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Blue Point Closes Fifth Add-On for Local Crafts
- Blue Point Capital Partners, through its portfolio holding company Local Crafts Group, has acquired Jimmy Beans Wool, a specialty crafts retailer and distributor.
- Jimmy Beans Wool is a U.S. and international seller of yarn, knitting and crochet tools, patterns, and accessories.
- Laura Zander will continue as the CEO of Jimmy Beans Wool and has been named Chief Brand Officer of Local Crafts Group.
- This acquisition marks the fifth add-on acquisition for Local Crafts Group, with previous acquisitions including Superior Threads, Quilt Pro Systems, Crafts Americana Group, and Berroco.
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SK Capital Hires John Novak to Lead Business Development
- SK Capital Partners has appointed John Novak as a managing director and head of business development.
- Mr. Novak brings over 20 years of experience in private equity and investment banking.
- In his new role, he will work with SK's investment teams to identify and execute new transaction opportunities.
- SK Capital Partners has a portfolio that generates over $14 billion in annual revenue and employs more than 25,000 people worldwide.
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Funded
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Image Credit: Funded
Adapting to the AI Business Revolution
- Artificial intelligence (AI) is reshaping industries, transforming businesses, and redefining workflows.
- Key areas where AI is transforming business include automation of repetitive tasks, enhanced decision-making, personalized customer experiences, predictive capabilities, and innovation.
- Challenges of adapting to AI include skill gaps, data readiness, cultural resistance, and ethical and privacy concerns.
- To adapt to the AI revolution, businesses should start small and scale smart, invest in people and culture, and embrace agile thinking.
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Guardian
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‘It might be gutted’ – Boots braces for dose of private equity’s bitter medicine
- US private equity firm Sycamore Partners is close to finalizing a $10bn deal to take over Walgreens Boots Alliance, the listed US owner of Boots.
- Experts speculate that Sycamore might sell off assets, potentially including entire aspects of Boots, such as stores, property, or brands.
- With concerns about changes in ownership, fears arise about store closures, cost-cutting, and diminishing staff at Boots, which employs about 51,000 people.
- Boots, a Nottingham-based chemist, has changed hands multiple times in the past two decades, facing unsuccessful sale attempts and ownership transitions.
- Residents in Beeston express worries about the impact of ownership changes on the town, with anxieties about potential store closures and staff reductions.
- Boots workers are concerned about the motivation of private equity firms focused on profit rather than the well-being of the business and its community.
- Speculations arise regarding the future of Boots' properties, potential divestments, and the impact on local businesses dependent on Boots' operations.
- There are concerns about potential store closures at Boots as a strategy to navigate the challenging retail environment, including competition from online and discount retailers.
- Survey results indicate that a significant portion of Boots staff fear job insecurity and worsening conditions in the event of a takeover, amidst uncertainties in the high street retail landscape.
- Boots faces challenges balancing government contracts, pharmacy services costs, and maintenance issues in stores, alongside an aging UK population's changing healthcare needs.
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Funded
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Leading from the Top: The CEO’s Power Playbook
- Setting the Vision and Strategy: A CEO's vital responsibility is to craft and communicate the company's long-term vision and strategic goals, aligning all departments and employees.
- Building and Leading the Executive Team: CEOs curate a strong leadership team by recruiting top talent, mentoring leaders, and fostering a culture of accountability.
- Driving Company Culture and Values: CEOs define and nurture a strong, values-driven organizational culture, which influences hiring decisions, performance expectations, and customer interactions.
- Making High-Stakes Decisions: CEOs make critical decisions by weighing risks and rewards carefully, relying on experience, intuition, and data.
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Funded
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SlashExperts Funded $2M to Enhance B2B Marketing and Sales Platform
- SlashExperts, a San Francisco, CA-based developer of a customer engagement platform, has secured $2 million in funding.
- The platform aims to convert sales backchannels and customer references into scalable revenue opportunities.
- The funding led by Social Leverage will be used to enhance the platform's features and ensure connections between buyers and users.
- The company's vision is to close the trust gap in B2B buying decisions by amplifying the voices of actual users.
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Monogram Teams with Halmos on Vasco Buy
- Monogram Capital Partners and Halmos Capital Partners have acquired a majority interest in The Vasco Group, a sports surfaces company.
- Vasco is Monogram’s second platform investment for its third fund.
- Vasco Group offers sports surfacing services including construction, resurfacing, and maintenance of athletic fields and courts.
- The acquisition aims to bring Vasco’s sports service practice to new markets across the country.
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Peprofessional
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Brown Gibbons Lang Adds Consumer Veteran
- Brown Gibbons Lang & Company has added Michael Doyle as a managing director in its consumer investment banking group.
- Mr. Doyle brings 15 years of experience, previously working at William Blair as a managing director and partner.
- His expertise in the consumer sector will contribute to the expansion of BGL's consumer investment banking team.
- BGL is a mid-market investment bank with offices in Boston, Chicago, Cleveland, Los Angeles, and New York.
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Kept No More: ACON Sells Kept Companies to DFW
- ACON Investments has sold Kept Companies to DFW Capital Partners.
- Kept Companies is a provider of commercial and industrial cleaning services across the US.
- Under ACON's ownership, Kept underwent a rebranding and expanded through acquisitions.
- ACON Investments is a US-based middle-market private equity firm.
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Peprofessional
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Lockmasters Enters RF Shielding Sector with Latest Acquisition
- Lockmasters, a portfolio company of Dominus Capital, has acquired Astic Signals Defenses.
- Lockmasters is a manufacturer and distributor of combination locks, tools, hardware, and educational services to government and security professionals.
- Astic Signals Defenses provides radio frequency (RF) and infrared (IR) shielding products for secure government and commercial sites.
- The acquisition aims to expand Lockmasters' reach in the security market and provide high-security solutions to meet evolving threats.
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Teten
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Template General Partner Entity Agreement for Your New Private Equity or VC Fund
- This article provides a template General Partner Entity agreement for new private equity or VC fund managers.
- The agreement serves as a checklist for aspiring fund managers and can be downloaded for reference.
- The article is part of a series on structuring the team and legal infrastructure of a new fund.
- Readers are encouraged to sign up for the author's newsletter if they found the information helpful.
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Peprofessional
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LongueVue Capital Invests in Daedalus Industrial to Accelerate Growth in Data Center and Industrial Automation Sectors
- LongueVue Capital has invested in Daedalus Industrial, a provider of building management and control systems.
- Daedalus Industrial offers engineering, automation, and electrical contracting services tailored to data centers and industrial operations.
- The investment will support Daedalus Industrial in expanding its capabilities and service portfolio.
- The transaction was backed by Abacus Finance, an asset management firm specializing in private credit solutions.
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Peprofessional
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Soundcore Sells InfraStripe to Bain’s Frontline
- Soundcore Capital Partners has sold InfraStripe, a roadway safety contractor, to Frontline Road Safety.
- InfraStripe provides services such as paint- and thermoplastic-striping for highways and runways, guardrail installation, and signage installation.
- Frontline Road Safety, a portfolio company of Bain Capital, is the largest provider of pavement marking services in the United States.
- With this acquisition, Frontline aims to strengthen its capabilities in traffic control and safety signage and expand its presence in regional markets.
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Peprofessional
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GEM Closes Independent Sponsor Fund
- GEM closes GEM IS Fund LP (Fund IS), their inaugural fund dedicated to independent sponsors, with $450 million of capital commitments.
- The fund exceeded its original target of $400 million and received overwhelming support from limited partners, including endowments, foundations, insurance companies, healthcare institutions, and family offices.
- GEM, a global asset management firm headquartered in Charlotte, North Carolina, provides customized portfolio management and advisory services, with approximately $12 billion in assets under management.
- The fund aims to support independent sponsors by providing them with the necessary capital to execute on compelling investment opportunities in the lower middle market.
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Funded
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Smart Moves: Why Every Entrepreneur Needs an Exit Plan
- Having an exit plan is important for entrepreneurs to ensure a smooth transition and maximize the value of their business.
- An exit strategy prepares entrepreneurs for retirement, pursuing new ventures, or responding to unforeseen circumstances.
- Clear exit plans make businesses more attractive to investors and buyers, increasing their valuation.
- Exit strategies minimize disruptions, ensure continuity, and allow entrepreneurs to protect their business legacy.
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