(Reuters) - U.S. private equity firm TPG is interested in investing in Japan's Seibu Holdings by either buying a stake from top shareholder Cerberus Capital Management or by acquiring new shares, people with knowledge of the matter said.
Kohlberg & Co. has paid an undisclosed amount for a majority stake in Risk Strategies Co. (RSC), a national insurance & benefits brokerage based in Boston, according to a statement about the deal. Kohlberg made the investment from Kohlberg Investors VII, which recently closed on $1.6 billion, the statement said. The capital will be used to grow the company. RSC’s executive team remains intact and the company's management and employees have also retain "significant ownership," the statement said.
The dividend recapitalization may be one of the most controversial techniques of realizing returns in the buyouts business, but Ted Thorp, co-head of the leveraged finance group at ORIX USA, says recaps are a useful tool in the sponsor’s toolkit.
(Reuters) - Blackstone Group and Warburg Pincus are among the buyout firms through to the second round of the auction for Carlyle Group's aerospace communications firm Arinc Inc, several people familiar with the matter said this week. Hellman & Friedman, Advent International and BC Partners are also in the mix, sources said.
Strand Equity Partners said on Thursday that it has purchased a minority ownership stake in Bai Brands. No financial terms were disclosed. Based in Princeton, NJ, Bai is a beverage producer.
LBC Credit Partners, a provider of financing solutions to middle market companies, said on Thursday that it has recapitalized MPI Products with a $35,000,000 second lien term. A portfolio company of Monomoy Capital Partners, the Rochester Hills, Michigan-based MPI is a producer of components for powertrain systems, hydraulic systems and other automotive and industrial applications.
Wausau Paper, a producer of towel and tissue products, has closed its previously announced agreement to sell its specialty paper business to Expera Specialty Solutions, a newly formed company backed by KPS Capital Partners L.P., a New York-based private equity firm. The sale has resulted in net cash proceeds of approximately $105 million to Wausau after settlement of transaction-related liabilities, costs and taxes.
(Reuters) - New Century Real Estate Investment Trust, which is backed by private equity firm Carlyle Group, plans to slash its Hong Kong initial public offering by at least 50 percent because of tepid demand for new listings in the city, IFR reported on Thursday. The IPO will be at least half the up to $254 million originally planned, IFR reported. New Century owns four five-star hotels in mainland China.
Duke Street has signed an agreement with Paris-based investment firm Tikehau Group whereby Tikehau will become a 35 percent shareholder in Duke Street and provide committed capital to accelerate the firm’s deal-by-deal model. In partnership with Tikehau, Duke Street will have the capacity to underwrite any new deals in its target range.
Permaswage has been sold by Bridgepoint for $600 million to Precision Castparts Corp. Permaswage, which was acquired by Bridgepoint in 2007, is an aerospace component supplier manufacturing permanent and separable couplings used to connect hydraulic, air and other tubing in all types of civil and military aircraft.