Fabrinet Inc., a Thailand-based provider of foundry services to optical component, module/subsystem and optics OEMs, has filed for a $150 million IPO. It plans to trade on the NYSE under ticker symbol FN, with Morgan Stanley and Deutsche Bank Sercurities. Earlier this year, Fabrinet canceled a proposed $250 million IPO, due to “market conditions.” Shareholders […]
Clearview Capital has sponsored a recapitalization of IESCO, a provider of inspection and non-destructive testing services to the energy sector in California. No financial terms were disclosed.
(Reuters) – Playboy spent 56 years making sure that the world would know it by the sign of its bunny ears. Now that the company is up for sale, Playboy’s iconic logo, not the magazine, might be what saves it. Playboy Enterprises Inc (PLA.N) is in talks with at least one possible bidder for the […]
(Reuters) – Carlyle, CVC and funds linked to Morgan Stanley and Macquarie are readying binding bids for Gas Natural’s Madrid gas-distribution assets ahead of a Nov. 30 deadline, people familiar with the matter said on Friday. The deal, valued by sources at more than 500 million euros ($743 million), is part of a string of […]
Tom Danis of RCP Advisers suggested yesterday that one reason Charlesbank Capital Partners had an oversubscribed fundraise was that the new vehicle’s terms gave 100% of transaction fees to limited partners (rather than a split). It wasn’t so much the expected dollars, Danis said, but more that Charlesbank was responding to what is broadly seen by LPs as a fairer alignment of interests. Handing 100% of transaction, portfolio monitoring and other fees is a key tenant of the ILPA guidelines proposed earlier this year. But here is my question: If most firms adopt the ILPA guidelines on fees, will that end the taking of fees? In other words, will GPs still have incentive to pilfer from portfolio companies if they can’t stuff any of it in their back pockets?
Advent International has completed its acquisition of a 79% stake in Bulgarian bottled water provider Devin AD, for approximately €31.6 million. PRESS RELEASE Advent International, the global private equity firm, today announced that it has acquired from the Soravia Group of Austria and certain individual shareholders approximately 79% of the shares of Devin AD (“Devin”), […]
LONDON (Reuters) – Hedge fund investors stuck in products with illiquid assets are increasingly seeing interest in their stakes from specialist private equity or other buyers as markets recover, according to broker Tullett Prebon. Head of alternative investments at the British firm, Neil Campbell, said the global market for hedge fund secondaries has grown to […]
SEOUL (Reuters) – A consortium including a Middle East-based fund and a South Korean investment firm has been picked as a preferred buyer for a controlling stake in Daewoo Engineering (047040.KS), a report said, in a deal expected to fetch about $2.6 billion. The auction for South Korea’s No. 4 builder by market value has […]
LONDON (Reuters) – Privately owned German chemical distributor Brenntag is amending its 2.5 billion euro ($3.7 billion) leveraged loan to allow an initial public offering, banking sources said on Friday. The loan amendment, which brings Brenntag’s flotation closer, offers existing lenders increased interest margins to agree changes which include using IPO proceeds to repay junior […]
LONDON (Reuters) – Five major private equity groups are among the first-round bidders for discount retailer Matalan, which is being auctioned with an estimated price tag of about 1.5 billion pounds ($2.50 billion). TPG, Blackstone (BX.N), Warburg Pincus and BC Partners have submitted indicative bids for the privately-owned Matalan, which has shown resilience in the […]