Sorgenia, an Italian energy company, and KKR have formed a partnership to produce wind energy in France. Partners Group AG is expected to co-invest. KKR and Sorgenia will have an equal share in the JV and Sorgenia will manage the operations. The JV will be comprised of wind parks already built by Sorgenia, with net capacity of approximately 153 MW as well as wind parks with net capacity of 95 MW.
LivingSocial, one of the leading U.S. online daily deals operations, expanded into Europe with the acquisition of French daily deal site Dealissime.com. The transaction brings to 13 the number of countries in which LivingSocial operates. Specifics of the transaction were not publicized. Among LivingSocial’s backers are Grotech Ventures, Steve Case, US Venture Partners, Lightspeed Venture […]
Cross Atlantic Partners has invested in Rootstock Software. Financial terms weren't announced. Rootstock, of San Ramon, Calif., is a SaaS provider of manufacturing enterprise software for middle market manufacturers. Radnore, Pa.-based Cross Atlantic is a VC firm with over $500 million under management.
Dodd-Frank has claimed its latest victim. Cleveland-based KeyCorp, which has about $90 billion in assets, has decided to no longer invest in PE funds. The bank has spun off its PE affiliate, Key Principal Partners Corp., says Leland Lewis, a KPP managing partner based in New York. Executives of Key Principal Partners have launched a new firm, Cyprium Investment Partners, that retains the investment mandate of KPP, he says.
Minnesota private equity firm Tonka Bay Equity Partners completed a dividend recapitalization of its portfolio company, Circuit Check Holdings, which provides test solutions for printed circuit board assemblies. Specifics on the transaction were not publicized, but Tonka Bay and other Circuit Check shareholders get a cut and the rest will be used to fund growth.
The Gores Group has invested in Big Strike, a Gardena, Calif.-based maker of casual and career junior lifestyle apparel for women. Financial terms were not announced. Paula Schneider was also appointed CEO of Big Strike, according to a statement. The Sage Group provided financial advice to Big Strike.
Berlin-based startup 6Wunderkinder received backing from investor T-Venture, the VC arm of Deutsche Telekom, to foster its international expansion. This additional funding comes just six months after the Berlin-based company raised €500,000 from the High-Tech Gründerfonds. Thomas Grota, Senior Investment Manager of T-Venture, worked on the transaction for the investor.
NEW YORK (Reuters) – Carlyle Group is looking to pick banks to underwrite its planned IPO in the coming month, four sources familiar with the situation said, making it the latest buyout firm to tap the public markets. Carlyle, which is gearing up to join publicly traded rivals Blackstone Group, Kohlberg Kravis Roberts & Co […]
NEW YORK, May 31 (Reuters) – Yahoo Inc has resolved a dispute with partner Alibaba Group over the Chinese company’s transfer of its prized online payments unit to its CEO Jack Ma, two sources close to the matter said. Yahoo’s feud with Alibaba, 43-percent-owned by the U.S. firm, over the Chinese company abruptly transferring Alipay, […]
Monroe Capital announced Wednesday that it has provided a $28.45 million credit facility to Evergreen Maintenance Center. Monroe Capital’s debt facility was used to finance the acquisition of Evergreen by Relativity Capital and provide ongoing working capital, the firm said. Monroe Capital also made an equity co-investment in the transaction.