Monthly Archives: January 2013
Wellspring Capital Management has acquired National Seating & Mobility Inc., a provider of rehab technology for people with permanent or long-term mobility loss. Ridgemont Equity Partners was the seller. Terms were not disclosed. National Seating & Mobility is based in Nashville, Tenn.
Publicly traded TJX Companies has paid roughly $200 million to buy Internet retailer Sierra Trading Post Inc. Harris Williams & Co. was the exclusive financial advisor to Sierra Trading Post. The deal closed on December 21.
Publicly traded PAREXEL International Corp. has acquired Liquent Inc., a provider of software and services designed to support the regulatory processes of life sciences companies. Terms were not released. Middle-market investment bank Harris Williams & Co. announced the deal Wednesday.
Law firm Morrison Cohen has promoted five of its attorneys: Jeffrey Brooks, Randi Mason and Josh Saviano become partners with the firm. Brett Dockwell and Latisha Thompson were promoted from associate to senior counsel status. Morrison Cohen is a commercial law firm based in New York.
Sateesh Andra, former venture partner with DFJ India, has left to join VentureEast, where he will lead a new fund in India.
Leading Chinese companies are looking for investments in Israeli technology to help boost their growth and development, similar to what U.S. companies have done in the past two decades, Reuters wrote Wednesday. A delegation of senior Chinese business leaders visited Israel last month in search of opportunities, pressing ahead with the trip despite rockets that fell in the commercial center of the country during fighting with Gaza militants. Chinese have invested $3 billion in Israeli companies to date. The biggest investment was the $1.4 billion acquisition of 60 percent of MA Industries, the world's largest maker of generic crop protection chemicals, by China National Chemical Corp. in late 2011.
Onex Corp. has paid $165 million for a 50% stake in BBAM, a manager of commercial jet aircraft. Onex and the BBAM management team also announced the purchase of $25 million of newly issued shares of FLY Leasing Limited, a lessor of commercial jet aircraft managed by BBAM. In total, Onex Partners III invested $185 million, of which Onex' share was $47 million as a limited partner in the Fund.
Storage and data security company Imation Corp. bought Nexsan Corp, a privately held provider of disk-based storage systems, for about $120 million in cash and stock, Reuters reported. Imation will pay $105 million in cash and $15 million in stock, the company said in a statement. Shares of Imation closed at $4.67 on the New York Stock Exchange on Monday.
Private equity firm Sun European Partners has sealed two acquisitions in the packaging sector totaling around $700 million, helping to consolidate an industry battling to cut costs to cope with faltering demand. Sun European, an arm of U.S.-based Sun Capital, said on Wednesday it had received regulatory approval to buy the cosmetics division of Rexam's personal care business and that it was also buying Paragon Print and Packaging. The deals bring Sun Capital's total number of deals in the packaging sector globally to 34 since its inception in 1995.
NXT Capital has provided provided a $32 million senior secured facility to fund Summit Park’s recapitalization of NSi Industries, the firm announced Wednesday. Summit Park is based in Charlotte, North Carolina. NSi Industries makes electrical connectors, time switches, and wire management products.