Georgia says the Heck with Peaches bring on the Cannabis

Georgia ditched the Peach for Cannabis

More folks are coming for Netflix, so maybe they shouldn’t have raised their rates.  First, the Finnish did bookshelves, so it was just natural that they would move to nuclear reactors. Georgia businesses have no worry about a boycott, as Atlanta just scored a $100M cannabis score. For all those screaming that the economy is heading for the first recession in ten years, well all I have to say is last week private-equity raised over $1.2 BILLION – with a B — dollars.


Venture

Jaja, a U.K.-based mobile-first business providing credit cards and other financing services, plans to acquire the U.K. credit card accounts of the Bank of Ireland for 530 million pounds ($671 million). Jaja also raised  £20 million ($25 million) in funding from investors including KKR and Centerbridge Partners.

MobiTV, an Emeryville, Calif.-based provider of IP-based video delivery solutions, raised over $50 million in funding from Oak Investment Partners, Ally Financial, and Cedar Grove Partners. 

Ornikar, a French driving school startup, raised 35 million euros ($40 million) in funding. Idinvest and Bpifrance led the round.

Picosun Oy, a Finnish manufacturer of atomic layer deposition reactors, raised 12 million euros ($13.6 million) in funding. Investors included CapMan Growth fund, Finnish Industry Investment Oy, and First Fellow Partners.

SV Academy, a San Francisco-based firm seeking to train potential Silicon Valley employees, raised $9.5 million in Series A funding. Owl Ventures led the round and was joined by investors including Kapor Capital and Strada Education Network.

Fellow, an Ottawa-based employee management software with personalized recommendations on productivity, raised $6.5 million in seed funding. Investors included Inovia Capital,  Felicis Ventures and Garage Capital.

Laundrapp, a London-based laundry service merged with Zipjet, a Berlin-based on-demand laundry business. The merged company also raised a fresh funding round from existing investors including Toscafund, Hargreave Hale VCT, Henkel, and Rocket Internet.  .

HEALTH

– Surterra Wellness, an Atlanta, Ga.-based retailer of cannabis-based medical products, raised $100 million in Series D funding. Investors included former Patrón Spirits Company CEO Ed Brown.

Paloma Health, a New York-based digital medical practice focused on hypothyroidism, raised $2.5 million in seed funding. Crosscut Ventures led the round and was joined by investors including Human Ventures, and FJ Labs.

Private Equity

Northleaf Capital Partners acquired CSV Midstream, a Calgary-based provider of midstream solutions.

– Ithaca Holdings, a portfolio company of the Carlyle Group, plans to acquire Big Machine Label Group, Tennessee-based records, and media holding company.

Permira is weighing a potential sale or IPO of British bootmaker Dr. Martens, per Bloomberg citing sources. Permira bought Dr. Martens in 2014 for 380 million euros ($432 million).

OTHERS

Berry Global Group acquired RPC Group, a British packaging firm, for $6.5 billion including debt.

Apple invested $100 million in Japan Display, a Japanese electronics screen maker. Apple will join a consortium led by Harvest Group that will invest up to $743 million in the firm, per Reuters citing sources. .

RockRose Energy acquired the U.K. businesses of Marathon Oil, a Houston-based oil firm, for $95 million.

1aim, a Berlin-based startup providing mobile access control for office buildings, was acquired by FSB.

IPOS

Advantage Insurance, a San Juan, Puerto Rico-based life insurance provider, withdrew plans for a $150 million IPO. Raymond James, JMP Securities and B. Riley & Co. were underwriters in the deal. The firm planned to list on the NYSE as “AVI.”

Livongo Health, a Mountain View, Calif.-based healthcare platform for chronic illness management, filed for a $100 million IPO. It posted revenue of $68.4 million in 2018 and a loss of $33.5 million. General Catalyst, Kinnevik Online, and KPCB Holdings back the firm. Morgan Stanley, Goldman Sachs, and J.P. Morgan are underwriters. It plans to list on the Nasdaq under the symbol “LVGO.” .

ProSight Global, a Morristown, N.J.-based specialty insurer, filed for a $100 million IPO. Goldman Sachs and TPG back the firm. The firm posted revenue of $785.9 million in 2018 and an income of $55.3 million. Goldman Sachs, Barclays, and BofA Merrill Lynch are underwriters. It plans to list on the NYSE as “PROS.” .

EXITS

Brookfield Infrastructure and GIC will acquire Genesee & Wyoming, a Darien, Conn.-based railroad firm, for about $8.4 billion including debt.

KKR plans to sell Kokusai Electric Corp, a Tokyo-based maker of semiconductor-manufacturing equipment, to Applied Materials for $2.2 billion. 

KJK Sports, a portfolio company of KJK Management, agreed to acquire Baltic Bicycle Trade UAB, the parent company of a Lithuanian bike manufacturer, from Asgaard A/S and LT capital I.

TPG Growth acquired Crunch Fitness, a gym chain backed by Angelo, Gordon & Co.

Firms and Funds

LBC Credit Partners plans to raise $1 billion for its fifth fund, per an SEC filing

Susa Ventures announced its third fund, a $90 million early-stage fund, a $50 million opportunity fund, as well as a $2 million parallel fund.

TDK Corporation (TSE: 6762) launched TDK Ventures, with a $50 million fund focused on material science and power.