TA Associates has acquired a minority stake in Aurora Networks, a Santa Clara, Calif.-based developer of advanced optical transport systems for broadband networks. No financial terms were disclosed for the deal, in which TA bought shares from existing aurora details. Specific sellers were not identified, but aurora has raised over $60 million from firms like Sprout Group, Battery Ventures, ComVentures and Castile Ventures.
Blackstreet Capital Partners has acquired a controlling interest in Western Capital Resources Inc. (OTC BB: WCRS), an operator of 55 cash advance locations in the Midwestern U.S. and 34 prepaid wireless outlets. No financial terms were disclosed.
NEW YORK (Reuters) – Deutsche Bank AG (DBKGn.DE) lost its spot underwriting Kohlberg Kravis Roberts & Co’s initial public offering of Dutch semiconductor company NXP BV because it refused to renew a line of credit for the company, a source said on Tuesday. Private equity firm KKR had asked Deutsche Bank to renew a […]
When writing about the Elevation Partners portfolio last month, I gave particular attention to its investment in Palm. As one source summed it up: “As goes Palm, as goes Elevation.” The reason, of course, is that Elevation has invested just over 25% of its $1.8 billion fund in Palm, via a series of commitments. Such over-allocation apparently was permitted by the fund’s LPA, but it is leading Elevation down a path well-worn by other private equity firms. Basically: If you invest 15% or more of your portfolio in a single company, you are just begging to be knocked to the ground. Remember these moldy oldies: Forstmann Little pumping $1 billion into McLeod USA (not to mention its big bet into XO Communications)? Or how about Parthenon Capital plugging around 20% of its second fund into
JW Asset Management has acquired Arbor Pharmaceuticals, a Raleigh, N.C.-based pediatric drug developer. No financial terms were disclosed.
MUMBAI (Reuters) – U.S. private-equity firm Kohlberg Kravis Roberts & Co is in talks to buy a controlling stake in Indian back-office service provider Firstsource Solutions (FISO.BO), three sources with direct knowledge of the matter said. KKR is negotiating to buy a stake totalling about 68 percent of the IT services company from No. 2 […]
CCMP Capital has completed its acquisition of a 37% stake in Oklahoma City-based oil and gas producer Chaparral Energy, for $345 million.
Roark Capital Group has acquired Wingstop Restaurants Inc., a Richardson, Texas-based chain of more than 650 chicken wing restaurants in operation or in development. No financial terms were disclosed.
Roll Coater Inc., a portfolio company of Willis Stein & Partners, has acquired the coil coating assets of Material Sciences Corp. The deal was valued at $10 million.
EducationDynamics, a provider of marketing services to the education sector, has acquired Education Connection, a resource that helps prospective students find suitable colleges, from Kaplan. No financial terms were disclosed. EducationDynamics is a portfolio company of Halyard Capital.