NEW YORK, (Reuters) – Guy Hands’ private equity firm Terra Firma Capital Partners, the owner of EMI Group, is working to prevent a loan agreement default at the company’s recorded music unit, the Wall Street Journal reported. Terra Firma acquired EMI for 4 billion pounds, including 1.4 billion in cash from investors and a 2.6 […]
A new white paper from the lender CastleGuard Partners addresses what it calls a hole in the government’s economic recovery plans. Nearly one third of all middle market companies are having difficulty accessing credit, due in part to the hole. “Mid-size companies, too large for SBA loans but too small to issue bonds or benefit […]
NEW YORK (Reuters) – Activist investor Carl Icahn is under fire from a hedge fund that accuses the billionaire investor of enriching himself at the expense of minority shareholders in XO Holdings Inc (XOHO.OB), a company he controls. The suit represents a role reversal for Icahn, who has made a lucrative career of buying stakes […]
(Reuters) – NCI Building Systems Inc (NCS.N) said a fund managed by Clayton, Dubilier & Rice (CD&R) has agreed to invest $250 million in the company, and that it expects to be profitable in the third quarter, driving its shares up as much as 23 percent. The company, a maker of metal building components and […]
Stream Global Services Inc. (AMEX: OOO) has agreed to merge with the parent company of eTelecare Global Solutions Inc. The stock-for-stock exchange would result in current Stream shareholders owning 57.5% of the combined call center company, and eTelecare shareholders holding 42.5 percent. eTelecare was taken private last December by Providence Equity Partners.
Golden Gate Capital and Infor have completed their take-private acquisition of SoftBrands Inc., a Minneapolis-based provider of enterprise software to the manufacturing and hospitality markets. The deal was valued at approximately $80 million, or $0.92 per share. Wells Fargo Foothill, an existing SoftBrands lender, provided leveraged financing.
It's summer slowdown season, and M&A bankers are feeling the fizzle. 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. For prior lists, see below, and send any additions my way. Jones Soda, a publicly traded soft drink business, said there is "substantial doubt" that the company can continue as a going concern. The company is looking into possibility of public or private offerings of debt or equity securities, joint ventures with one or more strategic partners and other strategic alternatives. ING Groep NV is looking to sell assets to raise money to pay back its emergency government aid but has not received offers that suit its desired price. Coalcorp Mining Inc has resumed operations at its La Fancia mine, which it announced was a candidate for divestiture last week.
Graham Packaging, a portfolio company of The Blackstone Group, has acquired a minority stake in PPI Blowpack Pvt. Ltd., a Mumbai-based container manufacturer. No financial terms were disclosed. Graham recently agreed to go public via a $3.2 billion reverse merger with Hicks Acquisition Co., a SPAC managed by Tom Hicks.
NEW YORK, Aug 12 (Reuters) – SkyPower Corp, a Canadian developer of renewable energy projects owned by bankrupt Lehman Brothers Holdings Inc (LEHMQ.PK), said on Wednesday that it has filed for court protection under the Companies’ Creditors Arrangement Act. SkyPower said it was seeking to quickly sell its assets through a court-approved process and that […]
Environmental Capital Partners has acquired the assets of Intechra Holding Corp. from Marathon Asset Management. No financial terms were disclosed for the deal, which was ECP's first. Intechra is a Merrimack, N.H.-based IT asset disposition company, and was originally acquired by Marathon two years ago.