Parallax Capital Partners has acquired Daptiv Inc., a Seattle-based provider of on-demand project and portfolio management software and services. No financial terms were disclosed. Daptiv had raised nearly $40 million in VC funding from Bay Partners, Kennet Venture Partners, Pinpoint Ventures and Vault Capital.
Actis has sponsored a management buyout of Mediterranean Smart Cards Co., a Egypt-based electronic payment processor that operates in over 20 African nations. No financial terms were disclosed.
(Reuters) – India’s Angel Broking, a stock broking and wealth management firm, is in talks with private equity firms to raise as much as 3 billion rupees ($64 million), said three sources with direct knowledge of the matter. The company is talking to private equity firms including Blackstone (BX.N), TPG Capital [TPG.UL] and General Atlantic […]
We should have some word on the Modern Luxury Media auction soon. In the meantime, I’ve been given a clue as to the other bidder involved in the process. I’m told that the second party is a radio owner that has some publishing assets. At first blush, I immediately thought of Jeffrey Smulyan, chairman and CEO of Emmis Communications Corp. His Indianapolis-based company has radio stations in New York, Chicago and Los Angeles, as well as Bulgaria. EMMIS has owned magazines since 1988 with a portfolio that currently includes Indianapolis Monthly, Los Angeles Magazine and Country Sampler.
LONDON (Reuters) – BC Partners agreed to sell French frozen-food firm Picard Surgeles to rival Lion Capital, highlighting the keen appetite of private equity firms to strike deals in the recession-resilient food industry. The sale of Picard, which has thrived by persuading France’s fastidious consumers that convenience food can be high-quality, is the country’s biggest […]
Apollo Management’s plans to start a new bank, using a team of execs from Countrywide Financial, has created a lot of buzz and confusion. Buyout shops that acquire more than 25% of a bank are deemed a bank holding company and subject to federal regulations and reporting requirements. Apollo, however, plans to exploit an obscure provision in the new federal reform bill that would let it bypass such conditions. Specifically, it will ask investors to put money alongside it in the new bank, called Ares. The bank also will have a separate board and operate independently. Apollo’s plans are "easier said than done," one buyout executive tell me. Federal regulators will focus on Apollo's control pf Ares and the LPs' relationship to the private equity firm, which may make it difficult for such a scheme to gain approval.
Aqua-Chem, a Knoxville, Tenn.-based maker of osmosis technology and water pretreatment equipment, has acquired Specific Equipment Co., a Houston-based provider of fluid-handling systems for the petroleum industry. No financial terms were disclosed. Aqua-Chem is a portfolio company of Altus Capital Partners.
UPDATE: An agreement has been announced LONDON (Reuters) – Lion Capital made a pre-emptive bid over the weekend to buy French convenience-food company Picard Surgeles from rival buyout firm BC Partners, two people familiar with the matter said on Monday. Lion’s offer, which is likely to place an enterprise value of 1.5 billion euros ($1.94 […]
Graphite Capital has sponsored a 45 million management buyout of Teaching Personnel, a UK-based provider of teachers and support staff to schools. The seller was RJD Partners.
Thoma Bravo and Teachers' Private Capital have completed their take-private acquisition of IT security company SonicWall Inc. The $11.50 per share deal valued SonicWall at around $717 million.