HSBC Capital, through its HSBC Private Equity Partners II fund, has acquired Compton, Calif.-based Venture Aircraft. Financial terms of the deal were not released. Venture Aircraft is a manufacturer of precision crafted sheet metal and machined components for the aerospace industry. HSBC Capital is the U.S. and Latin America private equity division of HSBC Group, and has more than $1.5 billion under management.
We finally have some news on Novell. Today, PE-backed Attachmate Corp. agreed to buy Novell for $6.10 a share, or $2.2 billion. Novell also inked a deal to sell certain intellectual property assets to CPTN Holdings, which is a consortium of tech companies organized by Microsoft, for $450 million. The $6.10 a share offer represents a 9% premium to Novell's closing share price on Friday.
Macquarie Infrastructure Partners has acquired two landfill gas-to-energy facilities from Montvale, New Jersey-based Ridgewood Renewable Power. Financial terms of the deal were not released. Macquarie Infrastructure Partners has more than $5.5 billion in committed capital across two funds.
UPS has agreed to sell its logistics technologies unit to Thoma Bravo, a San Francisco PE firm. Financial terms were not announced. The logistics technologies unit, based in Baltimore, Md., creates high-tech transportation routing and fleet management systems.
Middle-market buyout shop American Securities has paid an undisclosed amount for a controlling stake in Arizona Chemical. Jacksonville, Fla.-based Arizona Chemical refines pine chemicals for use in printing inks, paints, adhesives and other products. American Securities is based in New York.
Stant Corp., a manufacturing company backed by private equity firm H.I.G. Capital, has acquired Romeo, Mich.-based Shelby Enterprises. Financial terms of the deal were not released. Shelby Enterprises is a supplier of filler pipe, vapor line and other products for the automotive industry. Connersville, Indiana-based Stant Corp. manufactures vapor and fluid control components.
Scandinavian private equity firm Nordic Capital paid 450 million pounds ($719.2 million) for Britax Childcare, a company owned by U.S. buyout shop the Carlyle Group, Reuters reported, citing an article in the Financial Times. Britax, a U.K.-based maker of child-safety car seats, was bought by the Carlyle Group five years ago for 230 million pounds.
South Korea’s Hana Financial Group has offered more than 4.5 trillion won ($3.98 billion) for a controlling stake in Korea Exchange Bank, Reuters reported. Hana will buy the stake from Dallas, Texas-based private equity firm Lone Star. The deal is expected to be announced later this week, and will make Hana South Korea’s third largest financial services company by assets.
The Palo Alto, Calif.-based private equity firm Symphony Technology Group has hired Salil Pitroda as principal. Pitroda joins from the New York office of New Silk Route Partners, an Asia-focused fund. PRESS RELEASE: Symphony Technology Group (STG), a leading private equity firm focused on investing in software and technology-enabled services companies, today announced that it […]
Covington Capital Corp. of Toronto agreed to pay $5 million toward termination costs associated with the acquisition of five VenGrowth Funds. Covington also agreed to honor the lower management fee structure it negotiated with VenGrowth Funds’ board.