The acquisition of Canadian coffee and doughnut chain Tim Hortons Inc by Burger King Worldwide Inc will occur through a $12.6 billion cash-and-stock deal, Reuters reported. Burger King has secured commitments for US$12.5 billion of funding for the cash portion of the transaction. The new fast-food restaurant group, which will be majority owned by U.S. private equity firm 3G Capital, will be Canadian domiciled, with listings on both the New York Stock Exchange and the Toronto Stock Exchange.
Superior Street Partners said Wednesday that it has acquired Riverbend Nursery. No financial terms were disclosed. Union First Market Bank provided the senior debt financing for the deal. Based in Riner, VIrginia, Riverbend Nursery is a provider of quality perennial plants, herbs and ground cover.
Global private equity firm Carlyle Group is in advanced talks with China Vanke Co Ltd, the country's largest property developer, to buy stakes in nine of its shopping malls, sources told Reuters.
Otter Products LLC, the privately held company that makes the OtterBox protective cases for mobile phones, is exploring a sale that could value the company at more than $2.5 billion, including debt, according to people familiar with the matter, sources told Reuters.
DBRS Ltd, the privately held credit rating agency that competes with Standard & Poor's Financial Services LLC, Moody's Corp and Fitch Ratings Inc, is exploring a sale, according to people familiar with the matter, sources told Reuters.
Pritok Capital, a private equity firm that invests in senior care real estate, has received a $12.4 million loan from Oxford Finance. Proceeds of the loan were used by Pritok to acquire two nursing facilities in Kansas and Missouri.
Ayondo has received SGD 5 million in funding from Luminor Capital. Headquartered in Germany, Ayondo is a social trading platform.
Blue Sage Capital has hired Davis Miller as an associate to assist with evaluating, structuring, due diligence and financial modeling of opportunities. Before Blue Sage, Miller worked as an analyst in the Natural Resources Investment Banking Group at Barclays in Houston.
J.F. Lehman & Company has acquired Aeronautical & GI Holdings Limited and subsidiaries Aeronautical & General Instruments Limited and Hoffman Engineering Corporation. Aeronautical & GI Holdings, based in Poole, UK, provides LED lighting systems for naval vessels, military and commercial aircraft and military ground vehicles.
Canadian private equity firm Ironbridge Equity Partners has made an undisclosed investment in M&M Resources Inc, a Fort Nelson, British Columbia-based energy services company. The deal, which was done in partnership with the company's management, is intended to support M&M Resources' continued growth as a provider of land-clearing and trucking services to the oil and gas industry in northeast British Columbia and northwest Alberta. In April, the Toronto-based Ironbridge completed the final close of its second mid-market fund, Ironbridge Equity Partners II LP, raising $154 million in total. M&M is Fund II's third investment to date.