Dallas-based private equity firm Insight Equity Holdings has acquired Saiia Construction, a site construction and civil maintenance company focused on the mineral industry. Saiia is based in Birmingham, Alabama. Financial terms of the deal were not released.
Though I’m in Quebec for the Quebec City Conference, I couldn’t resist the news that Dunkin’ Brands is raising about $2 billion, at least part of which is earmarked to fund a dividend to its PE shareholders. Dunkin’ Brands, which is owned by Bain Capital, the Caryle Group and THL Partners, said Monday that it’s in the market for a $1.3 billion loan. The company is also raising $625 million in senior notes, according to the statement.
Secondcap, a new platform for selling stakes in PE funds, is expected to launch next year. London-based Secondcap will be cheaper than a broker, which typically charges a 2% fee per transaction, according to the Financial Times. The online firm is expected to remove much of the hassle and manual processes of selling secondary interests. The platform will also allow investors to trade more than 2% of a U.S. PE fund per year without changing the tax treatment of the general partner under publicly traded partnership rules, the FT says.
Bain Capital Partners LLC’s Giraffe Acquisition Corp. commences its tender offer for Gymboree Corp. The bid is for $65.40 a share, or a total of $1.8 billion. The deal was previously unanimously approved by Gymboree’s board. Gymboree is a specialty retailer with 1,037 stores, as of Oct. 2.
(Reuters) – Tribune Co filed a reorganization plan late on Friday that will turn over control of the bankrupt newspaper publisher to its leading creditors including JPMorgan Chase & Co, Angelo Gordon & Co and Oaktree Capital Management. The plan signals an important step toward the recovery of the media company — which owns the […]
(Reuters) – U.S. buyout firm JC Flowers could bid for four British customer-owned mortgage lenders as part of a plan to create a new “supermutual” that could be partly listed in London, the Observer newspaper reported on Sunday. The West Bromwich, Skipton, Norwich & Peterborough and Principality building societies could all get bids from JC […]
(Reuters) – CommScope Inc (CTV.N: Quote, Profile, Research, Stock Buzz) said it is in talks with private equity firm The Carlyle Group [CYL.UL] regarding a potential acquisition that would result in the communications cable maker becoming a private company. Under the terms of the potential agreement, Carlyle would acquire all of the outstanding shares of […]
Oil and gas explorer and producer Triangle Petroleum Corp. formed a joint venture with Oppenheimer Global Resource Private Equity Fund I and a related co-investment fund (OGR). Both funds are managed by an affiliate of New York-based Oppenheimer & Co. Inc. OGR made a $25 million commitment to co-invest with Triangle for asset acquisition and development in the North Dakota Bakken Shale play. OGR received a right to participate in up to 25 percent of Triangle activity in the Williston Basin.
Institutional Limited Partners Association said Friday that Timothy Recker was appointed the group's chairman effective Sept. 30. Recker is an MD with the University of California Regents where he is responsible for PE program that has over $5 billion in assets under management. ILPA also appointed John Breen to vice chairman, Jim Pittman to treasurer, Dhvani Shah to chair of the education committee and Michael Mazzola to chair of research, benchmarking & standards committee, according to a statement. ILPA, of Toronto, is a not-for-profit association that serves LP investrs in the PE industry.
ICV Partners has invested in Mallet & Co., a Carnegie, Pa.-manufacturer of proprietary oils, ingredients and equipment used in the commercial baking industry. ICV Partners is a private investment firm with offices in New York and Atlanta.