Resilience Capital Partners said Tuesday that it has acquired Indiana Limestone Co. Financial terms were not announced. Cleveland-based Resilience Capital is a PE firm. Limestone Co., of Bedford, Ind., provides Indiana Limestone in North America.
The Blackstone Group said Tuesday that it has raised its offer for Dynegy to $5 a share, up from its previously agreed upon price of $4.50 a share. The New York PE firm said in the statement that the $5 proposals remains its "best and final offer." The increase comes after two of Dynegy's largest shareholders have criticized Blackstone's bid as too low.
Now, for a bit of crowing. Centerbridge Capital Partners LP, a New York buyout shop, announced yesterday that it had acquired Rock Bottom Restaurants and Gordon Biersch Brewery Restaurant Group. The companies will operate as subsidiaries of CraftWorks Restaurants & Breweries, the holding company formed by Centerbridge. There are no plans to to rebrand or close any units, according to a statement. Financial terms weren't announced. Rock Bottom was owned by founder Frank Day and his investment goup while Gordon Biersch Brewery was majority owned by Hancock Park Associates. Both are selling. Day will serve as chairman of Craftworks. Allen Corey, an original investor of Gordon Biersch and the company's CEO, will become president and CEO of Craftworks. I reported in October that Centerbridge was in talks to acquire Rock Bottom, which operates 102 casual dining restaurants, including 38 Brewery restaurants and 64 Old Chicago restaurants.
The professional services firm Alvarez & Marsal, which advises PE firms, hedge funds, and corporates and already has roughly 40 offices around the globe, has just opened a new office in Hong Kong. The office will be led by Managing Director Thomas Jones and Oliver Stratton, formerly the head of Bain & Co’s Hong Kong […]
Every year I face the same problem: how to cook a 10 lb. turkey in a tiny New York City kitchen. The lack of counter space, the child-sized oven, no place to serve my guests, all add up to a rough day. This morning, I received an email from Sun Capital which—if it’s true—looks like a godsend. The Boca Raton, Fla. PE firm sent out a coupon this morning saying Boston Market will cook my Thanksgiving meal for me. Of course, this starts at $5.42 a person. Now I'm not saying I'm going to do it. But to anyone who's faced my situation, the opportunity looks inviting.
Pamlico Capital of Charlotte, N.C., acquired ATX Networks from Trivest Partners. Members of management re-invested in partnership with Pamlico Capital to complete the transaction. Financial terms were not disclosed. ATX Networksof Ajax, Ontario, provides radio frequency management equipment.
Interactive Technology Solutions, which is backed by Snow Phipps Group, said Monday that it has acquired the outstanding stock of Peace Technology Inc. Financial terms were not announced. Laurel, Md.-based Peach provides technical services to design and manage complex applications for federal, state and local governments. ITSolutions, of Silver Spring, Md., is a management and information technology services company. Snow Phipps is a NY PE firm.
Greenleaf Power, which operates biomass power plants, said Monday that it has acquired a 28-megawatt biomass power plant from the Town of Scotia. Financial terms were not announced. Sacramento, Calif.-based Greenleaf is backed by Denham Capital Management, an energy-focused PE firm.
SavATree said Monday that it has acquired DeerTech, which is backed by Ropart Asset Management and BEV Capital. Financial terms were not announced. SavATree provides tree, shrub and lawn care services. Ropart is a PE firm while BEV Capital is a VC firm. DeerTech provides products to protect shrubs and plants from hungry deer.
Avantor Performance Materials said Monday that it is renaming its Mallinckrodt chemicals brand line to Macron Chemicals. The name change will be implemented on March 7. New Mountain Capital, a New York PE firm, acquired Phillipsburg, N.J.-baswed Avantor in August from Covidien. Avantor Performance Materials, formerly known as Mallinckrodt Baker, makes high-performance chemistries and materials under the brand names, J.T.Baker and Macron.