GI Partners has sponsored a management buyout of SoftLayer Technologies, a Dallas-based provider of on-demand data center services. No financial terms were disclosed. DH Capital advised SoftLayer on the deal.
Language Stars LLC, a provider of language instruction to the pre-school and elementary school market, has raised an undisclosed amount of private equity funding from Hispania Capital Partners.
GTCR is targeting $3 billion for its tenth fund, with marketing already underway. The Chicago-based private equity firm's prior fund was capped at $2.75 billion in 2006. In related news, we're told that GTCR chairman Bruce Rauner is scaling back his activities. "He's been in more of an advisory role for some time now and not as active sourcing deals, sitting on boards, etc.," a source says, adding that the transition becomes more "official" with the new fund.
Forum Energy Technologies has formed via the merger of five companies, to provide manufactured and applied products to the global energy industry. The companies were: Forum Oilfield Technologies, Triton Group, Subsea Services International, Global Flow Technologies and Allied Technology. SCF Partners provided $100 million in equity to create FET, which will be run by Cris Gaut, a managing director with SCF Partners who previously was CFO and the head of the drilling and evaluation at Halliburton. Eight banks have provided a $450 million credit facility, with an additional $150 million accordion feature.
(Reuters) – Blackstone Group LP (BX.N) has agreed to buy a shopping mall in Hawaii as well as a stake in a warehouse venture for a combined $859 million, Bloomberg reported on Monday, citing two sources. The private equity firm is buying the Pearlridge Center on Oahu with Glimcher Realty Trust (GRT.N) for $242 million, […]
(Reuters) – SKS Microfinance, an Indian firm that makes small loans to the poor, has raised about $358 million in an IPO after pricing the sale at the top end of the indicated price band, a source with direct knowledge of the matter said. People were attracted by the business model of the company, which […]
LONDON (Reuters) – Buyout firm JC Flowers on Tuesday outlined an innovative plan to invest in building society Kent Reliance, and said it was likely to clinch similar deals with other mutually-owned British lenders. “It’s fair to say we wouldn’t be surprised if in time other societies had an interest in a similiar partnership,” JC […]
Morrie Yohai, one of the inventors of the Cheez Doodle, has passed away. Yohai, 90, died last week of cancer, a Wise spokeswoman confirmed. Yohai, along with a team, helped develop the cheese-powder-covered baked corn puff. After World War II, Yohai took over his father’s snack food business in the Bronx and created the snack, according to Newsday. The Cheez doodle is an innovation that only comes along every 15 to 20 years, a banker says. "I can only hope that there are still people out there innovating new products which could become as successful in the future."
Freeman Spogli & Co. has acquired Brooks Equipment Co. from Behrman Capital for an undisclosed amount. Brooks is a Charlotte-based wholesale distributor of first response fire protection equipment and related parts.
NEW YORK, Aug 2 (Reuters) – Proceeds from initial public offerings in July soared on a global basis, hitting their highest level since before the 2008 financial meltdown, according to Thomson Reuters data. The $30.5 billion that new issues raised globally in July was the most since November 2007 and exceeded the amount raised by […]