ST Acquisition Corp, controlled by the family of Canadian billionaire Frank Stronach, has made an offer to buy the remaining shares of Canadian real estate company MI Developments. ST Acquisition Corp is offering $13 per share, worth $607 million overall. MI Developments’ closing share price on Friday was $10.67. ST Acquisition said the deal would be financed through cash-on-hand and third party financing that is currently being arranged.
A Royal Bank of Scotland portfolio of property loans worth 3 billion pounds ($4.8 billion) is reportedly drawing the interested of U.S. bank Goldman Sachs, U.S. distressed debt specialist Lone Star and private equity firm Blackstone, according to a report in the Sunday Times. The report, which cited no sources about the identity of potential bidders, said the first round bids are expected in the next two weeks. RBS did not comment on the story while the three potential bidders were not available for comment.
I attended the Bloomberg Dealmakers Summit this week and found some interesting data. The top five biggest private equity acquirers, by value of deals, over the past five years were KKR, the Blackstone Group, TPG, Carlyle and Bain Capital. KKR posted 67 deals valued at $233.3 billion to come in first on the list, Bloomberg said. The data ranked firms by the total value of deals announced from Sept. 15, 2005 to Sept. 15, 2010. Blackstone placed second with 117 deals totaling $197.4 billion, while TPG ranked third with 78 transactions valued at $193.1 billion.
AllianceBernstein announced today that it has acquired SunAmerica‘s alternative investments group, which manages hedge fund and private equity fund investments. The transaction price wasn’t disclosed, nor was the amount of assets the alternative investment group manages. PRESS RELEASE: AllianceBernstein L.P. today announced that it has acquired SunAmerica’s alternative investments group, a team that manages a […]
Antenna Audio, which was recently bought by the Wicks Group, has named Janet Matricciani as its CEO. Antenna Audio produces and delivers educational content for use in multimedia and mobile tours for museums, exhibitions and historic sites. Wicks is a New York PE firm. Matricciani was previousy senior VP of corporate development at K12 Inc.
Private equity firms Clayton, Dubilier & Rice, and GS Capital Partners just closed their acquisition of HGI Holding, a Cleveland-based medical supplies distributor for an undisclosed amount of funding. Back in July, a source told the Wall Street Journal that the purchase price was $850 million. PRESS RELEASE: HGI is a leading mail-order, direct-to-home provider […]
Mallinckrodt Baker, which has been bought by New Mountain Capital, has changed its name to Avantor Performance Materials. Phillipsburg, N.J.-based Avantar makes and markets chemicals and materials under the brand names J.T. Baker and Mallinckrodt Chemicals. New Mountain is a New York PE firm.
Kraco Enterprises, a portfolio company of Sun Capital Partners, a private equity firm based in Boca Raton, FL, has completed the acquisition of Auto Expressions, a California-based automobile accessories company. Auto Expressions was bought from Pennzoil-Quaker State Company (doing business as SOPUS Products), which is itself owned by Shell Oil. The terms of the transaction were not disclosed.
Chicago private equity firm Arbor Investments has bought Fieldbrook Foods Corporation, a manufacturer or frozen novelty and ice-cream products. The details of the sale were not disclosed. Arbor Investments has $258 million of capital under management and invests in the food, beverage and related industries.
Vantage Point Venture Partners will invest in Xinjiang Goldwind Science & Technology Company (Goldwind) when the Chinese wind turbine manufacturer launches its IPO on the Hong Kong stock exchange next month. Vantage Point is a Silicon Valley-based investor in the cleantech industry. It has more than $4.5 billion in committed capital.