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Follow the Money
News on capital raises, mergers and acquisitions, private equity, and grant funding across Dallas-Fort Worth. From early-stage funding to public exits, here’s a look at deals making business news in the region.
Photo: bancha singchai/iStock
Dallas HVAC Company Gets Majority Investment from New York-Based Firm
by Lance Murray | Apr 11, 2023
Investcorp, a global alternative investment firm, partners with growing founder-led businesses. The investor aims to join forces with Shearer Supply to capitalize on "strong secular tailwinds" in the HVAC industry and leverage the distributor's one-stop-shop value proposition for contractors and OEMs.
by Lance Murray |
Apr 11, 2023
The investment from Cobalt Ventures follows MedArrive's $25 million series A round in November 2021 and brings its total funding to $40.5 million to date. "Everyone in America has a right to inclusive, high-quality care, yet too many are left out and have no one on their side who can connect them to the system," MedArrive Co-Founder and CEO Dan Trigub said. "That's what the MedArrive platform and our field providers offer."
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by Lance Murray |
Apr 11, 2023
The Coppell-based startup said it will use the proceeds to advance and scale its Digital Medical Home, which includes diagnostic-enabled Virtual Primary Care and Virtual Behavioral Health Solutions tailored to fit the healthcare needs of any population. Recuro integrates advanced science, data, at-home diagnostics, and targeted genomics for cancer screening and pharmacogenomics "to better inform integrated care," the company says.
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by Dallas Innovates | Staff Report |
Apr 7, 2023
Ribbon Communications CFO Mick Lopez cites favorable interest rate outlook for the timing of the private placement financing and fixed-rate swap to reduce debt.
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A DataBank data center near Legacy Park in Plano. [Photo: DataBank]
DataBank Secures Another $325M in Financing to Expand Edge Data Center Footprint
by Lance Murray | Apr 5, 2023
DataBank, a Dallas-based provider of enterprise-class edge colocation, interconnection, and managed cloud services, has secured another $325 million in financing to fund the ongoing expansion of its edge data center footprint.
Led by TD Securities, the $325 million credit facility includes a $175 million five-year term loan, a $125 million delayed draw term loan that is undrawn at close, and a $50 million revolving credit line....
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by Lance Murray |
Apr 5, 2023
TPG, which is based in Fort Worth and San Francisco, has agreed to acquire a majority stake in Elite to accelerate the growth and expansion of its legal tech solutions.
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by Lance Murray |
Apr 4, 2023
Buxton, a Fort Worth-based retail customer analytics provider, announced a strategic growth investment led by PSG, a growth equity firm partnering with software and technology-enabled services companies to help accelerate their growth....
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by Lance Murray |
Mar 30, 2023
Phase 3 Marketing and Communications of Atlanta has acquired Dallas-based digital printing company Technology Media Group Inc (TMG).
Phase 3 Marketing and Communications is an integrated marketing services company that also has offices in Dallas, the New York City metropolitan area, Nashville, and Charlotte. No financial details were released.
TMG’s capabilities will strengthen Phase 3’s fabrication, embroidery, and branded merchandise product offerings, the company said....
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Signify Health CEO Kyle Armbrester. [Image: video screenshot]
Done Deal: CVS Completes $8B Acquisition of Dallas’ Signify Health
by Lance Murray | Mar 29, 2023
The proposed acquisition was announced in September, with CVS Health beating out other big-name suitors in a bidding war last summer. “This transaction advances our value-based care strategy by enhancing our presence in the home,” CVS Health President and CEO Karen S. Lynch said. Reuters reported that the deal's closing was delayed by a Department of Justice review over antitrust concerns.
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by Lance Murray |
Mar 28, 2023
Energy Transfer LP, a Dallas-based midstream energy company, will acquire Lotus Midstream Operations LLC, based in Sugar Land, for $1.45 billion in a deal that includes $900 million in cash and approximately 44.5 million newly issued Energy Transfer common units. The acquisition will add Centurion Pipeline Company LLC, an integrated, crude midstream platform in the Permian Basin, to Energy Transfer's portfolio.
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by Dallas Innovates | Staff Report |
Mar 28, 2023
UT Southwestern says the funding award is a significant step towards improving postpartum health outcomes for low-income women of color. The study aims to determine the best way to use technology to improve access to maternal health care and decrease complications after birth.
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by Lance Murray |
Mar 22, 2023
Ranger Investment Management LP, a Dallas employee-owned boutique investment manager specializing in small- and micro-cap U.S. growth strategies, has been selected by Spanish wealth advisory firm Orienta Capital to manage a micro-cap growth portfolio within its new Acimut North American Managers FI Fund.
Ranger Investments is one of four U.S. asset managers awarded mandates from Orienta Capital after company officials researched and visited more than 200 investment boutiques specializing in U.S....
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Element8 [Image: Element8]
Fort Worth Next-Gen ISP Element8 Gets $200M Investment for U.S. Expansion
by Lance Murray | Mar 16, 2023
Fort Worth-based next-gen internet service provider Element8 has acquired Oklahoma-based high-speed internet provider Atlink Services for an undisclosed amount.
The move comes after E8 secured a $200 million strategic investment from Digital Alpha, an investment firm focused on digital infrastructure.
“We are absolutely thrilled to have the support and confidence of the Digital Alpha team behind us,” E8 President and CEO Kevin Grace said in a statement....
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by Lance Murray |
Mar 15, 2023
Dallas-based growth-oriented private equity firm Trinity Hunt Partners announced a majority investment in Supreme Optimization, a digital marketing agency focused exclusively on life sciences.
No financial details were released....
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by Lance Murray |
Mar 13, 2023
“Our researchers continue to push the envelope on developing a better understanding of cancer and new ways to help cancer patients in Texas and beyond,” said Center Director Carlos L. Arteaga, M.D.
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by Lance Murray |
Mar 13, 2023
The electric Central Utilities Plant will run on 100% renewable electricity, aiding DFW AIrport in its goal to be carbon net zero by 2030. Energy enhancements to Terminal D will include smart glass, sensors, high-efficiency HVAC, eco-friendly roofing, and passenger boarding bridges with advanced controls for use in DFW’s digital twin program.
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