Publicly traded Express-1 Expedited Solutions Inc. has sealed a deal to raise up to $150 million from Bradley S. Jacobs, the founder of equipment rental company United Rentals, his fund Jacobs Private Equity LLC and minority co-investors. Jacobs will become the majority shareholder, and chairman of its board, the company said Tuesday. Express-1 is a third-party logistics transportation services provider.
Got Our Emails? Get our emails—totally free!! There’s a Saying About Every Dog’s Rear End… Futures finally pointed north Here Comes Trouble: It will be, at least, Tea for Two with Michele Bachmann’s entry into the GOP Presidential field Now HiringPromoting: UBS makes some boldface name promotions
Pangea Equity Partners, the Illinois fund that has been acquiring distressed multi-family real estate in the Midwest, has packed another $80 million into its coffers as it prepares to look at additional investment opportunities, a source told peHUB. The latest REIT add-on comes as the U.S. economy faces unstable vital signs and as the American property market continues to tread water. Now, with its add-on REIT recently closed, the private REIT will begin buying up more distressed properties in the Chicago area, and may fan out even further than prior efforts have taken it. The investment firm operates Pangea Real Estate, a building manager. Pangea makes investments in the distressed residential multi-family real estate market, targeting affordable housing and bolstering operations with proprietary call center technology...
SAN FRANCISCO, June 13 (Reuters) – Google Inc. plans to buy online advertising company AdMeld to grab a larger slice of the market for graphical display ads. It is the latest deal in Google’s buying spree of technology and engineering talent to bolster initiatives outside its Internet search business, from social networking to mobile advertising. […]
Harrison Price was named a senior MD and president of Barrier Advisors, a middle market IB. Price was previously an MD on the special situations team at BDO Capital Advisors.
Tengram Capital Partners has made a "significant" investment in Robert Graham, a men's fashion label. Michael Buckley was also named Graham's CEO, according to a statement. Tengram, of Westport, Conn., is a $200 million fund from entrepreneur William Sweedler.
OpenGate Capital said it has agreed to buy two subsidiaries of Cascades. Financial terms weren't announced. The deal includes Cascades Boxboard Group - Connecticut LLC, a paper mill facility located in Versailles, Conn., and Cascades Boxboard US Inc., a converting facility located in Hebron, Kentucky. The businesses generate a combined $100 million in revenue, a statement said. Los Angeles-based OpenGate is a PE firm.
The Blackstone Group, which has been slow to exit Graham Packaging, a 13-year-old holding, appears to be entertaining a bidding war. Today, Graham said it has received an "unsolicited proposal" from a private company for $25 a share cash, or $1.64 billion, and while the company isn't naming names one source is pointing a finger at either Sonoco or Amcor as the likely bidder. Graham in April agreed to sell itself to Silgan Holdings for about $1.3 billion (not including debt). The deal had been expected to close in the second half of this year. The new offer is 13% higher than Silgan's bid of about $22.10 a share, according to my coworkers at Thomson Reuters.
Vaupell Holdings, which is backed by H.I.G. Capital, has bought Russell Plastics Technology Co. Financial terms were not announced. Lindenhurst, N.Y.-based Russell supplies composite plastics products and assemblies serving primarily the aerospace and military markets.
Lextron Inc., the Colorado-based animal health product distributor, has acquired Animal Health International from Charlesbank Capital Partners. The exit comes after a six-year hold for the Massachusetts-based private equity firm. Charlesbank Capital Managing Director Brandon White worked on the investment in Animal Health International for the private equity firm.