KarpReilly Capital Partners and HIG Capital been rebuffed in their offer to buy women’s apparel retailer Charlotte Russe Holding Inc. (Nasdaq: CHIC), for between $9 and $9.50 per share. The deal could have been worth upwards of $198.6 million. KarpReilly currently holds a 5.4% stake in Charlotte Russe.
Centre Partners has acquired operating businesses of Connors Bros. Income Fund, which include branded seafood products like Bumble Bee and Brunswick. The transaction’s enterprise value is approximately $600 million, with Connors senior management staying in place and holding a “significant stake” in the business. Wells Fargo Foothill underwrote a $350 million senior revolver and term loan facility, Ares Capital arranged a $135 million senior sub-debt placement and co-invested on the equity. Falcon Investment Advisors also made an equity co-investment.
BARCELONA, Nov 20 (Reuters) – France’s Vivendi (VIV.PA: Quote, Profile, Research, Stock Buzz) kept the owners of NBC Universal guessing on Thursday over what it plans to do with a 20 percent stake in the U.S. entertainment giant as the latest deadline approaches for a possible sale. Europe’s largest entertainment group has an option every […]
HONG KONG (Reuters) – It’s been a tough stretch for the Asian portfolio of CVC Capital Partners, a large private equity firm that is taking hits from all parts of the region. The firm recently failed to dispose of Amtek Engineering, the Singapore metal stamping company it bought last year, and is trying to sell […]
LONDON (Reuters) – Creditors of French building materials manufacturer Terreal are urgently seeking dialogue with its private equity owner, LBO France, after Terreal defaulted on a 915 million euro loan, banking sources said. Terreal failed a leverage covenant test last Friday on the loan, which specified that its leverage ratio must be eight times and […]
Moody’s Investors Service has cut the corporate family rating of United Site Services Inc. to B1 from Ba3, downgraded its first lien revolving credit facility to B1 from Ba3 and downgraded its second lien term loan to Caa1 from B3. USS is a Westborough, Mass.-based renter of on-site event services like portable restrooms, temporary fencing. It has been owned by DLJ Merchant Banking Partners since 2006.
Moody’s Investors Service has cut the rating outlook for Sabre Holdings Corp. from stable to negative. Sabre is a Southlake, Texas-based online travel reservations company taken private last year by Silver Lake Partners and TPG Capital for approximately $5 billion.
In my final Buyouts West Liveblog, I’m covering a panel called “The Great Debates,” a panel moderated by Houlihan Lokey’s Lindsay Alley. Panelists include Mark Bradley of Morgan Stanley, Kelvin Davis of TPG Capital, Dipanjan Deb of Francisco Partners, Robert Poletti of Levine Leichtman Capital Partners, and Ajay Shah of Silver Lake Sumeru. 2:29 I’m […]
Lance Inc. (Nasdaq: LNCE) has made a $30 million “stalking horse” bid for the assets of snack food company Archway Cookies LLC, a bankrupt portfolio company of Catterton Partners.
The Irish government is in talks with private investors from outside the country about a plan to inject fresh capital into the nation’s major banks. A report in the Irish Times suggested that JC Flowers might be one of the financial groups interested in backing one or more of the lenders, with Anglo Irish Bank […]