The auction for Shoes for Crews, a non-slip shoe company being sold by Advent International, has garnered at least 10 first round bids from private equity suitors, a source familiar with the deal said. The bids were in excess of $250 million, which represents an Ebitda multiple of high 7x to low 8x. The auction […]
Exponent Private Equity has agreed to buy Gorkana, a journalist database for PR pros, according to PaidContent. The deal is valued at under £25 million, with Exponent merging Gorkana with existing portfolio company Durrants. www.gorkana.com
As usual, we have a week’s worth of ratings actions on the debt of LBO-backed companies from ratings agencies Moody’s Investors Service. This week three companies were a mix: one bankruptcy, one downgrade, and one outlook imrovement. Company: Electrical Components International
Sponsor: Francisco Partners
Action: Moody's lowered the company’s probability of default rating and the corporate family rating to Ca from Caa3 following its filing for protection under Chapter 11 of the US Bankruptcy Code on March 30, 2010.
Highlight: The last rating action was on January 6, 2009 at which time Moody's downgraded ECI's corporate family rating to Caa3 from Caa2.
(Reuters) – U.S. private equity firm Centerbridge Partners has jumped into the fray to buy the struggling North American jewelry chain Zale Corp (ZLC.N), the New York Post said, citing sources.On Wednesday, Zale’s shares jumped after a report said that the jewelry store operator was in talks with three finalists to take a stake in […]
(Reuters) – Private equity firm Apollo Management is the alternative bidder for CKE Restaurants Inc (CKR.N), rivaling an existing bid by THL Partners, two sources briefed on the situation said on Wednesday. CKE, owner of the Hardee’s and Carl’s Jr. hamburger chains, said earlier on Wednesday that an unnamed bidder had made an alternative offer […]
NEW YORK (Reuters) – Zale Corp’s (ZLC.N) shares jumped after a report said that the jewelry store operator was in talks with three finalists to take a stake in the retailer. Zale shares were up 48 cents, or 16.4 percent, in afternoon trading on the New York Stock Exchange. Private equity firms TPG and Golden […]
Telecorps, a provider of entertainment production and post-production equipment rental and related services, has acquired postproduction facility Laser-Pacific Media Corp. from Eastman Kodak. No financial terms were disclosed. Telecorps is a portfolio company of H.I.G. Capital.
Here are some potential target ideas, rumored or official, to jumpstart your deal pipeline. Our sources are various news reports and the Buyouts “Seeking Buyers” list. Petroplus Holdings AG, an independent refiner based in Europe, is evaluating strategic alternatives at its Reichstett Refinery. Infratek ASA, a Norwegian electrical contractor, hired Carnegie ASA to advise it on the exploration of strategic alternatives. Anchor BanCorp Wisconsin Inc., a Nasdaq-traded bank based in Wisconsin, hired Sandler O'Neill Partners to advise it on the exploration of strategic alternatives. AOL is deciding on an exit strategy for Bebo, a social networking service it acquired for $850 million two years ago. The company will either sell or close the company. AOL is also selling ICQ, an instant messaging service reportedly worth $300 million. Three companies have submitted binding offers for the company.
Landis+Gyr, a Switerland-based provider of electricity metering and smart meter solutions, has raised $165 million in private equity funding led by DLJ Merchant Banking Partners.
Mason Dixon Energy, a Bridgeport, West Va.-based provider of land services to oil and gas companies east of the Mississippi River, has raised an undisclosed amount of private equity funding from Hudson Ferry Capital.