Greetings from the home office, where it's good to be back after a week on the road. Just a reminder that Pro Rata is just one of several morning missives offered up by Axios, and you can get them all by going here. Here we go...
Top of the Morning
Ares Management is in talks to acquire Chuck E. Cheese for around $2 billion from Apollo Global Management, per Bloomberg. The report adds that Bain Capital, Hellman & Friedman and Warburg Pincus has expressed interest in the company – which also was considering an IPO – but bailed over pricing.
- Why it's the BFD: Because this is the sort of company that should have disappeared in an age of home video-games, decent pizza and indoor trampoline parks, but instead is still worth $2 billion. Plus, my family once held a surprise 70th birthday party for my great uncle at one, which remains my favorite surprise party of all time.
- Fun fact: Chuck E. Cheese was founded by Nolan Bushnell, who also founded Atari and was Steve Jobs' first boss.
Venture Capital Deals
Private Equity Deals
• Federal Signal Corp. (NYSE: FSS) has agreed to sell Truck Bodies and Equipment International, a Lake Crystal, Minn.-based manufacturer of dump truck bodies and trailers, from GenNX360 Capital Partners for $270 million.
• David Buttress, former CEO of Just Eat (LSE: JE), is joining venture firm 83North as a general partner. www.83north.com
• Harry Stebbings has stepped down as an entrepreneur-in-residence with Atomico, after just a 6-month run. The 20 year-old host of the "20 Minute VC" podcast is preparing to raise his own VC fund, per Business Insider. http://read.bi/2pqGrlU