Silver Oak Services Partners has acquired the assets of Accent Food Services, in partnership with company management. No financial terms were disclosed. Accent Food is an Austin, Texas-based provider of vending, coffee and break room refreshment services in Central and East Texas. PRESS RELEASE Silver Oak Services Partners, LLC announced that it has acquired the […]
NEW YORK/TORONTO (Reuters) – The C$34.8 billion ($28.3 billion) leveraged buyout of BCE Inc (BCE.TO: Quote, Profile, Research, Stock Buzz)(BCE.N: Quote, Profile, Research, Stock Buzz), Canada’s biggest telecommunications company, ended in collapse on Thursday, setting the stage for a fight between the company and its buyers over the deal’s C$1.2 billion breakup fee. The derailment […]
NEW YORK/HONG KONG (Reuters) – KB Toys Inc, one of the largest U.S. toy retailers, filed for Chapter 11 bankruptcy protection on Thursday, with a plan to close all its stores and begin liquidation sales in the middle of the holiday season. KB Toys is the latest retailer to succumb to a sharp decline in […]
Acorn Growth Companies, a private equity co-investor in the aerospace and defense industries, and Cherokee Nation Businesses have purchased Alabama-based Aerospace Products, an aerospace parts and logistics firm, Deal terms were not disclosed. Press release: Cherokee Nation Businesses, a wholly owned corporation of the Cherokee Nation, and Acorn Growth Companies, have announced the acquisition of […]
Mid Europa Partners, a Central and Eastern European private equity firm, has closed its purchase of an additional stake in Falcon Group. The stake, which now totals 74.6%, was purchased from Lehman Brothers. Press Release: Mid Europa Partners has successfully completed the acquisition of an additional stake in Falcon Group as previously announced on 3 […]
Simmons Bedding, a mattress company owned by Thomas H. Lee Partners, has extended a forbearance agreement due to expire today until March, and is required to restructure its debt by then. The firm purchased Simmons in 2003 for $1.1 billion. Read more Press release: Simmons Bedding Company (“Simmons Bedding”), a subsidiary of Simmons Company (“Simmons” […]
Reuters: American Land Lease Inc, a real estate investment trust, said it agreed to be acquired by private equity investment firm Green Courte Partners LLC for $14.20 a share in cash – a 264 percent premium to the stock’s closing price on Tuesday. “We are not surprised by the announcement. We feel the transaction is […]
NEW YORK (Reuters) - The C$34.8 billion ($27.8 billion) buyout of Canada's biggest telecoms company BCE Inc (BCE.TO: Quote, Profile, Research, Stock Buzz) (BCE.N: Quote, Profile, Research, Stock Buzz) collapsed on Thursday after the buyers said a key condition to the deal was not met. The derailment was widely expected after BCE said late last month that its accountants, KPMG, had said that the company that would emerge from the deal would fail a solvency test because of its huge debt load. BCE struck the C$42.75 a share cash deal to be bought by the Ontario Teachers' Pension Plan, along with U.S.-based private equity firms Providence Equity Partners, Madison Dearborn Partners and Merrill Lynch Global Private Equity nearly 18 months ago. One of the conditions to closing the deal was receipt of a solvency opinion from a recognized valuation firm.
TORONTO (Reuters) – A C$34.8 billion ($27.6 billion) leveraged buyout of BCE Inc (BCE.TO: Quote, Profile, Research, Stock Buzz)(BCE.N: Quote, Profile, Research, Stock Buzz), Canada’s biggest telecom company, is all but certain to collapse later this week as the prospects of a last-minute rescue grows dimmer. Ever since BCE said late last month that its […]
BANGALORE (Reuters) – American Land Lease Inc (ANL.N: Quote, Profile, Research, Stock Buzz), a real estate investment trust, said it agreed to be acquired by private equity investment firm Green Courte Partners LLC for $14.20 a share in cash – a 264 percent premium to the stock’s closing price on Tuesday. “We are not surprised […]