Japanese electric parts maker Murata Manufacturing Co. is paying 20 billion yen ($261 million to buy Finland's VTI Technologies, Reuters reported. Private equity group EQT III, one-third owned by holding company Investor AB, said it has agreed to sell all shares in VTI, which makes sensors used in cars and pacemakers, Reuters wrote. Kyoto-based Murata supplies components to Apple and Nokia as well as major automakers.
China Investment Corp. is pouring $1 billion into the Russia-China Investment Fund, a partnership with a Russian state vehicle, Reuters reported Tuesday. The state-backed Russian Direct Investment Fund will also commit $1 billion to the venture. The fund would also seek outside investments that would be four times the original capital commitments of the two state investment funds, Reuters wrote. The fund will co-invest in private equity deals, and in deals that “will strengthen Russia-Chinese business relations,” Reuters wrote.
Bay Grove Capital, an investment firm based in San Francisco, has acquired Richmond Cold Storage Company, a third party warehousing logistics company headquartered in Richmond, Virginia. RCS will join Bay Grove’s family of cold storage companies, which includes Terminal Freezers, Flint River Services and West Coast Cold, the parent of CityIce and Seafreeze Cold Storage.
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European private equity firm Vitruvian Partners has invested in College Group, valuing the business at approximately 45 million pounds ($70.3 million). College Group management and staff will continue to retain a substantial equity investment in the business, in partnership with Vitruvian.
CapMan Russia, a Russian private equity fund managed by CapMan, has acquired a 29% share in Russian laboratory analytical equipment manufacturer Lumex Instruments. The company has operations in Russia, the CIS, China, the European Union, the US and Canada. Financial details of the acquisition were undisclosed.
Renaissance Learning, a provider of technology-based school improvement and student assessment programs for K-12 schools, has received an unsolicited, revised definitive acquisition proposal from Plato Learning. Under the revised definitive proposal, Plato Learning proposes to acquire all of the outstanding shares of Renaissance Learning for an aggregate purchase price of approximately $496.0 million. Renaissance Learning previously announced that the company and the Permira Funds entered into an amendment to the definitive merger agreement dated August 15, 2011 under which a company formed at the direction of the Permira Funds will acquire all of the outstanding shares of Renaissance Learning.
Genpact, a global player in business process and technology management, has acquired High Performance Partners, LLC (HPP) and its Quantum Mortgage Technology. Genpact had previously announced an initial equity investment in HPP in March 2010 and now owns 100 percent of the company.
(Reuters): Thomas H. Lee Partners and a consortium that includes Blackstone Group and Carlyle Group are finalists to acquire Regions Financial Corp’s Morgan Keegan brokerage and investment banking unit, sources familiar with the matter said on Monday. A deal is far from certain, the sources said, as debt-financing markets remain tight, and Morgan Keegan faces […]
Alexander C. Frank has joined Fifth Street Finance Corp. as CFO. He most recently served as MD and CFO of Chilton Investment Co., an investment management firm. Before that, Frank spent 22 years at Morgan Stanley where his roles included Global Head of Institutional Operations, Global Corporate Controller and Chief Financial Officer of U.S. broker/dealer operations.