NEW YORK, May 3 (Reuters) – Private equity firm Cerberus Capital Management and Chatham Lodging Trust won an auction for the bulk of the hotels owned by bankrupt Innkeepers USA Trust, according to sources familiar with the matter. The pair will pay $1.12 billion for 64 of the chain’s hotels, according to two of the […]
Amvensys Telecom Holdings has acquired Voicecom Telecommunications, which does business as Intelliverse. Global Equity Capital is the seller. Financial terms were not announced. Atlanta-based Intelliverse provides communications services in the business-to-business market. Peter A. Sokoloff & Co. provided financial advice to Intelliverse.
Today, SK Capital Partners said it had recapped Calabrian Corp., which provides water treatment chemicals. Financial terms were not disclosed. SK Capital, a private investment firm with offices in New York and Boca Raton, Fla., will have a majority stake in Calabrian. CEO Charles Cogliandro will have a minority stake, or less than 30%. Cogliandro is also staying on as CEO, says Jack Norris, an SK Capital MD.
BV Investment Partners, the former Boston Ventures, has completed the acquisition of fund Butterfield Fulcrum and FORS Ltd. Glenn Henderson will serve as CEO while Tim Calveley will be COO. Both Henderson and Calveley will retain significant ownership stakes, a statement said. Bermuda-based Butterfield is a fund administrator while FORS Ltd. provides accounting and reporting services.
As the global economy continues to rebound from the recession and M&A markets become increasingly crowded, U.S. investors are opening foreign offices and foreign funds to make cross-border transactions. The VC industry is expected to increase its presence in emerging markets, with more local activity and a shift of LP allocations to those markets. Private […]
Bain Capital Partners and a subsidiary of Oaktree Capital Management teamed together to invest $1 billion in International Market Centers, with the intent of developing the showrooms assets. International Market Centers has locations in North Carolina and Las Vegas. Phil Loughlin, managing director, worked on the deal from Bain Capital. Kirkland & Ellis is counsel for Bain Capital, Paul Weiss is acting as legal advisor to the Oaktree entities, and Paul Hastings represents related companies.
Mistral Equity Partners has acquired Worldwise, which supplies dog and cat products under the SmartyKat, PoochPlanet and Petlinks brands. Financial terms were not announced. New York-based Mistral Equity, a PE firm, targets consumer, retail, and consumer focused media sectors.
Nexar Capital Group has acquired alternative asset management group Ermitage Ltd. from Caledonia Investments plc. Financial terms of the deal were not released. Berkshire Capital Securities acted as financial adviser to Ermitage. Ermitage has operations in London, Jersey and New York.
Buyout shops Berkshire Partners and Omers Private Equity will pay $2.1 billion to buy the Husky International business from investment firm Onex Corp., Reuters reported. Onex bought Husky in 2007, and said that its net proceeds from the sale would be about $635 million, Reuters reported. Husky makes injection molding equipment and services to the plastics industry. The deal is expected to close early in the third quarter.
A consortium of investors, led by investor Jack Petchey, has approached British car dealership and parts supplier Lookers with a potential buyout offer, Reuters reported. Petchey's Trefick vehicle, along with real estate private equity investment advisory firm Moor Park Capital Partners, and venture capitalist Brett Palos made a joint approach to Lookers' board in writing regarding a possible cash offer, Reuters wrote. Lookers, however, has not allowed the suitors access to its books, Reuters said.