Manatron Inc., a Portage, Mich.-based provider of property tax solutions for state and local governments, has acquire Software Techniques Inc., a provider of computer-assisted mass appraisal software to government property appraisal districts. Thoma Bravo, which took Manatron private last year for $66 million, helped finance the deal. No overall pricing terms were disclosed.
CHICAGO (Reuters) – A group of private U.S. auto suppliers has filed for liquidation under the bankruptcy code as the industry continues to suffer from a slump in sales, according to court documents. Eaton County, Michigan-based Specialty Motors Holding Corp filed for liquidation at the U.S. Bankruptcy Court for the District of Delaware. The other […]
Pfingsten Partners has acquired the assets of Aviation, Power & Marine Inc., a Boynton Beach, Fla.-based distributor of aeroderivative gas turbine engine parts and related services. No financial terms were disclosed. Farlie Turner & Co. advised the seller.
LONDON (Reuters) – Four Seasons Health Care, the debt-laden British care home operator, has agreed a six-month extension in talks with lenders, it said late on Tuesday. The firm has around 1.5 billion pounds ($2.11 billion) of debt, but earnings before interest, tax, depreciation and amortisation (EBITDA) of just 100 million pounds a year. It […]
NEW YORK (Reuters) – Clear Channel Communications Inc, which operates radio stations and outdoor advertising space, plans to lay off about 7 percent of its U.S. staff, the Wall Street Journal reported on Friday. The newspaper, citing a person familiar with the situation, said the move will affect about 1,500 employees — mostly in ad […]
Investor AB, the investment vehicle of Sweden’s powerful Wallenberg family, is prepared to inject capital in its holdings and advises boards to be cautious when setting dividends. The company, whose core holdings include stakes in telecom equipment maker Ericsson, engineering group ABB and bank SEB, said the net value of its holdings fell 23% last […]
Permira, a global private equity firm, has sent out capital call letters to investors in order to raise US$917.8m for its US$3.6bn take-private of Nasdaq-listed UK security business NDS alongside Rupert Murdoch’s News Corp. London-headquartered Permira agreed last June to acquire 51% of UK-based NDS, in which News Corp had previously held the majority of […]
UK airports operator BAA and owner Ferrovial have received at least six indicative bids for the acquisition of London Gatwick airport, although any winning bid is likely to fall short of the expected £2bn price tag. Bidders include Global Infrastructure Partners, a private equity infrastructure fund and owner of London City airport, advised by Credit […]
NEW YORK (Reuters) – Royal Bank of Scotland Group Plc (RBS.L) unveiled the biggest loss in British corporate history on Monday, sending its shares reeling to their lowest in over a quarter of a century. The company said it will increase its U.K. lending in return for government support. It added on a conference call […]
NEW YORK (Reuters) – A U.S. bankruptcy court on Tuesday approved bid procedures for paperboard and plastic packaging maker Chesapeake Corp (CSKEQ.PK) to sell itself subject to an auction process over the next few months. According to court papers, U.S. Bankruptcy Judge Douglas Tice, approved procedures for the company to sell itself after a hearing […]