Avenue Capital Group and DDJ Capital Management have received bankruptcy court approval for their acquisition of Milacron Inc., a plastics processing and industrial fluids company. Bayside Capital, an affiliate of H.I.G. Capital, had acquired a 29% stake in Milacron in 2007.
OpenGate Capital has agreed to acquire Gabriel North America, a provider of shock absorbers and strut assemblies, from ArvinMeritor (NYSE: ARM). No financial terms were disclosed.
Court Square Capital Partners has completed its acquisition of Wyle Holdings Inc. from Littlejohn & Co. for an undisclosed amount. Wyle is an El Segundo, Calif.-based provider of engineering, professional and information technology services to military and civilian government agencies. It was acquired by Littlejohn in 2003, and currently generates approximately $800 million in annual […]
JEN Partners and Real Estate Capital Partners have agreed to acquire substantially all the tax credit equity business of MMA FInancial, an Municipal Mortgage & Equity LLC (OTC: MMAB). The deal is valued at approximately $31 million. PRESS RELEASE JEN Partners, a New York-based private equity real estate firm, today announced that it has entered […]
NEW YORK (Reuters) – Bankrupt hotel chain Extended Stay was granted interim access on Monday to its cash for a second time so it can make mortgage payments and pay the company managing its hotels. Judge James Peck of U.S. Bankruptcy Court in Manhattan said Extended Stay could to tap into $86 million of its […]
NEW YORK (Reuters) – Bank of America Corp (BAC.N), the largest U.S. bank, and First Data Corp have created a joint venture to offer electronic payment services to merchants, the companies said on Monday. The venture will combine Bank of America’s brand name — and its 240,000 merchant relationships — with First Data’s payment services […]
Premier Precision Group, a Minneapolis-based contract manufacturer of fabricated and complex precision machined components, has acquired the assets of Phoenix-based Aimco Precision Inc. No financial terms were disclosed. PPG is a portfolio company of Spell Capital Partners.
LONDON (Reuters) – The British government is likely to put on hold plans to sell part of Royal Mail because it has run out of parliamentary time and market conditions are not right, Business Secretary Peter Mandelson said on Monday. Speaking to the Financial Times, Mandelson pointed to the depressed state of financial markets as […]
DUBAI (Reuters) – A regional infrastructure fund led by HSBC Holdings Plc (HSBA.L) on Monday said it bought a 32.8 percent stake in an Omani power project from French utilities giant GDF Suez (GSZ.PA). The MENA private equity fund, which is backed by HSBC, Waha Capital WAHA.AD and Dubai International Capital, will pay $26.5 million […]
Lime Rock Partners has paid $49.7 million to acquire approximately 19.89 million shares of common stock in Allis-Chalmers Energy Inc. (NYSE: ALY), which represents around a 27.9% ownership position. The position could rise to 39.8%, based on a backstop agreement and preferred stock purchase commitment.