AlphaStaff Appoints President and CEO

AlphaStaff, a human resource outsourcing firm serving small and medium-sized businesses, has appointed Neal Bibeau as the company’s president and chief executive officer. Prior to AlphaStaff, Bibeau served as president and chief executive officer of DecisionOne Corporation. He also served as an advisor to Cerberus Capital Management across a range of industries, including outsourced business […]

Cerberus Sells Japan Staffing Business to CVC

US buyout firm Cerberus Capital Management has sold the Japanese operations of an employment agency to private equity firm CVC Capital Partners for an undisclosed amount, writes Reuters. The business was recently renamed Prompt Holdings. Current management will not be changed, writes Reuters. Reuters – US buyout firm Cerberus Capital Management has sold the Japanese […]

Mortgage Companies Look Ripe for Deals

Several private equity firms have lined up to invest in mortgage providers and servicers in recent weeks, suggesting more firms are eager to get back into a much maligned sector as it staggers out of the Great Recession,Buyouts reports in its March 26 edition. In less than a week, between March 9 and March 14, […]

Covis Secures Agreement with Glaxo

Covis Pharma Sàrl, a Switzerland- based specialty pharmaceutical company owned by affiliates of Cerberus Capital Management has reached an agreement with GlaxoSmithKline to acquire full commercial rights for some of its products in the US and Puerto Rico. Covis Pharma is also backed by Princeton Biopharma Capital Partners and Bourne Capital Partners. PRESS RELEASE Align […]

Cerberus Capital Management Sells Four Points Media

Sinclair Broadcast Group has closed its acquisition of Four Points Media from Cerberus Capital Management for $200 million. Sinclair had been operating the Four Points TV stations since October 1, 2011, pursuant to a Local Marketing Agreement, while it awaited FCC approval. PRESS RELEASE Sinclair Broadcast Group, Inc. SBGI +5.12% , the “Company” or “Sinclair,” […]

Covis Pharma Buys Glaxo Portfolio

Covis Pharma — a Switzerland-based pharmaceutical company backed by Cerberus Capital Management, Princeton Biopharma Capital Partners and Bourne Capital Partners — is buying the U.S. commercial rights for several drugs from GlaxoSmithKline. Terms of the agreement were not disclosed. GlaxoSmithKline will retain the existing rights for the products in countries outside the United States.

GeoEye Appoints General Carns

GeoEye, a leading source of geospatial information and insight has appointed General Michael P. C. Carns to serve on its board of directors. He joins nine other board members and has been appointed as the board representative of Cerberus Capital Management. GeoEye partnered with Cerberus, which provided financing support of the Company’s bid on the […]

Chatham, Cerberus Close $1.02 Bln Buy of 64 Innkeepers Hotels

Chatham Lodging Trust and Cerberus Capital Management said Thursday that they have completed their buy of 64 hotels of Innkeepers USA Trust. The total gross purchase price was about $1.02 billion. Cerberus/Chatham were locked in a bitter dispute with Innskeeper USA Trust for two months after backing out of a deal to buy the hotels at a higher price.

Innkeepers, Cerberus Reach Tentative Deal

(Reuters) – Cerberus Capital Management and Chatham Lodging Trust have reached a tentative agreement to buy bankrupt Innkeepers USA Trust at a lower price than in an earlier deal that fell apart, a source close to the talks said. Cerberus and Chatham would acquire 64 of the bankrupt hotel operator’s properties for about $1 billion […]

Buyers Circle Cooper Standard

Carlyle Group, Cerberus Capital Management and Platinum Equity are among the private equity firms interested in buying US auto parts maker Cooper Standard, but tough financing markets make a deal uncertain, people familiar with the matter said to Reuters.

Cerberus, Innkeepers Trial Postponed

A trial over whether Cerberus Capital Management and Chatham Lodging Trust were justified in backing out of a $1.12 billion deal to buy hotels run by Innkeepers USA Trust has been postponed, Reuters reported Monday. The trial has been pushed back to Tuesday.

Garanti and Cerberus Form Turkish J-V

Garanti Bank subsidiary Garanti Securities and Cerberus Capital Management have formed a joint initiative to pursue investments in Turkey. Cerberus Turkey, an affiliate of Cerberus Capital Management already has US$400 million to invest in Turkish businesses. Garanti Securities and Cerberus anticipate raising additional capital starting next year to reach a total of up to US$1 billion in a new, jointly managed fund. Target equity value will be US$50 million to US$250 million.

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Cerberus Fund V May Go Bigger than $3.75 Bln

Cerberus Capital Management is looking to raise $3.75 billion with its fifth fund, a person says.

Fundraising for the pool is in the early stages. Cerberus has received lots of interest in Fund V and the New York PE firm may boost the size of the fund, the source says. However, the firm is unlikely to increase the pool to $5 billion or more, the person says.

Monument Group is placement agent for Fund V, the source says.

Cerberus Wants Innkeepers Discount

(Reuters) – Cerberus Capital Management LP’s deal to buy 64 hotels from bankrupt Innkeepers USA Trust could still go forward, but at a lower price, two sources familiar with the situation told Reuters. Cerberus and joint venture partner Chatham Lodging Trust, which on Friday terminated a deal to buy the hotels for $1.12 billion, could […]

Slideshow: 10 Largest Pending Q2 LBOs

Buyouts recently wrapped its Q2 quarterly deal wrap-up, and the consensus, to put it bluntly, was ugly. Though our data was cut off at June 15, the results showed U.S.-based PE firms had closed 38 percent less control-stake deals in Q2 than in Q1, according to Thomson Reuters. This suggests many firms have spent much […]

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