Bestport Ventures and Close Brothers have sold their stakes in UK-based occupational health services provider Grosvenor Health Ltd. to the Serco Group for Gbp19.6 million. The two firms acquired Grosvenor via a March 2004 management buyout, and later provided additional capital to help the company acquire Associated Health Specialists and Health Sure UK. PRESS […]
Adveq of Switzerland has raised $457.5 million for Adveq Opportunity II, a fund-of-funds that will “pursue special and unique investment strategies outside the traditional private equity sectors of venture capital and buyouts in the U.S.” The firm also promoted Philippe Bucher, Nils Rode, and Lee Gardella to managing director, and Kang Pan to executive director. […]
Ekahau Inc., a Helsinki-based provider of mobile positioning technologies, has raised over $10 million in Series C funding. Nexit Ventures led the round, and was joined by return backers like Finnish Industry Investment Ltd. and Sampo Group. It has now raised over $18 million in total funding. PRESS RELEASE Nexit Ventures, a mobile […]
DETROIT, June 2 (Reuters) – Cerberus Capital Management has not sold any of its equity in finance company GMAC or U.S. automaker Chrysler since those deals closed, the private equity firm said on Monday, as the transactions came under renewed scrutiny amid a sharp downturn in the U.S auto market. Cerberus was responding to a […]
BANGALORE (Reuters) – Lehman Brothers Holdings Inc (LEH.N: Quote, Profile, Research) may raise billions of dollars of fresh capital, suggesting the investment bank will post its first quarterly loss since going public, the Wall Street Journal said on Tuesday, citing sources familiar with the matter. Analysts and Wall Street executives estimate it might total $3 […]
Gregory Patti Jr. has joined Cadwalader, Wickersham & Taft LLP as a New York-based partner in the firm's corporate department, with a focus on private equity. He previously was a partner with O'Melveny & Myers. PRESS RELEASE Cadwalader, Wickersham & Taft LLP, one of the world's leading law firms, announced that Gregory P. Patti, […]
Total Safety U.S. Inc., a Houston, Texas-based portfolio company of DLJ Merchant Banking Partners, has acquired Callaway Safety Equipment Co., a provider if safety services to the oil and gas industry. No financial terms were disclosed. PRESS RELEASE Total Safety U.S., Inc. announced today that it has acquired the assets of Callaway Safety Equipment Co., […]
American Biomass Corp., a Manchester, N.H.-based distributor and online retailer of wood pellets and biomass fuels for residential heating, has raised $4 million in Series A funding led by .406 Ventures. PRESS RELEASE American Biomass Corporation (ABC), the leading national distributor and online retailer of wood pellets and biomass fuels for residential heating, today […]
Leiner Health Products, a bankrupt maker of vitamins and nutritional supplements, has agreed to sell its assets to NBTY (Nasdaq: NBTY) for approximately $230 million. North Castle Partners and Golden Gate Capital co-led a $650 million recap of Leiner Health back in 2004, before which North Castle had been the sole sponsor. That deal included […]
Cerberus Capital Management has sold “significantly” more than half of its equity in Chrysler and GMAC to around 90 investors, according to The Financial Times. Buyers include Citigroup Private Equity, Aozora Bank (a Cerberus portfolio company), Avenue Capital, Oak Hill Capital Partners and York Capital.