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Corestate Group AG of Switzerland named Phillip Burns as chief executive officer. He will join the company in mid-February. Burns was formerly a financial managing director at Terra Firma Capital Partners. Burns will primarily be based in Zug, Swiitzerland.
Realogy Corp. seeks to amend its senior secured credit facility. The Parsipanny, N.J.-provider of real estate and relocation services wants to extend the maturity of its first lien term loans by three years from Oct. 10, 2013. It also wants to extend the maturity of its revolving credit facility from April 10, 2013 to April 10, 2016. In addition, the Apollo Management LP-backed company wants to extend the maturity of its synthetic letter of credit facility from Oct. 10, 2013 to Oct. 10, 2016.
BankUnited Inc. set terms of its initial public offering that will be more than twice as big as what was originally planned, Reuters reported. The bank plans to raise about $630 million when it seeks to have its shares listed in the New York Stock Exchange under the symbol “BKU”. It previously filed its plans to go public with a target of raising up to $300 million. Wilbur Ross's WL Ross & Co., Carlyle Group, Blackstone Group and Centerbridge Partners bought BankUnited in May 2009. BankUnited plans to sell 26.25 million shares for $23 to $25 a share.
Advent International of Boston, Mass., agreed to acquire The Priory Group from The Royal Bank of Scotland Group plc for an enterprise value of up to £925 million. Priory Group is a provider of mental health and specialist care services in the U.K.
Genstar Capital LLC named Paul M. Black as an operating executive. Black served with Cerner Corp. from 1994 until his retirement in 2007 as its chief operating officer. He has been a senior advisor with New Mountain Capital of New York since 2007, and he will remain an advisor to New Mountain. Genstar of San Francisco, Calif. is a middle market private equity firm focused on making investments in the life sciences, healthcare, financial services, software and industrial technology industries.
Moelis & Co. opened a new office in Dubai, United Arab Emirates. Augusto Sasso, who is head of MENA Investment Banking, will lead the office that is designed to provide financial advisory and capital raising services to clients in the Middle East and North African markets. Moelis is a New York-based investment bank.
Milestone Partners hired Ric Andersen as a partner and a member of the firm’s senior leadership team He will also serve on the firm’s investment committee. Andersen is a former managing director at Silver Lake Partners.
Latrobe Specialty Steel Co. named B. Christopher DiSantis as president and chief executive officer. DiSantis serves as President of Hawk Corp. before joining the Pennsylvania-based specialty metals maker and distributor. Latrobe Specialty Steel is jointly owned by Watermill Group of Lexington, Mass., and Hicks Equity Partners LLC of Dallas, Texas.
Sun Capital Partners of Boca Raton, Fla., acquired Manchester Industries through its PaperWorks Industries Inc. affiliate. Manchester Industries is a paper and paperboard converter based in Richmond, Va. The acquired business is expected to merge with PaperWorks Industries. The transaction will enhance PaperWorks’ product offering.
Monroe Capital LLC named Daniel M. Duffy a managing director and Sara E. Mongerson as director of institutional relationships and investor relations. It named Seth B. Friedman as operations manager, Jeffrey K. Williams as a vice president and Jeffrey M. Cupples as assistant vice president. Kyle A. Asher was hired as an associate. Monroe also promoted Alex Franky to director and principal. Monroe is a Chicago, Ill.-based a private investment firm focused on investments in middle-market companies.