KPS Capital Partners is paying $180 million to buy American & Efird Inc. from Ruddick Corp. The firm is acquiring American & Efird. Mt. Holly, North Carolina-based American & Efird is a manufacturer and distributor of industrial sewing thread, embroidery thread and technical textiles.
Opus Bank has raised $100 million in new equity financing led by Opus Bank’s founding Chairman & CEO; funds affiliated with Elliott Management Corp., funds affiliated with Fortress Investment Group; and a fund affiliated with Starwood Capital Group. The money will be used for growth efforts, including acquisitions.
Platinum Equity has acquired Bluffton, Ind.-based NESCO, a provider of fleet equipment rental, sales and services for the North American electrical transmission and distribution market. The firm bought NESCO from an investor group led by Hammond, Kennedy, Whitney & Co. Terms were not released.
Aircraft leasing group Avolon has sealed a $300 million equity commitment from the Government of Singapore Investment Corp. Avolon has raised a total of $1.4 billion in equity capital over the past year and a half, from investors including private equity firms Cinven, CVC Capital Partners and Oak Hill Capital Partners.
The Blackstone Group and Wells Fargo & Co. have teamed up to buy a pool of about $600 million in loans on U.S. commercial property from Allied Irish Banks, Reuters reported Friday. The deal, the most recent in a spate of such sales by Irish banks, allows the two to buy the portfolio of loans backed by hotels, office buildings and retail properties for about 15% to 20% off the face value.
A consortium led by online shopping mall operator InterPark Corp. has signed a deal to take over Samsung Group procurement arm iMarketKorea Inc. in a deal worth more than 422 billion won ($378.4 million), Reuters reported Friday. On Monday, the InterPark-led consortium beat private equity firms KKR & Co. and MBK Partners when it was picked as preferred bidder for iMarketKorea, set up by Samsung in 2000 to provide goods and maintenance services for business clients, Reuters wrote.
The latest regulatory requirement for buyout shops appears not to be as onerous as the industry had feared, lawyers who work with private equity firms told sister publication Buyouts Thursday. Smaller registered private equity firms will be required to provide only limited information regarding size, leverage, investor types and concentration, liquidity, and fund performance. For […]
Chatham Lodging Trust and Cerberus Capital Management said Thursday that they have completed their buy of 64 hotels of Innkeepers USA Trust. The total gross purchase price was about $1.02 billion. Cerberus/Chatham were locked in a bitter dispute with Innskeeper USA Trust for two months after backing out of a deal to buy the hotels at a higher price.
Rockbridge Growth Equity, the private equity firm headed by Dan Gilbert, recently closed its eighth deal. Not too shabby for a PE firm that doesn't have a committed fund. Detroit-based Rockbridge invests off of Gilbert's balance sheet, says Kevin Prokop, a partner. Gilbert is majority owner of the Cleveland Cavaliers and chairman and founder of Quicken Loans (Gilbert is also GM of Detroit Venture Partners). Rockbridge, formed in 2007, has $200 million of committed capital. The PE firm targets companies in sectors such as including business and financial services, as well as sports, media & entertainment, according to the firm's web site. Rockbridge invests $20 million to $30 million equity per deal, Prokop says.
(Reuters) – Private equity firm Madison Dearborn Partners has decided against selling TransUnion and will pursue a public offering for the credit reporting firm as originally planned, sources familiar with the matter said. A sale of the business, which competes with firms such as Experian Plc and Equifax Inc., was expected to fetch more than […]