Global investment firm Avenue Capital Group said Friday that it has bought a portfolio of UK-based purpose build student accommodation assets from KPMG. No financial terms were disclosed. Savills arranged the sale.
According to the Wall Street Journal, fashion company Fifth & Pacific, once known as Liz Claiborne, will no longer sell Lucky Brand to private equity firm Advent International Corp. However, the paper reports that Fifth & Pacific does have other potential buyers lined up. Lucky Brand is a denim retailer and manufacturer.
Watchfire Signs has been acquired by The Jordan Company, a New York-based middle-market private equity firm. No financial terms were disclosed. All of Watchfire Sign's management team, which include President and CEO Steve Harriott and CFO Frank Dwyer, will remain and continue in their positions. Headquartered in Danville, Illinois, Watchfire Signs is a provider of LED signs and digital billboards.
Jarden Corp. has completed its buy of Yankee Candle from Madison Dearborn Partners for approximately $1.75 billion in cash. Yankee Candle is a maker and retailer of scented candles.
Solera Holdings, an auto insurance software company, has agreed to pay $289 million for an equity interest in Welsh Carson Anderson & Stowe-backed Service Repair Solutions. The deal is expected to close in 2014.
ABRY Partners-backed Confie Seguros, a provider of personal insurance, has acquired three insurance brokerages -- James S. Sullivan Agency and Advanced Auto Insurance, which provide personal insurance in Western and Central New York, and Family Insurance, in Corpus Christi, Texas, a provider of personal lines auto insurance. The acquisitions are part of Confie's strategy to expand throughout New York State and Texas.
Joe's Jeans has completed the $97.6 million acquisition of Fireman Capital Partners-backed Hudson Clothing Holdings, a designer and marketer of denim apparel. Financing consisted of a $50 million revolving credit facility from CIT Trade Finance as agent and a $60 million senior term loan from affiliates of Garrison Investment Group as agent.
The previously announced US$4.4 billion acquisition of Hub International Ltd, a global insurance brokerage, by U.S. private equity firm Hellman & Friedman has been completed. The private equity sellers are Apax Partners and Morgan Stanley Principal Investments, which bought the company for US$1.8 billion in 2007. The Chicago-based Hub was founded in 1998 through a merger of 11 Canadian insurance brokerages and continues to have significant operations and employees in Canada. Canadian counsel on the deal was provided by Torys LLP.
(Reuters) - Dozens of strategic and private equity players including Bloomberg News and Warburg Pincus are circling Pearson's financial news provider Mergermarket ahead of an Oct. 7 deadline for first-round bids, several industry sources close to the deal told Reuters.
KPS Capital Partners said Thursday that it has agreed to acquire Furniture Brands International for $280 million. KPS has also agreed to provide Furniture Brands, which filed for Chapter 11 on September 9, 2013, $190 million in DIP financing to support its operations.