TowerCo, a portfolio company of Tailwind Partners, has completed its acquisition of approximately 3,300 wireless communication towers from Sprint Nextel for $670 million in cash. The two companies also entered into a long-term leasing agreement whereby TowerCo will provide Sprint with towers to support its CDMA, iDEN and WiMAX networks. Equity for the acquisition was […]
Birch Hill Equity Partners and Westerkirk Capital have completed their acquisition of Sleep Country Canada Income Fund, a publicly-traded Canadian mattress retailer. The bid is valued at C$299 million, or C$22 per share. In addition, the bidders assumed approximately C$57 million in Sleep Country debt.
European Capital has invested €30 million in Compagnie Europeenne de Prestations Logistiques, a European logistics company focused on the outsourcing of automated multi-product order preparation. The deal values at CEPL at between €550 million and €600 million.
Lineage Power Holdings Inc., a portfolio company of The Gores Group, has agreed to acquire Cherokee International (Nasdaq: CHRK), a maker of switch-mode power supplies for datacom, telecom, medical and process-control applications. The deal is valued at approximately $105 million, or $3.20 per share. PRESS RELEASE Cherokee International (NASDAQ: CHRK) announced today that it has […]
JERUSALEM (Reuters) – A group led by media mogul Haim Saban and private equity firm Apax Partners exercised its option to buy an additional 10.66 percent of Bezeq Israel Telecom (BEZQ.TA: Quote, Profile, Research, Stock Buzz) for 1.08 billion shekels ($318 million). In late 2005, Saban, Apax and businessman Mori Arkin bought a controlling 30 […]
(Reuters) – Washington Mutual Inc (WM.N: Quote, Profile, Research, Stock Buzz), the large U.S. savings and loan company crippled by mortgage losses, has approached private equity firms about a potential takeover after listed firms showed reluctance, the Wall Street Journal. Carlyle Group CYL.UL and Blackstone Group LP (BX.N: Quote, Profile, Research, Stock Buzz), who would […]
PARIS (Reuters) – French IT services provider Atos Origin SA (ATOS.PA: Quote, Profile, Research, Stock Buzz) said it had received an offer from private equity firm Candover (CDI.L: Quote, Profile, Research, Stock Buzz) for its Atos Worldline unit several weeks ago but rejected it. Both the group’s supervisory board and strategy committee rejected the proposal […]
DETROIT (Reuters) – Daimler AG (DAIGn.DE: Quote, Profile, Research, Stock Buzz) is in talks with private equity group Cerberus Capital Management to sell its remaining 19.9 percent stake in struggling U.S. automaker Chrysler LLC. Cerberus, which bought 80.1 percent of Chrysler in May 2007 in a $7.4 billion deal just before a sharp slowdown in […]
NEW YORK (Reuters) – Citigroup Inc (C.N: Quote, Profile, Research, Stock Buzz) may sell Primerica, its life insurance unit, to insurer Protective Life Corp (PL.N: Quote, Profile, Research, Stock Buzz) and private equity firm J.C. Flowers & Co, Bloomberg reported on Wednesday. Flowers may invest in Protective, which could then buy Primerica, the news agency […]
Alpine Investors, a San Francisco-based private equity firm, is marketing its fourth fund, sources familiar with the situation said. The effort has a $175 million target with a $205 million hard cap, a slight jump over Alpine’s last fund. Alpine Investors III closed in March 2007 with $125 million in commitments. The firm is not using a placement agent and expects to hold a first close on November 1, one source said.