Arsenal Capital Partners has agreed to acquire the Fine Chemicals business of Ferro Corp. (NYSE: FOE), for $66 million. The deal would result in a standalone company named Novolyte Technologies, which makes electrolytes used in the manufacture of lithium ion batteries and other products. It is expected to close later this year.
River Associates Investments has sponsored a recapitalization of Boxercraft Inc., an Atlanta-based maker of specialty apparel like licensed collegiate clothing. The deal included a $21 million one-stop financing from Patriot Capital Funding.
CCMP Capital Asia, a private equity firm previously known as JPMP Asia, is among several bidders losing interest in the auction for French group Danone’s Australian and New Zealand beverage business Frucor. The former Asia-focused fund of JP Morgan Chase’s buyout arm, JP Morgan Partners, which spun out in 2005, has quit the auction for […]
Japanese property firm Daito Trust Construction Co shelved a planned buyout that could have exceeded US$6bn, after the funds behind the deal failed to raise enough money amid the global credit crunch. Reuters had reported on Monday that Daito was unlikely to go private this year after Mizuho Corporate Bank had decided not to lend […]
Tandberg, a US$2bn Norwegian video conferencing business, has announced that discussions with a potential private equity bidder have been terminated. The talks regarding a potential stake purchase or even takeover bid ended as it has “become impossible to achieve acceptable pricing and financing conditions” in the current economic climate, Tandgerg said in a statement. In […]
Seaport Capital has led an acquisition of American Internet Services Inc., a San Diego-based provider of data center co-location services. Also participating were Viridian Investment Partners and DuPont Capital Management. No financial terms were disclosed.
High Road Capital Partners has acquired All Current Electrical Sales Inc., a wholesale reseller of electrical parts and components used in heavy duty industrial, infrastructure and energy applications. No pricing terms were disclosed. Debt financing was provided by US Bank, PNC Bank and Babson Capital Management.
NEW YORK (Reuters) – Sprint Nextel Corp (S.N), which has been considering a sale of its Nextel unit, has received interest from Latin American service provider NII Holdings Inc (NIHD.O) and private equity firms, according to a report on the Wall Street Journal website. But the story, which cited unnamed people familiar with the situation, […]
WASHINGTON (Reuters) – TPG-Axon Capital Management reported on Thursday it owns a 3.86 percent stake, or about 81 million shares, in the common stock of regional bank National City Corp (NCC.N). The hedge fund said in a regulatory filing that it had owned more than 5 percent of the troubled bank’s outstanding shares as of […]
SunGard Data Systems Inc. has completed its $585.3 million acquisition of a majority interest in trading software company GL Trade (Paris: GLT). SunGard was acquired for $11.4 billion in 2005 by Bain Capital, Blackstone Group, GS Capital Partners, KKR, Providence Equity Partners, Silver Lake Partners and TPG Capital.

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