GenNx360 Capital Partners has acquired Trimaster Manufacturing Inc. from Edgestone Capital Partners for an undisclosed amount. Trimaster is an Ontario-based maker of components and sub-assemblies for complex machines.
Catterton Partners and Highland Consumer Fund have acquired cosmeceutical brand StriVectin and related assets from affiliates of Klein-Backer. No financial terms were disclosed.
LONDON (Reuters) – The 130 million euro ($181 million) financing to back Silverfleet Capital’s buyout of German sausage casing manufacturer Kalle Nalo is progressing, banking sources said on Monday. Seven or eight banks are looking at the financing and will seek final credit approval on the deal when due diligence has been completed, one of […]
The Sun'll Come Out Tomorrow? Today was a rough news day for the already beat-up Sun Capital Partners. First, the Journal reported that Kellwood, its largest investment may file for bankruptcy. Then the Post reported that its second-largest investment, which already filed for bankruptcy, will lose an imperative deal because Sun Capital "starved the company of research dollars" under its ownership. Then we have this stinger: Sun Capital founder Marc Leder has seen his dirty laundry aired in the Palm Beach Post, which reports that his wife, who admits to having an affair with her tennis coach, wants more than the $100 million he has offered her in a settlement, claiming he is worth more than $400 million. The New Criterion for MBA Admissions: Amid a tight MBA labor market, B-school admissions decisions increasingly hinge on applicants' ability to land a job upon graduation. (BW) McKinsey's Cracked Crystal Ball: Its 2009 predictions about the future of private-equity and hedge funds might be as inaccurate as its 2007 predictions. (Moneybox) Fundraising Gossip: Updates on some Australian funds from the Carried Interest blog... (CI)
LONDON (Reuters) – Junior lenders to British care home operator Four Seasons Health Care came under pressure to sign up to a debt restructuring deal after the company’s senior creditors agreed to the proposals. The lenders, holding so-called payment in kind (PIK) notes, are now the biggest obstacle to a successful debt restructuring, Four Seasons […]
WILMINGTON, Del. (Reuters) – Two U.S. manufacturers filed for bankruptcy on Monday with combined debts of about $600 million, both victims of the economic recession and frozen credit markets. One of the companies is RathGibson Inc of Lincolnshire, Illinois, which manufactures custom tubing and pipes for the chemical, energy and pharmaceutical industries, among others. RathGibson, […]
LONDON (Reuters) – Britain’s largest gas retailer, Centrica (CNA.L), faced a setback in its battle to take over Venture Production (VPC.L) on Monday, when the North Sea gas producer’s two largest investors backed management’s rejection of the $2 billion bid. U.S. investment firm ArcLight Capital Partners and one of Venture’s founders, Larry Kinch, which between […]
MUMBAI (Reuters) – Blackstone (BX.N) will not raise its stake in India’s Nagarjuna Construction Co (NGCN.BO) through warrants after the plan failed to get regulatory approval, the second time the private equity firm has hit a regulatory hurdle in the country. Blackstone, which in late 2007 announced a $150 million deal to buy shares and […]
MSouth Equity Partners has acquired BC Technical Inc., a West Jordan, Utah-based service provider to the nuclear medicine market. No financial terms were disclosed.
LONDON (Reuters) – British private equity firm Terra Firma has asked Citigroup (C.N) to inject up to 300 million pounds ($486.1 million) into its debt-laden music group EMI, according to a report in the Sunday Times newspaper. The buyout group led by Guy Hands, who is also chairman of EMI, has proposed an injection of […]