Jeffrey Lane will join Friedman Fleischer & Lowe as an operating partner. He was most recently a SVP and GM of packaging at Boise. Lane Will join FFL on Aug. 15.
Spain’s Ferrovial is in talks to sell a 10% stake in UK airport operator BAA, Reuters reported Monday, citing a report in the Sunday Times. Ferrovial has reportedly been in talks with U.S.-based infrastructure company Alinda Capital Partners, Reuters wrote. The stake is estimated to be workth about $285 million.
Daily deals website BuyWithMe.com will conduct a new round of fundraising in the next few months, according to a senior source. BuyWithMe has big competitors, clearly: Groupon raised $950 million earlier this year after spurning a Google offer and is expected to raise about $750 million more through its IPO; LivingSocial took in nearly $600 million across two rounds of fundraising in six months’ time. Gilt Groupe sought and secured nearly $140 million en route to a $1 billion valuation. And some of BuyWithMe’s well-capitalized competitors are dispensing money to build scale and quickly develop a merchant roster....
Comvest Capital II, the debt fund affiliated with the Comvest Group, will provide $15 million in debt and equity financing to Integrated Oncology Network LLC. The company is acquiring a minority interest in Vicura, a radiation oncology center with locations in Southern California.
The Bank of Ireland is in “advanced talks” with U.S. buyout firms, Reuters reported, citing a story in the Sunday Business Post. The bank is looking to raise 4.2 billion euros ($6 billion), and is said to be in talks with firms including Texas Pacific Group.
Harbin Electric has agreed to be taken private by Chief Executive Tianfu Yang in a deal valuing the company at $750 million, Reuters reported. As part of the deal, Harbin will merge with Tech Full Electric Company owned indirectly by CEO Yang. Yang, along with private equity firm Abax Global Capital, had made a $24 […]
Publicly traded Carpenter Technology Corp. will pay $558 million to buy Latrobe Specialty Metals Inc. As part of the deal, 8.1 million shares of Carpenter stock—worth roughly $388 million—will be issued to Latrobe’s owners, including Hicks Equity Partners and The Watermill Group. Latrobe, which makes high-performance materials for aerospace, defense and energy applications, was acquired by Hicks Equity and Watermill in 2006. Thomas Hicks of Hicks Equity, and Steve Karol of Watermill will join Carpenter's board following the close. The deal is expected to close by September 30.
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European drinks can maker Rexam is selling its lid-making business to private equity-backed Berry Plastics for $360 million, Reuters reported. Berry Plastics, a manufacturer majority-owned by U.S. private equity firm Apollo, expects to close on the cash deal during the third quarter of this year. (Reuters) – Europe’s largest drinks can maker Rexam said it […]
For the second straight summer, limited partners’ views on private equity as an asset class continued to brighten, according to a Coller Capital report released Monday. They’re looking to increase target allocation in greater numbers and LPs say debt markets are functioning well and that dividend recaps are a sign of strength. Nearly one quarter […]