Penton Media, which is backed by MidOcean Partners and Wasserstein & Co., has appointed Nicola Allais as executive vice president and CFO. Allais replaces Jen Clifton who left in August. Penton, of New York, is a business-to-business media company.
Blackstreet Capital has recapped Swisher Mower & Machine Co., a Warrensburg, Mo.-based make and distributor of lawn & garden power equipment. Chevy Chase, Md.-based Blackstreet is a PE firm. News of the deal was announced by Livingstone, which acted as financial adviser to Swisher.
Engineered materials company Polymer Group is being acquired by Blackstone Capital Partners. The Charlotte, N.C.-based company, which has been searching for a buyer for the last six months, is being purchased for $326.2 million in a cash transaction. PRESS RELEASE: Polymer Group, Inc. (PGI) (OTC Bulletin Board: POLGA/POLGB) today announced it has entered into a […]
The Charterhouse Group said Monday it has completed its $260 million sale of Chamberlin Edmonds & Associates to a unit of Emdeon. Atlanta-based Chamberlin Edmonds provides patietn advocates and eligibility services to hospitals.
Books for Pioneer Investments aren’t out yet but the possible sale looks like it has shifted. UniCredit Group, which is looking to sell all of Pioneer, wants to combine the business with another asset manager and retain a take, two sources say. "Unicredit wants to do a contribution transaction," a banking source said. I initially thought UniCredit’s strategy was similar to Morgan Stanley’s sale of its retail funds unit earlier this year to Invesco. Morgan kept a 9% stake in the funds business. However, I’m being told that UniCredit’s plans are more similar to Credit Agricole, which bought part of Societe General’s asset management arm. The banks, in 2009, created Amundi, their combined asset management arm which is 75% owned by Credit Agricole and 25% owned by Societe General.
NetSpend, the prepaid debit card company that is backed by JLL Partners and Oak Investment Partners, plans to brave the IPO waters next week. Austin-based NetSpend is expected to price its IPO on Thursday, Oct. 13, a source familiar with the matter said. The company is expected to trade under the ticker "NTSP." NetSpend provides reloadable prepaid debit cards to the underbanked U.S. consumer. Today, NetSpend set the terms of its offering: 18.5 million shares at $10 to $12 each via book runners Goldman Sachs, BofA Merrill Lynch and William Blair & Co. Other underwriters on the deal include SunTrust, Wells Fargo Securities, Duncan Williams and Knight/Houlihan Lokey.
Invest AD, the Abu Dhabi private equity firm, has launched an Iraq Investment Fund to invest in high-growth companies in the stabilizing Iraq. The new fund is open to institutional and high-net-worth investors in early October, Invest AD said. Iraq has the world’s third-largest proven oil reserves and has signed 11 oilfield deals with major international oil firms, which are expected to lift the country’s capacity from 2.5 million to 12 million barrels per day.
Teachers’ Private Capital, the private investment department of the Ontario Teachers’ Pension Plan, has agreed to sell GCAN Insurance Company to RSA Canada, the firm announced. Teachers’ Private Capital bought GCAN, a Canada-based commercial property and casualty insurer, through Glenstone Capital in 2005. The purchase price of GCAN is approximately $420 million.
Colony Capital, the California-based private equity real estate firm, says it will continue to expand its hospitality and consumer business in the Gulf Arab region. Colony is the largest shareholder in Carrefour, the French retail company, and has large investments in Fairmont Hotels and Accor (where it is the largest shareholder), the world’s fourth-largest hotel group.
U.S. real estate investment company Rockefeller Group is reportedly in talks to buy London-based property fund manager Europa, according to the Financial Times. Europa is not believed to have solicited any offers, the report said. The Financial Times claims that Rockefeller would operate Europa’s private equity real estate strategy.