Allied Capital has sold its equity interest in Norwesco Inc., a maker of polyethylene storage tanks for the agricultural and industrial markets, to Olympus Partners. Allied sponsored a management buyout of Norwesco in 2005, and reports that it realized an $86 million gain on its equity investment and the repayment of $65 million in outstanding subordinated debt it had lent the company.
The third quarter ended yesterday, and the numbers were not pretty when it came to private equity deal-making or fund-raising. Both sets of numbers were down from Q2, both domestically and globally. A few quick figures after the jump, courtesy of Thomson Reuters (publisher of peHUB).
MADRID (Reuters) – Spanish infrastructure company Abertis (ABE.MC) has withdrawn its bid to operate the Pennsylvania Turnpike, as head of a consortium for the largest U.S. toll-road deal, sources close to the group’s board said Tuesday. The consortium, which also includes Citigroup (C.N), was named preferred bidder in May after offering $12.8 billion to lease […]
The Riverside Company has acquired Eemax Inc., an Oxford, Conn.–based maker of tankless electric water heaters. No financial terms were disclosed.
BANGALORE (Reuters) – Allied Capital Corp (ALD.N) said portfolio company Ciena Capital LLC filed for bankruptcy protection as the credit crisis led to a significant decline in the value of its assets, sending Allied Capital’s shares tumbling 49 percent to an all-time low. Allied Capital’s earnings may be hit by about 5 cents a share […]
CHICAGO (Reuters) – Chicago will lease its Midway Airport to private operators for $2.52 billion in a deal that would mark the first privatization of a major U.S. airport, Mayor Richard Daley said on Tuesday. “We believe this a very good return given the current stress in the credit markets,” Daley told a news conference. […]
Water Street Healthcare Partners has acquired HealthPlan Holdings Inc., a Tampa, Fla.-based provider of outsourcing services to insurers in the individual, small business, union trust and voluntary benefits markets. No financial terms were disclosed.
CVC Capital Partners has agreed to acquire a 47.5% stake in Pilot Travel Centers, which would form an equal governance partnership with Pilot Corp. The CVC stake is being purchased from Marathon Oil Corp. for an undisclosed amount. PTC operates the largest travel center network in the United States with 305 locations in 40 states.
Hudson Clean Energy Partners has acquired Helium Energy, a Madrid-based renewable energy development company. No financial terms were disclosed. Helium will be integrated into Hudson’s Element Power platform, which will focus on utility-scale wind and solar development throughout the globe.
H.I.G. Capital has helped form Epic Production Technologies, by sponsoring the merger of Q1 Production Technologies (Canada) and Ed & Ted’s Excellent Lighting (Los Angeles). No financial terms were disclosed for the deal, which creates a single provider of lighting systems for concert tours, theatrical productions and corporate and special events.
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