Private equity firm BB&T Capital Partners completed a control recapitalization of JML Optical Industries. The firm invested $9.7 million as part of the transaction. Senior debt for the transaction was provided by M&T Bank. M&T Investment Banking Group served as exclusive financial advisor to JML.
Over the first half of 2011, increased levels of M&A activity occurred within the industrials sector, which we define as companies manufacturing or distributing capital goods, construction, defense, electrical equipment, heavy machinery, and other physical asset categories. In fact, industrials was the most active sector within the AxialMarket network, accounting for 33 percent of activity. […]
Tomkins, the UK manufacturing firm, is selling Stackpole International after eight years. The Sterling Group, a Houston PE firm, is the buyer. Tomkins acquired Stackpole in 2003 for C$331 million (now valued at US$349 million), according to reports. Toronto-based Stackpole makes automotive powertrain systems and components. Now here's where things get confusing. Last year, Onex Corp. and the Canada Pension Plan Investment Board bought Tompkins for US$4.5 billion. Onex and the CPP Investment Board formed Pinafore to buy Tomkins.
(Reuters) – Buyout firms are rolling up their sleeves, hopeful of getting their hands dirty with a growing number of takeover targets unloved by their corporate owners and never before touched by private equity. A selection of GlaxoSmithKline’s non-prescription drugs, fashion group PPR’s catalogues and online retail division Redcats, and Oberthur’s smart cards business are […]
Wesco Aircraft Holdings, an aerospace equipment supplier owned by the Carlyle Group, has priced its initial public offering at $15 a share, below the previously set range of $15.50-$17.50, Reuters reported. The IPO raises $315 million for the company, giving it a market value of $1.28 billion. Carlyle will hold a 65.5% stake after the IPO.
LBC Credit Partners acted as the sole lender for a $36.5 million one-stop senior credit facility to support Frontenac Company's recapitalization of Wenner Bread Products, the company announced Thursday. Wenner Bread is a manufacturer of frozen, par-baked, and fully-baked dough, breads and rolls. LBC Credit also make an equity co-investment in Wenner as part of the deal. Frontenac Company is a Chicago-based private investment firm.
Fairfax Financial Holdings and WL Ross & Co. will each grab a 9% interest in the Bank of Ireland, following their investments this week, Reuters reported Thursday. The two firms were among the group of investors who bought a 1.1 billion euro ($1.58 billion) stake in the bank. Other investors include Boston-based Fidelity Investments and the California-headquartered firm The Capital Group.
(Reuters) – A General Motors Co unit has invested $7.5 million and taken an undisclosed stake in Sunlogics Inc, helping the solar energy systems manufacturer to establish plants in Michigan and Canada and create 310 jobs at the small company. GM Ventures said it also signed commercial agreements with Sunlogics for the installation of solar […]
Private equity firms including Advent International, Cinven and Warburg Pincus are considering bids for a group of GlaxoSmithKline's non-prescription products, Reuters reported. Up for sale are several over-the-counter drugs including painkillers and vitamin supplements. The products have sales of around 500 million pounds ($817 million), representing about 10% of the company's total consumer healthcare business, Reuters reported.
UBS has set up an asset management unit in Beijing to work on private equity deals in the country. The unit will help launch private equity funds, make direct private equity investments and provide other related management and advisory services, Reuters reported. UBS follows banks like Goldman Sachs, and private equity firms Blackstone and the Carlyle Group, into China’s $650 billion private equity market.