How much do investment bankers earn? A lot. Just consider Qatalyst Partners. Yesterday, Broadcom announced it was buying NetLogic for $3.7 billion. Frank Quattrone's Qatalyst is advising NetLogic in the sale. For this, the San Francisco-based Qatalyst is expected to earn about $20 million in fees, according to Jeff Nassof, an associate with Freeman & Co.'s consulting division. Freeman's consulting unit estimates fees that IB's earn on deals globally, Nassof says.
(Reuters) – Private equity group CVC is considering a bid for Orange Switzerland despite resistance from seller France Telecom to let it into the auction for Switzerland’s third-largest mobile phone company, four people familiar with the situation said. Detailed sales information will be sent to interested parties very shortly, people said, initiating a sales process […]
Private equity firm Advent International has acquired a 49.998% stake in MAXAM from Vista Capital and Portobello Capital. The remaining 50.002% of the company is controlled by MAXAM’s management team. The deal value has not been released. MAXAM develops, manufactures and sells civil explosives and initiation systems for mining, quarries and infrastructure; cartridges, sports ammunition and gunpowder for sports use; and products for the defense industry.
Owatonna, Minn.-based Wenger Corp. has acquired Syracuse, N.Y- based J.R. Clancy Inc., a designer, manufacturer and installer of stage rigging equipment for colleges, television studios, cruise ships theatrical venues. Terms of the deal were not released. Wenger is a maker of specialized equipment for music education and theatre. M&T Investment Banking Group, a division of M&T Bank, advised J.R. Clancy on the deal.
A fund managed by JPMorgan Chase & Co. is pouring $400 million into India's SKIL Infrastructure, sealing a stake of just under 20%, Reuters reported Tuesday. SKIL controls ship-builder Pipavav Defence and Offshore Engineering Ltd. The company plans to use the infusion to pay down debt, Reuters wrote.
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First Capital Partners said Monday that it has raised $91 million with its second fund. FCP Fund II LP will make make subordinated debt and PE investments in companies with $10 million to $100 million in revenue. Senior managers of First Capital Partners have acquired majority ownership of the firm. Omaha, Neb.-based First Capital is now managed independently from First National of Nebraska.
Visma, a software and services tax and accounting portfolio company of New York private equity firm Kohlberg Kravis Roberts & Co., will invest an unspecified amount of capital in Acumatica, the Bethesda, Maryland-based cloud services provider. Advisors on the deal were not publicized.
Ares Capital said Monday that it committed $59 million in a $110 million second lien term loan that supports the refinancing of La Paloma Generating Co. Kern County, Calif.-based La Paloma is a four-unit, 1,022 MW natural gas-fired power facility owned by EIG Global Energy Partners and Rockland Capital.
NXT Capital said Monday that it has provided a $61 million senior secured credit facility to back North East Dental Management's buy of Dental Associates of Northern Virginia. NXT Capital acted as joint lead arranger and administrative agent for the transaction. DFW Capital Partners, a Teaneck, N.J.-based PE firm, owns North East Dental.