News and Analysis

The Carlyle Group will sell its majority stake in JMC Steel Group to the Zekelman family, which, until recently, controlled a minority stake. JMC will establish a new capital structure and debt facility and Carlyle will maintain a minority stake.
International private equity firm Investcorp has announced the members of its European Advisory Board. Among its members will be former Secretary General of the U.N. Kofi Annan and former Austrian chancellor Wolfgang Schüssel.
Standard & Poor's Ratings Services appears to like Freescale Semiconductor's plans to go public again. S&P said Monday that it's placed all of its ratings for Freescale, including the 'B-' corporate credit rating, on CreditWatch with positive implications. The change comes after Freescale filed for an IPO last week.The Austin-based chipmaker could raise as much as $1.15 billion with the offering. The company is expected to use much of the IPO proceeds to cut its massive debt load and for general corporate purposes. Freescale has about $7.6 billion in long-term debt, as of Dec. 31, plus another $602 million in other liabilities.
Huron Capital Partners said Monday that it has recapped Victoria Packing and committed $35 million to close the deal. Other terms of the transaction weren't disclosed. Huron, which targets lower middle market companies, said Victoria's existing management and other industry executives took part in the deal. Brooklyn, N.Y.-based Victoria produces and markets specialty Italian food products.
BI Inc., which is backed by AEA Investors, has merged with The GEO Group in a deal valued at roughly $415 million. The deal closed Feb. 10, according to Harris Williams, which advised BI. Boulder, Colo.-based BI provides technology, treatment and monitoring services for the corrections industry. GEO also supplies corrections, detention and residential treatment services for federal, state, and local government agencies. AEA, of New York, is a middle market PE firm.
Private equity fund Clessidra is dropping plans to bid on RCS MediaGroup's $50-million-stake in Italian Internet company Dada, Reuters reported. RCS, the publisher of Italian newspaper Corriere della Sera, started due diligence on its 50.7 percent Dada stake in October, Reuters wrote. The Carlyle Group is rumored to be interested in the Dada stake, as are Germany's United Internet and France's Digital Virgo, Reuters reported.
Private equity firm Clayton, Dubilier & Rice will pay $64 per share for healthcare and physician services company Emergency Medical Services Corp. The companies valued the deal at $3.2 billion. The $64-a-share price is 9% below EMS' closing price of $70.66 on Friday.
H.I.G. Europe, an arm of buyout shop H.I.G. Capital, will buy Aircom International Group from Advent International, the firm said in a release. UK-based Aircom provides network planning and optimization services for the mobile telecoms industry. Financial terms of the deal were not released.
L Capital, the investment firm co-funded by luxury group LVMH, is in talks to buy a stake in Indian jewellery retailer Gitanjali, Reuters reported. The deal is estimated between $100 million and $125 million, Reuters said.
Swedish private equity group EQT has acquired Taiwanese TV channel operator Gala TV, Reuters reported. EQT’s Greater China II fund bought the company with its chief executive, Lin Poa-Chuan, as co-investor, Reuters said. Financial terms of the deal were not disclosed.
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