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ACON Investments closes Latin America fund on $515 mln

ACON Investments has closed ACON Latin America Opportunities Fund IV on $515 million. In May, the firm also closed on the issuance of about $150 million of Mexican publicly traded trust certificates called Certificados de Capital de Desarrollo (CKD). The fund, along with the CKD and co-investment potential, brings ACON’s total capital potential to more than $600 million for pan-regional middle market private equity investments. Stanwich Advisors worked as placement agent on the fundraising.

ACON acquires Igloo

Cooler manufacturer Igloo Products Corp has been acquired by an affiliate of ACON Investments. ACON purchased Igloo from J.H. Whitney, a Connecticut-based private equity firm, which will maintain a small stake in the company.

A full moon rises behind the Empire State Building and the Chrysler Building over the skyline of Manhattan in New York

New York City Makes Mammoth $1.1B In PE Commitments

The New York City Retirement Systems, the $127 billion group of municipal pensions overseen by the city comptroller’s office, made an impressive $1.1 billion in commitments to five private equity funds in the first quarter, according to Stephanie Hoo, a senior press officer. According to sister magazine, Buyouts, the funds are managed by The Carlyle Group, Platinum Equity…

Pfingsten Partners Sells Suzo-Happ to ACON Investments

ACON Investments has acquired Suzo-Happ Group from Pfingsten Partners. Financial terms weren’t announced. Mount Prospect, Ill.-based Suzo-Happ supplies components and accessories to the gaming, amusement and industrial markets. PNC Bank and Cerberus Business Finance provided financing. Brian Richards and Kimberly Smith of Paul Hastings represented Pfingsten. PRESS RELEASE ACON Equity Partners III, L.P., a private […]

Fairway Outdoor Merged with Olympus Media

ACON Investments and MidOcean Partners have merged portfolio companies, Fairway Outdoor Advertising and Olympus Media. Financial terms were not announced. The combined company, Fairway Media Group, of Greenville, S.C., has more than 21,300 bulletin and poster displays in 17 states across the Southeast and Midwest. PRESS RELEASE ACON Investments and MidOcean Partners announced today that […]

ACON Backs Hidrotenencias

ACON Latin America Opportunities Fund, a private equity fund managed by an affiliate of ACON Investments has acquired a controlling stake in Panama-based Hidrotenencias. ACON led a consortium of co-investors including the Netherlands Development Finance Company and Société de Promotion et de Participation pour la Coopération Economique. Hidrotenencias owns three hydroelectric projects located in the […]

D.C. Shop Raises $400M

ACON Investments has raised $400 million so far for its latest fund, sister publication Buyouts reported, citing a source close to the effort. The haul puts the Washington, D.C-based firm well on its way to its $600 million target. The firm started reaching out to potential new investors for the fund, ACON Equity Partners III […]

TPG To Open Houston Office

TPG Capital expects to open an office in Houston next month, a source told Buyouts. It’s hardly a geographic leap, considering TPG is based in Fort Worth. But it’s indicative of the firm’s heightened interest in energy and power, among the most popular sectors for PE firms of late. From Oct. 1, 2009 through Sept. […]

D.C.-Based Firm Eyes First Close On Fund III

ACON Investments plans to hold a first close of more than $200 million on its third fund sometime in the next couple of weeks, Buyouts reported earlier today, citing two sources. Such a closing suggests ACON is off to a promising start in raising capital for its third fund, for which it hopes to raise […]

Bonderman-Backed Shop Seeks $600M For Fund III

ACON Investments, a firm whose investors include TPG Capital founder David Bonderman, has started reaching out to potential new investors for its third fund, Buyouts reported earlier today, citing a source briefed on the firm’s plans. The firm, with offices in Washington, D.C., Los Angeles and Madrid, is seeking $600 million for the fund, ACON […]

ACON Investments Makes Gas Play

ACON Investments LLC, the Washington, D.C. investment firm, has established Saga Resource Partners as a holding company for its acquisition of assets from Saga Petroleum Corp. and other natural gas assets it acquired from an undisclosed seller. ACON led an investor group comprised of the management team of Saga Petroleum Corp., GCP Capital Partners, Wells Fargo Energy Capital, Inc. and Société Générale Investment Corporation in financing the acquisitions. Terms of the transaction were not disclosed.

ACON Buys Colombia’s Aseo Urbano

ACON Latin America Opportunities Fund has completed its acquisition of Colombian waste management company Aseo Urbano S.A., the firm announced Thursday. ACON bought the company from Urbaser of Spain and Raygar International, a private U.S. holding company. Terms of the deal were not released.

ACON Completes Refac Optical Deal

ACON Investments has completed its purchase of Refac Optical Group from Palisade Capital Management. Financial terms of the deal were not released. Refac Optical Group was advised by Oppenheimer & Co. Inc. in the transaction. ACON Investments was advised by William Susman.

Marathon Oil to sell assets to two PE firms

Marathon Oil Corp has agreed to sell most of its refining and marketing assets in Minnesota to ACON Investments and TPG Capital. The two private equity firms will buy the St. Paul Park refinery (which produces 74,000 barrels per day), 166 SuperAmerica convenience stores, interests in pipeline assets in Minnesota and associated inventories for about $900 million.

ACON Investments sells SAE Towers Holdings

ACON Investments, a private equity firm based in the U.S. and Latin America, has sold one SAE Towers Holdings, a manufacturer of transmission lattice towers, to KEC International Limited, an India-based power transmission company. The deal cost approximately $95 million.

ACON Investments Affiliate To Sell SAE Towers To KEC International For $95M

An affiliate of Washington, D.C.-based ACON Investments LLC signed a definitive agreement to sell SAE Towers Holdings LLC to KEC International Ltd. of India for $95 million excluding working capital adjustments on a debt-free, cash free basis. The sale of SAE Towers to KEC will yield proceeds representing more than 3.6x ACON’s investment.SAE Towers is a Houston, Texas-based manufacturer of transmission towers. SAE Towers’ management team will remain with the business.

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