(Reuters) – Standard & Poor’s on Monday lowered its corporate credit rating on Chrysler LLC [CBS.UL] after the company said it will likely seek concessions from secured lenders as part of the $4 billion in emergency loans it received from the government on Friday. S&P cut the rating by three notches to “CC,” a speculative […]
(Reuters) – Private equity deal volume sank to a five-year low in 2008, one of the industry’s roughest years ever, and 2009 is unlikely to get any easier as firms struggle to find deals, keep portfolio companies above water, and pacify increasingly restless investors. Global private equity activity sank to $188.7 billion this year, down […]
North American Industries, a provider of overhead cranes, has sold to Boulder Brook Partners LLC and Tonka Bay Equity Partners LLC for an undisclosed amount. Cobblestone Advisors, a specialty group of Harris Williams & Co., advised on the deal. Press Release: Cobblestone Advisors is pleased to announce the sale of North American Industries, Inc. to […]
Tom Cat Bakery, Inc., an artisan bread and commercial bakery based in New York, sold to Ancor Capital Partners and Merit Capital Partners. Transaction terms were not disclosed. Press Release: Tom Cat Bakery, Inc., an artisan bread and sweet goods commercial bakery located in New York, was acquired today by Ancor Capital Partners and Merit […]
Nelson Peltz’ investment business, Trian Fund Management, has purchased a 7.18% stake in Dr Pepper Snapple, a company with which the activist shareholder has previous ownership experience. In 1997 Peltz purchased Snapple from Quaker Oats for $300 million, selling it three years later for $1.5 billion. (Reuters) – An investment arm controlled by activist investor […]
Austin Ventures has agreed to acquire Asset International, a financial information provider, including PLANSPONSOR, PLANADVISER, and Global Custodian publications. Deal terms were not disclosed. Press release: Austin Ventures “AV”, with $3.9 billion of capital under management, today announced the signing of definitive agreements to acquire Asset International, a global financial information provider that produces industry-leading […]
The year isn’t even over yet but of course, we’re already sizing it up. Today I’ve got some preliminary year-end data from mergermarket. Here’s a summary of U.S. numbers, follow the jump to get the full global report. Notable: *The top ten global deals include zero private equity firms. However, what should we call the […]
Black Diamond Capital Management, a hedge fund and private equity firm, had been authorized by the court to purchase Hines Horticulture out of bankruptcy. Press Release: Black Diamond Capital Management, L.L.C., (“Black Diamond”) a leading privately-held alternative asset management firm, announced today that the United States Bankruptcy Court for the District of Delaware entered an […]
European Capital has received a repayment of €10 million of junior mezzanine bonds from Newglass, parent company of portfolio company Devglass, a French manufacturer of dual-pane insulated glass. Press Release: St. Peter Port, Guernsey – 18 December 2008 – European Capital Limited and its subsidiaries (LSE: ECAS) (“European Capital”) announced today that they have received […]
MML Capital Partners, a buyout firm based in London and Stamford, Conn., has acquired the assets of Houston-based Americrane LLC through its portfolio company, TNT Crane & Rigging, Inc., for an undisclosed amount. Press Release: MML Capital Partners (“MML”) announces today that its portfolio company, TNT Crane & Rigging, Inc. (“TNT”) has acquired the assets […]