(Reuters) – Yashili Group Co Ltd, a Chinese infant baby food maker, in which global private equity fund Carlyle Group owns a 17.3 percent stake, plans to go public later this year, the Wall Street Journal said. The initial public offering from Yashili will test investor confidence in China’s infant formula making industry, which is […]
The company known for exploiting follicle insecurities may be looking for a buyer. Earlier this week, Regis Corp., which owns the “Hair Club for Men” as well as Supercuts beauty salon, announced it was exploring strategic alternatives. Regis has tapped Peter J. Solomon Co. as its financial advisor. For the uninitiated, “exploring alternatives” or “considering strategic options” usually means a sale.
NEW YORK (Reuters) – Software maker IntraLinks Holdings Inc (IL.N) priced 11 million shares below the expected range on Thursday, according to an underwriter. The company sold 11 million shares for $13 each, raising about $143 million. It had planned to sell 11 million shares for $14 to $16 each. IntraLinks was founded to sell […]
Advent International and Bain Capital have agreed to acquire the WorldPay payment processing business of RBS. The enterprise value is up to £2.025bn including a £200m contingent consideration.RBS will retain a 19.9% stake in the newly-independent business.
Irving Place Capital has completed its acquisition of Mold-Rite Plastics Inc., a Plattsburgh, NY.-based maker of caps and jars for the drug, nutraceuticals and personal care markets. No financial terms were disclosed. Phil Yates, former CEO of Graham Packaging and an Irving Place senior advisor, has joined Mold-Rite as executive chairman.
(Reuters) – Dutch chipmaker NXP Semiconductors NV NXPI.O, the first of four big private equity-backed IPOs in the U.S. pipeline, priced shares in its stock flotation more than 28 percent below the midpoint of the expected range, according to an underwriter. The company sold 34 million shares for $14 each, raising about $476 million. It […]
HONG KONG (Reuters) – Macquarie Group Ltd (MQG.AX) and U.S. buyout fund Providence Equity Partners are among the parties to have submitted first-round bids to buy China Network Systems Co Ltd from MBK Partners, sources said on Friday, a deal that could value CNS at about $2 billion. North Asia-focused MBK Partners is selling CNS […]
(Reuters) – Royal Bank of Scotland (RBS.L) is poised to sell its WorldPay arm to private equity firms Advent International and Bain Capital, the latest step in its restructuring plan after a humiliating taxpayer bailout in 2008. Advent and Bain have been in exclusive talks to buy payment processing company WorldPay since late July, a […]
The restaurant industry is seeing signs of recovery. Bob Bielinski, a CIT Group managing director within corporate finance, says there have been more notable deals this year than all of 2009. “We are not quite at ‘good’ but we are starting to get better,” he says. The year started off strongly when Papa Murphy’s, which offers take-n-bake pizza, was sold to Lee Equity Partners for about 10x EBITDA in April. That same month, Roark Capital Group bought Wingstop Restaurants. In May, Mill Road Capital acquired Rubio’s Restaurants for roughly $91 million. Oak Hill Capital Partners closed its $570 million buy of Dave & Buster’s in June (7x EBITDA). Apollo Management this month completed its $694 million buy of CKE Restaurants, which runs the Carl’s Jr. and Hardee’s chains (6x EBITDA), while Golden Gate Capital closed its $180 million buy of On The Border.
PARIS (Reuters) – Rio Tinto (RIO.L)(RIO.AX) plans to sell a controlling stake in its French aluminum unit to U.S. private equity firm Apollo Management [APOLO.UL] and the French state, buoying Paris’ control over the strategically important industry. The sale of Alcan Engineered Products (AEP) would create a new aluminium champion in France six years after […]