LONDON (Reuters) – Lenders to UK engineering firm Firth Rixson have agreed a loan waiver which will reset loan covenants and see sponsor Oak Hill put 100 million pounds of new equity into the deal, two bankers said on Thursday. The majority of the equity injection will be used to repay part of the company’s […]
LONDON (Reuters) – Private equity firm CVC Capital Partners has made the only bid for Anheuser-Busch InBev’s (ABI.BR) Central and Eastern European assets, people familiar with the matter said on Wednesday. TPG, which was expected to also make an offer by Monday’s deadline, has not submitted a bid and is out of the process, one […]
American Securities has invested an undisclosed amount to help launch Delphi Midstream Partners, a firm that will acquire and invest in up to $2 billion of midstream energy sector companies and assets. Delphi's chief executive Thomas Karam previously was president & COO of Southern Union Co., while its senior vice president Michael Walsh was a co-founding partner of Highstar Capital.
Rutland Partners has agreed to acquire CeDo from Delton AG, for an undisclosed amount. CeDo is a European manufacturer of household disposables, with annual sales of approximately £185 million.
HONG KONG/TAIPEI (Reuters) – Primus Financial Holdings, founded by former top Citi (C.N) Asia banker Robert Morse, plans to team up with a Hong Kong-listed battery maker to bid for AIG’s (AIG.N) Taiwan unit Nan Shan Life, sources with direct knowledge of the matter said on Thursday. American International Group, bailed out by the U.S. […]
TORONTO (Reuters) – A joint venture of private equity firm Gores Group and Germany’s Siemens AG said on Wednesday it is pushing to submit a bid to acquire the enterprise solutions business of bankrupt Canadian telecom equipment maker Nortel Networks. The venture, called Enterprise Networks Holdings (ENH), said it is expending considerable resources, time and […]
Now that the weather has finally warmed up, plenty of M&A bankers are hoping the market for deals will as well. We’ve noticed a few more targets coming to market in recent weeks and have compiled a list of some of those we’ve come across. Our sources are various news reports and the Buyouts “Seeking Buyers” list. The following companies (among many others) are either formally considering “strategic alternatives,” reported to be on the block or are rumored to be in sales talks. For prior lists, see below, and send any additions my way. Coinmach Services Corp., backed by Babcock & Brown, may end up undergoing a debt-for-equity swap with its underwriters due to its heavy debt load, Debtwire reports. Aetna Inc has hired Bank of America and Credit Suisse Group to help it sell its pharmacy-benefit management business, Reuters reported. ... Friends, Britain's sixth-biggest life insurer by market value, also said it had rejected as "wholly inadequate" a new takeover proposal from Resolution, Reuters reported.
Thoma Bravo has completed its take-private acquisition of Entrust, a Dallas–based company that secures digital identities and information for consumers. The deal was valued at $124 million, or $2 per Entrust share.
Vista Equity Partners has agreed to buy MicroEdge, a New York-based provider of sofware and services to the charitable giving industry, from Advent Software Inc. (Nasdaq: ADVS). The deal is valued at approximately $30 million in cash.
Transom Capital Group has acquired Cinder BLock Inc., an Oakland-based entertainment merchandising company. No financial terms were disclosed.