Advent International has acquired Grango Assado, an operator of highway restaurants in Brazil, from the company’s founding family. No financial terms were disclosed, although Grango Assado expects 2008 sales in excess of US$120 million. PRESS RELEASE Advent International, the global private equity firm, today announced that it has acquired 100% of Frango Assado, the leading […]
Seems the best way to get a deal done these days is to Do It Yourself. And by “It,” I mean the financing. Instead of relying on lenders or co-investors, firms are “in-sourcing” their deal finance. What better way to avoid dreaded contingencies, which these days, is a four letter word to the ears of sellers. Just look at the recent fundraisings of Sterling Partners and Insight Equity. Both firms raised side funds (one a co-invest, one a mezzanine) for the sole purpose of financing their own deals. It’s got the same flavor as the attractive one-stop shop lending we’ve seen from the likes of American Capital, GE and Allied’s Unitranche Fund, etc.
LONDON (Reuters) – Lehman Brothers is being replaced as agent on two European leveraged loans which backed the buyouts of UK forging industry manufacturer Firth Rixson and frozen food manufacturer Iglo Birds Eye Frozen Foods, senior banking sources said on Tuesday. The changes mark the start of the loan market’s effort to get to grips […]
(Reuters) – Satellite-phone provider Iridium Holdings LLC agreed to a reverse acquisition with a listed affiliate of investment bank Greenhill & Co (GHL.N: Quote, Profile, Research, Stock Buzz) for about $591 million, the companies said. The deal will enable Iridium to be debt free and help the provider of mobile satellite services to develop its […]
Private equity activity in the Middle East and North Africa (MENA) region has more than halved in the first half of 2008, replicating the depression in markets across the globe. According to a report in Emirates Business 24/7, just 12 investments were made across MENA in the first half of 2008, compared to 33 in […]
Huron Capital Partners has formed DOCetera Corp., an acquisition platform company for the document process outsourcing and total process outsourcing market. It will be run by Tom Olivia, former president of Cenveo Corp. (NYSE: CVO). No financial terms of Huron's commitment were disclosed.
Francisco Partners has invested $85 million in Aconex, an Australia-based provider of online management solutions to the global construction and engineering markets.
TA Associates has invested C$98 million in Radialpoint, a Montreal-based provider of managed digital home security and care service to broadband service providers.
PHILADELPHIA (Reuters) – Carlyle Group co-founder David Rubenstein said the private equity firm may be interested in buying some assets that could be acquired by the U.S. government as part of the $700 billion financial crisis bailout effort. Speaking on CNBC, Rubenstein said Carlyle may be interested in acquiring some mortgage-backed securities and other assets, […]
BOSTON (Reuters) – Asset manager Legg Mason Inc (LM.N: Quote, Profile, Research, Stock Buzz) said on Monday it was not looking to go private, denying a report in The New York Post. Legg said in a statement its current business strategy has not changed. The Post had cited sources as saying Legg had been weighing […]