Wellspring Capital Management announced that it has acquired ThermaSys Corp., a maker of heat exchangers and heat exchange equipment. Terms of the deal were not released. Wellspring bought the company from Sun Capital Partners.
A consortium of investors including CPPIB has completed the acquisition of a 24.1% stake in the Gassled Joint Venture from Statoil ASA. The buyer is Solveig Gas Norway AS, a holding company that is approximately 40% owned by CPPIB; 30% by Allianz Capital Partners, a subsidiary of Allianz SE; and 30% by Infinity Investments SA, a wholly owned subsidiary of the Abu Dhabi Investment Authority. The total value of the transaction is approximately C$3.18 billion.
France's Accor is no longer in the running to buy the hotels of Groupe du Louvre, a unit of U.S. investment group Starwood Capital, Reuters reported Wednesday. Accor's offer, which it made together with Franco-Dutch property group Unibail-Rodamco, "was not retained,” Reuters wrote, quoting an Accor spokeswoman.
InfoSpace said Tuesday that it has closed its buy of TaxACT. The deal was valued at $287.5 million. TA Associates owned a majority stake. Cedar Rapids, Iowa-based TaxACT provides online tax solutions.
The Quadrangle Group is getting some good news. Today, Cequel Communications Holdings I said that it plans to refinance an existing $2.525 billion loan with a new $2.7 billion credit facility. The new loan will consist of a $500 million revolver and a $2.2 billion term loan B. Proceeds will be used to fund a $370 million distribution in March PLUS another payout of $70 million in May, according to the statement.
Now that The Carlyle Group has finally amended its filings to include how it pays its executives, it’s become easier to compare how much money some of the most high profile executives in the industry make. Sister magazine Buyouts compared Carlyle Group’s figures for 2011 with 2010 figures for executives at Apollo Global Management, The […]
Ryan Seacrest has gone private equity. Thomas H. Lee Partners and Bain Capital have committed to invest up to $300 million in Ryan Seacrest Media, the investment company from the "American Idol" host. RSM will use the funds to "identify, acquire and develop innovative" media company, media content and other properties.
(Reuters) - Bankers are working on a debt package of up to 1 billion pounds ($1.57 billion) to back the potential buyout of U.K. frozen food supermarket Iceland Foods, Reuters wrote Tuesday. Failed Icelandic banks Landsbanki and Glitnir are selling a combined 77% stake in Iceland Foods. Private equity firms Bain Capital and BC Partners are expected to put in a bid, while Blackstone has renewed interest in the company having stepped back from the process at an earlier stage, Reuters wrote.
IBM will acquire Israel-based Worklight, a maker of mobile software for smartphones and tablets. Terms of the deal were not released. The company was backed by investors including Pitango Venture Capital, Genesis Partners and Index Ventures.
Publicly traded medical device maker AngioDynamics is buying private equity-backed Navilyst Medical in a deal valued at $372 million. Avista Capital Partners acquired Navilyst Medical from Boston Scientific in 2008. Navilyst is a medical device company focused on areas including vascular access, interventional radiology and interventional cardiology.