FRANKFURT (Reuters) – Goldman Sachs (GS.N) is considering a takeover of the remains of insolvent German department store chain Karstadt if no other investor emerges, two sources familiar with the situation told Reuters. Goldman Sachs as well as Deutsche Bank (DBKGn.DE) are part of the Highstreet consortium, which owns about two-thirds of Karstadt’s store space. “Is […]
Global Geophysical Services Inc., a Missouri City, Texas-based provider of technology that collects seismic data for oil and gas industry, has set the terms of its proposed IPO to 11.5 million shares being offered at between $15 and $17 per share. It would have an initial market cap of approximately $610 million, were it to […]
TPG Capital has agreed to buy American Tire Distributors Holdings Inc. for $1.3 billion, from Investcorp, Berkshire Partners and Greenbriar Equity Group. The deal is expected to close next quarter. American Tire is a Charlotte-based distributor of replacement tires to local, regional and national tire retailers.
NEW YORK (Reuters) – Private equity firm Blackstone (BX.N) is joining one of the teams bidding to buy Extended Stay, a source familiar with the situation said on Wednesday, upping the ante in the battle to control the mid-priced U.S. hotel chain. Blackstone is joining the team led by investment companies Centerbridge Partners and Paulson […]
NEW YORK (Reuters) – U.S. jeweler Zale Corp (ZLC.N) plans to sell a minority stake to Golden Gate Capital Corp, Bloomberg News reported on its website citing two people familiar with the decision. Golden Gate’s offer was chosen over proposals from Centerbridge Capital Partners LLC and TPG, the people — who declined to be identified […]
NuCO2 Inc., a Stuart, Fla.-based provider of beverage-grade carbon dioxide, has filed for a $200 million IPO. It plans to trade on the NYSE under ticker symbol NUCO, with UBS Investment Bank serving as lead underwriter. Aurora Capital Group took NuCO2 private in May 2008 for $487 million, and is majority shareholder. Northwestern Mutual Capital Mezzanine […]
Sponsor-to-sponsor deals aren't always popular, but they're certainly in vogue right now. The first quarter of this year saw a surge in sponsor-to-sponsor, or secondary buyouts, in which one private equity firm sells a portfolio company to another private equity firm (or group of firms). Data provider Preqin reports 24 such transactions last quarter worth $7 billion in deal value, compared to just $5.1 billion for 43 deals in all of 2009. And this doesn't even include a rash of transactions announced today (see below). What's driving the activity? First, private equity pros are desperate to do deals. Despite everyone's peacocking that '08 and '09 were "the best investing opportunities of our lives," most buyout pros were all talk. The deal volume speaks for itself-PE pros were largely on the sidelines during
LONDON (Reuters) – Five bids, including four from private equity firms, have been selected to move through to the second round of the auction for Royal Bank of Scotland’s (RBS.L) payment processing business, people familiar with the matter said on Tuesday. Canada’s biggest card payment processor, Moneris Solutions, buyout firms CVC [CVC.UL], joint suitors Advent […]
AMSTERDAM (Reuters) - CVC Capital Partners and a consortium of Morgan Stanley (MS.N) Infrastructure, 3i Infrastructure (3IN.L) and Star Capital have made indicative offers in the 2 billion pound ($3.1 billion) auction of HSBC's (HSBA.L) rolling stock firm, several people familiar with the matter said. HSBC's (0005.HK) rail unit Evershot has a UK fleet of over 4,000 trains and its sale follows the rationale of the divestments of the other two UK train leasing companies, as banks look to raise cash by disposing assets not central to their businesses.
Douglas Dynamics Inc., a Milwaukee-based maker of snow plows and salt spreaders for light trucks, has set its IPO terms to 10 million common shares being offered at between $14 and $16 per share. It would have an initial market cap of approximately $316 million, were it to price at the high end of its […]