Studio Moderna Holdings, an electronics and consumer products retailer in Central and Eastern Europe, has raised an undisclosed amount of minority funding co-led by Insight Venture Partners and Templeton Strategic Emerging Markets. JH Partners also participated.
DynaVox Inc., a Pittsburgh-based maker of software and devices that assist people in overcoming speech, has set its IPO terms to 9.375 million shares being offered at between $15 and $17 per shares. It plans to trade on the Nasdaq under ticker symbol DVOX, with Piper Jaffray and Jefferies & Co. serving as co-lead underwriters. […]
NEW YORK (Reuters) – Hospital chain HCA Inc is expected to file for an initial public offering worth between $4 billion and $4.5 billion as soon as mid-May, CNBC reported on Thursday. The company is currently talking to underwriters. The IPO pricing and debut are expected in mid-July, pending regulatory approval from the U.S. Securities […]
LONDON (Reuters) – About 10 buyout houses are preparing to make indicative bids on Monday for Inchcape Shipping Services (ISS), the $700 million-plus port and shipping agent owned by Dubai World’s investment arm Istithmar.The keen interest highlights the ongoing appeal of so-called secondary buyouts, where financial investors sell each other portfolio companies, despite concerns that […]
MUMBAI/SINGAPORE (Reuters) – Singapore state investor Temasek Holdings will invest $200 million in the power unit of Indian conglomerate GMR Infrastructure (GMRI.BO), said two sources with knowledge of the situation. Temasek will invest in GMR Energy through a structured paper that will be converted into equity, one of the sources told Reuters, adding a deal […]
The auction for Shoes for Crews, a non-slip shoe company being sold by Advent International, has garnered at least 10 first round bids from private equity suitors, a source familiar with the deal said. The bids were in excess of $250 million, which represents an Ebitda multiple of high 7x to low 8x. The auction […]
Exponent Private Equity has agreed to buy Gorkana, a journalist database for PR pros, according to PaidContent. The deal is valued at under £25 million, with Exponent merging Gorkana with existing portfolio company Durrants. www.gorkana.com
As usual, we have a week’s worth of ratings actions on the debt of LBO-backed companies from ratings agencies Moody’s Investors Service. This week three companies were a mix: one bankruptcy, one downgrade, and one outlook imrovement. Company: Electrical Components International
Sponsor: Francisco Partners
Action: Moody's lowered the company’s probability of default rating and the corporate family rating to Ca from Caa3 following its filing for protection under Chapter 11 of the US Bankruptcy Code on March 30, 2010.
Highlight: The last rating action was on January 6, 2009 at which time Moody's downgraded ECI's corporate family rating to Caa3 from Caa2.
(Reuters) – U.S. private equity firm Centerbridge Partners has jumped into the fray to buy the struggling North American jewelry chain Zale Corp (ZLC.N), the New York Post said, citing sources.On Wednesday, Zale’s shares jumped after a report said that the jewelry store operator was in talks with three finalists to take a stake in […]
(Reuters) – Private equity firm Apollo Management is the alternative bidder for CKE Restaurants Inc (CKR.N), rivaling an existing bid by THL Partners, two sources briefed on the situation said on Wednesday. CKE, owner of the Hardee’s and Carl’s Jr. hamburger chains, said earlier on Wednesday that an unnamed bidder had made an alternative offer […]