<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="NEW YORK, April 7, 2020 /PRNewswire/ — ICV Partners, LLC, a leading investment firm focused on lower middle market companies, announced today it has made a significant investment in Mintz Group, a global leader in investigative and enterprise risk management services. ICV acquired an equity stake from funds managed by WestView Capital Partners, as well as from Mintz Group management.” data-reactid=”12″>NEW YORK, April 7, 2020 /PRNewswire/ — ICV Partners, LLC, a leading investment firm focused on lower middle market companies, announced today it has made a significant investment in Mintz Group, a global leader in investigative and enterprise risk management services. ICV acquired an equity stake from funds managed by WestView Capital Partners, as well as from Mintz Group management.
<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Founded by Jim Mintz in 1994 and headquartered in New York, Mintz Group conducts investigations and background checks for its clients before they form new relationships, during disputes, and after allegations. Mintz Group has developed an industry-leading reputation for pre-hire and pre-transaction background checking and investigation services that support complex litigation cases, private and public equity investment transactions, supply-chain and other cross-border diligence.” data-reactid=”13″>Founded by Jim Mintz in 1994 and headquartered in New York, Mintz Group conducts investigations and background checks for its clients before they form new relationships, during disputes, and after allegations. Mintz Group has developed an industry-leading reputation for pre-hire and pre-transaction background checking and investigation services that support complex litigation cases, private and public equity investment transactions, supply-chain and other cross-border diligence.
<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Mintz Group founder Jim Mintz said, "We are in the business of finding facts that help our clients mitigate risk. And this is certainly a time of unprecedented risk for many of our clients across the globe. This partnership will allow us to continue to expand the company’s capabilities and service offerings to help clients grapple with increased risk — today and tomorrow."” data-reactid=”14″>Mintz Group founder Jim Mintz said, “We are in the business of finding facts that help our clients mitigate risk. And this is certainly a time of unprecedented risk for many of our clients across the globe. This partnership will allow us to continue to expand the company’s capabilities and service offerings to help clients grapple with increased risk — today and tomorrow.”
<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content=""ICV's investment in Mintz Group continues our track record of partnering with high-quality companies that help their clients avoid risks," ICV Managing Director Lloyd Metz said. "The Mintz Group team has built a world-renowned firm, and we are excited to help them grow and build scale in their various markets. We were able to close our investment during this unprecedented market volatility because of our confidence in the Mintz Group team and their franchise."” data-reactid=”15″>”ICV’s investment in Mintz Group continues our track record of partnering with high-quality companies that help their clients avoid risks,” ICV Managing Director Lloyd Metz said. “The Mintz Group team has built a world-renowned firm, and we are excited to help them grow and build scale in their various markets. We were able to close our investment during this unprecedented market volatility because of our confidence in the Mintz Group team and their franchise.”
<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Mr. Mintz, said, "We are excited to partner with ICV in this next phase of the firm's growth. We are committed to realizing a dream to provide clients in every corner of the globe with the fact-gathering services they need as they face exposure to any regulatory, compliance or reputational risk. We have made many important improvements at the firm during our partnership with WestView, and I would like to thank them for all of their help and valuable advice." Mr. Mintz continued, "We believe that our global presence and years of experience will be increasingly valuable to our current and future clients as they look to understand the long tail risks in their businesses."” data-reactid=”16″>Mr. Mintz, said, “We are excited to partner with ICV in this next phase of the firm’s growth. We are committed to realizing a dream to provide clients in every corner of the globe with the fact-gathering services they need as they face exposure to any regulatory, compliance or reputational risk. We have made many important improvements at the firm during our partnership with WestView, and I would like to thank them for all of their help and valuable advice.” Mr. Mintz continued, “We believe that our global presence and years of experience will be increasingly valuable to our current and future clients as they look to understand the long tail risks in their businesses.”
<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Chief Executive Officer Tim Whipple said, "In today’s global economy, risk is pressing on the minds of board chairs, CEOs, general counsels, compliance officers, and talent managers. We have a compelling story to tell and know that we can help companies avoid and mitigate the increasing costs of reputational risk." Mr. Whipple continued, "The current pandemic crisis underlines the importance to business leaders everywhere of receiving risk-relevant, up-to-date information and insights about potential risks coming at them. This is what Mintz Group does, in every corner of the world."” data-reactid=”17″>Chief Executive Officer Tim Whipple said, “In today’s global economy, risk is pressing on the minds of board chairs, CEOs, general counsels, compliance officers, and talent managers. We have a compelling story to tell and know that we can help companies avoid and mitigate the increasing costs of reputational risk.” Mr. Whipple continued, “The current pandemic crisis underlines the importance to business leaders everywhere of receiving risk-relevant, up-to-date information and insights about potential risks coming at them. This is what Mintz Group does, in every corner of the world.”
<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Zeena Rao, Managing Director of ICV, added, "ICV has successfully invested in professional service partnerships very similar to Mintz Group. We understand the dynamics and aspirations of working with entrepreneur founders, their unique capabilities and laser focus on serving their clients. There are complementary firms in this industry, and we expect to make strategic acquisitions that broaden our reach and capabilities so Mintz can continue to provide best in class service to clients."” data-reactid=”18″>Zeena Rao, Managing Director of ICV, added, “ICV has successfully invested in professional service partnerships very similar to Mintz Group. We understand the dynamics and aspirations of working with entrepreneur founders, their unique capabilities and laser focus on serving their clients. There are complementary firms in this industry, and we expect to make strategic acquisitions that broaden our reach and capabilities so Mintz can continue to provide best in class service to clients.”
The Mintz investment is the latest in ICV’s focus on leading, niche business services companies. Previous investments include Horizon Air Freight, Leading Response, Public Financial Management and Cargo Airport Services.
Covington & Burling served as legal counsel to ICV, and BDO provided accounting and tax diligence. Lazard and GLC Advisors served as financial advisors to Mintz Group and Latham & Watkins and Hogan Lovells provided legal counsel. BMO Sponsor Finance and Benefit Street Partners provided debt financing for the acquisition.
<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="About Mintz Group Founded in 1994, Mintz Group provides investigative and fact gathering services that range from enhanced background checks for senior executive hires, to due diligence on parties in proxy fights, to supporting complex litigation cases. Mintz Group investigators conduct thousands of matters each year, giving their clients the facts they need to make sound business decisions. Headquartered in New York City, Mintz Group has 15 offices across eight time zones: New York, San Francisco, Washington, D.C., Chicago, Miami, London, Toronto, Montreal, Sao Paolo, Dubai, Nairobi, Hong Kong, Beijing, Singapore and Mumbai. The Mintz team speaks more than 30 languages and has successfully conducted investigations in more than 100 countries. The Company leverages its global network of investigators to dig deeply to get the facts that will stand up in any court or boardroom. To learn more, please visit www.Mintzgroup.com.” data-reactid=”21″>About Mintz Group Founded in 1994, Mintz Group provides investigative and fact gathering services that range from enhanced background checks for senior executive hires, to due diligence on parties in proxy fights, to supporting complex litigation cases. Mintz Group investigators conduct thousands of matters each year, giving their clients the facts they need to make sound business decisions. Headquartered in New York City, Mintz Group has 15 offices across eight time zones: New York, San Francisco, Washington, D.C., Chicago, Miami, London, Toronto, Montreal, Sao Paolo, Dubai, Nairobi, Hong Kong, Beijing, Singapore and Mumbai. The Mintz team speaks more than 30 languages and has successfully conducted investigations in more than 100 countries. The Company leverages its global network of investigators to dig deeply to get the facts that will stand up in any court or boardroom. To learn more, please visit www.Mintzgroup.com.
<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="About ICV Partners Founded in 1998, ICV Partners is a leading private investment firm that supports management leaders of strong lower middle market companies in pursuing growth. Over its first four funds, the principals of ICV have crafted a strong track record of helping companies expand their footprint and improve performance over the long term and across a variety of industries. Additional information is available at www.icvpartners.com.” data-reactid=”26″>About ICV Partners Founded in 1998, ICV Partners is a leading private investment firm that supports management leaders of strong lower middle market companies in pursuing growth. Over its first four funds, the principals of ICV have crafted a strong track record of helping companies expand their footprint and improve performance over the long term and across a variety of industries. Additional information is available at www.icvpartners.com.
<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Contact: Chris Tofalli Chris Tofalli Public Relations 914-834-4334″ data-reactid=”27″>Contact: Chris Tofalli Chris Tofalli Public Relations 914-834-4334
NEW YORK (AP) — Shares of Tesla soared Wednesday as investors bet that the electric vehicle maker and its CEO Elon Musk will benefit from Donald Trump’s return to the White House.
Tesla stands to make significant gains under a Trump administration with the threat of diminished subsidies for alternative energy and electric vehicles doing the most harm to smaller competitors. Trump’s plans for extensive tariffs on Chinese imports make it less likely that Chinese EVs will be sold in bulk in the U.S. anytime soon.
“Tesla has the scale and scope that is unmatched,” said Wedbush analyst Dan Ives, in a note to investors. “This dynamic could give Musk and Tesla a clear competitive advantage in a non-EV subsidy environment, coupled by likely higher China tariffs that would continue to push away cheaper Chinese EV players.”
Tesla shares jumped 14.8% Wednesday while shares of rival electric vehicle makers tumbled. Nio, based in Shanghai, fell 5.3%. Shares of electric truck maker Rivian dropped 8.3% and Lucid Group fell 5.3%.
Tesla dominates sales of electric vehicles in the U.S, with 48.9% in market share through the middle of 2024, according to the U.S. Energy Information Administration.
Subsidies for clean energy are part of the Inflation Reduction Act, signed into law by President Joe Biden in 2022. It included tax credits for manufacturing, along with tax credits for consumers of electric vehicles.
Musk was one of Trump’s biggest donors, spending at least $119 million mobilizing Trump’s supporters to back the Republican nominee. He also pledged to give away $1 million a day to voters signing a petition for his political action committee.
In some ways, it has been a rocky year for Tesla, with sales and profit declining through the first half of the year. Profit did rise 17.3% in the third quarter.
The U.S. opened an investigation into the company’s “Full Self-Driving” system after reports of crashes in low-visibility conditions, including one that killed a pedestrian. The investigation covers roughly 2.4 million Teslas from the 2016 through 2024 model years.
And investors sent company shares tumbling last month after Tesla unveiled its long-awaited robotaxi at a Hollywood studio Thursday night, seeing not much progress at Tesla on autonomous vehicles while other companies have been making notable progress.
TORONTO – Canada’s main stock index was up more than 100 points in late-morning trading, helped by strength in base metal and utility stocks, while U.S. stock markets were mixed.
The S&P/TSX composite index was up 103.40 points at 24,542.48.
In New York, the Dow Jones industrial average was up 192.31 points at 42,932.73. The S&P 500 index was up 7.14 points at 5,822.40, while the Nasdaq composite was down 9.03 points at 18,306.56.
The Canadian dollar traded for 72.61 cents US compared with 72.44 cents US on Tuesday.
The November crude oil contract was down 71 cents at US$69.87 per barrel and the November natural gas contract was down eight cents at US$2.42 per mmBTU.
The December gold contract was up US$7.20 at US$2,686.10 an ounce and the December copper contract was up a penny at US$4.35 a pound.
This report by The Canadian Press was first published Oct. 16, 2024.
TORONTO – Canada’s main stock index was up more than 200 points in late-morning trading, while U.S. stock markets were also headed higher.
The S&P/TSX composite index was up 205.86 points at 24,508.12.
In New York, the Dow Jones industrial average was up 336.62 points at 42,790.74. The S&P 500 index was up 34.19 points at 5,814.24, while the Nasdaq composite was up 60.27 points at 18.342.32.
The Canadian dollar traded for 72.61 cents US compared with 72.71 cents US on Thursday.
The November crude oil contract was down 15 cents at US$75.70 per barrel and the November natural gas contract was down two cents at US$2.65 per mmBTU.
The December gold contract was down US$29.60 at US$2,668.90 an ounce and the December copper contract was up four cents at US$4.47 a pound.
This report by The Canadian Press was first published Oct. 11, 2024.
