Brockway Moran & Partners, a middle market firm founded in 1998, is not raising a new fund, peHUB has learned. But does this mean the firm is a zombie? Not so fast.
Buyout pros pride themselves on their ability not only to do deals and build companies but also to exit their investments in an efficient, profitable manner. Jerry L. Mills tells sister magazine Buyouts they might find it beneficial to offer some of that expertise to small businesses that could become deals for them in years to come.
Prospect Capital Corp. said Monday that it recently provided financing to support the recapitalization of Traeger Pellet Grills by Trilantic Capital Partners. No financial terms were disclosed. Based in Wilsonville, Oregon, Traeger is a provider of wood pellet grills, wood pellets and grilling accessories. Also, Prospect recently provided financing to support the recapitalization of an unidentified private-equity owned company in the consumer services sector.
Grow VC Group said Monday that it has acquired Kapipal. No financial terms were disclosed. Kapipal is a crowdfunding platform.
Mobileye N.V. said late Sunday it sold a $400 million equity stake to five "unaffiliated and highly regarded financial investors." Mobileye didn't disclose the buyers but Dealbook says they include BlackRock, Fidelity Investments, Wellington Management Co., Enterprise Rent-A-Car and Chinese Investment firm, Sailing Capital. The deal, which values Mobileye at $1.5 billion, is expected to close in August. Mobileye, of Amsterdam, develops advanced driver assistance systems.
Online coupon company Retailmenot Inc is looking to raise up to $200 million in an initial public offering that may value the company at more than $1 billion, Reuters reported.
U.S. private equity firm TPG is buying TSL Education, publisher of the Times Educational Supplement, from Charterhouse in a deal worth 400 million pounds ($595.30 million), sources told Reuters.
Envision Pharmaceutical Holdings said Monday it has agreed to be sold to TPG. Company management and other Envision senior executives will take a significant minority stake in the company. Financial terms weren't announced. Envision is a pharmaceutical benefits manager. J.P. Morgan served as financial advisor to Envision while Bank of America Merrill Lynch and Credit Suisse were financial advisors to TPG. J.P. Morgan, Bank of America Merrill Lynch and Credit Suisse are providing financing to TPG.
Dell's special committee said Monday that Institutional Shareholder Services has recommended that Dell shareholders vote for the proposed sale of the company to Michael Dell and Silver Lake Partners for $24.4 billion. ISS, according to Dell's special committee, said it recommended the sale which "offers a 25.5% premium to the unaffected share price, provides certainty of value, and transfers the risk of the deteriorating PC business and the company's on-going business transformation to the buyout group."
Intervale Capital has acquired Milam Tool Company. Financial terms weren't announced. Milam, of Oklahoma City, makes solid-body centralizers, stabilizers, and stop collars.