Follow the Money: Satori Invests in Grapevine Company, Dynata Makes Acquisition

You’ll also find news about Bios Partners, Essentium, Discovery Midstream Partners, Cypress Growth Capital, FoodMaven, Tenet Healthcare, Integrity Marketing, and Salesforce in this roundup of investment, merger, and acquisition activity involving businesses with North Texas ties.

funding

What companies are finding funding or having a big exit? From startup investments to grants to acquisitions, Dallas Innovates tracks what’s happening in North Texas money every Thursday. Sign up for our e-newsletter to stay in the loop.

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Satori invests in Grapevine-based machinery moving, rigging company

Dallas-based private equity firm Satori Capital said recently that it had invested in Grapevine-based Able Machinery Movers Inc., a heavy machinery moving and rigging company.

Able serves customers in a variety of sectors, PE Hub reported, including manufacturing, medical, semiconducotr, and food and beverage.  The amount of the investment was not disclosed.

Able was founded more than 60 years ago and its customer list includes Bell Helicopter, General Electric, TDIndustries, Tetra Pak, and Texas Instruments.

Bios Partners invests $750K in Seattle cell therapy researcher

Bios Partners, the Fort Worth venture capital, has joined a $20 million investment round supporting Immusoft, a Seattle-based cell therapy researcher.

According to the Dallas Business Journal, Immusoft is working on methods to modify immune cells that the body uses to fight disease, and specifically targeting a rare disorder called Mucopolysaccharidosis type I, caused by a lack of certain enzymes used to to break down sugar chains.

The DBJ said that Bios Partners raised $750,000 to invest in Immusoft.

Startup get $22.2M to bring 3D printing to Dallas, other cities

Essentium Inc., a College Station startup, will receive $22.2 million in funding to bring its 3D printing technology to Dallas, Austin, Houston, and other cities, according to reports.

Funding came from BASF Venture Capital, Materialise, and the private equity firm Genesis Park. and it will be used to scale manufacturing, engineering, sales, and marketing operations for its high-speed extrusion platform, according to the Dallas Morning News.

Discovery Midstream Partners gets $1B in private equity funding

Dallas-based Discovery Midstream Partners has received $1 billion in private equity funding from New York private equity firm Stonepeak Infrastructure Partners for the launch of Discovery Midstream Holding II LLC.

The money will be used to develop Discovery’s second round of oil and natural gas infrastructure projects in North America, according to a report in the Houston Chronicle.

Cypress Growth Capital invests $2.5M in Colorado firm

Dallas-based Cypress Growth Capital has invested $2.5 million in MG Stover & Co., a Denver-based full-service fund accounting and administration firm.

In a LinkedIn post, Partner Vik Thapar said it’s the 12 investment for Cypress Growth Capital in the Colorado market.

Cypress said that MG Stover was built by former auditors and fund operators and that the firm supports a variety of clients including large hedge funds, private equity, venture capital, real estate, and cryptocurrency funds.

FoodMaven gains more financing in $10M funding round

Colorado-based FoodMaven, which announced last year that was expanding to Dallas, said Thursday that it has closed additional financing in its $10 million funding round — Tao Capital Partners and from members of the Walton family.

In October, FoodMaven said it would be entering the Dallas market in early 2019. Its  mission is to allocate food that would otherwise be thrown away due to issues such as oversupply, imperfections, or local access to restaurants. 

Tenet Healthcare intends to refinance $768M of outstanding notes

Dallas-based Tenet Healthcare Corp. said it plans to refinance $768 million of its outstanding notes by offering to sell $750 million on newly issued note via a private placement, according to a Tenet news release.

According to the release, the offering consists of $750 million in aggregate principal amount of newly issued senior secured line notes due 2027.

After payment of fees and expenses, Tenet said it intends to use the proceeds to fund redemption and discharge of all $300 million outstanding aggregate principal amound of its 6.75 percent senior unsecured notes due Feb. 1, 2020.

MERGERS & ACQUISITIONS

Plano-based Dynata acquires Reimagine Holding Group 

Dynata, the Plano-based provider of first-party data and data services, said it has reached an agreement to buy Reimagine Holdings Group, a Connecticut-based provider of data creation and technology-enabled intellgence.

The deal is expected to closed in the first quarter of this year, the companies said in a release. No financial terms of the deal were released.

According to a news release, Reimagine Holdings is composed of several business units such as Critical Mix, a provider of online survey and digital data, MarketSight, a cloud-based SaaS data analytics and visualizaiton platform, and PopResearch, an automated brand and communications market research platform.

Integrity Marketing buys North Carolina-based Medicare products distributor

Integrity Marketing Group LLC, a Dallas-based independent distributor of life and health insurance products, has acquired Raleight, North Carolina-based Tidewater Management Group.

No financial terms of the deal were released.

Tidewater is a distributor of Medicare Supplement and Medicare Advantage products in the southeastern United States. Tidewater founder Todd Fincher becomes an owner in Integrity as part of the deal.

Saleforce acquires roundCorner to further nonprofit social enterprise

Salesforce.org, a San Francisco-based nonprofit social enterprise that recently signed a large office lease at The Union in Dallas, has acquired roundCorner, which specializes in enterprise CRM solutions for nonprofits and other impact sectors, according to a release.

roundCorner offers technology solutions for enterprise nonprofit organizations, higher education institutions, and foundations to become constituent-centric with products such as NGO Connect, Advancement Connect and Foundation Connect. It is the Salesforce.org Platinum App Partner for the nonprofit market in North America.

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