, Global Provider of Advanced Veterinary Diagnostic and Specialty Solutions

Retrieved on: 
Tuesday, June 13, 2023
Veterinary, Technology, Pets, Telemedicine, Virtual Medicine, Software, Practice Management, Health, Consumer, Data Management, Slate, Mars, Incorporated, Telehealth, LLP, Gibson Dunn, Science, BofA Securities, Acquisition, Skadden, Arps, Slate, Meagher & Flom, Pet, Medical imaging, Financial adviser, Mars, David Heska Wanbli Weiden

Mars, Incorporated (“Mars”) today announced the successful completion of Mars’ acquisition of Heska.

Key Points: 
  • Mars, Incorporated (“Mars”) today announced the successful completion of Mars’ acquisition of Heska.
  • On April 3, 2023, the companies announced they had entered into a definitive agreement under which Mars agreed to acquire Heska for $120.00 per share.
  • Heska is now part of Mars Petcare’s Science & Diagnostics division, enabling broader coverage across diagnostics and technology, while accelerating R&D and expanding access globally to pet healthcare solutions.
  • Nefertiti Greene, President, Mars Science & Diagnostics, said: “It’s an honor to welcome Heska to the Science & Diagnostics division of Mars Petcare.

BlackRock, Inc. to Acquire Private Debt Manager Kreos Capital

Retrieved on: 
Thursday, June 8, 2023
Finance, Consulting, Banking, Accounting, Professional Services, Slate, Moelis & Company, Semiconductor, BLK, BlackRock, Skadden, Arps, Slate, Meagher & Flom, General partnership, Acquisition, Growth, CIO, Partnership, AI, NYSE, Financial services, Bank, KREO (FM)

BlackRock Inc. (NYSE: BLK) and Kreos Capital (“Kreos”) today announced a definitive agreement under which BlackRock will acquire full control of Kreos, a leading provider of growth and venture debt financing to companies in the technology and healthcare industries.

Key Points: 
  • BlackRock Inc. (NYSE: BLK) and Kreos Capital (“Kreos”) today announced a definitive agreement under which BlackRock will acquire full control of Kreos, a leading provider of growth and venture debt financing to companies in the technology and healthcare industries.
  • The acquisition of Kreos adds to BlackRock’s position as a leading global credit asset manager and advances its ambitions to provide clients with a diverse range of private market investment products and solutions.
  • BlackRock’s recent Global Private Market Survey found that more than half of respondents plan to increase their private credit holdings in 2023.
  • Kreos’ investment team will integrate into BlackRock’s European Private Debt platform and current Kreos leadership will continue to be responsible for executing on the firm’s proven investment strategies.

Mixhalo Names Corey Laplante President Amidst Torrent of Deal Activity

Retrieved on: 
Tuesday, June 6, 2023
Kraken, Seattle Kraken, L-Acoustics, Sport, Airport, Skadden, Arps, Slate, Meagher & Flom, FC Dallas, General counsel, SAN, NASCAR, Head

SAN FRANCISCO, June 6, 2023 /PRNewswire-PRWeb/ -- Mixhalo, the ultra-low latency networking technology that unlocks high-fidelity, immersive audio for fans at live events, today announced COO Corey Laplante will now also serve as the company's President, spearheading revenue and operations. In his expanded role, Laplante will reinforce Mixhalo's commitment to enhancing the way fans experience live events by focusing on further expanding the company's reach and category leadership.

Key Points: 
  • SAN FRANCISCO, June 6, 2023 /PRNewswire-PRWeb/ -- Mixhalo , the ultra-low latency networking technology that unlocks high-fidelity, immersive audio for fans at live events, today announced COO Corey Laplante will now also serve as the company's President, spearheading revenue and operations.
  • In his expanded role, Laplante will reinforce Mixhalo's commitment to enhancing the way fans experience live events by focusing on further expanding the company's reach and category leadership.
  • "What we are seeing now is the culmination of years of effort developing this technology, demoing it for partners, and gathering data on consumer engagement," said Laplante.
  • Laplante has been with Mixhalo since early 2019, initially joining as Head of Legal and working up to General Counsel and VP of Operations and then COO.

LL Flooring Confirms Receipt of Unsolicited, Non-Binding Proposal from Cabinets To Go, Subsidiary of F9 Brands, Inc.

Retrieved on: 
Tuesday, May 30, 2023
Commercial Building & Real Estate, Construction & Property, Specialty, Interior Design, Home Goods, Architecture, Retail, Residential Building & Real Estate, Online Retail, Slate, LLP, LL Flooring, LL, Cabinet, Skadden, Arps, Slate, Meagher & Flom, Cabinets To Go, NYSE, Financial adviser

LL Flooring Holdings, Inc. (“LL Flooring” or “Company”) (NYSE: LL) today confirmed that it has received an unsolicited, non-binding proposal from Cabinets To Go, LLC (“Cabinets To Go”), a subsidiary of F9 Brands, Inc., to acquire all of the outstanding shares of the Company for $5.76 per share in cash.

Key Points: 
  • LL Flooring Holdings, Inc. (“LL Flooring” or “Company”) (NYSE: LL) today confirmed that it has received an unsolicited, non-binding proposal from Cabinets To Go, LLC (“Cabinets To Go”), a subsidiary of F9 Brands, Inc., to acquire all of the outstanding shares of the Company for $5.76 per share in cash.
  • The Company believes that the long-term fundamentals of LL Flooring’s business are strong and believes that it is successfully executing on its six core growth strategies.
  • LL Flooring shareholders do not need to take any action at this time.
  • LL Flooring does not intend to comment further on Cabinet To Go’s unsolicited proposal until the Board has completed its review.

Bonterra Accelerates Expansion of Employee Engagement Solutions Through Acquisition of WeSpire

Retrieved on: 
Wednesday, May 31, 2023
Slate, Motivation, Social responsibility, Organization, Skadden, Arps, Slate, Meagher & Flom, ESG, CSR, PwC, Management

AUSTIN, Texas, May 31, 2023 /PRNewswire/ -- Bonterra™, a social good software company focused on powering those who power social impact, earlier today announced that it has reached an agreement to acquire WeSpire, a leading provider of purpose-driven employee engagement software empowering CSR & ESG teams. The terms of the transaction have not been disclosed.

Key Points: 
  • The WeSpire platform leverages behavioral science content and techniques that increase employee capacity, drive up motivation, and nudge participants to act.
  • In welcoming WeSpire, Bonterra immediately expands and accelerates its offering and presence in the large and mid-sized corporate social responsibility market for current and future enterprise customers.
  • "We are excited to welcome the WeSpire team and their customers into the Bonterra family.
  • As a company dedicated to powering social impact, we recognize the critical role of employee engagement in driving positive change.

EY Announces Carter Malloy of AcreTrader as an Entrepreneur Of The Year® 2023 Southwest Award Finalist

Retrieved on: 
Tuesday, May 23, 2023
Slate, Colliers (company), Ernst & Young Entrepreneur of the Year Award, LLP, Haynes, EY, Ewing Marion Kauffman Foundation, PNC Financial Services, AcreTrader, Platinum, Gold, SAP, Growth, City, Skadden, Arps, Slate, Meagher & Flom, Ernst & Young, Accounting

Fayetteville, Ark., May 23, 2023 (GLOBE NEWSWIRE) -- Ernst & Young LLP (EY US) today announced that CEO and Founder Carter Malloy of AcreTrader was named an Entrepreneur Of The Year® 2023 Southwest Award finalist.

Key Points: 
  • Fayetteville, Ark., May 23, 2023 (GLOBE NEWSWIRE) -- Ernst & Young LLP (EY US) today announced that CEO and Founder Carter Malloy of AcreTrader was named an Entrepreneur Of The Year® 2023 Southwest Award finalist.
  • Carter Malloy was selected by an independent panel of judges.
  • "I am honored to be named a finalist for the Entrepreneur Of The Year® 2023 Southwest Award.
  • The Entrepreneur Of The Year National Overall Award winner will then move on to compete for the EY World Entrepreneur Of The Year™ Award in June 2024.

EY Announces Sean Minter, CEO and Founder of AmplifAI, as an Entrepreneur Of The Year® 2023 Southwest Award Finalist

Retrieved on: 
Thursday, May 25, 2023
Software, Networks, Professional Services, Internet, Business, Data Management, Apps, Applications, Technology, Small Business, Artificial Intelligence, Web3, Other Technology, Telecommunications, Minter, Slate, Colliers (company), Ernst & Young Entrepreneur of the Year Award, LLP, Haynes, EY, Ewing Marion Kauffman Foundation, PNC Financial Services, Platinum, Gold, SAP, Growth, City, Skadden, Arps, Slate, Meagher & Flom, Ernst & Young

Ernst & Young LLP (EY US) today announced that CEO and Founder, Sean Minter of AmplifAI was named an Entrepreneur Of The Year® 2023 Southwest Award finalist.

Key Points: 
  • Ernst & Young LLP (EY US) today announced that CEO and Founder, Sean Minter of AmplifAI was named an Entrepreneur Of The Year® 2023 Southwest Award finalist.
  • Reflecting on the announcement, Minter said, “I am honored and grateful to be named a finalist for the EY Entrepreneur Of The Year® 2023 Southwest Award for the second year in a row.
  • The Entrepreneur Of The Year National Overall Award winner will then move on to compete for the EY World Entrepreneur Of The Year™ Award in June 2024.
  • Founded and produced by Ernst & Young LLP, the Entrepreneur Of The Year Awards include presenting sponsors PNC Bank, N.A.

Fortress Management and Mubadala to Acquire Fortress Investment Group

Retrieved on: 
Monday, May 22, 2023
Asset Management, Professional Services, Finance, Neumark, Slate, Shearman & Sterling, PE, Fortification, Fortress Investment Group, Partner (business rank), Multimedia, Private equity fund, Kirkland & Ellis, Mubadala Investment Company, Skadden, Arps, Slate, Meagher & Flom, SoftBank Group, Goldman Sachs, Investment, Growth, PCV, III, Shearman, Security (finance), Management, Cryptocurrency, Brightline

Fortress Investment Group (“Fortress”) and Mubadala Investment Company, through its wholly owned asset management subsidiary Mubadala Capital (“Mubadala Capital”), today announced that they have entered into definitive agreements to acquire 90.01% of the equity of Fortress that is currently held by SoftBank Group Corp. (“SoftBank”), who have been the owners of Fortress since 2017.

Key Points: 
  • Fortress Investment Group (“Fortress”) and Mubadala Investment Company, through its wholly owned asset management subsidiary Mubadala Capital (“Mubadala Capital”), today announced that they have entered into definitive agreements to acquire 90.01% of the equity of Fortress that is currently held by SoftBank Group Corp. (“SoftBank”), who have been the owners of Fortress since 2017.
  • View the full release here: https://www.businesswire.com/news/home/20230522005259/en/
    After transaction close, Fortress management is expected to own a 30% equity interest in the company and will hold a class of equity entitling Fortress management to appoint a majority of seats on the board.
  • Mubadala Capital (which currently holds a 9.99% stake in Fortress through its Private Equity Funds II and III), will own 70% of Fortress equity.
  • After the closing, Fortress will continue to operate as an independent investment manager under the Fortress brand, with full autonomy over investment processes and decision making, personnel and operations.