Spirit of Texas Bank completes sale of North Texas branch
Spirit of Texas Bancshares Inc., holding company for Spirit of Texas Bank, completed the sale of its Jacksboro branch to First State Bank of Graham in North Texas. Spirit sold loans of approximately $3.5 million, deposits of approximately $5.7 million and the property on which the branch was located.
Biotech firm NuProbe closes funding round
NuProbe, a genomics and molecular diagnostics company specialized in ultrasensitive sequencing panels, has closed an oversubscribed $42 million fundraising. The lead investors for the funding round were BioTrack Capital and Yonghua Capital. The proceeds will be used to expand the commercial team in both the U.S. and China, develop new products and file for regulatory approval in China for NuProbe’s clinical products.
Other investors include Taifu Capital, Panlin Capital, Juming Capital and Tuobang Capital. NuProbe’s previous investors, Sequoia Capital China, Ruomu Capital and Serica Partners, also co-invested in the deal.
NuProbe has sites in Houston, Shanghai and Suzhou, China.
Winged Keel moves to Houston with Knight acquisition
Winged Keel Group acquired Knight Planning Corp. and will be opening a Houston office. The expansion to Houston is part of the growth of the firm’s life insurance, business continuation insurance and private placement life insurance businesses. It has offices in New York City; San Francisco; Boston; Richmond, Va.; and Washington, D.C.
Investing platform acquires majority of Element Markets
The Rise Fund, a global impact investing platform managed by alternative asset firm TPG, acquired a majority stake in Element Markets LLC, an independent marketer of renewable natural gas and environmental commodities.
Terms of the transaction were not disclosed.
Founded in 2005, Houston-based Element Markets uses differentiated environmental and market expertise to play a role in markets for low carbon fuel standard credits, renewable identification numbers, emission credits and carbon credits.
It provides greenhouse gas reductions via offsets and renewable natural gas to several Fortune 100 companies.
Boise Cascade to open large door shop here
Boise Cascade Co. opened a new, 160,000square-foot door shop in the Houston market.
The facility will serve approximately 900 customers and will start producing doors in the third quarter. It is Boise Cascade’s ninth door shop in the U.S., and second in Texas. The other is in the Dallas area.