Brown Jordan buys Tropitone Furniture

Brown Jordan International, which is backed by Crescent Capital Group, said Monday it has acquired Tropitone Furniture. Financial terms weren’t announced. Pfingsten Partners, in 2007, led a buyout of Tropitone, a seller of outdoor casual furniture. The deal was financed by cash on hand as well as debt financing from AIG Investments and Bank of America Merrill Lynch. Moelis & Company was the financial advisor and debt placement agent to Brown Jordan. Intrepid Investment Bankers advised Tropitone.


SunTrust Robinson Humphrey hires four to capital markets team

SunTrust Robinson Humphrey has hired four finance industry executives to its capital markets team. The firm hired Ron Caldwell and Akis Psarris as managing directors, and Ricardo Simon and Matt Holbrook as directors. Caldwell joins SunTrust Robinson as head of Healthcare Syndicated & Leveraged Finance after 14 years at Bank of America Merrill Lynch. Psarris has joined the firm’s Liability Management practice from Lloyds Bank. Simon, who will head up SunTrust Robinson’s Commercial Real Estate & REIT Syndicated Finance practice, came from Wells Fargo, and Holbrook joins the Syndicated & Leveraged Finance group from Bank of America Merrill Lynch.


Macquarie Capital adds two to team

Macquarie Capital, the corporate advisory and capital markets arm of Macquarie Group, has hired David McShane as a senior managing director and US head of equity capital markets. The firm has also named John Kent as a managing director. Previously, McShane worked at Bank of America Merrill Lynch where he was the managing director and head of US energy and power equity capital markets. And, prior to joining Macquarie, Kent worked at LCT Capital.


Banks face U.S. fines over LBO loans: Reuters

Wall Street banks are bracing for a clampdown and even fines if regulators determine they have violated guidelines aimed at stamping out reckless underwriting on leveraged buyout debt, according to Thomson Reuters International Financing Review and Thomson Reuters Loan Pricing Corp.


Liberty Hall acquires McCann Aerospace Machining

Liberty Hall Capital Partners said Wednesday that it has acquired McCann Aerospace Machining. No financial terms were disclosed. Bank of America Merrill Lynch provided financing for the transaction while Stifel and Patton Boggs advised McCann. McCann is a provider of structural parts and assemblies for the aerospace sector.

Reuters – Rexel’s PE Owners Sell Stake

Rexel‘s controlling shareholder Ray Investment has sold a 10 percent stake in the French electrical equipment supplier for 487.54 million euros ($635 million), as Ray’s private equity owners further reduce their stakes, writes Reuters. It was the second recent sizeable Rexel stake sale by Ray, which is controlled by Clayton, Dubilier & Rice, Eurazeo, Bank of America Merrill Lynch and the Caisse des Depots et Consignations du Quebec.

Reuters – CD&R, Carlyle, BofA Sell Remaining Hertz Stake

Hertz Global Holdings‘ private equity investors Clayton, Dubilier & Rice, Carlyle Group and Bank of America Merrill Lynch have sold off their remaining shares in the car rental agency for $1.24 billion, writes Reuters. CD&R, Carlyle and Bank of America Merrill Lynch sold 49.8 million shares for $24.96 each. Before the sales, CD&R and Carlyle were the second and third largest shareholders in Hertz, respectively, according to Thomson Reuters data.

Panasonic Hires Merrill Lynch to Sell Healthcare Unit Stake

Japan’s Panasonic Corp has hired Bank of America Merrill Lynch to sell a part of its healthcare unit in a deal that could raise as much as $1 billion writes Reuters. Merrill Lynch will begin providing information on the sale to potential bidders by May, including private equity funds Bain Capital and Carlyle Group, writes Reuters.

Bojangles Refinances Senior Debt

Bojangles’ Restaurants has announced a refinancing of its $200 million senior debt facility, significantly lowering its borrowing costs. Bank of America Merrill Lynch served as lead arranger with Wells Fargo, Fifth Third Bank and Regions Bank as joint lead arrangers. KeyBank, Cadence Bank and Royal Bank of Canada also participated in the facility.

Arle Capital Expands Team

European buyout house Arle Capital Partners has expanded its investment team with two investment managers. Roumyana Boshnakova joins from 3i, and Senka Jeremic joins from Bank of America Merrill Lynch. PRESS RELEASE Arle Capital Partners today announces the further international expansion of its investment team with the addition of two new Investment Managers. Roumyana Boshnakova […]

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