News Briefs

Blackstone is buying a majority of Servpro via a recap. Financial terms weren’t announced. Servpro is a cleaning and emergency restoration company. The Wall Street Journal pegged the deal at $1 billion.

Spartan Energy Acquisition Corp, a blank check company focused on the energy industry in North America, has debuted its IPO after pricing its 48 million shares at $10 per share. The stock began trading August 10, 2018 on the New York Stock Exchange under the ticker symbol "SPAQ.U." Citigroup Global Markets Inc and Credit Suisse Securities (USA) LLC are the lead underwriters. Spartan Energy Acquisition Corp is backed by Apollo Global Management LLC. 

One Madison Corporation, a blank check company, has agreed to acquire Ranpak Corporation from Rhône Capital for about $950 million in cash. Once the deal closes, which is expected to be in the spring of 2019, OMAD will be renamed and continue to list on the New York Stock Exchange but under a different ticker symbol. Citi acted as financial adviser to OMAD while Goldman Sachs did likewise for Rhône Capital and Ranpak. Based in Concord Township, Ohio, Ranpak is a provider of fiber-based, environmentally sustainable protective packaging solutions. OMAD's backers include JS Capital, Soros Capital and Blackstone Alternative Solutions L.L.C.

LionTree LLC, an investment and merchant banking firm, has added Nick Tuosto to its San Franciso office. Tuosto will hold a senior position, according to a source familiar with the firm. Previously, Tuosto was managing director and global co-head of internet and digital media at Bank of America Merrill Lynch.