Air Lease Corp., an aircraft leasing company backed by Leonard Green & Partners, Ares Management and Wilbur Ross's WL Ross & Co., raised $802.5 million in its initial public offering Monday, Reuters reported. The company sold 30.3 million shares, for $26.50 each, which was more than expected. Air Lease had planned to sell 25 million shares for $25 to $28 each, Reuters wrote. The company is based in Los Angeles, and will use the proceeds to complete roughly $6.8 billion in aircraft purchases.
Buyout shop TPG Capital will invest up to $150 million in China’s Comtec Solar, Reuters reported. The Shanghai-based company makes solar wafer technology, and will use the new capital to expand its production, Reuters said.
Headed South: With the market underperforming as of late, how are those PE and VC backed IPOs faring? Salmon’s Smackdown: My Reuters colleague gives Dennis Berman, and his lying grandmother, the third degree for the SharesPost piece Do Not Retweet: A flash mob ends tragically
Barclays Private Equity has acquired a majority stake in London-based visual effects company The Mill, Reuters reported. Barclays nabbed the stake from private equity shop The Carlyle Group in a deal that values The Mill at 119 million pounds ($193.1 million). The Mill produces digital visual effects for advertising clients including Nike and Adidas, and for television shows including Dr. Who.
We’ve seen it before. In fact, every time the financing pendulum swings in one direction or another, the talk starts – “Is mezzanine a dinosaur?” It happened when CLOs emerged and cash flow senior debt providers dipped lower in the capital structure, minimizing the need for mezzanine debt. It happened again when second lien debt […]
Perella Weinberg Partners has agreed to buy AIG Rail Services. Financial terms weren't announced. The company will be converted into an LLC and continue operating as Flagship Rail Services. Eugene Henneberry will remain president and CEO of the company. The deal is expected to close in second quarter.
NEW YORK, April 18 (Reuters) – Private equity firms Apollo Global Management and the Carlyle Group are interested in buying Federal-Mogul Corp., but the recent run-up in the company’s share price has made suitors skittish and a deal is far from certain, people familiar with the matter said. Several other buyout firms including Bain Capital, […]
Apax's $2 billion of Epicor and Activant has received an early termination notice from regulators. Apax announced the acquisition of the two companies earlier this month.
Lynn Tilton, the head of Patriarch Partners, must've really upset some people at Forbes. Today, Forbes unveiled their latest installment on Tilton. This post, "Lynn Tilton: Managing Through Fear," is about the exec's former employees and business associates. Tilton allegedly propositioned male employees, screamed, spit and raged on desktops, according to the story. Forbes also looked at the revolving door of management at MD Helicopters, a Patriarch portfolio company. Nearly 50 senior execs have been hired and fired, or left willingly, since Tilton acquired the company in 2005, the story said...
Wellspring Capital Management has paid an undisclosed amount to buy Crosman Corp. from Pamlico Capital. Terms of the deal were not released. The company said that Crosman’s management team will retain a significant ownership position in the company. Crossman is based in East Bloomfield, N.Y., and is a designer, manufacturer and marketer of airguns and airsoft guns.