Blackstreet Capital Partners has acquired a controlling interest in Western Capital Resources Inc. (OTC BB: WCRS), an operator of 55 cash advance locations in the Midwestern U.S. and 34 prepaid wireless outlets. No financial terms were disclosed.
When writing about the Elevation Partners portfolio last month, I gave particular attention to its investment in Palm. As one source summed it up: “As goes Palm, as goes Elevation.” The reason, of course, is that Elevation has invested just over 25% of its $1.8 billion fund in Palm, via a series of commitments. Such over-allocation apparently was permitted by the fund’s LPA, but it is leading Elevation down a path well-worn by other private equity firms. Basically: If you invest 15% or more of your portfolio in a single company, you are just begging to be knocked to the ground. Remember these moldy oldies: Forstmann Little pumping $1 billion into McLeod USA (not to mention its big bet into XO Communications)? Or how about Parthenon Capital plugging around 20% of its second fund into
JW Asset Management has acquired Arbor Pharmaceuticals, a Raleigh, N.C.-based pediatric drug developer. No financial terms were disclosed.
MUMBAI (Reuters) – U.S. private-equity firm Kohlberg Kravis Roberts & Co is in talks to buy a controlling stake in Indian back-office service provider Firstsource Solutions (FISO.BO), three sources with direct knowledge of the matter said. KKR is negotiating to buy a stake totalling about 68 percent of the IT services company from No. 2 […]
CCMP Capital has completed its acquisition of a 37% stake in Oklahoma City-based oil and gas producer Chaparral Energy, for $345 million.
Roark Capital Group has acquired Wingstop Restaurants Inc., a Richardson, Texas-based chain of more than 650 chicken wing restaurants in operation or in development. No financial terms were disclosed.
Roll Coater Inc., a portfolio company of Willis Stein & Partners, has acquired the coil coating assets of Material Sciences Corp. The deal was valued at $10 million.
EducationDynamics, a provider of marketing services to the education sector, has acquired Education Connection, a resource that helps prospective students find suitable colleges, from Kaplan. No financial terms were disclosed. EducationDynamics is a portfolio company of Halyard Capital.
Green Bank, a Houston-based bank focused on the middle-markets, has raised $115 million in private equity funding from Friedman Fleischer & Lowe, Harvest Partners and Pine Brook Road Partners. No one firm will own more than 24.9% of Green Bank's common stock through the deal, which is subject to regulatory approval.
(Reuters) – The court-appointed trustee in charge of recovering money for creditors in the Buffets Holdings Inc bankruptcy case has sued former owners of the company, claiming they “bilked Buffets of hundreds of millions of dollars,” leaving it insolvent. The trustee, JLL Consultants Inc, claimed in a lawsuit filed last Wednesday that private equity firms […]