NBGI Private Equity has sold its majority stake in Ochre House Limited to US-based Pinstripe backed by Accel-KKR. The sale delivers a 4x return on NBGIPE’s original investment.
Blackstone Group LP's Brixmor Property Group Inc, owner of neighborhood shopping centers, on Thursday filed with federal regulators to raise $100 million in an initial public offering, Reuters reported.
Private equity company J.C. Flowers is in the final stages of negotiations to buy 450 million pounds ($682.8 million) of Northern Rock loans from the British government, the Times newspaper reported on Wednesday.
Opposition to Michael Dell's bid to take his computer company private grew on Wednesday, and billionaire Carl Icahn argued Dell Inc had no right to delay a shareholder vote, even if the deal looked more likely to fail, Reuters reported.
Online optician and DN Capital portfolio company Mister Spex has acquired the eyewear online shops Lensstore and Loveyewear from Sweden. Lensstore sells contact lenses with a geographic focus on Sweden, Norway and Finland.
European financial services private equity firm AnaCap Financial Partners has backed the management buyout of Simply Business. Established in 2005 by parent company Xbridge, Simply Business uses technology to simplify the process of buying small business insurance.
HSBC Leveraged Finance has completed a refinancing of UK-based Trustmarque Solutions. This marks a new banking relationship for Trustmarque following the recent management buyout supported by UK mid-market private equity firm Dunedin.
U.K.-based water company Severn Trent Plc incurred legal and other costs of approximately £19 million (US$29 million) in responding to repeated acquisition offers from LongRiver Partners, an investor group led by Borealis Infrastructure Management, the investment arm of Ontario Municipal Employees Retirement System, and including Kuwait Investment Office and Universities Superannuation Scheme. The group's third proposal before the June 2013 deadline was estimated to value US$8.2 billion.
Fifth Street Senior Floating Rate Corp. said Wednesday that it raised $100 million in gross proceeds from an IPO. Fifth Street Senior Floating Rate, a business development company that invests primarily in senior secured loans, priced about 6.7 million shares at $15 each. Book runners on the deal included Morgan Stanley, Deutsche Bank Securities, UBS Investment Bank and Barclays.
McGraw-Hill Education, which is backed by Apollo Global Management, said Wednesday it bought Tata McGraw-Hill Education Private Limited, the company's long-existing joint venture with Tata Group. As part of the agreement, McGraw-Hill Education purchased the minority ownership stake in the company held by two Tata charitable trusts. Financial terms weren't announced.