Sun Capital Partners, the Florida-based private equity firm, completed its buy of Contessa Premium Foods Inc., and appointed Donald J. Binotto as president and CEO of the new company. Most recently, Binotto was president and CEO of StarKist Co., a maker of canned seafood.
Redpoint Ventures’ Menlo Park offices must be an awfully happy place to have been these last 12 months. The VC has racked up billions of dollars’ worth of IPOs, sales to strategic buyers and even launched itself into a handful of new investments as of late. Some of its deals—like eye-popping multiples on Cloud.com, or […]
GTCR is officially exiting ConvergEx Group. Today, the financial industry software company announced it would sell to to CVC Capital Partners. Bank of New York Mellon Corp. is keeping a minority stake, the statement said. ConvergEx's management team, led by Chairman and CEO Joseph Velli, are also staying on as substantial shareholders and will continue to manage the company, a separate statement from GTCR said. UPDATE: The sale was reportedly valued at $1.9 billion but is actually closer to $2 billion, a source says. The deal is expected to close in the early autumn.
Alcatel-Lucent is mulling a sale of its enterprise business, with buyout shop Permira a reported frontrunner for such a sale, Reuters reported Wednesday. The collection of businesses up for sale had revenues of around 1 billion euros and operating margins around 6% to 7%, Reuters said.
Quepasa Corp., which runs the Latino social network Quepasa.com, will pay $100 million for venture-backed networking site myYearbook. The deal is comprised of $82 million in Quepasa stock, and $18 million in cash. myYearbook had raised venture funding from investors including Norwest Venture Partners, US Venture Partners and First Round Capital.
Publicly traded DST Systems will pay $250 million to acquire ALPS Holdings, a provider of asset servicing and asset gathering technology for the asset management industry, the companies announced. ALPS has been a portfolio company of Lovell Minnick Partners since September 2005, when the firm took a majority stake in ALPS.
(Reuters) – Private equity firm Hudson Clean Energy Partners on Tuesday said it is expanding into China as it seeks to capitalize on that nation’s growing appetite for green technology. The move into China will allow Hudson to both invest in Chinese cleantech companies and help Hudson’s existing portfolio of companies capture growth opportunities there, […]
Skullcandy, a Park City, Utah-based maker of headphones, priced its initial public offering Tuesday above the expected range, selling 9.44 million shares at $20 per share. The pricing values the company at $535.6 million, Reuters reported. Backers of Skullcandy include Mercato Partners. BofA Merrill Lynch and Morgan Stanley are underwriters for the offering.
Dell is buying data center networking company Force10 Networks, which has a lengthy list of venture investors including New Enterprise Associates, Crosslink Capital, U.S. Venture Partners, Morgenthaler Ventures and Worldview Technology Partners. No terms of the deal were released. According to a press release, Force10 is a $200-million company, based on trailing 12 months revenue. Force10 was founded in 1999 and is based in San Jose, Calif.
German state-controlled bank WestLB is in exclusive talks with private equity firm Apollo Global Management over a sale of its real estate unit, Reuters reported Wednesday. Earlier reported had valued the unit, WestImmo, at about 400 million euros ($567.9 million).