Drinks maker Stock Spirits traded lower on its London stock market debut, after pricing its shares at the mid-point of its target range in a sale which valued the company at 470 million pounds ($760 million), writes Reuters. The British based-firm said majority-owner Oaktree Capital Management and company management had raised 206.5 million pounds from the offering.
Private equity firm Actis has invested $48 million in Indian pharmaceuticals company Symbiotec Pharmalab for a significant stake, writes Reuters. Symbiotec is a specialist producer of steroid-hormone active pharmaceutical ingredients and has over 200 customers, including large multinationals as well as generic pharmaceutical companies.
UK-based Travel Entertainment Group Equity Limited, a provider of entertainment solutions to the airline and cruise ship industries, has been sold to Global Eagle Entertainment Inc in the US. Harris Williams & Co acted as the exclusive financial advisor to TEG, a portfolio company of GCP Capital Partners.
First Reserve is to acquire TNT Crane & Rigging from Odyssey Investment Partners. TNT is a provider of lifting services and equipment to customers in the North American energy and industrial infrastructure end markets. Financial terms of the transaction were not disclosed.
Monroe Capital has backed a $14 million senior secured credit facility to help enable growth of a technology services company by private equity sponsors, Olympic Valley Capital and Boathouse Capital. The company provides IT support services to growing small and medium-sized businesses specializing in serving enterprises with 50 to 1,000 employees.
Sentinel Capital Partners, which just completed fundraising for its fifth pool, has put Engineered Controls International up for sale, three sources told sister publication peHUB.
Sentinel Capital Partners, which just completed fundraising for its fifth pool, has put Engineered Controls International up for sale, sources told peHUB.
Toronto-based food processing company Maple Leaf Foods Inc (MFI: TSX) has announced it is exploring strategic alternatives for its bakery business, including the possible sale of Canada Bread Company Ltd, a manufacturer and marketer of value-added flour-based products. Maple Leaf, which has a 90% interest in Canada Bread, has formed a committee of directors to oversee the process and recommend the use of proceeds in the event of a sale. Maple Leaf is a portfolio investment of West Face Capital, which acquired its stake in the company from Teachers' Private Capital in 2010.
According to the Wall Street Journal, The Container Store has priced its IPO of 12.5 million shares at between $14 to $16 a share. The paper further reports that the company plans on trading its stock on the New York Stock Exchange under the ticker symbol "TCS." Headquartered in Coppell, Texas, The Container Store, which is owned by private equity firm Leonard Green & Partners, is a retail chain that sells storage and organization solutions.
Providence Equity Partners has agreed to purchase a majority stake in The Ambassador Theatre Group. No financial terms were disclosed. As part of the transaction, Exponent Private Equity will retain a minority stake in ATG. UBS Investment Bank served as exclusive financial advisor to ATG and Exponent in the deal. Ingenious Corporate Finance and Weil, Gotshal & Manges aided Providence in the transaction. Based in the UK, ATG is a theater production company.