Bayside Capital, an affiliate of H.I.G. Capital, has acquired Akrion Inc., an Allentown, Penn.–based provider of surface preparation systems to the semiconductor and solar industries. No financial terms were disclosed.
Monomoy Capital Partners has acquired L&P Plastics LLC from Leggett & Platt Inc. (NYSE: LEG), for an undisclosed amount. L&P Plastics makes custom plastic components for the power tool, medical device, furniture and automotive industries. It has more than 400 employees and four facilities. Lazard Middle Market advised Leggett & Platt on the sale.
NEW YORK/LONDON (Reuters) – Private equity firms surveying the wreckage of America’s financial system have a crucial question — when will credit return? The worsening financial crisis has hampered large buyouts for well over a year. For the year-to-date, global buyout activity plummeted 74 percent from a year ago to a four-year low of $180 […]
NEW YORK (Reuters) – The market for initial public offerings in the United States continued its precipitous fall in the third quarter, dropping to levels not seen in more than five years. The IPO market has reached near paralysis after a second quarter that had been the worst since early 2003. But the drop in […]
LONDON (Reuters) – American International Group (AIG.N: Quote, Profile, Research, Stock Buzz), the stricken U.S. insurance group, has agreed to sell part of its minority interest in London’s City Airport to its joint-venture partner, Britain’s Sunday Telegraph reported. AIG will sell a 25 percent stake in the airport, the fastest-growing in Britain, for about 250 […]
HONG KONG (Reuters) – Renhe Commercial Group, which develops underground shopping centers in China, plans to brave turbulent markets and begin marketing a Hong Kong IPO on Monday to raise up to $658 million, people familiar with the deal said. If it succeeds, Renhe’s listing would be the first in Hong Kong in more than […]
NEW YORK (Reuters) – Texas-based private equity firm TPG’S $1.35 billion investment in Washington Mutual Inc (WM.N: Quote, Profile, Research, Stock Buzz) was spread across three of its private equity funds, according to a letter it sent to its investors. Thursday’s drastic move by the government to close and sell the banking assets of savings […]
United Services Management Corp., a SPAC founded by Joseph R. Wright, has withdrawn its $160 million IPO due to market conditions.
3i Group has agreed to invest between $183 million and $229 million for a minority stake in Krishnapatnam Port Co., a port developer in South India, LBO Wire reported.
Cerberus Capital Management has offered $2 million in Chapter 11 financing to Hard Rock Park, a Myrtle Beach tourist attraction that filed for bankruptcy.