Australian surfwear company Billabong International, which had potential buyers withdraw takeover offers last month, said one of its directors wanted to investigate a possible leveraged buyout of the firm, writes Reuters. Private equity firms TPG and Bain Capital withdrew from $700 million bids for the struggling retailer, according to Reuters.
The Resolute Fund, an affiliate of The Jordan Company, has partnered with the management team of Sequa Automotive Group to purchase the business from its parent company, Sequa Corporation, an industrial company with operations in aerospace and metal coatings. Financial terms of the transaction were not disclosed.
Leeds Equity Partners is to sell Ex Libris™ Global Holdings to Golden Gate Capital, a San Francisco-based private equity investment firm. Terms of the transaction were not disclosed. Ex Libris is the leading provider of cloud-based and on-premise content and knowledge management software solutions for academic and research institutions.
Heelys has announced a special meeting related to the sale of its assets, a plan of liquidation and dissolution and related matters. Reuters reported in October that the maker of children’s sneakers with wheels in them, was selling itself to Evergreen Group Ventures. Evergreen Group Ventures has informed the company that it plans to continue producing, distributing and marketing shoes under the Heelys brand name after completion of the sale.
Vicente Capital Partners has acquired a controlling stake in Intellectual Technology. Financial terms were not announced. Carlsbad, Calif.-based ITI provides on-demand printing and fulfillment solutions to modernize DMV operations and services. Imperial Capital provided financial advice to ITI.
Monitor Clipper Partners, along with Augusto Orsini, have jointly acquired Sengewald Klinikprodukte GmbH. Financial terms were not announced. Rohrdorf, Germany-based Sengewald produces drapes, gowns, and custom procedure trays for surgical theaters.
Graphic Packaging Holding Co. has agreed to buy Contego Cartons. Platinum Equity is the seller. Graphic Packaging will pay approximately £71 million (US$112.7 million) in cash and assume approximately £10 million (US$15.9 million) in other net liabilities. Contego Cartons operates three folding carton facilities that convert about 150,000 tons of paperboard annually into folding cartons for […]
strong>Hostess Brands Inc, the bankrupt maker of Twinkies snack cakes and loaves of Wonder Bread, is seeking a U.S. court's permission to go out of business after failing to get wage and benefit cuts from thousands of its striking bakery workers.
Buyout firm Welsh, Carson, Anderson & Stowe has ended talks on the sale of payment processing company TransFirst to pursue a dividend recapitalization, as potential buyers held out for combining it with a unit of private equity-owned peer WorldPay, sources said. Welsh Carson had hired investment boutique Financial Technology Partners to explore a sale of TransFirst, hoping to fetch between $1.3 billion and $1.5 billion in a sale, people familiar with the matter told Reuters in September.
Parthenon Capital Partners has agreed to buy White River Capital. The deal includes Coastal Credit, a specialized auto finance company headquartered in Virginia Beach, Va. The transaction is valued at about $79.5 million. OP Trust, a Parthenon LP, will be investing in the deal. Milestone Advisors provided financial advice to White River.