Lombard Investments has exited its stake in Somboon Advance Technology, a Thailand-based auto parts manufacturer, earning a return of 3.5 times its investment, the firm announced. Lombard backed the company in 2004.
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Kellwood, a fashion brands company belonging to Florida-based private equity firm Sun Capital Partners, will acquire Zobha, a yoga and fitness apparel manufacturer. The acquisition of the Calif.-based company marks the first activewear business to join Kellwood’s portfolio. Specifics of the deal were not disclosed.
AES Solar, the Virginia-based joint venture between AES Corporation and Riverstone Holdings LLC, just completed a €68 Million financing of a solar photovoltaic project in Italy. The solar power company also has more projects in Greece, France and Bulgaria.
Luke Plumpton has joined O2 Investment Partners. He will be responsible for evaluating, structuring, negotiating and financing transactions, as well as monitoring O2’s portfolio companies, according to a statement.
American Glass Enterprises, an affiliate of Florida-based private equity firm Sun Capital Partners, has completed the acquisition of the assets of Vitro America via a 363 bankruptcy sale. Vitro America serves construction and auto replacement markets with architectural glass and aluminum products, and is based in Memphis, Tennessee. Morgan Joseph served as investment banker to Vitro America on the transaction, which also involved raising approximately $35 million in debtor-in-possession financing.
Buyout shop J.C. Flowers is in talks with South Korea’s TStone to jointly fund the Korean firm’s bid for 57% of Woori Finance Holdings, Reuters reported Wednesday. TStone was one of three local funds to bid for the government’s $6 billion stake in Woori.
Denham Capital has put $200 million into Tradition Midstream, a provider of services to energy producers and consumers. The new funding will help the company expand its infrastructure. Denham Capital is an energy-focused global private equity firm.
Clorox Co. turned down a revised buyout offer from billionaire Carl Icahn, calling the $80 per share bid “inadequate,” Reuters reported. Icahn had upped the offer from his original $76.50 a share bid. The latest valued Clorox at $10.66 billion. Icahn is the company’s largest shareholder.
Dunkin' Brands, which owns Dunkin' Donuts and Baskin Robbins, is going public today. Late yesterday, Dunkin' Brands raised nearly $424 million after selling 22.3 million shares at $19 each. This was up from the $16 to $18 price range originally planned. JP Morgan, Barclays Capital and Morgan Stanley are joint bookrunners on the deal. Eleven more underwriters are on the deal, including BofA Merrill Lynch and Goldman Sachs. The underwriters have the option to buy another 3.3 million shares. Dunkin' is expected to trade Wednesday under the Nasdaq ticker "DNKN."