Milestone Partners has sponsored the recapitalization of Blaschak Coal Corp., a Mahanoy City, Penn.-based miner, preparer and marketer of anthracite coal. No financial terms were disclosed. Harris Williams & Co. advised Blaschak on the deal. PRESS RELEASE Milestone Partners is pleased to announce that on April 27, 2009 it completed the recapitalization of Blaschak Coal […]
NEW YORK (Reuters) – Privately owned power company Energy Future Holdings Corp reported a $442 million quarterly profit on Friday, compared with a big loss a year earlier, a plus for the three private equity firms that bought it for $32 billion. The buyout of TXU Corp, as it was formerly known, was the largest […]
A Buyouts colleague unearthed a very interesting Dallas Business Journal Q&A with accused fraudster Saul Meyer. The founder of Aldus Equity was arrested yesterday for his connection in the New York pension fund pay-for-play scandal. Evidenced by the photos, the interview is from a much more comfortable time for Meyer. It yielded an unfortunate, ironic quote from the financial adviser: Q. What sets Aldus apart from other private equity firms?
A. The degree of governance and transparency that provides us with an added degree of integrity that others can’t match. We create innovative ways to look at things. Everything we come up with is customized. It isn’t just business as usual. Just as quote-worthy is a comment included in the New York Attorney General's complaint.
(Reuters) – Walt Disney Co will buy a 30 percent stake in Hulu.com, bringing popular TV shows such as “Lost” and “Grey’s Anatomy” to the video website founded by NBC Universal and News Corp. Disney’s entrance, which comes after months of negotiations, means that three of the four major U.S. broadcast networks now have stakes […]
In the past 48 hours, I’ve received more than a dozen variations of this email from Randy: “You wrote last year that TPG’s investment in Washington Mutual was the worst private equity deal ever. Does Cerberus’ investment in Chrysler now take the title?” What I find so interesting about the question is that I was […]
ComVest Investment Partners III, a private equity firm based in Sunrise, Fla., has entered into a merger agreement with NationsHealth, a medical products and services company, for $0.12 per share in cash. ComVest will make an additional $5.0 million investment in NationsHealth at closing. NationsHealth, Inc. (“NationsHealth”) (OTCBB:NHRXE), announced today that it has entered into […]
(Reuters) – Two bidding groups have withdrawn from the auction of Dutch utility Essent’s waste management unit, sources familiar with the matter said on Thursday. The sale of the unit, Essent Milieu, is in its second round and had been one of the few deals to draw private equity interest, as buyout houses struggle to […]
(Reuters) – Mark IV Industries Inc, a supplier of automotive, heavy-duty truck, and other transportation equipment said on Thursday, it voluntarily filed for Chapter 11 protection. In a filing with the U.S. Bankruptcy Court for the Southern District of New York, the company, which is owned by private investment firm Sun Capital Partners Inc, listed […]
(Reuters) – Warburg Pincus [WP.UL] is seeking a buyer for Archimedes Pharma, the British-based firm with a promising treatment for sudden bouts of pain in cancer sufferers, a person familiar with the matter said on Friday. The global private equity firm is exploring options for the unit and has contacted pharmaceutical companies in Europe and […]
Sun Capital, a turnaround buyout shop located in Boca Raton, Fla., has through portfolio company Nur Die Group, acquired the assets of Vatter GmbH, a Garman hosiery company and supplier to Nur Die Group. Press release: We are pleased to announce that the Nur Die Group, part of the DBApparel Group, an affiliated portfolio company […]