British financial services firm Resolution Group and private equity firms TPG Capital and J.C. Flowers are bidding for Allstate Corp's Lincoln Benefit Life subsidiary, sources told Reuters.
(Reuters) - Yankee Candle Co. Inc. has withdrawn a plan to borrow money in order to pay a dividend to its PE owner, Madison Dearborn, in a sign that a wave of such lucrative deals may be coming to an end.
The Harlem Globetrotters - the highflying exhibition basketball team that has toured the world for decades - are on the block. Shamrock Capital Advisors, which owns 80% of the Globetrotters, is selling them, Reuters reports.
Northstar Travel Media, a portfolio company of Wicks Group, has acquired Your Travel Insider. Financial terms weren't announced. Founded in 2003, Your Travel Insider publishes e-newsletters Your Travel Insider, Luxury Cruise News and Your Travel Insider - Travel Tools.
Fifth Street Finance Corp. said on Thursday that it has closed its $114 million acquisition of Healthcare Finance Group, LLC. Also, Dan Chapa, who previously served as HFG's president replaces HFG's former CEO and founding member, Isaac Soleimani. For the transaction, Keefe, Bruyette & Woods and UBS Investment Bank acted as financial advisors to HFG while Greenhill & Co. acted as financial advisor to Fifth Street. HFG is a specialty lender providing asset-based lending and term loan products to the healthcare industry.
Private equity firm BC Partners is on the verge of clinching the purchase of German publisher Springer Science for somewhere in excess of 3 billion euros, sources told Reuters.
William Nygren, a top manager at Oakmark Funds, said he remains bullish on Apple Inc and Bank of America Corp, but is still avoiding Dell Inc in light of the company's plans to take the computer maker private, writes Reuters. Nygren, a noted value investor who runs the $9.6 billion Oakmark Fund, said Apple is undervalued while Bank of America has one of the top management teams in the banking industry.
Salvepar has committed to invest US$7 million in Latin America Power Holding, a developer and operator of renewable energy projects in Chile and Peru, with a staff of approximately 65 employees. This investment by the company comes as part of a capital increase in LAP led by LAP existing shareholders.
Harbert Private Equity Fund II has sold PWI Holding to KAR Auction Services Inc. KAR is the holding company for ADESA, Insurance Auto Auctions and Automotive Finance Corporation. ADESA is a provider of wholesale used vehicle auctions with 67 North American locations and its subsidiary OPENLANE provides an Internet automotive auction platform.
Peterson Partners has acquired Angoss Software Corporation for $8.4 million. Angoss delivers predictive analytics to businesses looking to improve performance across sales, marketing and risk.