Iris Dorbian
Clearlake Capital Group said on Tuesday that it has completed its acquisition of the Retail Solution Group from Agilysys and renamed the company. It will now be known as Kyrus Solutions. Also, Keith Bradley, an operating advisor at Clearlake, has been named chairman and CEO for Kyrus. Headquartered in Greenville, South Carolina, Kyrus is a provider of technology and managed services solutions for the retail industry.
Twin Capital Management LLC, a New York-based hedge fund firm, said on Tuesday that it has named Sarah Petner as vice president. In her new position, Petner will report to Kevin Gahwyler, COO and business development director and work on expanding Twin Capital's efforts in marketing and investor relations. Prior to joining Twin Capital, Petner worked as an associate at Jeffries LLC.
SanDisk Corp. has entered into an agreement to buy SMART Storage Systems from Silver Lake and its portfolio company SMART Worldwide Holdings for approximately $307 million. The transaction is expected to be close in August 2013. SMART Storage Systems is a provider of software storage products.
Greycroft Partners has named John Elton as a partner to the investment team. In his new role, John will be based in the firm's New York office. Prior to joining Greycroft, John served as a partner with iNovia Capital.
Charlesbank Capital Partners said on Monday that it has made an investment in Trojan Battery Company. No financial terms were disclosed. GE Antares Capital provided the debt portion of the financing while Houlihan Lokey was financial advisor to Trojan Battery for the transaction. Headquartered in Santa Fe Springs, Calif., Trojan Battery Company is a producer of lead acid batteries.
The Dow Hotel Company has teamed up with The Carlyle Group’s Carlyle Realty Partners VI to buy the Evanston, Illinois-based Hilton Orrington hotel. No financial terms were disclosed. Hospitality Funding, a Palm Beach, Florida.-based boutique investment firm, advised the buyers on the transaction.
Arbor Investments, a Chicago-based private equity firm that focuses on the food, beverage and packaging sectors, said on Monday that it has completed its buy of Keyes Packaging Group. No financial terms were disclosed. Headquartered in Wenatchee, Washington, Keyes is a provider of protective molded fiber and tissue wrap packaging for the food and beverage industry.
CoreLogic, a provider of leading residential property information, analytics and services, said on Monday that it has entered into an agreement to acquire Marshall & Swift/Boeckh and DataQuick Information Systems from the Decision Insight Information Group, a portfolio company of TPG Capital. The transaction, which is expected to close during the third quarter of 2013, is valued at $661 million. Evercore Partners served as financial advisor to CoreLogic for the deal while BofA Merrill Lynch was financial advisor to DIIG. MSB is a provider of property valuation solutions to the property and casualty insurance industry. DataQuick Information Systems is a provider of property data and analytics.
Altamont Capital Partners said on Monday that it has acquired Richard's Cajun Foods and Blue Ribbon from Atlantic Premium Brands. No financial terms were disclosed. Richard's Cajun Foods is a producer of Cajun food products while Blue Ribbon is a South East Texas bacon and sausage company.
Steinway Musical Instruments said on Monday that it has entered into an agreement to be acquired by an affiliate of Kohlberg & Company for approximately $438 million. Ropes & Gray served as legal counsel to Kohlberg for the transaction. Headquartered in Waltham, Massachusetts, Steinway Musical Instruments is a producer and distributor of high quality musical instruments.