European financial services private equity firm AnaCap Financial Partners has backed the management buyout of Simply Business. Established in 2005 by parent company Xbridge, Simply Business uses technology to simplify the process of buying small business insurance.
HSBC Leveraged Finance has completed a refinancing of UK-based Trustmarque Solutions. This marks a new banking relationship for Trustmarque following the recent management buyout supported by UK mid-market private equity firm Dunedin.
U.K.-based water company Severn Trent Plc incurred legal and other costs of approximately £19 million (US$29 million) in responding to repeated acquisition offers from LongRiver Partners, an investor group led by Borealis Infrastructure Management, the investment arm of Ontario Municipal Employees Retirement System, and including Kuwait Investment Office and Universities Superannuation Scheme. The group's third proposal before the June 2013 deadline was estimated to value US$8.2 billion.
McGraw-Hill Education, which is backed by Apollo Global Management, said Wednesday it bought Tata McGraw-Hill Education Private Limited, the company's long-existing joint venture with Tata Group. As part of the agreement, McGraw-Hill Education purchased the minority ownership stake in the company held by two Tata charitable trusts. Financial terms weren't announced.
Billionaire activist Carl Icahn renewed his call for Dell Inc stockholders to vote against a buyout offe
Men's dress shoe company Allen Edmonds is exploring a sale of the company, sources told Reuters.
Goldman Sachs Group Inc said it would sell a majority stake in its electronic trading software business, REDI, to a consortium of investors.
U.S. private equity giant Blackstone Group LP has agreed to buy a majority stake in Indian auto parts maker Agile Electric Works, which controls Igarashi Motors, for about $100 million, two sources with direct knowledge of the matter told Reuters.
The Goldman Sachs Group said Wednesday that it has sold its majority stake in REDI to a consortium of investors that BofA Merrill Lynch, Barclays, BNP Paribas, Citadel and Lightyear Capital. No financial terms were disclosed, however, Goldman Sachs will retain a "significant" minority equity stake in the company. REDI is a global technology platform.
Dell Inc founder Michael Dell and his private equity partner Silver Lake would not raise their $24.4 billion bid for the world's No. 3 PC maker even if a vote on their offer is delayed, sources told Reuters.