LONDON (Reuters) – Creditors of Gala Coral took control of the British gambling business on Monday to end one of Europe’s longest-running restructurings and wrest control from the firm’s private equity backers. The new deal will see mezzanine debt holders, led by Apollo Management [APOLO.UL], convert their 558 million pounds ($828 million) holding to equity […]
(Reuters) – Boston Private Financial Holdings Inc (BPFH.O) said it entered into an investment agreement with an affiliate of private equity firm Carlyle Group [CYL.UL], through which the bank holding company would raise about $6.3 million. Under the terms of the agreement, an entity controlled by Carlyle has agreed to purchase about 1.1 million shares […]
(Reuters) – U.S. buyout firm TPG is to buy British fashion retailer Republic in a deal worth about 300 million pounds ($445 million) from rival private equity house Change Capital Partners. Republic’s founders Tim Whitworth and Carl Brewins will continue to run the business and remain significant investors in the 105-strong chain, Change Capital said […]
Francisco Partners has amended the terms of its deal to acquire EF Johnson Technologies Inc. (Nasdaq: EFJI), an Irving, Texas-based provider of secure communications solutions to organizations that protect and save lives. The revised terms would pay out $1.50 per EF Johnson share, compared to an original purchase price of $1.05 per share. The total equity now would be valued at nearly $40 million.
Castle Harlan has completed its acquisition of IDQ Holdings Inc., an automotive aftermarket company focused on do-it-yourself automotive air conditioner repair, from Arsenal Capital Partners. The deal was valued at approximately $170 million, representing around a 30% IRR and 8x multiple for Arsenal.
ReSearch Pharmaceutical Services Inc., a Fort Washington, Penn.-based provider of clinical development services to the biopharmaceutical industry, has filed for a $100 million IPO. It plans to trade on the Nasdaq, with Jefferies & Co. serving as lead underwriter. The company reports around $224 million in 2009 revenue, up from $175 million in 2008. Its […]
Nordic Capital has acquired a 70% stake in SiC Processing AG, a German industrial recycling company, from Frog Capital and other investors. No sale price was disclosed. SiC Processing's founding family retains a 25% holding, while former lead investor Zouk Ventures retains a 5% stake.
Alpstar Capital has teamed with an undisclosed "industrial partner" to acquire Dutch cement company Cementum. No financial terms were disclosed, except that Rabobank provided debt financing.
(Reuters) – Landry’s Restaurants Inc (LNY.N) Chief Executive Tilman Fertitta’s $1.4 billion bid for the seafood restaurant operator received the support of a crucial shareholder on Sunday, the Wall Street Journal said, citing a person familiar with the matter. U.S. hedge fund Pershing Square Capital Management, which has control of just under 25 percent of […]
(Reuters) – India’s Anil Dhirubhai Ambani Group plans to sell a stake in Reliance Communications’ (RLCM.BO) telecoms tower unit to GTL Infrastructure (GTLI.BO) and a private equity investor, the Mint reported on Monday. The sale in Reliance Infratel will be through a combination of cash and stock, the paper said citing bankers, and would take […]