(Reuters) – Private equity firm Blackstone Group (BX.N) is in exclusive, early-stage talks to buy MatlinPatterson’s Polymer Group (POLGA.OB), a non-woven materials maker, a source familiar with the matter said on Tuesday. Private equity firm MatlinPatterson has been trying to sell Polymer, in which it the largest shareholder, for months. Sources told Reuters in April […]
Just a short update on the California Pizza Kitchen auction: peHUB has confirmed that American Securities Capital has indeed pulled out of the CPK sale. Yes, I am late on this one. Last week, the NY Post reported that American Securities walked away from the auction after being in advanced talks. This came after the paper first reported that the CPK sales process was on and then off and then on. So I thought we needed clarity. It’s not clear if any other party is vying for CPK but at least we know American Securities is out. Harvest Partners was rumored at one point to be interested. Why American Securities walked away is also not immediately known. I’m told that there is still a disconnect between restaurant buyers and sellers on price. Restaurants are showing rebounding same store sales but any improvements are modest, a source says.
Another day, another healthcare deal. But this time I also get to write about helicopters. Brockway Moran & Partners and MVP Ventures have put Air Medical Group up for sale, sources say. Air Medical, which flies people in need of critical care to hospitals or medical centers, is a combination of several companies that the PE firms began buying in 2004. Buyout shops are mainly vying for Air Medical, with Bloomberg reporting that Bain Capital and Warburg Pincus are among the bidders.
Lovell Minnick Partners has agreed to invest $40 million for a minority stake in Dahlman Rose & Co., an investment bank focused on global supply chain markets like natural resources and transportation.
Irving Place Capital is nearing a deal to acquire a majority stake in pet products retailer Pet Supplies Plus, according to LBO Wire. The deal would include around $80 million in equity (including $18m from management). www.petsuppliesplus.com
Oaktree Capital is nearing a deal to acquire a stake in Irish homebuilder McInerney, according to The irish TImes. The investment could be worth between €30 million and €40 million.
(Reuters) – MBK Partners, the buyout fund that focuses on north-east Asia, has failed to put together a group to bid for a $5 billion controlling stake in Korea Exchange Bank (004940.KS), people familiar with MBK’s plans said. MBK had approached Nomura Holdings (8604.T), sovereign wealth funds and South Korean government pension funds to partner […]
Bain Capital and Warburg Pincus have made offers to acquire Air Medical Group Holdings, a provider of emergency transportation services, according to Bloomberg. Sellers Brockway Moran & Partners and MVP Capital Partners are seeking around $1 billion.
MELBOURNE (Reuters) – First Reserve Corp, the biggest shareholder in Australia’s Whitehaven Coal (WHC.AX), on Tuesday denied media reports it was looking to buy out Whitehaven and denied any rift with Whitehaven management. “FRC is not involved in any consortium, or in any proposed consortium, to privatise WHC,” First Reserve Corp said in a statement. […]
Google and Games: Google, which hasn’t made much headway in social networking, is looking to use games like Slide and Jambool to compete in the sector. BP Invests $3 Bln: British Petroleum, which is receiving much nicer press now, has made an initial $3 billion deposit into the $20 billion spill recovery fund. Web Proposal: Google and Verizon called on legislators to enact laws to prevent Internet carriers from blocking web sites or selectively delaying access to content common on the Internet. Big Tummies and Death: Men and women with more fat on their waistline have a higher risk of dying. So put down that doughnut. Making Drugs Legal: Vincente Fernandez, Mexicos' ex-president, said that country should legalize drugs to stop the rising cartel violence. Another Health Auction: Air Medical is receiving bids from Bain Capital and Warburg Pincus. Detroit Pistons Bid: Michael Ilitch, who owns the Little Ceasars Pizza chain as well as professional baseball and ice hockey teams, wants to buy the Detroit Pistons basketball team. Wash AG Settlement: Washington Attorney General is expected to announce Tuesday a settlement with an Internet company. TechCrunch hopes its Intellius.