Calgary-based Logan International Inc., a company that manufactures down-hole fishing and intervention tools for the oil and gas industry, has through its U.S. subsidiaries purchased certain assets and operations of the Sup-R-Jar drilling equipment business from Smith International Inc. for C$17.2 million. The transaction is expected to close this month. Logan is a portfolio company U.S. private equity firm Cadent Energy Partners.
Ernst & Young has completed its acquisition of Semphonic, a digital measurement and data analytics consulting firm. The merchant bank Clearsight Advisors served as the exclusive strategic and financial advisor to Semphonic, the firm announced today. PRESS RELEASE: Clearsight Advisors, Inc. (“Clearsight”) is pleased to announce the successful completion of a strategic transaction in the […]
The Dallas-based exploration company Armada Oil and Mesa Energy Holdings today announced the closing of the asset purchase agreement and completion of the business combination of Armada Oil and Mesa on March 28, 2013. In completing the transaction, Armada Oil has acquired 100% of Mesa Energy, a wholly owned subsidiary of Mesa that holds substantially all of the assets of Mesa. In return, Mesa stockholders will be issued 0.40 shares of common stock of Armada Oil for each share of Mesa that they own as of the close of business on March 27, 2013.
North Castle Partners has invested an undisclosed amount of growth capital into Ignite USA, a developer and marketer of reusable, environmentally friendly thermal mugs and hydration bottles.
Private equity firms TPG Capital and Madison Dearborn Partners are the two finalists bidding for National Financial Partners, a New York-based wealth management company with a market value of nearly $900 million, Reuters reported. NFP - run by Jessica Bibliowicz, the daughter of former Citigroup chief Sandy Weill - could be valued at around $1 billion in a deal, the people said on Wednesday, asking not to be named because details of the auction are confidential.
A major private equity firm, not based in the U.S., will likely join the ranks of seven large buyout shops that invest globally, says David Rubenstein, the Carlyle Group's co-CEO and co-founder.
Middle-market private equity investor MidOcean Partners has made a “significant equity” investment in Noranco Inc., a supplier of machined and sheet metal components to the aerospace industry. Noranco is based in Toronto. Specifics of the deal were not disclosed.
CapMan announced that it has sold Cardinal Foods to a company formed by Swedish agricultural cooperative Lantmannen Group and private equity firm CapVest. CapMan originally invested in Cardinal Foods in 2005 through the acquisition of two independent poultry and egg production companies.
Brazilian homebuilder Gafisa SA received four offers for its high-end Alphaville unit, including from Sam Zell's Equity International, a local newspaper reported on Wednesday. Gafisa owns 80 percent of Alphaville, which could be worth about 1.8 billion reais ($891 million). The sale would help Gafisa reduce its debt, which is among the highest in Brazil's construction sector.
The sale of German energy metering firm Ista is heating up as a number of buyout houses including Axa Private Equity and BC Partners prepare to submit second round bids, Reuters wrote on Wednesday. Private equity groups Charterhouse and CVC Capital Partners kicked off the sale of Ista last year, hiring Deutsche Bank and Goldman Sachs to run the process.