Angela Sormani
CCMP Capital Advisors has acquired Solvay's Eco Services business unit in a transaction valued at $890 million. Eco Services recycles spent sulfuric acid for continuous supply to the oil refining industry and manufactures high quality virgin acid products for broad industrial applications including mining, water treatment and other chemical processes.
Leeds Novamark Capital has backed Commercial Foodservice Repair to support its acquisition of Foodservice Technologies. Headquartered in Greenville, South Carolina, CFR is a provider of foodservice equipment maintenance and repair services to convenience stores, restaurants, retailers, and other foodservice channels.
Newfield Exploration Company is selling its Granite Wash assets to Trilantic/First Reserve portfolio company Templar Energy. The value of the transaction is $588 million. Newfield's assets in the Granite Wash include approximately 42,000 net acres and current net daily production is nearly 65 MMcfe/d, of which approximately 60% is natural gas.
Today, First Read brings you news of KKR's Infrastructure II fund, myths about Asian venture capital, New York State Insurance Fund hiring for a special investment officer and buyout shops that are preferring to spread the wealth amongst themselves.
Levine Leichtman Capital Partners has realized a 27 percent IRR and 2.3x multiple on its investment in Consumer Portfolio Services. Further financial details of the transaction were not disclosed. LLCP invested in the business six years ago.
The Carlyle Group has released its unaudited results for the second quarter of 2014. European private equity investments performed well for the group with Carlyle Europe Partners III appreciating 47 percent over the past year.
Online rental marketplace ABODO has closed $1.25 million in Series A financing, led by American Family Ventures. Also joining the round are 4490 Ventures and Lakewest Venture Partners.
JinkoSolar Holding has secured backing from China Development Bank International, the Macquarie Greater China Infrastructure Fund, a fund managed by Macquarie Infrastructure and Real Assets and New Horizon Capital. Total funding amounts to $225 million.
Technology investor Mercia Fund Management portfolio company Oxford Genetics Ltd, has secured further funds. Oxford Genetics is the biotechnology company behind SnapFast™ - a system that simplifies the purchase of synthetic DNA molecules (plasmids).
Meritech Capital Partners has closed its fifth fund, Meritech Capital Partners V LP on target at $500 million, according to an SEC filing.