New Mountain Capital LLC bought Mallinckrodt Baker Inc. from Covidien for about $280 million through an affiliate. Raj Gupta will serve as chairman of Mallinckrodt Baker, a New Jersey-based chemicals maker and marketer that generated sales of $414 million for fiscal 2009. Gupta, a senior advisor at New Mountain, was chairman and CEO of Rohm and Haas.
Darby Overseas Investments Ltd., which is Franklin Templeton Investments’ private equity arm, purchased a substantial minority stake in Controladora Vertice, S.A. de C.V. The investment increases Controladora Vertice's capital base by about 50 percent. The deal was completed by Darby-ProBanco Fund II LP.
(Reuters) Private equity firm Blackstone Group LP (BX.N) paid a $3 million ‘clawback’ to investors on a real estate fund, according to a recent filing. A clawback is paid when a fund performs worse than hoped and the private equity executives, or “general partners,” have to refund to investors profit that may have been taken […]
(Reuters) – Chinese retailer GOME Electrical Appliances Holding Ltd (0493.HK) said it had received a letter from a firm owned by its jailed founder and biggest shareholder, seeking to terminate several agreements with the company. In a statement to the Hong Kong stock exchange, GOME said on Monday that Beijing GOME, a company owned by […]
(Reuters) - Private equity fund Carlyle Group concluded the purchase of a 51 percent stake in Brazil's Scalina, the owner of a pantyhose maker, Folha de S. Paulo reported on Sunday. The funds for the 280 million reais-deal ($159.7 mln) will come from South America Buyout, a Carlyle fund, and a fund Carlyle has in partnership with state-run Banco do Brasil, Folha said. "The rise of the middle class, the increase in consumption and investments in infrastructure, which will eliminate bottlenecks in the sector, are some of the reasons for the investment in Scalina," Juan Carlos Felix, director of Carlyle in Brazil told Folha.
PE firms are in talks to invest in Nokia Siemens Networks, the network equipment joint venture owned by Nokia and Siemen. However, neither Nokia nor Siemens is seeking an early exit from NSN, the Financial Times reported Sunday.
A handful of investors are interested in NSN. A deal could be worth $1 billion and raises the possibility of an IPO, the FT said. Last month, the FT said that Blackstone and TPG were interested in NSN while Silver Lake Partners and Bain Capital were linked. Not all of the companies are still involved, a source told the FT.
Niagara Acquisition Inc., which is owned by KingSett Capital and certain clients managed by Alberta Investment Management Corp. (AIMCo), has inked a deal to buy all of the outstanding equity interests in ING Summit Industrial Fund LP. The sellers are Realty Holding LP and Realty Holding II LP. The deal is valued at roughly CDN $2 billion, including debt. Niagara has also agreed to buy ING Real Estate Canada LP, the manager of Summit. KingSett is a PE real estate firm in Canada. AIMCo is a large institutional investor in Canada.
Just a short post on the Air Medical Group sale before I head out for the weekend. Bain Capital inked a deal last night to buy Air Medical for $1 billion. Brockway Moran & Partners and MVP Capital Partners are the sellers. Air Medical, which flies people in need of critical care to hospitals or medical centers, is a combination of several companies that the Brockway and MVP began buying in 2004. The sale to Bain is expected to close during the third or fourth quarter.
Denver-based Platte River Ventures completed the recapitalization of Global X-Ray & Testing Corp., which provides testing and evaluation services to the oil and gas industry. Financial terms were not disclosed. McGladrey Capital Markets served as Global X-Ray’s exclusive financial adviser.
St. Louis-based Thompson Street Capital Partners acquired a majority interest in Barcodes Inc., a Chicago company engages in barcode, mobile computing and radio-frequency identification solutions. Financial terms were not disclosed. Thompson Street Capital, which manages $450 million in capital, has made six acquisitions this year.