APR Energy Cayman Ltd., a provider of turnkey temporary power generation services, has received a $30 million minority investment from Levant Capital Ltd., a Dubai-based private equity firm.
LONDON (Reuters) – Barclays (BARC.L) has entered exclusive talks with CVC Partners over the sale of its iShares unit for an estimated 3 billion pounds ($4.29 billion), a source familiar with the situation said on Tuesday. The sale would not include the securities lending business of San Francisco-based Barclays Global Investors (BGI), the parent of […]
MUMBAI (Reuters) – Private equity firm WL Ross & Co is among the bidders to buy a majority stake in fraud-tainted outsourcer Satyam Computer Services Ltd (SATY.BO), two newspapers reported on Tuesday. WL Ross, run by U.S. investor Wilbur Ross, who made a fortune snapping up distressed firms and turning them around, has already completed […]
Last year, there were 49 total. This year, we've got half of that in the first quarter alone. And despite a few hints that the economy is waking up, there is no shortage of companies teetering on the verge of bankruptcy. Download the spreadsheet below. The main thing that might slow the growth of this list is the companies' abilities to do distressed debt exchanges, which has kept the likes of Realogy, TPG and plenty others afloat. The other crutch is covenant lite. Judging by liabilities, original deal values, and even the names of the sponsors, we have yet to see a true mega-buyout fall as yet. And we likely won't until 2012 or 2013, thanks to generous lending terms like covenant lite and PIK toggles. By then, the hope is that the credit markets will be warm enough to refinance.
LONDON (Reuters) – Hermes Fund Managers, which is owned by the UK’s largest pension fund, said on Monday it is to exit direct private equity investment to concentrate on its fund of funds business. Hermes said it has appointed European mid-market private equity firm Bridgepoint Capital [BRDG.UL] as manager of Hermes Private Equity Partners II […]
Ace Expediters Inc., an Orlando, Fla.-based logistics management company, has acquired Network Express Inc., a provider of specialized distribution services for pharmacies serving the long term care market. No pricing terms were disclosed for the deal, which included senior debt from Golub Capital and subordinated notes from groups like Prism Mezzanine Fund. Ace Expediters is a portfolio company of Atlantic Street Capital.
CHICAGO (Reuters) – Sara Lee Corp (SLE.N) is considering the sale of its international household and personal care business after receiving some expressions of interest from potential suitors. The business, which includes a mix of brands like Sanex body wash and Ambi Pur air fresheners, has about $2.3 billion in annual sales, or about 17 […]
Castanea Partners has acquired Urban Decay Cosmetics LLC, a Newport Beach, Calif.-based premium cosmetics brand selling through specialty beauty retailers, from The Falic Group. No financial terms were disclosed.
(Reuters) – Diversified manufacturer Manitowoc Co (MTW.N) said it agreed to sell its ice business to an affiliate of Warburg Pincus for $160 million to meet anti-trust requirements related to its acquisition of Enodis Ltd. In a regulatory filing, Manitowoc said it will transfer all of the outstanding equity securities of Scotsman Group LLC, CastelMAC […]
Flight Options LLC, a Cleveland-based private aviation company, has raised an undisclosed amount of new funding from Directional Capital and existing shareholder Resilience Capital Partners. Resilience and H.I.G. Capital first invested in Flight Options last year.