 | Tue. Dec. 13, 2011 Thomas H. Lee said to be in lead for Glaxo consumer assets
Thomas H. Lee Partners LP, a Boston-based private equity firm, is in the lead to buy consumer-health assets from GlaxoSmithKline Plc and may announce a deal as soon as this week, said two people with knowledge of the matter. THL is close to entering exclusive talks with Glaxo, said the people, who declined to be identified as the matter is private. The companies have yet to agree on price and may not reach a deal, the people said. Hydroid AUV discovers underwater helicopter wreckage off Norwegian island
Hydroid Inc., a Bourne-based manufacturer of autonomous underwater vehicles, or AUVs, said that one of its AUVs has discovered the wreckage from a 2003 helicopter crash in icy waters near Svalbard, a group of Norwegian islands in the Arctic Ocean. The helicopter’s crew escaped alive, but the wreck had not been seen since it sank, said Hydroid, a subsidiary of Norway-based Kongsberg Maritime and the maker of REMUS AUVs. Lawsuit filed against Bain Capital in Samsonite dispute
A class-action lawsuit has been filed against Bain Capital, alleging fraud and unfair practices in the sale and subsequent bankruptcy of a Samsonite luggage factory in France. The lawsuit, filed in federal court in Boston, alleges that Bain Capital’s sale of the factory circumvented French labor laws. Bain Capital is a Boston-based private equity firm. Bain and a group of investors sold Samsonite to CVC Capital partners in 2007 for $1.7 billion, four years after buying the troubled company. Copley tower developer agrees to build all affordable units on-site
The developer of a 47-story residential tower at Copley Place will dramatically increase the number of affordable units in the building following a long and at times contentious negotiation with neighbors and Boston regulators, according to a letter released by the city today. Papa Gino’s taps Allen & Gerritsen as ad agency of record
Watertown ad agency Allen & Gerritsen has been selected to be the advertising agency of record for Papa Gino’s Inc., a Dedham company that operates a namesake pizza chain as well as the D’Angelo Grilled Sandwiches chain. Billings are not being disclosed. Allen & Gerritsen was awarded the Papa Gino’s account without a formal agency review. Allen & Gerritsen plans to build and expand brand and product awareness, boost the company’s digital presence, and build a strong social media community around both Papa Gino’s and D’Angelo. Macy’s at South Shore Plaza to have 2 a.m. closings in days leading up to Christmas
Macy’s, the department store chain, said it is offering extended hours at some of its stores, including its store at South Shore Plaza in Braintree, in the days leading up to Christmas. When the Macy’s at South Shore Plaza opens on Wednesday Dec. 21, plans call for it to remain open until 2 a.m., and it will have a 2 a.m. closing time the next two days as well. Macy’s stores with extended hours are scheduled to close at 6 p.m. on Saturday, Christmas Eve. Catabasis raises an additional $8m
Catabasis Pharmaceuticals, a Cambridge-based biopharmaceutical company, said today that it has received an additional $8 million in Series A financing, bringing the total amount raised to $47.6 million. All current investors participated in the financing. Investors include SV Life Sciences, Clarus Ventures, MedImmune Ventures and Advanced Technology Ventures. Catabasis looks to leverage the therapeutic potential of omega-3 fatty acids and other clinically validated compounds to create new medicines for the treatment of inflammatory and metabolic diseases. 138 Massachusetts companies receive $11.4 million in workforce training grants
Nearly 140 Massachusetts companies have been awarded $11.4 million in grants from the state’s Workforce Training Fund this year, the Patrick administration announced. Employers estimate that the grants will create 1,700 new jobs and train 13,000 workers in areas ranging from robotics to customer service to injection molding. Cape Cod film maker Daniel Adams indicted on 10 counts of making false claims, larceny
A Cape Cod film maker was indicted on 10 counts of making false claims and larceny, after receiving $4.7 million in tax credits from the state, according to the attorney general’s office. A Suffolk County Grand Jury returned the indictments. Daniel Adams, 50, was arrested last week on charges he defrauded Massachusetts taxpayers. He pleaded not guilty last Friday and is being held on $100,000 cash bail. He is scheduled to appear in Suffolk Superior Court on Tuesday morning. Progressive pays $125,000 to settle charges it violated state auto insurance rules
Progressive Direct Insurance Co., one of the country’s largest auto insurers, has agreed to a $125,000 settlement with state regulators for violating Massachusetts auto insurance regulations. The company told about 3,200 consumers from Massachusetts that their credit information was used to calculate their auto insurance rates, even though state regulations bar insurers from doing so. WBZ-TV unveils new look
WBZ-TV unveils a new news set, graphics, and music as a rebranding of the station. The station, which ranks second or third in newscast ratings, hasn’t had such a major facelift in a decade. WBZ-TV Channel 4 is unveiling a new news set and graphics look today during its 5 p.m. newscast today. The station’s sunny yellow and blue hues are now amber and blue and it’s using the familiar corporate CBS eye logo for its graphic packages and logos. |
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