Private equity investor EQT Infrastructure has acquired a majority stake in Argos Terminals, the storage and terminal business of BeNeLux-based oil company Argos Group. Financial terms of the deal were not disclosed, though the company said Argos Group would retain a minority stake. The deal is expected to close in July.
Visa will pay $110 million to buy mobile financial services tech company Fundamo. Fundamo’s technology provides mobile financial services to unbanked and under-banked consumers. The company is based in Cape Town, South Africa, and is backed by investors including Sanlam, Remgro Limited and HBD Venture Capital. The deal is expected to close by September.
U.S. Renal Care, which is backed by several sponsors including Cressey & Co., failed to find a buyer earlier this year and is now paying a dividend to its shareholders, four sources say. Plano, Texas-based U.S. Renal Care, which provides outpatient dialysis services, was up for sale during the spring, three people say. U.S. Renal was looking to sell for multiples that were “pretty lofty,” one source says. The company was looking for bids in the 8-9x range and the market was offering 6-7x, the source says. One banker says U.S. Renal received lots of offers but decided to pass.
Let’s Hope THIS One Doesn’t Contaminate, Um, Everything: Tony Hayward files for IPO to raise £1 billion for Vallares We Should Have Done That in 1998: Turns out the NYT’s paywall was a good idea SPACs! Are they back (preview: probably not, but here’s a new one anyway!) Spooked? Ambit Biosciences withdraws its IPO registration
Schneider Electric SA will pay $650 million to acquire China’s Leader & Harvest Technologies Holdings Ltd., Reuters reported. The deal provides a strong exit for owners Affinity Equity Partners and Unitas Capital, which are pulling in more than three times their initial, $200 million investment, made in 2009.
(Reuters) – U.S. private equity firms TPG Capital and Carlyle Group are in talks to buy a stake in the tower unit of Indian telecom company Reliance Communications , Bloomberg reported, citing people with knowledge of the matter. Reliance Communications, controlled by billionaire Anil Ambani, has also received interest from Blackstone Group and London-based Apax […]
BHMS Investments has made a controlling equity investment in The Hilb Group, an insurance broker that provides property and casualty, life and health and employee benefits products and services. New York-based BHMS is a private investment firm that focuses on the lower middle market.
BOSTON, June 8 (Reuters) – Private equity firm Terra Firma, which made a high-profile, ill-fated investment in music group EMI, is expected to start officially marketing its new fund early in 2012, a source familiar with the firm’s plans said on Wednesday. Terra Firma has been preparing the ground for a new fund and in […]
Tailwind Capital has refinanced VersaPharm's $30 million debt. Madison Capital Funding provided a senior credit facility as part of the deal. VersaPharm, of Marietta, Ga., is a generic pharmaceutical company backed by Tailwind.
David M.V. Barnes will join Imperial Capital as a managing director and head of its financial sponsors coverage team in the investment bank’s LA office. Previously, Barnes had been with investment bank Houlihan Lokey.