KPS Capital Partners has completed the sale of portfolio company Attends Healthcare Inc. to Domtar Corp. for $315 million in cash. Attends Healthcare is a maker of adult incontinence products. The transaction reportedly generated a 15x and 120% IRR for the PE investor.
GlaxoSmithKline is in second round talks with a group of private equity funds and strategic buyers interested in buying its non-core over-the-counter products, Reuters reported, citing the Financial Times. The sale could fetch as much as 1.5 billion pounds ($2.4 billion). Bain Capital, Blackstone and German pharmaceutical group Boehringer Ingelheim are reported to be in the bidding process.
Swiss investment firm LGT Capital Partners will acquire a 369 million euro private equity portfolio from HSH Nordbank AG. The portfolio consists of commitments from 29 different limited partnerships focused on European small and mid-market buyout funds, LGT Capital said in a statement.
Private equity firm the Gores Group is paying $85 million to buy the international Mexx business from women’s clothing retailer Liz Claiborne Inc., Reuters reported Friday. Liz Claiborne will retain an 18.75 percent interest in the joint venture with Gores Group, Reuters wrote. Liz Claiborne acquired Mexx in May 2001 for roughly $264 million.
Cracking the Code: Regulators seek high-speed trading codes Come Again? When does bankruptcy not mean bankruptcy? W. Va. Man Streaks, Takes Live raccoon to NASCAR event. Yup. Stuff You’d Never Wanna Eat? Check. So About That $100M Vick deal… Yeah, it’s not. Also, the Eagles aren’t going to win the East. There, Bernard, I said it.
IK Investment Partners will sell Idex, a French energy and environmental services company, to Cube Infrastructure, a strategic acquirer based in France. Specifics on the transaction were not publicized. The Company has approximately 3,500 employees and posted net sales for FY 02/2011 of EUR 525 million, according to a statement released by IK. J.P.Morgan, XK Corporate Finance and White & Case advised the sellers.
Dallas-based private equity Wingate Partners has dealt its Industrial Container Services LLC, a provider of reconditioned containers, to Los Angeles-based private equity firm Aurora Capital Group. Gibson Dunn & Crutcher LLP acted as legal advisor to Aurora Capital Group. Piper Jaffray & Co. acted as financial advisor to Wingate Partners and ICS and Haynes and Boone, LLP acted as their legal advisor. Mark D. Rosenbaum, Partner of Aurora Capital Group, worked on the deal for the PE firm. Specifics on the transaction were not publicized.
Highland Capital Management, the Dallas-based investment firm, has added Chris Yoon to its Seoul, South Korea office as director of business development. James Dondero, president and co-founder of Highland, called Korea one of the PE firm’s top regions targeted for investment in Asia.
MOSAID Technologies, the TSX-listed technology company, will acquire Core Wireless Licensing, which includes a portfolio of 400 patent families, including about 2,000 wireless patents and patent applications filed originally by Nokia. The best part? The price, for MOSAID! According to the statement released by MOSAID and Core, the deal will be funded “through royalties from future licensing and enforcement revenues.”
(Reuters) – Investors agreed to a $16 million settlement of lawsuits stemming from the buyout of clothing retailer J Crew Group Inc by two private equity groups, according to an investor attorney. The settlement is based on an earlier $10 million agreement that collapsed in January, according to Stuart Grant of Grant & Eisenhofer PA, […]