NEW YORK, May 2 (Reuters) – JPMorgan Chase & Co. lost two West Coast technology investment bankers to competing firms last week, according to a source familiar with the matter. Mark Solomons, a managing director who was responsible for technology mergers and acquisitions at JPMorgan, will be joining Morgan Stanley’s technology group in Menlo Park, […]
SRA International said Monday that a 30-day go-shop has ended. On March 31, SRA agreed to be sold to Providence Equity Partners for $31.25 a share cash. The parties, at that time, agreed to a go-shop where SRA could solicit interest from third parties. Fairfax, Va.-based SRA, which provides technology and strategic consulting services, said it contacted 50 parties, including 29 strategics and 21 financial sponsors, but didn't receive any alternative bids during the time period.
Advent International said Monday that it has acquired TES Vsetin and MEZservis. Financial terms were not announced. TES, of Vsetin, Czech Republic, makes power generators and components used to produce hydro, wind and non-renewable energy generation. MEZservis provides engineering and maintenance services. Penta Investments, the seller, acquired TES Vsetin in 2008 and MEZservis in 2010.
Vinum Capital Management, a private equity management company focused on the wine industry, has backed the acquisition of the Buena Vista Carneros winery by Boisset Family Estates. Boisset bought the winery from Ascentia Wine Estates and Entertainment Properties Trust. Terms of the deal were not released. Vinum Capital said that it facilitated the financing and structuring of the transaction.
Blackberry developer Research In Motion has acquired Ubitexx, a developer of smartphone security technology. Terms of the deal were not released. Ubitexx was backed by investors including Target Partners and BayBG. With the new technology, Research in Motion said that it would launch a multi-platform solution for managing and securing mobile devices for enterprises and government organizations.
Copenhagen-based food firm Danisco is urging its shareholders to accept a newly raised $6.64 billion takeover big from DuPont, Reuters reported. The cash offer was raised by 5% late Friday. Danisco's biggest shareholder, Danish pension insurance group ATP -- which owns 5.1% of the stock -- said it would accept DuPont's new offer, Reuters reported. Other shareholders include SEB Asset Management, which owns about 2% of Danisco's stock.
Los Angeles-based private equity firm Aurora Capital Group has acquired TruGreen LandCare from The ServiceMaster Company. Financial terms of the deal were not released. TruGreen LandCare is a provider of landscape maintenance services to commercial, industrial and municipal customers. Aurora Capital manages more than $2.0 billion of capital across several private equity funds.
Dutchess Capital will provide $15 million in equity financing to Melbourne, Australia-based Motopia Ltd. The funding is designed to be pulled down in tranches over the next three years. Each tranche will total up to $300,000. At no time will Dutchess Capital hold more than 19.99% of Motopia, the company said in a press release.
NEW YORK (Reuters) - Final buyout bids for Warner Music Group are due on Monday and the company could be sold by the end of the week in a deal valued at over $3 billion, according to a person familiar with the matter. The third round of bids is led by two competing financial groups Len Blavatnik's Access Industry and a joint bid by Tom and Alec Gores' Platinum Equity and Gores Group, according two people.
Luxury shoemaker Jimmy Choo is mulling a 650 million pound ($1.08 billion) initial public offering in Hong Kong, Reuters reported, citing a piece in the Financial Times. Jimmy Choo is owned by buyout shop TowerBrook Capital Partners. A group of bidders is already vying for the shoemaker, with private equity group TPG Capital, U.S. clothing maker Jones Group and a consortium of Bahrain-based Investcorp and Germany's Labelux reportedly bidding in the auction's second round due in mid-May, Reuters wrote.