PE-backed Penhall hires new regional VP of Pacific Northwest

Penhall, which is backed by Centerbridge Partners, has named Sean Butler as its regional vice president for the Pacific Northwest. Previously, Butler worked at Hertz Equipment Leasing where he served as division vice president of Northeast operations. Based in Anaheim, Calif., Penhall is a provider of concrete cutting, coring, breaking and related concrete construction solutions.

RBS strikes pre-IPO deal for Williams & Glyn’s

The Royal Bank of Scotland Group has agreed a pre-IPO investment in its Williams & Glyn‘s bank brand with a consortium of investors led by global financial services specialists Corsair Capital and Centerbridge Partners. The Williams & Glyn’s business comprises 308 RBS branded branches in England and Wales; 6 NatWest branded branches in Scotland; the retail and SME accounts attached to these branches; the direct SME business and certain Mid-Corporate customers across the UK.

Billabong signs refinancing deal – reuters

Australia’s Billabong International accepted a sweetened refinancing proposal from hedge funds Oaktree Capital Management and Centerbridge Partners, and appointed an industry veteran as its new chief executive, writes Reuters. The moves could help the surfwear company turn around its performance, which has been hit by slumping sales of its key brands and a costly expansion strategy since it knocked back a A$850 million ($794.71 million) private equity bid last year.

AZZ Buys Aquilex SRO for $250 Mln

AZZ Inc. has acquired Aquilex Specialty Repair & Overhaul, a unit of Aquilex Holding, for $250 million. The transaction closed April 1. Aquilex SRO is majority owned by Centerbridge Partners. Norcross, Ga.-based Aquilex SRO provides maintenance, repair, and overhaul services to the nuclear, fossil power, refining, chemical processing, pulp and paper, and waste-to-energy industries. Houlihan Lokey advised Aquilex SRO.

Reuters – Centerbridge Eyes RBS Branches

U.S. private equity firm Centerbridge Partners is interested in the 315 UK branches being sold by state-backed Royal Bank of Scotland, writes Reuters. Sky News, which first reported the interest, said Centerbridge had joined forces with another buyout firm – Corsair Capital – in recent weeks, but that it was unclear whether the duo would make a formal offer for the branch network, writes Reuters.

Centerbridge Buys Cardinal Logistics Management

Centerbridge Partners has closed its buy of Cardinal Logistics Management. Financial terms weren’t announced. Concord, N.C.-based Cardinal provides dedicated transportation services, including specialized equipment and handling, and integrated technology. PRESS RELEASE Cardinal Logistics Management Inc. (“Cardinal” or the “Company”), a national provider of Dedicated and Delivery domestic transportation services, today announced the acquisition of Cardinal […]

Centerbridge Partners Extends Offer to Acquire P.F. Chang’s China Bistro

In connection with a previously announced agreement to acquire P.F. Chang’s China Bistro, New York-based private equity firm Centerbridge Partners, in concert with P.F. Chang, announced today that Wok Acquisition Corp. has extended the expiration of its tender offer to acquire all of the outstanding shares of P.F. Chang’s common stock for $51.50 net per […]

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