Platinum Equity and The Gores Group acquired Alliance Entertainment from Source Interlink Cos. Financial terms were not disclosed. Alliance Entertainment is a wholesale distributor of CD, DVD and videogame titles. It has a distribution center in Shepherdsville, Ky. The transaction was completed through Project Panther Holding Corp., a joint venture between Platinum Equity and Gores Group.
(Reuters) – Burger King Holdings Inc (BKC.N: Quote, Profile, Research, Stock Buzz), the No. 2 U.S. hamburger chain, has been considering a possible sale and has held talks with potential buyers, a source familiar with the situation said on Wednesday. The company, which has a market capitalization of about $2.3 billion, has been public since […]
(Reuters) – Lazard Ltd’s (LAZ.N: Quote, Profile, Research, Stock Buzz) Australian private equity arm said on Wednesday it has sold the credit monitoring business Dun & Bradstreet Australia for A$233 million ($209 million), deciding against an initial public offering. Lazard Carnegie Wylie Australia managing director John Wylie said the sale produced a profit of A$100 […]
(Reuters) - British private equity firm 3i Group Plc said it had hired Citigroup to conduct a "strategic review" of Global Energy Services (GES), the Spanish builder of wind farms it bought four years ago. Two people familiar with the matter told Reuters that 3i was hoping ultimately to sell the company, and the buyout firm hoped GES could fetch roughly 500 million euros ($632 million). GES could interest both rival private equity firms and trade bidders, the people said. "Citigroup has been brought on board to undertake a strategic review of GES, but all options are open at the moment," 3i spokeswoman Kathryn van der Kroft said on Tuesday.
Late August is supposed to be slow for M&A but I’m finding the opposite today. There are two deals, both involving Onex Corp., on tap. First off, Onex has put portfolio company, Center for Diagnostic Imaging, up for sale, sources say. J.P. Morgan Chase is advising on the deal. It’s not clear who is bidding for CDI or what it could go for. Onex bought CDI in 2005 in a deal valued at $160 million, according to press reports from that time. Minneapolis-based CDI is a provider of diagnostic and therapeutic radiology services in the U.S. It operates 58 outpatient diagnostic imaging centers in 12 markets. Onex Partners invested $73 million in CDI, which includes $17 million from Onex, the parent company. CDI had annual revenue of $141 million in 2009, according to the firm’s web site.
With its planned buy of United Private Networks, Ridgemont Equity Partners unveiled its first announced acquisition since spinning off from BofA. First announced acquisition? Yeah, you heard right. Ridgemont has made an investment in another company, an energy firm, but hasn’t told anyone yet. When I asked the name of the company, Travis Hain, a Ridgemont partner, said: “We’ll let you know when we announce it.” Gee, thanks. Anyway, Ridgemont is taking a majority stake in UPN, of Kansas City, Mo., which provides high-bandwidth, fiber-based communications networks. The sellers were the shareholders of UPN, which will retain a minority stake in the new company.
J.Mendel recapitalized its balance sheet with an investment from The Gores Group of Los Angeles. Financial terms were not disclosed. Gilles Mendel retains a significant stake in J. Mendel and will remain as chief executive officer and chief designer at the fashion house known for using fur in its collection.
Brockway Moran & Partners has bought Turning Technologies, which provides response systems used by educators and presenters. The seller is Talisman Capital Partners, a PE shop in Columbus. peHUB reported the sale to Brockway Moran last week. Now we have confirmation but no deal value. Turning Technologies’ management appears to be retaining a stake, according to a press release.
A private equity consortium is in talks to buy Saks, according to the Daily Mail. The group, comprised of both U.S. and U.K. buyout shops, has been stalking Saks for months. Due diligence is near completed and a cash bid of $1.7 billion, or $11 a share, could be tabled soon, the Daily Mail said. Shares of Saks closed Monday at $6.60. In after-hours trading they gained more than 19% to $7.87.
Irving Place Capital looks to be closing in on another deal. The former Bear Stearns Merchant Banking is buying Alpha Packaging. Stonebridge Partners, which invested in Alpha in 2005, is the seller. Last week, Bank of Ireland, GE Capital and BMO Capital Markets launched a $120 million loan to back the acquisition from Irving, a source says. The loan is split between a $20 million revolver and a $100 million term loan, according to Standard & Poor’s Leveraged Commentary and Data.