The Riverside Company has acquired Eemax Inc., an Oxford, Conn.–based maker of tankless electric water heaters. No financial terms were disclosed.
BANGALORE (Reuters) – Allied Capital Corp (ALD.N) said portfolio company Ciena Capital LLC filed for bankruptcy protection as the credit crisis led to a significant decline in the value of its assets, sending Allied Capital’s shares tumbling 49 percent to an all-time low. Allied Capital’s earnings may be hit by about 5 cents a share […]
CHICAGO (Reuters) – Chicago will lease its Midway Airport to private operators for $2.52 billion in a deal that would mark the first privatization of a major U.S. airport, Mayor Richard Daley said on Tuesday. “We believe this a very good return given the current stress in the credit markets,” Daley told a news conference. […]
Water Street Healthcare Partners has acquired HealthPlan Holdings Inc., a Tampa, Fla.-based provider of outsourcing services to insurers in the individual, small business, union trust and voluntary benefits markets. No financial terms were disclosed.
CVC Capital Partners has agreed to acquire a 47.5% stake in Pilot Travel Centers, which would form an equal governance partnership with Pilot Corp. The CVC stake is being purchased from Marathon Oil Corp. for an undisclosed amount. PTC operates the largest travel center network in the United States with 305 locations in 40 states.
Hudson Clean Energy Partners has acquired Helium Energy, a Madrid-based renewable energy development company. No financial terms were disclosed. Helium will be integrated into Hudson’s Element Power platform, which will focus on utility-scale wind and solar development throughout the globe.
H.I.G. Capital has helped form Epic Production Technologies, by sponsoring the merger of Q1 Production Technologies (Canada) and Ed & Ted’s Excellent Lighting (Los Angeles). No financial terms were disclosed for the deal, which creates a single provider of lighting systems for concert tours, theatrical productions and corporate and special events.
Gores Group has completed its acquisition of a 51% stake in Siemens Enterprise Communications from Siemens AG, which will retain the other 49 percent. The deal is structured as a joint venture, with the companies committing to invest at least €350 million into SEC, which provides unified communications, contact centers and secure networks.
BANGALORE (Reuters) – As the credit crunch makes it harder for companies to secure financing necessary for leveraged acquisitions, high-yield mezzanine debt is fast becoming the only viable alternative for buyout firms who need a constant source of funding. Mezzanine debt, which comes with a fixed interest rate and warrants tied to a company’s equity, […]
(Reuters) – Blackstone Group LP and JPMorgan Chase & Co will look to raise over $1 billion to help fund the conversion of 20,000 U.S. cinema screens to digital technology, in a deal due to be announced later on Wednesday, the Financial Times reported. Blackstone and JP Morgan are arranging the financing for a consortium […]