(Reuters) – Chinese retailer GOME Electrical Appliances Holding Ltd (0493.HK) said it had received a letter from a firm owned by its jailed founder and biggest shareholder, seeking to terminate several agreements with the company. In a statement to the Hong Kong stock exchange, GOME said on Monday that Beijing GOME, a company owned by […]
(Reuters) - Private equity fund Carlyle Group concluded the purchase of a 51 percent stake in Brazil's Scalina, the owner of a pantyhose maker, Folha de S. Paulo reported on Sunday. The funds for the 280 million reais-deal ($159.7 mln) will come from South America Buyout, a Carlyle fund, and a fund Carlyle has in partnership with state-run Banco do Brasil, Folha said. "The rise of the middle class, the increase in consumption and investments in infrastructure, which will eliminate bottlenecks in the sector, are some of the reasons for the investment in Scalina," Juan Carlos Felix, director of Carlyle in Brazil told Folha.
PE firms are in talks to invest in Nokia Siemens Networks, the network equipment joint venture owned by Nokia and Siemen. However, neither Nokia nor Siemens is seeking an early exit from NSN, the Financial Times reported Sunday.
A handful of investors are interested in NSN. A deal could be worth $1 billion and raises the possibility of an IPO, the FT said. Last month, the FT said that Blackstone and TPG were interested in NSN while Silver Lake Partners and Bain Capital were linked. Not all of the companies are still involved, a source told the FT.
Niagara Acquisition Inc., which is owned by KingSett Capital and certain clients managed by Alberta Investment Management Corp. (AIMCo), has inked a deal to buy all of the outstanding equity interests in ING Summit Industrial Fund LP. The sellers are Realty Holding LP and Realty Holding II LP. The deal is valued at roughly CDN $2 billion, including debt. Niagara has also agreed to buy ING Real Estate Canada LP, the manager of Summit. KingSett is a PE real estate firm in Canada. AIMCo is a large institutional investor in Canada.
Just a short post on the Air Medical Group sale before I head out for the weekend. Bain Capital inked a deal last night to buy Air Medical for $1 billion. Brockway Moran & Partners and MVP Capital Partners are the sellers. Air Medical, which flies people in need of critical care to hospitals or medical centers, is a combination of several companies that the Brockway and MVP began buying in 2004. The sale to Bain is expected to close during the third or fourth quarter.
Denver-based Platte River Ventures completed the recapitalization of Global X-Ray & Testing Corp., which provides testing and evaluation services to the oil and gas industry. Financial terms were not disclosed. McGladrey Capital Markets served as Global X-Ray’s exclusive financial adviser.
St. Louis-based Thompson Street Capital Partners acquired a majority interest in Barcodes Inc., a Chicago company engages in barcode, mobile computing and radio-frequency identification solutions. Financial terms were not disclosed. Thompson Street Capital, which manages $450 million in capital, has made six acquisitions this year.
Today, I was reading the wires, and my competitors, when I spotted something familiar. There’s a story in the New York Post about the sale of Aspen Dental and how the company could be sold for $500 million. But wait. Didn’t I—meaning peHUB—report last week that Leonard Green & Partners was buying the company for $500 million? I believe so. Without thinking, I did what I always do. I started writing a snarky email to my boss, where I giggled about my competitors. I was nearly done before I realized that Dan is gone. Heavy sigh. And that’s one of my biggest losses here with how things are changing. I’ve only been at peHUB three months, but I’ve been a reporter for over 10 years. Some of you know me pretty well, some a little bit and some wonder why my avatar is so goofy. But let me tell you this. Rarely, have I found a boss who can talk scoops with me, what’s going on in the PE world, and how my cat is doing, all rolled into one person. Dan might be too busy with his new job to talk to me.
Doughty Hanson Technology Ventures has bought 50,000 First Preferred Shares and roughly 5.2 million warrants of Sustainable Energy Technologies Ltd. for $500,000. Doughty Hanson, a European PE shop, currently holds 100% of the Series 9 Shares of Sustainable Energy. Alberta, Canada-based Sustainable Energy makes solar inverters. Doughty has previously committed to providing up to $3 million in new equity to Sustainable Energy over the next 6 months .
(Reuters) – Private equity firm Bain Capital LLC has reached a deal to buy Air Medical Group Holdings, the largest independent U.S. provider of emergency air medical services, for around $1 billion, a source familiar with the matter said on Thursday. It is the latest in a string of deals which has seen private equity […]