Blackstone Group is investing in the lucrative area of shale, following rivals such as Kohlberg Kravis Roberts & Co. North American shale fields are drawing billions of dollars from companies that are eager to learn the techniques to tap into the difficult geological formations. Blackstone said on Tuesday it teamed up with shale gas developer Alta Resources to form Alta Energy Partners and they are committing to invest up to $1 billion....
Green EnviroTech Holdings Corp. – a plastics recovery, separation, cleaning and recycling company – has closed on a $5 million equity investment from Centurion Private Equity. Green EnviroTech intends to use the proceeds to fund acquisitions, and for working capital. Centurion Private Equity is managed by Roswell Capital Partners.
Jaime Romero, a VP with AxialMarket, will weigh in at peHUB.com with the occasional post, applying some of the company’s web-based tools and analytics to a network of qualified buyers and sellers of private companies for our audience. On a quarterly basis, the company aggregates network activity to provide transparency into overall middle market M&A and transaction activity.
Clearlake Capital Group said that it has recapitalized and provided a “significant capital infusion” to 3ality Digital, a provider of digital stereoscopic 3D production hardware and software technology used in film production. As a result of the financing, Clearlake Capital, the Modell Family and the company’s management will now control 3ality Digital. Terms of the deal were not released.
Last year, pent-up M&A needs in the luxury goods space that were withheld through the recession’s dark days finally saw the light of day, as big brand names like Tommy Hilfiger exchanged hands. But Japan’s earthquake and tsunami caused investors great consternation—and for good reason; Japanese luxury goods consumers are a driving force for the industry. As Japan slowly rebuilds while facing an ongoing crisis, dealmakers, too, are ready to pick up the pieces. Already, prognosticators are declaring the Japanese economy is on its way back....
Private equity-owned building company Ausco Ltd. is planning a $524 million initial public offering, Reuters reported. The Australian company would be the float by a private equity firm in the Australian markets in the past 18 months. Ausco produces and hires out modular buildings for the mining and construction industries, and for governments and schools, Reuters said.
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Malaysian tycoon Vincent Tan is considering selling a 49% stake in the gaming unit of Berjaya Sports Toto Bhd, and has hired Citigroup Inc. as an adviser, Reuters reported. The deal could be worth $1 billion including debt, Reuters wrote. Buyout shops Carlyle Group and Providence Equity Partners were reportedly among those recently approached to buy the stake.
India’s GMR Infrastructure Ltd., which develops airport and energy projects, plans to raise $150 million in private equity funding, Reuters reported. The company is in the process of securing government approval for the fundraising, which will support its airport business. Last month, GMR said Macquarie SBI Infrastructure Investments had invested $200 million in its unit, GMR Airports Holding Ltd, which runs the Delhi and Hyderabad airports, Reuters wrote.
Gildan Activewear has agreed to buy Gold Toe Moretz Holdings, which is backed by the Blackstone Group. The total purchase price is about $350 million but Gildan will not assume any of Gold Toe's outstanding debt. Gold Toe supplies athletic, casual and dress socks and has been rumored to be near bankruptcy for months. Blackstone acquired the company in 2006 in a deal valued at $466 million. The majority of the purchase price will be represented by intangible assets, including the value of these brands, a statement said.