Backed by Anchorage Capital Group, Martinrea International Inc. has completed the acquisition of Honsel AG, a German-based supplier of aluminum components for the automotive and industrial sectors. The merged company will be known as Martinrea Honsel Group. Martinrea owns 55% of the Martinrea Honsel Group, with Anchorage owning the remaining 45%.
Chinese buyout firm Hony Capital has completed its restructuring of China Yaohua Glass Group Corp. after paying $100 million for control of the struggling glass maker, Reuters reported. The company is now owned 60% by Hony Capital and 10% by the IFC, a unit of the World Bank. The local government of Qinhuangdao, where Yaohua Glass is based, owns the remaining 30 percent stake, Reuters wrote.
Private equity firm GTCR is taking Global Traffic Network Inc. private, buying the company for $267 million, Reuters reported. The firm is paying $14 a share, representing a 20% premium over the company’s closing price Tuesday. Global Traffic provides traffic and news reports to radio and television stations.
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ValueClick will acquire Dotomi, the Chicago-based display media company, in a $295 million deal. Jefferies & Company, Inc. acted as exclusive financial advisor to Dotomi on this transaction. Dotomi was founded in 2003.
Private equity firms are going to have their work cut out for them, if Jana Partners and the Ontario Teachers’ Pension Plan get their way. The pension and the hedge fund teamed to buy a stake in recent market benchmark under-performer and multi-faceted education and financial services publishing giant McGraw-Hill and decide that the company […]
(Reuters) – LivingSocial agreed to buy South Korean online daily deal provider TicketMonster in a stock-swap to expand further into the Asian market, the companies said on Tuesday, without disclosing the value of the deal. The acquisition is LivingSocial’s largest to date and comes as the No. 2 U.S. daily deal player steps up overseas […]
The Daily Mail & General Trust, the U.K. media conglomerate, is near a sale of George Little Management, several sources say. GLM is in talks to sell itself to a larger sponsor, sources say. But it's unclear who that is. However, another source says that a few PE firms remain and that GLM is getting close to selecting a buyer. The Daily Mail & General Trust owns newspaper including The Daily Mail and The Mail on Sunday. GLM is its U.S. trade show business. GLM produces 15 trade shows including the Las Vegas Antique Jewelry & Watch Show, Surf Expo and the International Contemporary Furniture Fair. The company produces about $25 million in cash flow and was seeking bids of 10x EBITDA, sources say. Valuations for GLM range from $200 million to $240 million, according to press reports.
Tonka Bay Equity Partners, the Minnesota-based private equity firm, is selling The Resort Company, a vacation property rental company in Colorado, to Wyndham Vacation Rentals, part of the listed Wyndham Worldwide Co. Tonka Bay recapped the company in Sept. 2007.
LLR Partners, a Philadelphia PE firm, said Tuesday that it has invested $24 million into VectorLearning. Tampa, Fla.-based VectorLearing is the parent of RedVector and Care2Learn.