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Frontenac Places $55M Behind E-Businesses

19 years ago

Launching an acquisition strategy directly alongside a more traditional venture investment, Frontenac Co. of Chicago recently led investments totaling $55 million in two e-business service companies. Redshift Interactive of Boulder, Colo., closed its first acquisition June 7, with financing for the transaction coming from Frontenac’s $30 million equitycommitment. The company wants to become a single-source […]

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In the Far East, the Year of the Buyout’ Beckons –

19 years ago

Private equity in Asia, investors are told, is the hot ticket. The region’s economy is experiencing a burst of growth, and limited partners won’t want to miss the chance to stake their claim in the future prosperity. Skeptics, by contrast, dismiss the Asia funds as a “flavor of the month” phenomenon-a hyped group of investment […]

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Vestacor Looks to G.P.s For Africa Co-Investing –

19 years ago

Vestacor, a boutique investment firm in South Africa, is rolling out retail chains across Africa and is looking to raise capital from U.S. buyout firms to fund the effort. The group is part of the growing private equity community in South Africa that includes Ethos Private Equity (formerly FirstCorp Capital Investors) and Brait Capital Partners, […]

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MidMark Looks for Help From SBA on Fund II –

19 years ago

After providing impressive returns for Uncle Sam through its first fund, MidMark Associates is back on the market with a $150 million buyout fund, this time relying less on grants from the Small Business Administration. MidMark will raise $100 million and put half of that into a Small Business Investment Company program run by the […]

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Harbert Manages First Close on $57.5M –

19 years ago

After 19 months of fund raising, Birmingham, Ala.-based Harbert Management Corp. in April saw a first close on its debut buyout fund, and this month made the fund’s first platform acquisition-the $70 million buyout of telecommunications company Unity Communications. Harbinger Private Equity Fund I closed on $57.5 million in late April. According to Charles Shook, […]

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Trivest Puts a New Finish On an Old Platform –

19 years ago

Trivest last month agreed to invest between $30 million and $35 million in equity-or approximately 15% of its current buyout fund-in a $276 million acquisition of WinsLoew Furniture, with co-investors chipping in an additional $45 million. Through the deal, the firm is looking to once again gain control of a company that it has had […]

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Charlesbank Invests In Early 90s-Style Deal –

19 years ago

Taking a page out of the early 1990s, Charlesbank Capital Partners, LLC last month completed an all-equity buyout of J.H. Heafner Co., an auto parts retailer. The business has a leading position in the independent tire market but a weak financial profile because of the debt it secured, according to a May 1998 Standard & […]

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Done Deals In Brief: –

19 years ago

New York-based Harvest Partners through portfolio company Intellirisk Management Corp. acquired three add-ons for a total transaction value of $61.5 million, according to a statement from the firm. The three companies-Financial Management Control, National Commercial Recovery and Debt Control Center-all specialize in the debt collection industry.

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Euro Investment Sees Solid Gains in 1998 –

19 years ago

Europe’s private equity managers invested a record ecu 14.5 billion ($16.97 billion) in 1998, nearly 50% more than in the previous year, according to a survey conducted by PricewaterhouseCoopers on behalf of the European Private Equity and Venture Capital Association (EVCA). Fund raising, by contrast, increased only 1.7% from the previous year, but nevertheless also […]

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European Tandem Wins GBP1.3B AstraZeneca Unit –

19 years ago

Cinven and Investcorp last month signed papers with AstraZeneca for the GBP1.3 billion ($2.1 billion) acquisition of its Zeneca Specialties division. The agreement highlights the recovery in the European high-yield market as the structure involves a planned GBP335 million high-yield issue, led by Chase Manhattan Corp. If successful, it will be the largest bond raised […]

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Delta Airlines Looks To Soar with Private Equity –

19 years ago

When Delta Airlines hired Terry Blaney from Washington State Investment Board a year ago to take an aggressive stance in building its private equity program, the buyout community trumpeted the move. Mr. Blaney, well known for turning Washington into one of the larger LBO investors in the mid 1990s, was expected to make more buyout […]

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Hicks Muse Hooks Seafood Spinout –

19 years ago

It’s all about the shell game for Hicks, Muse, Tate & Furst Inc., which last month agreed to acquire a company that processes and distributes non-fat simulations of lobster, crab and scallop meat. The acquisition will be made by International Home Foods, a publicly-listed company in which Hicks Muse owns a 60% stake. Terms of […]

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Linsalata Capital Irons Out Clothing Deal –

19 years ago

Hoping to cash in on the “casualization of America,” Linsalata Capital Partners last month agreed to acquire Alpha Shirt Co., which distributes imprintable sportswear, for a total transaction value of $95 million. Linsalata Capital contributed $30.5 million in equity, with the balance of debt provided by a syndicate of banks led by Key Bank. Massachusetts […]

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Brera Scores Second With Cable Co. Buyout –

19 years ago

Add Brera Capital Partners to the list of private equity groups clamoring to make a play in the cable television industry. The New York buyout group earlier this month agreed to buy a 64.4% stake in Classic Communications, an Austin, Texas-based operator of non-metropolitan cable systems, for $100 million in equity. The capital infusion will […]

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Fox Paine & Co. Looks To Double Down in Deal –

19 years ago

Fox Paine & Co., LLC this month agreed to buy publicly traded Maxxim Medical, a manufacturer of medical equipment, in a deal valued at approximately $830 million, including assumed debt. Upon completion of the deal, the firm will split the company into Maxxim, which Fox Paine is pricing at $600 million, and Ciron Corp.-currently a […]

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Coller Capital Finds $250M For Secondaries –

19 years ago

The interest L.P.s have shown in international buyout funds has begun to extend to secondary partnerships. Coller Capital, a London-based firm that invests exclusively in secondaries-has grown rapidly in the last four years and now is close to wrapping its third fund, thereby becoming one of the largest players in that increasingly crowded market niche. […]

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Citicorp Asia, CVC Team To Launch Asia Fund –

19 years ago

Citicorp Capital Asia and CVC Capital Partners are joining forces to raise a pan-Asia buyout fund with a target of $750 million. CVC Asia Pacific, now in pre-marketing, is one of several new funds looking to buy divisions of cash-strapped conglomerates in the Far East (see story p. 1). According to Mary Lynn Putney, a […]

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Blackstone, AIG Launch Asian Advisory Group –

19 years ago

The Blackstone Group and AIA Capital Corp., the Asian investment and advisory branch of American International Group (AIG), this month formed a partnership that will focus on advising companies throughout Asia on various financial situations. The two firms have an exclusive collaboration agreement in five countries-Indonesia, Thailand, Malaysia, Singapore and Hong Kong-and will operate on […]

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