The Blackstone Group has agreed to buy a majority stake in the outsourcing unit of India-based CMS Computers Ltd. The unit, which also manages card solutions and ATM cash management, would be spun off into a new company run by former Microsoft India CEO Rajiv Kaul. CMS would retain a minority ownership position. No financial terms were disclosed.
HONG KONG (Reuters) – U.S. private equity firm Kohlberg Kravis Roberts & Co. plans to invest $100 million into China’s Mengniu Modern Farm, a source familiar with the matter said on Monday, taking a stake in a fragmented and troubled industry. Other investors may pour $150 million more into the company alongside KKR, said the […]
Genstar Capital has agreed to acquire Long Term Care Group Inc. from Advent International and CCP Equity Partners. No financial terms were disclosed. LTCG is an Eden Prairie, Minn.-based provider of outsourced services to the long term care insurance industry and the geriatric care market. It will serve as the cornerstone of a new senior care services platform called UniVita.
Renal Advantage Inc., a Brentwood, Tenn.-based for-profit provider of dialysis services in the United States, has agreed to acquire National Renal Alliance LLC, a Franklin, Tenn.-based owner and operator of 45 dialysis facilities in 10 states. No financial terms were disclosed for the deal, which is expected to close later this month. Renal Advantage is […]
Presidio Investors has acquired a minority stake in The Interface Financial Group, a Potomac, Md.-based franchisor of professional bookkeeping and invoice discounting services. No financial terms were disclosed. www.interfacefinancial.com
Longroad Asset Management has agreed to acquire Medford, Wis.-based Hurd Windows & Doors Inc. out of bankruptcy, according to LBO Wire. Longroad will pay $11.25 million and buy up around $14 million in bank debt held by the residential window and door maker. www.hurd.com
MUMBAI (Reuters) – Private equity executives and investment bankers believe India must change some foreign investment rules if the buyout industry is to play a bigger role in helping to fund companies and infrastructure projects. Speakers at a Reuters India Investment Summit last week said that while India may be rich with opportunities, the government […]
TORONTO (Reuters) – BCE Inc. (BCE.TO: Quote, Profile, Research, Stock Buzz) is demanding that the Ontario Teachers’ Pension Fund pay a C$1.2 billion termination fee if the leveraged buyout of the company fails to go through, as expected, a newspaper reported on Saturday. Citing people familiar with the situation, the Globe and Mail said BCE […]
Golden Gate Capital and Preferred Unlimited Inc. have completed their acquisition of U.S. Silica from Harbinger Capital Partners. The deal included around $200 million in equity and mezzanine notes from Golden Gate, a $102 million senior note financing arranged by BNP Paribas and a $35 million revolving credit facility from Wachovia. U.S. Silica is a Berkeley Springs, West Va.-based maker of industrial silica sand. Harbinger bought it from Harvest Partners last year for an undisclosed amount.
NEW YORK/DETROIT (Reuters) – As U.S. lawmakers consider Chrysler’s request for a bridge loan, they will have to ask: Where does the bridge lead? Accompanied by its larger rivals General Motors Corp (GM.N: Quote, Profile, Research, Stock Buzz) and Ford Motor Co (F.N: Quote, Profile, Research, Stock Buzz), Chrysler LLC, majority-owned by Cerberus Capital Management, […]