VenGrowth Partners has acquired the assets of Roll-Tite Inc., a Canadian maker of retractable metal covers for flat-bed trailers. No financial terms were disclosed. VenGrowth had originally acquired Roll-Tite in 2007, but the company was placed into receivership this past February.
Riverside Partners has sponsored a recapitalization of IZI Medical Products, a Baltimore-based provider of medical markers used in image-guided surgery, radiology and radiation therapy. No financial terms were disclosed for the deal, which was done in partnership with company management.
LONDON (Reuters) – GlaxoSmithKline Plc, the world’s second-largest drugmaker, has agreed to buy privately owned U.S. skincare specialist Stiefel Laboratories Inc for up to $3.6 billion, the two companies said on Monday. The acquisition is the latest in a string of deals in the drugs sector, but is significantly smaller than recent mega-mergers, reflecting the […]
Ellora Energy Inc., a Boulder, Colo.-based oil and gas company, has withdrawn registration for an IPO. The company, a portfolio company of Yorktown Energy Partners, had planned to offer around 10.21 million shares at between $17 and $19 per share. Ellora had planned to trade on the Nasdaq, with Merrill Lynch and Raymond James serving […]
NEW YORK (Reuters) – Bondholders may face losses from debt exchanges for years to come as companies scramble to head off over a trillion dollars of junk bonds and loans coming due between 2011 and 2014, analysts said. The rush to deleverage, or pay back that debt, will create strong competition for capital, and companies […]
Update: The deadline for LPs to decide whether they will terminate their investment in Quadrangle due to Rattner's departure is one week from today, peHUB has learned. Plenty of people are wondering if Steve Rattner's involvement in the NY State Common kickback scandal will lose him his job as President Obama's top auto industry advisor. It seems obvious that he'd be shown the door, even if he told the U.S. Treasury about the investigation before Obama took office. It raises the question: Will he go back to Quadrangle? The firm recently put its fundraising on hold because of his departure. Meanwhile, he triggered a key man provision on older funds when he left (including Quadrangle Capital Partners II, the one under indictment). That key man provision requires a vote which had a deadline of April 24, a source said. LPs will be
GRCR has formed Six3 Systems Inc., a Fairfax, Va.-based government services acquisition platform focused on national security and defense intelligence. No financial terms were disclosed. Six3 Systems will be led by Robert Coleman, former CEO of government contractor ManTech International (NYSE: MANT).
Context Capital Partners has raised $44 million for a family of private equity funds that invest in de novo and community banks.
Lakeview Equity Partners of Milwaukee has acquired the event housing and registration assets of Ambassadors, an Atlanta-based event travel services company. No financial terms were disclosed.
LONDON (Reuters) – Wind farm operator Renewable Energy Generation (RERWE.L) has received a bid approach from an unnamed party, it said on Friday, sending its shares up by nearly 50 percent. The operator of 11 wind farms in the UK and Canada, and which runs a power station fuelled by vegetable oil in eastern England, […]