Publicly traded Carpenter Technology Corp. will pay $558 million to buy Latrobe Specialty Metals Inc. As part of the deal, 8.1 million shares of Carpenter stock—worth roughly $388 million—will be issued to Latrobe’s owners, including Hicks Equity Partners and The Watermill Group. Latrobe, which makes high-performance materials for aerospace, defense and energy applications, was acquired by Hicks Equity and Watermill in 2006. Thomas Hicks of Hicks Equity, and Steve Karol of Watermill will join Carpenter's board following the close. The deal is expected to close by September 30.
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European drinks can maker Rexam is selling its lid-making business to private equity-backed Berry Plastics for $360 million, Reuters reported. Berry Plastics, a manufacturer majority-owned by U.S. private equity firm Apollo, expects to close on the cash deal during the third quarter of this year. (Reuters) – Europe’s largest drinks can maker Rexam said it […]
For the second straight summer, limited partners’ views on private equity as an asset class continued to brighten, according to a Coller Capital report released Monday. They’re looking to increase target allocation in greater numbers and LPs say debt markets are functioning well and that dividend recaps are a sign of strength. Nearly one quarter […]
(Reuters) – Private equity firm Carlyle Group CYL.UL is expected to pick JPMorgan Chase & Co, Citigroup Inc and Credit Suisse Group Ltd to lead its initial public offering, two sources familiar with the process said on Friday. Private equity firms are major clients for Wall Street banks, paying them millions of dollars in fees […]
Protective Industries’ management, a manufacturer of plastic protection products (“Caplugs”), Windjammer Capital Investors and ShoreView Capital Partners. Specifics on the transaction were not publicized. Choate, Hall & Stewart LLP acted as legal counsel to Windjammer. Caplugs was advised by Houlihan Lokey Capital, Inc. and the law firm of Sidley Austin LLP.
(Reuters) – It had all the signs of another dotcom bubble: A startup without a convincing business plan or any foreseeable chance of turning a profit saw its shares soar in the first hours after its stock market debut. The difference this time — one that cost some investors money but provided a measure of […]
Welcome to our new feature, TALK BACK, where the writers and editors of peHUB will engage with readers on a topical issue once a week. This week’s topic: the 500 shareholder rule. Yesterday, we reported that House lawmakers are considering expanding the 500 shareholder rule and eliminating certain parties from the new, increased threshold of […]
Scale Venture Partners and Lightbank, the tech investment fund launched by Eric Lefkofsky and Brad Keywell, were joined by New Enterprise Associates, Trinity Ventures and Anthem Ventures in a $23.5 million round of fundraising for Beachmint, a social commerce company for celebrity-created consumer products. Specifics on the transaction were not specified, but Sharon Wienbar, from Scale Ventures, will join the Olsen-twin-affiliated company’s board.
Schutt Sports, the portfolio company of Platinum Equity (the Tom Gores firm that just landed the Detroit Pistons), will buy certain football helmet and faceguard assets that belonged to Adams USA. Schutt will continue to develop the brand under the Adams name. Terms of the deal were not publicized.