NEW YORK (Reuters) – Private equity firm Golden Gate Capital has increased its stake in Zale Corp (ZLC.N) and become the jewelry store operator’s largest shareholder. Golden Gate, which took a 19.9 percent stake in Zale in May and lent the struggling retailer $150 million, exercised warrants to buy another 4.7 million shares, bringing its […]
Like a phoenix, the California Pizza Kitchen auction has apparently risen from near death and could see a sale soon. American Securities Capital Partners is in advanced talks to buy the restaurant chain, as first reported by the NY Post and later confirmed by Reuters. Barclays and GE are providing financing.
The Sterling Group has completed its acquisition of New Orleans-based B&G Crane Services LLC. No pricing terms were disclosed. Debt financing was provided by Wells Fargo Capital Finance, BNP Paribas, Capital One Leveraged Finance and Whitney Bank.
Vector Capital has completed its $145 million take-private acquisition of Trafficmaster PLC, UK-based vehicle tracking company.
Genstar Capital has acquired Evolution Benefits, an Avon, Conn.-based provider of benefit card payment services for healthcare and employee benefits accounts. No financial terms were disclosed.
(Reuters) – Private equity firm American Securities is bidding for California Pizza Kitchen Inc (CPKI.O), two people familiar with the situation said. The 25-year-old restaurant chain, which has a market capitalization of more than $400 million, said in April that it hired investment bank Moelis & Co as its exclusive financial adviser to consider changes […]
The new federal reform bill could create a burden for smaller private equity firms that are required to register with the SEC, says executives of The Riverside Co. The Dodd-Frank bill, signed into law last week, requires that private equity firms, with $150 million or more in capital, register with the SEC no later than July 2011. Previously, only firms with 15 funds or more were required to register.
Canadian Stock Transfer Company Inc., a portfolio company of Pacific Equity Partners, has agreed to acquire the Issuer Services business of CIBC Mellon Trust Co. No financial terms were disclosed.
The Financial Times recently reported that private equity firm Apollo Management plans to launch its own bank, by using "an obscure provision buried in the US financial regulations." Or, as the headline writer put it, "Apollo exploits loophole to create new bank." Lots of news outlets picked up on the story -- including us -- because it just sounded so darned significant. But is it actually much ado about very little? That's the argument of law firm Wachtell Lipton, according to a July 26 client memo obtained by peHUB. It reads:
PARIS (Reuters) – Danone (DANO.PA) is selling its 22.98 percent stake in Chinese fruit juice company Huiyuan Juice Group (1886.HK) for around 200 million euros ($258 million) to Hong Kong-based private equity group SAIF partners. The sale is in line with the French food group’s strategy to focus its water division on natural mineral and […]