Unitas Capital Pte. Ltd.’s Chief Executive Officer Andrew Liu expressed an interest in the auction of 3i Group’s PLC’s Hyva, Reuters said. Liu didn’t mention the Netherlands-based pump maker by name, but the comment was made when asked about Hyva’s auction at the AVCJ Private Equity Forum.
Billionaire investor Carl Icahn increased his stake in Dynegy Inc. to 12.9 percent from about 9.95 percent and will offer a $2 billion credit to the Houston,Texas-based electricity producer, Reuters said. Icahn also plans to oppose Blackstone Group LP’s offer to acquire the Dynegy for $543 million, or $4.7 billion including debt.
Graham Partners completed a majority investment in Strata Products Worldwide, an Atlanta, Ga.-based provider of products and services used for infrastructure and miner safety. Graham Partners is a Pennsylvania-based private equity firm that specializes in middle market manufacturing companies.
Top App: FarmVille is still the most popular Facebook app but guess what comes in second? Shocker: Cisco plunges after forecast falls short of estimates. Twitter Isn't a Social Network: Who are all these Tweeple, from Brian Solis. Free Speech or Not: Amazon removes pedophile how-to-guide book No FB: Google isn't building a Facebook rival. Also, Google fires engineer that leaked memo about 10% pay raise. No Deal: Symantec is not up for sale and the company hasn't hired bankers...yet.
Accent Equity Partner AB agreed to acquires property protection company Troax from the Gunnebo AB. Stockholm, Sweden-based Accent plans to complete the transaction together with Troax’s management. Troax is based in Hillerstorp, Sweden. Financial terms were not disclosed.
Earlier this week, I reported on Burlington Coat Factory’s plan to pay a dividend to its PE shareholders, namely Bain Capital. Burlington Coat Factory is raising $1.5 billion in new debt. The company is selling $500 million in unsecured notes and is in the market for a $1 billion term loan. Of the $1.5 billion, I’m hearing from a source that about $300 million will go to pay a dividend to Bain. The rest is expected to be used to repay debt. Bain acquired Burlington Coat Factory, which sells coats and women’s sportswear, in 2006 for $2.06 billion.
The fundraising market may be difficult right now, but that's not stopping AXA Private Equity, which has begun marketing for its fifth fund, peHUB has learned. Paris-based AXA Private Equity began fundraising two weeks ago. The pool, expected to come in at $4 billion, will be a “regular secondaries fund,” a source says. AXA Private Equity’s last fund raised $2.85 billion in 2006. It’s not clear how much is invested.
Wafra Partners and its affiliates acquired All Island Media Inc. Financial terms were not disclosed, but .Wafra can invest up to $30 million in equity per deal. All Island Media publishes and distributes Pennysaver News, Town Crier and other titles to more than 750,000 homes and businesses in Nassau and Suffolk counties, N.Y.
TA Associates Inc. of Boston, Mass., made a minority investment in MedSolutions, which is a provider of medical management services. MedCare and Ridgemont Equity Partners will each retain a part of their stake in the Nashville, Tenn. -based company. Further details of the investments were not disclosed.
IK Investment Partners agreed to buy EPiServer Group AB from Amadeus Capital, Martin Bjäringer, Monterro Holdings, Northzone Ventures, Mikael Runhem and family and employees of the Swedish software company. Financial terms were not disclosed. IK Investment is a Pan-European private equity firm.