Global consulting firm Stroz Friedberg has just raised a $115 million round from the New York-based private equity firm New Mountain Capital, in exchange for a 50% ownership stake. The rest of Stroz Friedberg is owned by Greenhill Capital Partners II LP, Stroz Friedberg’s initial private equity investor, and employees. PRESS RELEASE: Stroz Friedberg’s unsurpassed […]
Don’t expect PE firms to be major acquirers of failing bank institutions, says John Kanas, BankUnited’s chairman, president and CEO. Kanas, who spoke Thursday at the Bloomberg Dealmakers Summit, said there will be a “substantial amount” of M&A in the banking sector due to over-capacity and weak financial institutions. But any mergers will be between the banks themselves and PE will probably not be part of it, he said.
Thoma Bravo has completed its buy of LANDesk Software. Salt Lake City-based LANDesk provides systems lifecycle management, endpoint security and IT service management. The seller was Emerson Electric Co., which acquired LANDesk via its $1.2 billion buy of Avocent in 2009. Avocent itself bought LANDesk in 2006 for $416 million. LANDesk’s software “lets corporate IT departments manage all endpoints, like PCs or mobile devices,” says Seth Boro, a Thoma Bravo principal.
Private equity firm CVC is expected to receive bids of between EUR1 billion to EUR1.2 billion ($1.4 billion to $1.6 billion) for Mivisa, the Spanish food-can maker. Fellow private equity firms Blackstone, Carlyle , and Apollo are said to be circling, according to a Reuters report. First round bids are expected on Friday.
Providence Equity Partners, a Rhode Island-based private equity firm, is selling a 16.7 percent take in Kabel Deutschland, a German cable television group. Deutsche Bank is handling the deal. Kabel Deutschland’s current share price is EUR28.1 ($38.17), which would mean a cash price of around EUR420 million ($573 million) for the stake.
Winsway Coking Coal Holdings Ltd, a Chinese coking coal company which is partly owned by private equity firm Hopu Investment, raised $743 million in its initial public offering in Hong Kong. Winsay sold 990 million shares at HK$3.70 ($0.47), compared with a range of HK$3.25 ($0.41) to HK$4.50 ($0.58), according to sources.
Six3 Systems Inc., which is backed by GTCR, has bought Novii Designs. Novi provides large scale data fusion systems, cyber solutions and high-end enterprise architectures to the Intelligence Community. Financial terms were not disclosed. GTCR is a Chicago PE firm.
Bertram Capital, a San Mateo PE shop, has promoted Jared Ruger and Kevin Yamashita to partner. Bertram made the announcements in separate releases. Ruger is founding member of Bertram and was formerly with Oak Hill Capital Management. Yamashita was previously with Calera Capital.
Warburg Pincus has committed to invest CDN$35 million in Protox, which develops receptor targeted fusion proteins for the treatment of diseases of the prostate and cancer. Warburg is a global PE firm.
Kaseman, which is backed by DC Capital Partners, said that Herbert Lanese has joined its board. Fairfax, Va.-based Kaseman provides security services. DC Capital is a PE shop with offices in Washington D.C. and Alexandria, Va.