Stewart Information Services to acquire real estate data firm
Stewart Information Services Corp. has agreed to acquire Informative Research, a credit, consumer and real estate data and technology service, for $192 million.
IR serves more than 3,000 customers across the United States and offers a range of mission critical solutions through its proprietary platform to streamline the loan cycle.
The transaction is expected to close following the appropriate regulatory review and Stewart said it would be immediately accretive to its earnings. IR will continue operating as a standalone company.
Symplr adds another firm
Symplr, an enterprise health care operations business that includes governance, risk management and compliance software as a service solutions, has acquired SpinFusion, a health care scheduling software provider with a focus on physician scheduling. Terms were not disclosed.
Symplr, based in Houston, is backed by Clearlake Capital Group and Charlesbank Capital Partners.
This is symplr’s 13th acquisition in the past six years, and its eighth under sponsorship from Clearlake since November 2018.
In July, symplr added health care talent acquisition software provider HealthcareSource to its workforce management portfolio to provide health care organizations with a complete end-to-end staffing solution.
Midland-Petro in JV with Andros
Andros Capital Partners has closed a joint venture with MidlandPetro D.C. Partners LLC under which Andros affiliate Andros Permian LLC will fund approximately $150 million to participate in a development drilling program targeting the highly productive Spraberry and Wolfcamp formations in Midland County.
Andros Capital is a private investment firm based in Houston. Midland-Petro D.C. Partners is a private oil and gas company based in Midland.
Talos wins bid for carbon storage
Talos Energy Inc. and its partner Carbonvert Inc. were the winning bidders for the Texas General Land Office’s Jefferson County carbon storage site, located near Beaumont and Port Arthur.
The bid is subject to finalization of lease terms. The project site encompasses a land area of over 40,000 gross acres and is located offshore in state waters in the Gulf of Mexico.
The project site is fully covered by Talos’ existing seismic database and is close to a large concentration of industrial emitters along the Texas and Louisiana coasts.
Based on Talos’ preliminary understanding of the rock and fluid properties of the saline reservoirs of the site,
Talos expects it can sequester approximately 225 to 275 million metric tons of carbon dioxide from industrial sources in the area.
Golden Nugget swings to profit
Tilman Fertitta’s brick-and-mortar casino and hospitality company Golden Nugget reported soaring revenues during its second quarter, as vaccinations and declining COVID-19 cases spurred an in-person boom.
The private company said in a press release that it recorded a $144 million profit in its second quarter ended June 30, compared to a $153 million loss during the same period in 2020. Revenues jumped 224 percent to $935 million from $288 million a year ago.
The earnings report comes ahead of a planned merger slated to take Golden Nugget and his restaurant empire public later this year.
Earlier this month, Fantasy sports giant DraftKings announced its plans to buy Fertitta’s newly public Golden Nugget Online Gaming in a separate deal valued at $1.56 billion.