Stirling Square Capital Partners has acquired Environmental Solutions Europe Holding BV, a Germany-based maker of waste containers and recycling systems, from OTTO Group. No financial terms were disclosed.
Hale Capital Partners has sponsored a recapitalization of Telenetix Inc. (OTC BB: TNXI), a Bellevue, Wash.-based provider of voice services to the business market. The deal includes $3 million of working capital, and allowed Telenetix to reduce its outstanding senior debt from $29.6 million to $7.5 million.
Body Central, a Jacksonville, Fla.-based apparel retailer focused on women in their late teens and twenties, has filed for an $86.25 million IPO. It plans to trade on the Nasdaq under ticker symbol BODY, with Piper Jaffray and Jefferies & Co. serving as co-lead underwriters. The company reports $2.78 million in net income for 2009, […]
NEW YORK (Reuters) – The U.S. trustee overseeing Extended Stay America Inc’s bankruptcy case urged a judge on Wednesday to reject the hotel chain’s plan to reorganize, saying it shortchanges creditors. In a filing with the U.S. bankruptcy court in Manhattan, acting U.S. Trustee Tracy Hope Davis said parts of Extended Stay’s chapter 11 reorganization […]
NEW YORK (Reuters) – Carlyle Group is being sued by the liquidators of a failed mortgage-securities fund that was set up by the private equity group, a spokesman for the liquidators said. The lawsuit, which is being filed in the United States and Europe, alleges that Carlyle Group and the former directors of the mortgage-securities […]
LLR Partners has agreed invest an undisclosed amount in Lightspeed Financial Inc., a provider of direct market access trading technology, risk management solutions and brokerage services. Lightspeed will use some of the proceeds to fund its previously-announced acquisition of Terra Nova Financial.
HealthPlan Holdings Inc., a portfolio company of Water Street Healthcare Partners, has acquired GemGroup, a Pittsburgh-based provider of accounting, pension and 401(k) administration software to employee benefit plans for unionized workers. No financial terms were disclosed.
MidCap Financial LLC, a commercial finance company focused on mid-market healthcare, has secured a $250 million credit facility. Wells Fargo Capital Finance led the bank group, and was joined by SunTrust Bank, Goldman Sachs Bank USA, and Key Equipment Finance. MidCap Financial is a portfolio company of Lee Equity Partners, Genstar Capital and Moelis Capital Partners.
Elevation Partners was originally known for its high-profile partners, including Roger McNamee, Fred Anderson and Bono. But it quickly became better known as the firm that kept plugging money into Palm, the PDA maker whose popularity seemed to have peaked in around 2001. "As goes Palm as goes Elevation," summed up an investor in the firm's $1.8 billion debut fund. Last week, HP completed its $1.2 billion acquisition of Palm, which gave around a 5% cash-on-cash return from its $460 million in total investments. Not very good, but better than Elevation would have faired in the Palm bankruptcy that some predicted. To get a better sense of the Palm situation from Elevation's point of view, I spent some time on the phone with Fred Anderson, the ex-Apple CFO who repped Elevation on the Palm board of directors. The conversation actually took place back when the deal was first announced in April, but Palm lawyers prevented me from publishing it until now. What follows are some of his comments from our conversation:
Corinthian Capital Group has acquired STADCO, a Los Angeles-based maker of components and tooling for the commercial aerospace and defense markets, from Omninet Capital. No financial terms were disclosed.