Follow the Money: Traxo Raises $499K, HM Dunn Nets $35M, Primoris Acquires Willbros

From travel technology to aerospace and infrastructure, here's a look at recent funding, mergers, and acquisitions involving companies and firms with North Texas ties.

Follow the money jehita iStock photo

TRAXO RAISES $499K IN EQUITY FUNDING ROUND

Dallas-based Traxo Inc. raised $499,995 of a $2.7 million equity funding round, the company reported in a filing with the U.S. Securities and Exchange Commission.

Traxo founder and CEO Andres Fabris told Dallas Innovates via email that the funding “will be used for product development, sales and marketing, and international expansion.”

Traxo, which specializes in data aggregation and tracking passenger loyalty and behavior, reported in April that it had completed an $810,735 funding round. Earlier this year, the startup raised $725,510 in new equity funding, and in 2016, it reported a $5.2 million Series B funding round led by TripAdvisor.

Traxo’s clients include the German airline Lufthansa and other travel companies. Skift, the largest industry intelligence platform, recently named Traxo to its 2018 Corporate Travel Innovators List.

HM DUNN RAISES $35M IN EQUITY ROUND

Euless-based aerospace engineering and manufacturing company HM Dunn AeroSystems raised more than $35 million in an equity investment round, the company said in a filing with the SEC.

The total raised was $35,187,500, according to the filing, which did not mention for what the funding would be used.

HM Dunn operates more than 300,000 square feet of space in Dallas-Fort Worth and has facilities in St. Louis, Missouri and Wichita, Kansas. It has a long list of clients that include Bell, Lockheed Martin, and others.

VIZIV TECHNOLOGIES RAISES $500K IN EQUITY FUNDING

Waxahachie-based Viziv Technologies raised $500,000 in an equity funding round, the company announced in a new filing with the SEC.

In May, Viziv filed a Form D announcing it had raised $500,000 in an equity financing offer.

Viziv, formerly known as Texzon Technologies, is a pioneer in the field of electromagnetic wave propogation, power storage, and electricity distribution via wireless power systems. It proposes utilizing an electromagnetic phenomena known as the Zenneck surface wave, which is long theorized but as yet undemonstrated — to distribute electric power around the world.

In April, the company announced that it had raised $720,000 of a $15 million offering, and in January, it announced that it had finished a VC funding round in December, raising $641,562. Since 2016, Viziv has raised more than $26 million in venture funding in multiple rounds, including a $12.52 million round in November 2017.

LECLANCHE SECURES ADDITIONAL FUNDING FROM LARGEST SHAREHOLDER

Switzerland-based Leclanché SA, a leading global energy storage solution company whose North American subsidiary is headquartered in Dallas, announced that it has secured new additional funding from its largest shareholder, FEFAM.

In addition to the 75 million Swiss francs (roughly $75.9 million) committed in corporate funding, Leclanché said that FEFAM has agreed to provide a conditional 50 million Swiss francs (roughly $50.6 million) funding facility for acquisitions and joint ventures.

“This additional funding will allow us to capitalise on the exciting opportunities we see in the fast-growing markets of stationary grid-based storage and e-Transport worldwide.”

Anil Srivastava

“This substantial investment fully funds our business plan through to 2020 when we expect to be EBITDA positive. We thank FEFAM for their continued strong investment support,” Anil Srivastava, CEO of Leclanché, said in a release. “This additional funding will allow us to capitalise on the exciting opportunities we see in the fast-growing markets of stationary grid-based storage and e-Transport worldwide.”

Leclanché also confirmed that it has signed a nonbinding term sheet with a potential strategic investor to increase its overall corporate funding to between 100 million Swiss francs (about $101.3 million) and 125 million Swiss francs ($126.6 million). Negotiations should be completed, and a final agreement executed by fourth quarter of 2018, according to Leclanché.

MERGERS & ACQUISITIONS

DALLAS INFRASTRUCTURE COMPANY BUYS HOUSTON COMPETITOR

Dallas-based infrastructure company Primoris Services Corp. announced Monday that it has completed the acquistion of Houston-based specialty energy infrastructure company Willbros Group Inc. in a deal that was valued at $100 million when it was initially announced in March.

The Houston Business Journal reported that Primoris said it will acquire Willbros for 60 cents per share in cash and will also settle all existing debt obligations of Willbros, which has faced variious financial struggles in recent years.

INTEGRITY MARKETING BUYS AGENT SERVICE CONNECTION

Dallas-based Integrity Marketing Group LLC announced that it has entered into a definitive agreement to acquire Agent Service Connection Inc., a leading final expense insurance distributor.

Financial terms of the deal were not released. Integrity said that as part of the deal, Agent Service Connection’s founder and President Alan Town becomes an owner in Integrity.

Sarasota, Florida-based Agent Service Connection has more than 19,000 appointed agents nationwide, and it has helped more than 300,000 people plan for their final expense insurance needs.

The combined business will the nation’s largest independent final expense marketing organization with nearly $175 million of annualized premiums in final expense-related products, according to Integrity.

EB ARROW ACQUIRES DALLAS-BASED CAPVIEW PARTNERS

EB Arrow announced that it has acquired Capview Partners LLC, a Dallas-based real estate investment and fund management firm that specializes in net lease retail properties.

“The acquisition of Capview Partners compliments our overall offerings and adds additional expertise to our platform.” 

Todd Minnis

Dallas-based EB Arrow said that it expects the deal will provide specialized expertise to its plafform. 

“The acquisition of Capview Partners compliments our overall offerings and adds additional expertise to our platform,” EB Arrow CEO Todd Minnis said in a release. “With the reshaping of the retail landscape, our combined team has more breadth to uncover opportunities and create value for our customers.

EB Arrow grew out of an investment from EBA Investments Ltd., a subsidiary of China Everbright Ltd. EB Arrow and its affiliates have invested in more than 15 retail and mixed-use projects and manage roughly $1.5 billion in assets.

LIFECARE HOLDINGS BUYS 2 HOME HEALTH PROVIDERS

Plano-based LifeCare Holdings LCC announced that it has acquired Care First Home Health Care and EverCare Health Services, a pair of Las Vegas, Nevada-based home health care businesses.

No details of the transaction were released.

Get on the list.
Dallas Innovates, every day. 

Sign up to keep your eye on what’s new and next in Dallas-Fort Worth, every day.

One quick signup, and you’re done.   
View previous emails.

Related Posts

Comments are closed.