Welsh, Carson, Anderson & Stowe has named Josh Sullivan an operating executive at the firm. Sullivan was most recently an associate principal at McKinsey & Co.
Tonka Bay Equity Partners' third fund came in at $150 million, above its initial target. The Minnetonka, Minn.-based PE firm had planned to raise $125 million for fund III, according to a statement. Instead, Tonka Bay collected $63 million in private capital and, through the SBIC, leveraged the pool to $150 million, says Cary Musech, a Tonka Bay managing principal. Tonka Bay didn't use a placement agent, he says. Marketing began in February. "It went extremely quickly," Musech says of the fundraising. Tonka Bay ended up turning away some investors, he says.
CVC Capital Partners could reconsider its plan to sell Belgian chemicals company Taminco and Dutch supermarket chain C1000 and opt to recapitalize them instead, Reuters reported Monday. Both companies have been put up for sale by CVC and attracted interest from trade buyers and buyout houses after first round bids were due in October.
Encompass Supply Chain Solutions Inc., a provider of forward and reverse logistics for electronics products and replacement parts, has completed its acquisition of the assets of Encompass Group Affiliates Inc. Terms were not released. The board of Encompass Supply Chain Solutions includes representatives from Sankaty Advisors, the credit affiliate of Bain Capital.
A new fund, Atlon Capital Partners, has formed to focus on middle-market buyouts in France. The firm was started in October by Thibaut de Chassey and Edouard Thomazeau, both previously partners at French midmarket firm AtriA Capital Partenaires. Alton Capital Partners will focus on companies with an enterprise value between 30 million Euro and 150 million euro.
Len Blavatnik's Warner Music Group, the frontrunner in the sale of music group EMI's assets, has walked away from the auction, Reuters reported Monday, citing a piece in the Financial Times. Blavatnik, whose Access Industries group bought Warner Music earlier this year, had looked set to win from Citigroup a $1.5 billion (939.3 million pounds) deal for EMI's labels which include Capitol and Virgin, Reuters wrote.
(Reuters) – Venture capitalist Bill Gurley has noticed something new this autumn: a big jump in the number of what he calls “legitimate introductions” that he receives each day to entrepreneurs who hope he might invest in their start-up companies. The money-seekers are companies that have benefited from a tidal wave of early-stage investing in […]
BlackEagle Partners has acquired the Midwest operations of Lyman Lumber Company, including its Chanhassen location, Automated Building Components, Carpentry Contractors Corp., and Lyman Lumber of Wisconsin.
Empire Investment Holdings portfolio company Polyester Fibers has closed on a new 3 year, $25,000,000 credit facility with PNC Bank. Empire created Polyester Fibers, a diversified market leader in the non-woven industry, by integrating various business units acquired from both Leggett & Platt and Ahlstrom Corporation.
Private equity firms Trilantic Capital Partners and Sagard are seen as likely to post final offers for Sara Lee Corp's French baked goods unit, Reuters reports.