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Owner-operators of an NHL franchise in their portfolio, TowerBrook Capital Partners’ LPs have not been singing the blues, based on its returns. Now, the PE firm is considering its biggest fund ever.
Shale-Inland Holdings, a holding company majority-owned and controlled by funds of TowerBrook Capital Partners will acquire Shale-Inland as well as HD Supply’s IPVF business. Terms of the transactions have not been disclosed. Shale-Inland combines stainless, aluminum, carbon steel and protective film distribution with stamping and fabrication. HD Supply is a North American industrial distribution company. [...]
TowerBrook Capital Partners is emerging the frontrunner in the auction for ventilation and heating systems manufacturer Volution. The company is currently owned by AAC Capital Partners, Reuters reported Friday. AAC, the UK team of the former buyout arm of ABN Amro, acquired Volution in 2006 from Montagu Private Equity, Reuters wrote.
Private equity firm TowerBrook Capital Partners sold Jimmy Choo to Labelux GmbH for terms undisclosed. Labelux, the private investment firm, is reportedly paying up to $893 million in the deal, Reuters reported earlier. Rothschild acted as financial adviser, Hogan Lovells acted as legal adviser and KPMG advised on due diligence for Labelux. Joshua Schulman and the Management Team were advised by Pearce LLP. Tamara Mellon was advised by MX Capital Partners, Vedder Price, New York and Travers Smith, London. Goldman Sachs and Morgan Stanley acted as financial adviser and Kirkland & Ellis acted as legal adviser for TowerBrook.
Luxury shoemaker Jimmy Choo is mulling a 650 million pound ($1.08 billion) initial public offering in Hong Kong, Reuters reported, citing a piece in the Financial Times. Jimmy Choo is owned by buyout shop TowerBrook Capital Partners. A group of bidders is already vying for the shoemaker, with private equity group TPG Capital, U.S. clothing maker Jones Group and a consortium of Bahrain-based Investcorp and Germany’s Labelux reportedly bidding in the auction’s second round due in mid-May, Reuters wrote.
Clothing company Jones Group is among the bidders for private-equity-backed shoe maker Jimmy Choo, Reuters reported, citing a piece by Dow Jones. Bahrain-based Investcorp and Germany’s Labelux Group have made a joint offer for Jimmy Choo, Reuters said, while U.S. private equity firm TPG is also in the process, according to the Dow Jones report. Buyout firm TowerBrook Capital Partners bought Jimmy Choo in 2007.
Last year, pent-up M&A needs in the luxury goods space that were withheld through the recession’s dark days finally saw the light of day, as big brand names like Tommy Hilfiger exchanged hands. But Japan’s earthquake and tsunami caused investors great consternation—and for good reason; Japanese luxury goods consumers are a driving force for the industry.
As Japan slowly rebuilds while facing an ongoing crisis, dealmakers, too, are ready to pick up the pieces. Already, prognosticators are declaring the Japanese economy is on its way back….
Buyout shops are expected to be all over the Fortune Brands break-up, according to two senior bankers.
Firms that have had Fortune Brands on its radar for some time include The Blackstone Group, Carlyle Group, Kohlberg Kravis Roberts & Co and TPG Capital, said the head of financial sponsors at one bank. “Private equity firms are like hawks,” he said. “They’re motivated by movement, and there’s something happening here that makes this attractive.”
The Deerfield, Ill.-based company announced Dec. 8 that it plans to continue as a pure-play, publicly traded spirits business, while spinning off its home and security business to become an independent, publicly traded company; and selling or spinning off its golf business. The company made the move after pressure from hedge fund investor William Ackman.