Buyout shop Golden Gate Capital will pay $470 million for California Pizza Kitchen Inc., Reuters reported. The sale price of $18.50 a share represents a 32% premium to the 30-day average price prior to the search for a buyer, the company announced. But the sale price does fall below the company’s 52-week high of $20 per share. Moelis & Co. served as the financial adviser to California Pizza.
Philadelphia-based Eureka Growth Capital has acquired Chicago-based Project Leadership Associates Inc., a provider of information technology and business strategy consulting services. Terms of the deal were not released. The firm did say that it partnered with senior management on the deal, and increased the number of Project Leadership managers that own equity in the company.
Top shareholders of Indonesia's PT Bank Muamalat are looking to sell at least a 51% stake in the unlisted Islamic lender, Reuters reported. A deal for the majority stake could reach about $300 million, Reuters said, adding that PT Bank Permata, a unit of Standard Chartered, Qatar Islamic Bank and OCBC are among the potential bidders. The three shareholders looking for a partial exits are Islamic Development Bank, Boubyan Bank Kuwait, and Saudi Arabia's Atwill Holdings Ltd., Reuters wrote. Combined, the three own 75.7% of the bank.
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New York-based buyout firm Riveria Investment Group has bought a minority stake in staffing and recruiting company JBCHoldings. Financial terms were not disclosed. JBC will use the proceeds from the transaction to fund growth initiatives, the company announced Wednesday. Formed in 2010, Riveria Investment Group focuses on middle-market investments.
Franklin, Tenn.-based Acadia Healthcare, operator of 19 behavioral facilities around the country, is buying Pioneer Behavioral Health of Peabody, Mass. On completion of the merger, Acadia stockholders will own three-quarters of the new company, which will be based in Frankin. Acadia intends for the combined company to be relisted on Nasdaq under the name Pioneer […]
After seven years, Code Hennessy & Simmons is preparing to exit GSE Environmental, two sources say. Code Hennessy, a Chicago PE firm, is considering a dual track strategy for GSE. It is currently interviewing bankers for a sale of the company and an IPO, the sources say. Any transaction will likely occur later this year, one person says.
Connecticut-based Westport Capital Partners and Hong Kong developer Tenacity Real Estate Group sold off a Macau, China office and retail building to an undisclosed buyer in a $125 million deal. The two partnered to acquire the property in 2006 and pumped $10 million in upkeep into it over the five-year hold. Specifics of the transaction were not revealed.
Chicago-based lower middle market investment firm Winona Capital Management put $13 million into Circa Inc., a buyer of jewelry and watches. Circa was advised by Consensus Advisors in the transaction. Specifics of the deal were not publicized.
Waud Capital Partners’ Acadia Healthcare Co. has a deal in place with NYSE-listed PHC Inc. to merge in a deal that will result in the majority of the merged company’s shares being controlled by Acadia backers. Later, Acadia will move the company to the Nasdaq market. In connection with the transaction, Jefferies & Company, Inc. acted as exclusive financial advisor and Arent Fox LLP acted as legal advisor to PHC. Kirkland & Ellis LLP served as legal advisor to Acadia and Jefferies Finance LLC provided financing commitments to Acadia to support the transaction.