Hugh Hefner has released text of a letter sent to the Playboy board of directors, regarding his bid to take the company private. Get it after the jump...
FRANKFURT (Reuters) – German advertising group Stroeer said it plans to offer shares at 20 euros apiece, around the middle of its price range, in its July 15 stock market debut. The total amount of shares on offer would be 394 million euros ($496 million), including a greenshoe option and shares from co-owner Cerberus, Stroeer […]
NEW YORK (Reuters) – Swimming-pool supplies company Leslie’s Poolmart Inc is being marketed for sale and a number of private equity firms are considering buying it, two sources familiar with the situation said on Tuesday. Los Angeles-based private equity firm Leonard Green & Partners is a majority owner of Leslie’s, according to a Moody’s Investors […]
The auction of Modern Luxury Media is nearing its conclusion, and it looks like the magazine will have the last laugh. Bids had been expected to come in at around $10 million, but peHUB has learned that the publisher received multiple offers closer to $30 million. Two bidders remain, with a final decision expected later this month. We're not yet sure who made the final auction round, or if Modern Luxury founder and ex-CEO Michael Kong remains in the mix. Private equity suitors have included Platinum Equity and Castanea Partners, while Berkery Noyes is managing the process. Modern Luxury was riding high in 2007 when its then-owner, Shamrock Capital, sold its 60% stake to Clarity Partners. At the time, Modern Luxury, had $16 million of EBITDA, but it has since declined significantly. Currently, it has nearly 30 publications in 13 major markets including Angeleno, Manhattan and Interiors.
Thompson Street Capital Partners and Charterhouse Group have acquired Colo4 LLC, a Dallas-based provider of carrier-neutral colocation data center services. No financial terms were disclosed.
Don’t expect any new players in the Playboy auction. Yesterday, the company said that it had received a $123 million buyout bid from founder and mascot Hugh Hefner. The $5.50 per share offer would have Heffner buy up all the stock he doesn't own -- he's already got 70% of Playboy’s Class A voting stock and nearly 28% of class B shares -- and is backed Rizvi Traverse Management, a buyout shop that has invested in film studio Summit Entertainment (think Twilight saga). Marc Bell, CEO of FriendFinder Networks (which owns Penthouse), told peHUB Tuesday that he will likely make a bid for Playboy and that his offer will come "soon." When asked if his offer will larger than Hefner's, Bell said "most likely." Outside of their long-standing rivalry, it's not clear what value Playboy will provide for Penthouse. "The [competition] alone makes it interesting," Bell says.
(Reuters) – Lion Capital and Permira are neck and neck in the race to buy Unilever’s (ULVR.L) Italian frozen food unit Findus, people familiar with the matter said, with a winner likely to be announced in the next few weeks. The two private equity firms are expected to place binding bids for Unilever’s last remaining […]
Primary Capital has agreed to acquire stationary retailer Paperchase Products Ltd. from Borders Group (NYSE: BGP). The deal is valued at $31 million.
Acclaris, a Tampa, Fla.-based provider of healthcare financial technology, has been acquired by a private equity consortium. No financial terms were disclosed.Investors include Staley Capital, Trident Capital, HarbourVest Partners and existing shareholder Updata Venture Partners.
Marlin Equity Partners has acquired Conduit Internet Technologies Inc., a State College, Penn.-based provider of product content management software solutions for OEM and dealer-based service organizations. No financial terms were disclosed. www.conduit-it.com