Joe's Jeans has completed the $97.6 million acquisition of Fireman Capital Partners-backed Hudson Clothing Holdings, a designer and marketer of denim apparel. Financing consisted of a $50 million revolving credit facility from CIT Trade Finance as agent and a $60 million senior term loan from affiliates of Garrison Investment Group as agent.
The previously announced US$4.4 billion acquisition of Hub International Ltd, a global insurance brokerage, by U.S. private equity firm Hellman & Friedman has been completed. The private equity sellers are Apax Partners and Morgan Stanley Principal Investments, which bought the company for US$1.8 billion in 2007. The Chicago-based Hub was founded in 1998 through a merger of 11 Canadian insurance brokerages and continues to have significant operations and employees in Canada. Canadian counsel on the deal was provided by Torys LLP.
(Reuters) - Dozens of strategic and private equity players including Bloomberg News and Warburg Pincus are circling Pearson's financial news provider Mergermarket ahead of an Oct. 7 deadline for first-round bids, several industry sources close to the deal told Reuters.
KPS Capital Partners said Thursday that it has agreed to acquire Furniture Brands International for $280 million. KPS has also agreed to provide Furniture Brands, which filed for Chapter 11 on September 9, 2013, $190 million in DIP financing to support its operations.
Catterton Partners said Thursday that it has closed its sale of Mid-Atlantic Convenience Stores to Sunoco. No financial terms were disclosed. Based in Maryland and Virginia, Mid-Atlantic Convenience Stores is a convenience store operator with 300 company-owned and dealer locations.
According to Reuters, Forstmann Little & Co, which put talent agency IMG Worldwide on the block this summer, is currently courting first-round bids from from four private equity firms CVC Capital Partners, KKR, Silver Lake and TPG Capital.
Gladstone Investment Corp. has acquired Alloy Die Casting for $16.3 million. To support the buy, Gladstone Capital Corp. was a co-investor, providing $7 million in debt and equity financing. Headquartered in Buena Park, Calif., ADC is a maker of aluminum and zinc castings for aerospace, defense, aftermarket automotive and industrial applications.
Dr Gerard, a producer of branded and private label biscuits in Poland, has been acquired by Bridgepoint from Groupe Poult of France, for an undisclosed amount. The company operates from three sites across Poland where it employs over 950 people and in recent years has developed a growing export business to the wider CEE region.
Venator Real Estate Capital Partners, investment advisor to the general partner of Trophy Property Development L.P. has announced that the fund has entered into an asset swap agreement with Shui On Land. Under the agreement, the fund will become majority owner of a large residential project in Shanghai in exchange for its minority investments in four developments in other key regions in China. The transaction is expected to close in the fourth quarter of 2014 subject to closing conditions.
Catterton Partners has invested in Protein Bar, a high-growth, fast casual restaurant chain. Terms of the deal were not disclosed. Protein Bar will use the proceeds to expand its concept of providing customers "craveable food" that is good for them.