Blackstone is planning to invest a combined 2.5 billion euro ($3.5 billion) into the construction of Germany's biggest ever offshore wind farm, Reuters reported Friday, citing an article in the Financial Times. The 80-turbine wind farm will be built in the North Sea, and is expected to be completed by 2013.
Plaza Belmont Management Group has exited from Mama Rosa's Pizza after five years. Huntsman Gay Global Capital is the buyer. Financial terms of the deal, which closed Monday, weren't announced. Huntsman bought all of MaMa Rosa's, a spokesman says. Sidney, Ohio-based MaMa Rosa's sells refrigerated pizza's--not frozen, mind you--that can be found in the deli/meat or dairy section of a grocery store. MaMa Rosa's sells more than 3 million cases of large pizzas and mini snack pizza's annually. It also offers refrigerated pizza products under the Mama Angelina's, Our Old Italian and Lean Lifestyle brands, according to a statement.
Atinum Partners Co., the Korean investment firm, has struck a deal with SandRidge Energy, the Oklahoma-based oil field services and energy company, for a $500 million drilling project. SandRidge was advised by Tudor, Pickering, Holt & Co. and Vinson & Elkins LLP, and Atinum was advised by Barclays Capital and Skadden, Arps, Slate, Meagher & Flom LLP in this transaction.
Sun Capital Partners, the Boca Raton, Fla.-based private equity firm, has hired Jack Knott as a managing director. Knott was most recently chairman and CEO of Expopack Holding Corp., which makes flexible packaging and coated products and is an affiliated portfolio company of Sun Capital. Knott has also held executive posts at other companies in […]
(Reuters) – Mobile data revenue is expected to jump 23 percent this year thanks to increased usage of smartphones and tablets, as the number of global mobile connections passes 5 billion. Mobile data services revenue will total $314.7 billion this year, a 22.5 per cent increase from 2010, research firm Gartner said on Thursday. It […]
One Equity Partners’ Vacuumschmelze was dealt to strategic acquirer OM Group, the listed chemicals company, in a deal that completed earlier this week. The dealfor the materials and magnetics company was for 700 million Euros, including $50 million in common stock. The syndication, led by BofA Merrill Lynch, PNC Capital Markets LLC and BNP Paribas, was oversubscribed.
Carpenter & Co., which is looking to invest in troubled banks, is expected to start fundraising this fall for its second fund, sources say. Irvine, Calif.-based Carpenter will be going out with a $500 million target, persons say. This is up from its first fund, Carpenter Community BancFund LP, which raised $280 million in 2009. Nearly all of Fund I has been deployed, persons say. Carpenter was founded in 1974 as bank consulting firm by Chairman and CEO Edward Carpenter. The PE affiliate was formed in 2006. In November 2008, the Federal Reserve awarded Carpenter bank holding status which allows it to take controlling positions (typically PE firms must keep their stakes below 24.9%).
Advent International said Thursday that it has entered exclusive negotiations to buy the card systems and identity divisions of Oberthur Technologies. Financial terms were not disclosed. Press reports have said Advent is looking to buy 60% of the French smartcard maker in a deal valued at $1 billion euros ($1.44 billion).
(Reuters) – Warburg Pincus is placing bets on mom-and-pop investors neglected by big Wall Street firms intent on courting the elite. The private equity giant last week agreed to buy a majority stake in Mutual Fund Store LLC, an investment adviser that has grown steadily by selling mutual fund portfolios to people with as little […]
The Blackstone Group is acquiring a majority stake in Emdeon Inc., via a $3 billion deal that will take private the healthcare revenue and payment management company. Blackstone is investing out of its Blackstone Capital Partners VI L.P. Existing shareholder Hellman & Friedman will maintain “a significant minority equity interest” in Emdeon, the company said Thursday. Along with Hellman & Friedman, buyout shop General Atlantic is currently one of the company’s largest shareholders.