After a long M&A drought, the private company M&A market is showing signs of life and recovery. If you own, operate or advise a middle market company, $5 million to $500 million in revenue, this will alter what you and your clients think about shareholder liquidity. Already, there are factors that should give lower- and […]
Private equity firm Advent is the frontrunner in the bidding for the Carbon Black unit of German chemical maker Evonik, Reuters reported. Advent is among three investors who have made bids of about 1 billion euros ($1.39 billion) for the business, which supplies carbon particles used in tires, laser printer and photocopier toners, Reuters wrote.
NEW YORK, March 8 (Reuters) – Plastics company Styron Corp is planning an initial public offering less than nine months since private equity firm Bain Capital bought it from Dow Chemical , two sources familiar with the situation said on Tuesday. The lead underwriters on the IPO are expected to be chosen in the next […]
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KKR, Vestar Capital Partners and Centerview Capital have completed their $5.3 billion buy of Del Monte Foods Co. The sponsor group paid $19 a share cash for Del Monte, which will cease trading on the NYSE before the opening of the market tomorrow.
Just how hard is fundraising right now? Consider Wynnchurch Capital, a middle market PE firm. Today, Wynnchurch announced that it has closed its third fund at $603 million. The pool was oversubscribed and came in above its $500 million target, according to a statement. But Wynnchurch spent two years raising that $603 million, says Roy Sroka, CFO. “Fundraising was difficult,” Sroka says. “It’s very, very nice to be done.”
Kohlberg & Co. portfolio company Chronos Life Group completed the acquisition of a majority ownership stake in Life Equity LLC, an Ohio-based life settlement provider and asset servicer. Ranks will be shuffled as part of the deal; Kyle Kibler, who was COO of Life Equity, will succeed company co-founder Brian Smith as CEO.
LONDON/FRANKFURT, March 8 (Reuters) – Private equity firm BC Partners raised 4 billion euros ($5.6 billion) for a new fund, people familiar with the situation said, beating expectations in a tough fundraising environment. The company told its investors on Tuesday it held a “first close” — the point after which it can start to invest […]
Kabra Extrusiontechnik Ltd., a unit of India’s Kolsite Group, has acquired a 15% stake in Gloucester Engineering Co. Kabra will acquire a stake in the company’s equity and debt and provide additional capital resources. Specific terms of the deal were not released. Private equity firm Blue Wolf Capital Partners is the majority owner of Gloucester Engineering.
Seven groups have been shortlisted for the second round of bidding in the auction for Polish mobile phone company Polkomtel, Reuters reported. The next round of bids are due in April, Reuters said, with a joint offer from private equity firms TPG Capital and Blackstone expected to compete with proposals from buyout shops Apax Partners, Kohlberg Kravis Roberts & Co., Providence Equity Partners, and Polish tycoon Zygmunt Solorz Zak, among others.