Silver Lake Partners has acquired a minority stake in Spreadtrum Communications Inc. (Nasdaq: SPRD), a Shanghai-based chipmaker. No financial terms were disclosed. Spreadtrum's current market cap is approximately $277 million.
Centerbridge Partners has agreed to acquire American Renal Holdings, a national provider of kidney dialysis services, from Pamlico Capital (fka Wachovia Capital Partners). No financial terms were disclosed for the deal, which is expected to close next month.
(Reuters) – Trian Fund Management’s Nelson Peltz, owner of U.S. restaurant chain Wendy’s/Arby’s Group Inc (WEN.N), will not be bidding for CKE Restaurants Inc (CKR.N), the New York Post said, citing a source close to the process. Earlier this month the newspaper had said that the fast-food tycoon was considering making a bid for CKE. […]
New Mountain Capital has completed its acquisition of RedPrairie Holding Inc., a Waukesha, Wisc.-based provider of inventory, warehouse, transportation and workforce management systems. The seller was Francisco Partners, which held an 89.7% equity position, based on a 2005 buyout. RedPrairie is in registration for a $172.5 million IPO, although it is expected to withdraw the filing.
(Reuters) – Higher One Holdings Inc filed with U.S. regulators on Wednesday to raise up to $100 million in an initial public offering of common stock. The New Haven, Connecticut-based company told the U.S Securities and Exchange Commission in a preliminary prospectus that Goldman Sachs, UBS Investment Bank, Piper Jaffray, Raymond James, William Blair & […]
NEW YORK (Reuters) – Private equity firm CCMP Capital is investing $345 million to take a 37 percent stake in independent oil and gas producer Chaparral Energy in its third deal in a month. CCMP has a history of investing in energy assets and currently has an investment in Noble Environmental Power, which is focused […]
It's nice to have dry powder when so many buyout firms are struggling to raise funds, but there's a danger that comes with hoarding one's capital. Private equity firms have a five-year investment period. If M&A doesn't pick up, and fast, some ‘05 and ‘06 vintage funds may have to give their money back or ask for fund extensions. A smaller fund means lower fees and, for those that associate success with size, a blow to those delicate private equity egos. Earlier this week Phil Canfield of GTCR and I discussed the coming expiration-driven M&A flood. We agreed that we don't expect many private equity firms to willingly part with their capital, and a blogger called Anal_yst wrote a more extensive blog post arguing the point. What that all means is there's about to be a mad rush of buyout pros desperate to "put money to work," however they can (but I'm not talking about your firm, dear reader, you would never do that, just everyone else).
NEW YORK (Reuters) – A U.S. judge on Wednesday denied a request by Citigroup Inc (C.N) to move a lawsuit by Terra Firma Capital Partners Ltd to London in a dispute over the buyout house’s acquisition of EMI. The order was a victory for Terra Firma Chairman and Chief Executive Guy Hands, who has become […]
Littlejohn & Co. is in talks to buy CTI Foods Inc. from CIC Partners, according to a recent list of transactions granted early termination of the HSR waiting period. No pricing terms were disclosed. Both Littlejohn and CIC Partners declined comment, although a source tells me that "this is far from done." CIC Partners formed CTI Foods in 2003, via the acqusition and merger of SSI Food Services and S&S Foods LLC from J.R. Simplot Company. The Wilder, Idaho-based company already had a processing facility in California, and later would add a couple in Texas, in order to provide frozen, fresh and precooked food products to restaurant chains like Wendy's and Taco Bell.
LONDON (Reuters) – British chemical company Ineos’s proposal to amend its 6.8 billion euros ($9.1 billion) debt to allow a 1 billion euro loan and bond refinancing is running into opposition from investors, bankers said on Tuesday. Ineos, which has been meeting investors in London and New York, asked lenders to amend its loan earlier […]