Advantage Partners, a Japanese private equity firm, said on Tuesday it hopes to find a buyer for the convenience store chain am/pm Japan by September and wants to list soft drinks maker Pokka Corporation next year. Plans for am/pm to be acquired by Lawson Inc (2651.T: Quote, Profile, Research, Stock Buzz), Japan’s second-largest convenience store […]
Insphere Insurance Solutions has been launched by The Blackstone Group, Goldman Sachs and Credit Suise. It will offer life, health, long-term care and retirement products for small businesses and the middle-income market, and be run by former New York Life vice chairman Phillip Hildebrand. No financial terms were disclosed.
Roark Capital Group has agreed to acquire Pet Valu Inc. (TSX: PVC), a North American pet supplies retailer. The deal is valued at approximately C$143.7 million, or C$13.68 per Pet Valu share (4.8% premium to Friday's closing trade).
BLI Messaging, a Providence, R.I.-based provider of email, voice, fax and text messaging marketing solutions, has raised an undisclosed amount of private funding from Catalyst Investors.
Pegasus Capital Advisors has acquired a 51% equity stake in Hain Pure Protein, with Hain Celestial Group Inc. (Nasdaq: HAIN) to retain the other 49 percent. Hain Pure Protein produces natural, organic and antibiotic-free chicken and turkey products.
Telegraph Hill Partners has acquired a majority stake in Nexus Biosystems Inc., a Poway, Calif.-based provider of automated sample management systems. No financial terms were disclosed.
Snow Phipps Group has acquired ITS Holding Co. from The Edgewater Funds. No financial terms were disclosed. ITS is a Silver Springs, Md.-based provider of IT services to the U.S. government civilian, national security, and intelligence agencies. ITS co-founder and CEO Stefan Lalos joined Snow Phipps on the deal, and will continue to lead the company.
SEOUL/HONG KONG (Reuters) – Kohlberg Kravis Roberts & Co. has reached a deal to unload half of the equity in South Korea’s No.2 beer maker, which it agreed to buy for $1.8 billion, to Affinity Equity Partners, two sources with direct knowledge of the process said on Tuesday. KKR is planning to complete its acquisition […]
FDIC chair Shiela Bair today held a five-hour, closed session with select members of the private equity industry, to discuss proposed rules that would govern future PE investment in banks. To say that many of these rules are unpopular with private equity pros would be an understatement, particularly capital requirement and cross-guarantee provisions. As Wilbur Ross accurately told the WSJ last week, the guidelines are "harsh and discriminatory." So it was with some surprise that Ross was even one of the 26 invitees to today's roundtable, let alone asked to lead the section on capital requirements. He left with his strong objections intact, but also believing that the meeting was "highly productive." "Sheila Bair seems truly interested in getting people's views," Ross told me during a phone conversation earlier tonight. "It was pretty obvious what my reaction had been, but she still had me chair part of the conversation and seated me next to her at lunch. I think it shows that the proposals really are still proposals at this point, and that she and others at the FDIC are serious about wanting input from people in the private equity industry."
The FDIC today held a roundtable discussion with various PE industry players, regarding last week's proposed guidelines related to private equity investment in banks. The session was closed, but a little birdie tells me that most of the PE representation was attorneys rather than dealmakers [Update: FDIC has sent over a list of invitees -- printed after the jump -- and plenty of PE principals were among them]. My guess is that the attorneys delivered a fairly simple message: These proposals are nutty, baselessly punative and totally counterproductive if the goal is to encourage PE investment in banks. I get a bit more in depth during a Reuters Insider spot I did earlier today (on tape from the laundry room adjacent to the home office):