Masharie, an investments subsidiary of Dubai Investments has sold a strategic equity stake in Anchor Allied Factory to Alkhabeer Capital, Saudi Arabia. The investment was made through Alkhabeer’s asset management private equity division.
Tim Scronce, former TelWorx CEO, has started a private equity group focused on funding businesses in the southeastern region of the United States. Scronce & Associates will concentrate on businesses in transition that produce annual revenue of $15 million or less.
Golden Equity Investments has acquired Innovative Medical Device Solutions, a contract manufacturer of medical implants and instruments for the Orthopaedic market. Golden Equity Investments is a private equity firm based in Golden, Colorado.
Private equity firm KKR has teamed up with New Mountain Capital to bid for IMG Worldwide, joining a handful of companies interested in buying the sports, fashion and marketing agency from Forstmann Little & Co, writes Reuters. KKR and New Mountain would be competing for IMG against other buyout firms, as well as sports and entertainment companies, Creative Artists Agency and William Morris Endeavor Entertainment, writes Reuters.
A handful of potential bidders, including private equity firms, are lining up to look at BlackBerry, but initial indications suggest interest is tepid and buyers are eyeing parts of the Canadian smartphone maker rather than the whole company, writes Reuters. However, one possibility is for a Canadian pension fund to team up with an investor to buy the whole company, which is currently worth a little more than $5 billion, writes Reuters.
Bahrain-based Investcorp acquired a 25 percent stake in Saudi Arabia's sports and fitness business Leejam Sports Co, the ninth investment in the company's $1 billion Gulf Opportunity Fund, writes Reuters. As part of the deal, Investcorp will have a board seat at Leejam. Financial details were undisclosed.
Private equity deals have slowed this year and healthcare is one of the sectors taking the biggest hit, sister publication peHUB reported.
Private equity deals have slowed this year and healthcare is one of the sectors taking the biggest hit.
BlackBerry's biggest shareholder has approached several large Canadian investment funds about forging a deal to take the smartphone maker private, but the proposal is still "an airy-fairy, 'what if' kind of thing," according to a source with direct knowledge of the situation. The shareholder, Fairfax Financial Holdings Ltd., has a 10 percent stake. The funds, including Canada Pension Plan Investment Board and Ontario Teachers' Pension Plan, declined to comment.
Canadian retailer Hudson's Bay Co. ((TSX: HBC) moved one step closer to its proposed acquisition of Saks Inc. (NYSE: SKS) with the latter company's announcement that the 40-day "go-shop" provision in the July acquisition agreement expired on September 6. Saks is now subject to customary “no-shop” provisions. HBC, which is backed by U.S. private equity firm NRDC Equity Partners, agreed to purchase Saks for around US$2.9 billion. The deal is expected to close before the end of 2013.