NEW YORK (Reuters) – Western Union Co (WU.N) said on Thursday it would buy Canada-based Custom House Ltd, a provider of payment solutions for small and medium enterprises, for $370 million in cash, expanding its global payments capabilities. Custom House is owned by Chairman Peter Gustavson and Boston-based private equity firm Great Hill Partners. It […]
Atlanta Equity Fund has acquired Richmond Cold Storage Inc., a Richmond, Va.-based operator of a network of refrigerated warehouse space. No financial terms were disclosed.
Florida Merchant Capital Investors, a Tampa, Fla.-based private equity firm, has acquired WorkTree.com, operator of an employment website. No financial terms were disclosed.
HONG KONG/SEOUL (Reuters) – Anheuser-Busch InBev INTB.BR said it agreed to sell its South Korean Oriental Brewery to private equity firm Kohlberg Kravis Roberts & Co for $1.8 billion, allowing the world’s largest brewer to repay debt. If completed, the buyout would be the biggest private equity purchase in Asia-Pacific excluding Japan since late 2006, […]
HONG KONG/SHANGHAI (Reuters) – Buyout funds including Bain Capital and an investment arm of Goldman Sachs (GS.N) are in preliminary talks to buy into a Chinese medical device seller and maker backed by Citigroup (C.N), sources with direct knowledge of the matter said. Citi Venture Capital International (CVCI) bought a roughly 70 percent stake in […]
(Reuters) – Vista Equity Partners Fund III L.P., a private equity firm, raised its offer to buy SumTotal Systems Inc (SUMT.O) to $4.50 per share in cash, topping an offer made by Accel-KKR last month and escalating the bidding war. The latest offer from Vista, which owns about 13 percent of SumTotal and is its […]
Mattress maker Spring Air is expected to cease operations within the next few days, according to a report in Furniture Today. peHUB has learned that the move would come after company management failed to reach a buyout agreement with Riverside Company, which had been in talks to acquire Spring Air from current sponsors H.I.G. Capital and American Capital. It's unclear exactly what caused the deal breakdown, although one source says the conflicts were related to demands being made by creditors like components maker Leggett & Platt. Also unclear if the failure of a buyout could lead to some sort of bankruptcy filing. This last issue gets even tricker when one looks at an April 22 article from Furniture Today, in which Spring Air CEO Steve Cumbow said:
Crunch, a New York-based fitness club chain, has agreed to be acquired by its senior secured lenders, Angelo, Gordon & Co. and New Evolution Fitness Co. The acquisition will occur via a voluntary, pre-packaged Chapter 11 bankruptcy process that allows other interested parties to submit buyout bids.
StrataCare Inc., an Irvine, Calif.-based provider of national bill review software, workflow and outsource solutions to the workers’ compensation payer market, has sold an undisclosed equity stake to an investor group that includes SV Life Sciences Advisers, Beecken Petty O'Keefe & Co. and Paul Glover. No financial terms were disclosed.
The Gores Group has acquired a 51% stake in Stock Building Supply Holdings LLC,a Raleigh, N.C.-based supplier of building products to professional builders and contractors, from Wolseley PLC. The deal is conditioned on the completion of a pre-packaged Chapter 11 process that is expected to last between 45 and 60 days. At that point, Gores would invest $75 million and provide a $125 million revolving credit bridge facility. Wolesley would retain a 49% ownership interest.