Hotel chain Extended Stay America Inc, which is backed by investors including Centerbridge Partners and Blackstone, has filed with regulators to raise up to $100 million in an initial public offering less than three years of emerging from bankruptcy protection, Reuters reported.
Beacon Equity Partners said Monday that it has completed its sale of Anaqua and SGA2 SAS to Insight Venture Partners. No financial terms were disclosed. Marks Baughan & Co. was the investment banker for the transaction. With offices in Boston, London and France, Anaqua is a provider of intellectual property software. SGA2 SAS is a France-based provider of patent annuity and trademark renewal services.
Carey Watermark Investors said Monday that it has sold its stake in a joint venture owning two hotels to its partner in the venture, Ensemble Hotel Partners, for approximately $22.6 million. As part of the transaction, Ensemble will retain all third party debt of the venture. Based in Long Beach, Calif., the two hotels are Hotel Maya, a Doubletree by Hilton and Residence Inn Long Beach Downtown.
Atlanta-based private equity firm Roark Capital Group said Monday that it has acquired Miller's Ale House from owners Jack Miller, KarpReilly and SKM Equity Fund III. No financial terms were disclosed. Also, Phil Hickey, who is currently serving as chairman of the National Restaurant Association, joins Miller's Ale House as chairman. North Point Advisors and Ropes & Gray served as advisors for Miller's Ale House and KarpReilly for the transaction while King & Spalding and DLA Piper advised Roark Capital. Based in Jupiter, Fla., Miller's Ale House is a casual dining restaurant chain.
Cerberus Capital Management said Monday it has acquired two portfolios of German real estate properties. Financial terms were not announced. First, Cerberus has agreed to buy a portfolio of nine shopping centers, which include a combined floor space of 92,000 square meters, from Wells Fargo. Cerberus has also agreed to buy ten German retail properties, with an have an aggregate floor space of 263,677 square meters, out of administration.
At least four peers of Europe's biggest bathroom equipment maker Grohe submitted exploratory offers for the private-equity owned company by Friday's deadline, writes Reuters. Grohe's owners, TPG Capital and the private equity arm of Credit Suisse, are running a dual-track process that may result in a stock market listing in the autumn, writes Reuters.
KKR is to acquire a 9.5 percent stake in PT Tiga Pilar Sejahtera Food (TPSF). TPSF is controlled by TPS Group which was founded over five decades ago in Central Java. The company is a major player in the food business in Indonesia. Terms of the transaction were not disclosed.
French producer of wind energy Kallista, which is owned by AXA Private Equity has completed the wind farm project in the Ardouval Park, Seine-Maritime, France. This project has been 100% equity financed and developed entirely in-house and is the first Greenfield project for Kallista since 2010.
BioAmber Inc. (NYSE and EURONEXT Paris: BIOA), a company focused on converting renewable feedstock into chemicals, has closed a US$25 million term loan with U.S. specialty finance firm Hercules Technology Growth Capital. The debt facility will provide capital needed to construct and start a 30,000 metric ton bio-succinic acid facility in Sarnia, Ontario. The venture-backed BioAmber, which has offices in Montréal and Minneapolis, Minnesota, raised US$71.9 million from its initial public offering in May 2013.
Mississauga, Ontario-based Colet, a label manufacturer and provider of packaging supplies, has been acquired for an undisclosed amount by the ID Technology division of Pro Mach Inc. Colet will serve as ID Technology’s first label converting and production facility in Canada. Cincinnati, Ohio-based Pro Mach is a portfolio company of U.S. private equity firm The Jordan Co., which bought the business from Odyssey Investment Partners in 2011.