(Reuters) – Outdoor advertising company Clear Channel Outdoor Holdings Inc (CCO.N) posted a narrower-than-expected quarterly loss, helped by improved advertising spending and lower expenses. First-quarter net loss narrowed to $48.8 million, or 14 cents a share, from $91.4 million, or 25 cents a share, a year ago. Revenue rose 5 percent to $608.8 million and […]
Silver Lake Sumeru has invested an undisclosed amount in flash memory company Spansion Inc., which earlier this week emerged from Chapter 11 bankruptcy.
Contrax Furnishings, a Gainesville, Fla.-based provider of furnishings and equipment to educational institutions, hass raised an undisclosed amount of private equity funding from Hudson Ferry Capital. McGladrey Capital Markets advised Contrax on the deal.
International Absorbents Inc. (NYSE IAX) shareholders have approved a $4.75 per share buyout by private equity firm Kinderhook Industries. International Absorbants makes consumer and commercial products derived from recycled, renewable materials.
Levine Leichtman Capital Partners has agreed to acquire the franchise business of NexCen Brands Inc. (OTC BB: NEXC) for $112.5 million. The deal includes all of NexCen's interests in Great American Cookies, MaggieMoo's, Marble Slab Creamery, Pretzelmaker, Pretzel Time, The Athlete’s Foot and Shoebox New York.
NEW YORK (Reuters) – U.S. clothing company Express Parent LLC (EXPR.N) priced shares in its initial public offering below the expected range on Wednesday, according to an underwriter. The Columbus, Ohio-based company sold 16 million shares for $17 each, raising about $272 million. It planned to sell 16 million shares for between $18 and $20 […]
NEW YORK (Reuters) – Private equity firm Silver Lake is considering joining the consortium bidding for Fidelity National Information Services Inc (FIS.N), two sources familiar with the matter said on Wednesday. The current consortium in talks to buy the company, which provides payment processing and other banking services, is made up of Blackstone Group (BX.N), […]
Know thyself, Socrates might have said, but you should also know thine enemy. Unfortunately, the enemy doesn't always look like one - as many veterans of failed deals can attest. In a financial world that runs on relationships, our ability to read the room and sense when appearances are deceptive is not always the best. The fraudsters and bad apples are making it very hard for honest people in finance to earn a living. They have also given Congress a reason to live. One of the mandates of financial reform is to keep so-called "bad actors" from being able to participate in private placements. Bad actors -- formerly known as "bad boys" in 1996'S NSMIA before these gender-neutral times -- include anyone with felony or misdemeanor convictions in connection with the purchase or sale of any security. If the amendment goes through, private equity will have to get as used to running background checks as banks currently are. peHUB spoke with Kroll senior managing director Peter Turecek, who specializes in due diligence and business intelligence. Turecek gave us a primer on how private equity players should think about the brave new world of background-checking.
Crestview Partners has invested $125 million into oil services company SES Holdings LLC, which operates both Select Energy Services LLC and Bell Supply Company. The deal gives Crestview a 45% equity stake, plus the option to invest an additional $50 million at the same valuation and terms.
Imperial Capital Group has acquired Petra Pet Inc., owner of the Beefeaters brand of pet treats. No pricing terms were disclosed. BMO Bank of Montreal provided debt financial.