Reliance Communications has hired UBS to sell its tower unit, Reliance Infratel, and is asking for $5 billion for a 95% stake, Reuters reported. The company has reached out to several private equity firms and potential strategic buyers – including the Blackstone Group and the Carlyle Group, Reuters said.
Ray LaSoya has joined Stroock & Stroock as a partner. He will be part of the L.A. office and serve as the National Chair of Stroock's Private Equity Practice Group.
Gerber Scientific shareholders voted Thursday to approve the $281.8 million sale to Vector Capital. Based in Tolland, Conn., Gerber provides automated manufacturing systems for the sign making, specialty graphics, packaging, apparel and industrial industries. The deal was announced in June.
Quantum Energy Partners said Thursday that it's formed Bluestem Energy, which will buy oil and gas producing properties in North America. Bluestem is expected to have up to $1 billion in equity from Quantum, co-investors and management.
(Reuters) – Hewlett-Packard Co is close to a deal to buy British software company Autonomy for $10 billion and will announce on Thursday a long-rumored spinoff of its PC division, the world’s largest, two sources familiar with the company’s plans said. Shares in HP, a storied Silicon Valley icon that dominates the personal computing industry, […]
Strategic Value Partners, the Connecticut-based private equity firm, sold its ownership position in Liberty Electric Generation Holdings to Energy Capital Partners, the energy-focused PE shop. Liberty owns a facility that operates near Philadelphia. SVP began investing in Liberty Electric’s debt and acquired 100% equity in 2007. J.P. Morgan is acting as exclusive financial advisor to Liberty Electric and SVP, and Milbank, Tweed, Hadley & McCloy LLP is representing SVP on the sale. Barclays Capital is acting as financial advisor to ECP and Latham & Watkins LLP is representing ECP with respect to the announced transaction.
Carbonite was a rare exception to the recent rule that has kept other companies’ IPO plans shelved amid the volatility of the market. While going out then might have seemed incredibly risky, the reality is that Wall Street can’t get enough of subscription-based companies. In fact, of the ten tech IPOs this year, six of […]
Gladstone Investment Corp., along with investors including Montlake Capital and the Mustang Group, have put $28.1 million into SOG Specialty Knives and Tools. The debt and equity financing is going to support the acquisition of the business from private equity firm MCC Capital Partners. MCC Capital bought SOG in 2009. Terms of the buyout by Gladstone and other investors were not released. UPDATE: Nathan Pund, of D.A. Davidson, provided financial advice to SOG.
Lombard Investments, the private equity firm with offices in Bangkok, Hong Kong and San Francisco, has exited its investment in Central Pattana PLC, a Thailand shopping mall developer, netting it a 7.1x return on its $24 million investment, totaling $170 million. Lombard invested in the company in 2003.
Publicly traded General Dynamics will pay $960 million in cash for Vangent Inc., a provider of healthcare information-technology and business systems to federal agencies, the companies announced Thursday. Vangent is majority-owned by the Veritas Capital Fund III. General Dynamics says that following the close of the deal, expected by October 1, that Vangent will become part of its information technology group.