Calera Capital (f.k.a. Fremont Partners) has closed its fourth fund with $700 million in capital commitments, according to LBO Wire. The San Francisco-based buyout firm had been targeting $1.25 billion. www.caleracapital.com
David Wathen, a onetime general partner with Questor Management Co., has been named president and CEO of TriMas Corp. (NYSE: TRS). He most recently served as president and CEO of North American Operations for Balfour Beatty Inc.
Emerging Capital Partners has sold its minority stake in SOMDIAA SA to the company’s majority shareholders for approximately $26 million. This represents a 2x return on ECP’s initial investment, which was made in September 2003. SOMDIAA produces sugar, flour and animal feed in Central Africa. PRESS RELEASE Emerging Capital Partners (ECP), an international private […]
John Baldo has joined Cantor Fitzgerald & Co. as senior managing director and head of national fixed-income sales, for the firm’s debt capital markets group. He previously was with UBS, as a managing director and head of U.S. structured products.
Allied Carpets, Britain’s second-biggest flooring retailer, has held preliminary talks with turnaround specialist Hilco. Without citing its sources, The Independent reported that a prospectus has been sent out and first round bids for the privately held Allied Carpets are due this month. Neither Hilco nor Allied Carpets or its French owner Tapis Saint-Maclou were immediately […]
DETROIT/PARIS (Reuters) – Struggling U.S. automaker Chrysler is in talks to sell assets to Renault-Nissan and parts supplier Magna, sources with knowledge of the discussions have told Reuters, though the French automaker on Wednesday denied such talks were under way. The third-largest U.S. automaker is under pressure to restructure after accepting $4 billion in U.S. […]
HONG KONG (Reuters) – Merrill Lynch’s former Asia investment banking head is starting his own private equity fund, a source familiar with the matter said on Wednesday, but will continue to serve as an adviser to the bank’s new owner, Bank of America (BAC.N). The move by Sheldon Trainor to launch an Asia-focused investment fund […]
NEW YORK (Reuters) – The U.S. Securities and Exchange Commission has sued a managing director at private equity firm Blackstone Group (BX.N) for an insider trading scheme involving shares of supermarket chain Albertsons, the Dow Jones newswire said on Tuesday. Dow Jones said Blackstone managing director Ramesh Chakrapani supplied a friend with material nonpublic information […]
NEW YORK (Reuters) – Citigroup Inc (C.N) agreed to merge its Smith Barney brokerage with Morgan Stanley’s (MS.N) wealth management unit, a big step in the possible dismantling of what was once the world’s largest bank. The joint venture will create the largest U.S. brokerage, known as Morgan Stanley Smith Barney, with more than 20,000 […]
Hanover Partners has acquired Handi Quilter LLC, a North Salt Lake City-based maker of branded quilting machines, portable frames/tables, computerized quilting systems and quilting accessories. Tuckerman Capital provided leveraged financing, while Handi Quilter senior management also participated. No pricing terms were disclosed.