Main Street Capital Corp. said Tuesday that it has invested $13 million in Tin Roof. The funding will be used by Tin Roof to refinance existing debt and for expansion. Headquartered in Nashville, Tin Roof, which is a portfolio company of Larsen MacColl Partners, is a live music and restaurant chain.
Urgent Care of Connecticut said Tuesday that it has closed a "significant" investment from Pulse Equity Partners and PineBridge Investments. No financial terms were disclosed. Urgent Care of Connecticut is a provider of urgent care centers in the state.
Palm Beach Capital said Tuesday that it has bought a 60% stake in CTS Engines from Neff Capital Management, which will retain a 40% ownership. No financial terms were disclosed. Brian Neff, the managing partner of Neff Capital Management, will remain as CEO. Based in Ft. Lauderdale, Florida, CTS is an jet engine maintenance repair and overhaul provider.
Brennan Investment Group and DLJ Real Estate Capital Partners have acquired approximately 8 acres of land at 1780 Birchwood Avenue in Des Plaines, IL for a development project in Chicago's O'Hare submarket. The partnership will construct the Northeast O'Hare Industrial Center - a state-of-the-art warehouse and distribution building totaling approximately 140,000 square feet, featuring 32' clear height, ample loading, trailer parking, and auto parking.
Thoma Bravo has signed a definitive agreement to invest in Segall Bryant & Hamill, an independent, employee-owned, investment management firm based in Chicago with more than $9 billion in assets under management. Financial terms were not disclosed.
Singapore warehouse and industrial park developer Ascendas has set up a programme with a target asset size of S$600 million ($481.60 million) to invest in Indian real estate, focusing on business space, writes Reuters. Singapore sovereign wealth fund GIC is a principal investor in the programme.
Dutch food and chemicals group DSM is spinning off its pharmaceuticals division in a $2.6 billion deal with private equity firm JLL, pushing DSM's shares up more than 3 percent, writes Reuters. The new company will develop and manufacture drugs under contract for the pharmaceutical industry and is expected to have annual sales of about $2 billion, DSM and JLL said in a statement.
The East Capital Financials Fund sold its 23.7 percent stake in PT Platinum Ltd, the holding company which owns 100 percent of Platinum Bank in Ukraine. The sale realised a total cash on cash return of 28.5% for the fund in euro terms since original investment in 2007. The buyers of ECFF’s stake were a group of financial investors, including European Infrastructure Investment Company.
Fairfax Financial Holdings Ltd has agreed to acquire a majority interest in privately held Keg Restaurants Ltd, which owns over 100 steak house restaurants in Canada and parts of the United States, Reuters reported. The terms of the deal, which is expected to close early next year, were not disclosed.
Nautilus Plus Inc, a St-Hubert, Québec-based operator of a chain of 39 fitness centres, has secured a $20 million investment from Canadian pension fund manager the Caisse de dépôt et placement du Québec and private equity firm BMO Capital Partners. The investment will enable the company to continue expanding its corporate network. The Caisse de dépôt and BMO join existing investor in Nautilus Plus, Novacap Industries, which is managed by Longueuil, Québec-based private equity firm Novacap. Novacap first invested in the company in partnership with management in 2008.