Affinia Group Inc., an Ann Arbor, Mich.-based provider of on-and-off highway replacement products and services, has acquired Chinese drum and rotor maker HMB Investment Ltd. Affinia is controlled by Cypress Group.
Textron has completed the sale of its Fluid & Power division for $1 billion to UK engineering group Clyde Bowers, which was sponsored on the deal by HarbourVest Partners and Pantheon Ventures. Leveraged financing has been committed by Bank of Scotland, Barclays, HSBC and RBS.
Ladder Capital Finance has been formed as a specialty finance company focused on the commercial real estate industry. It has raised approximately $1 billion in equity and debt, co-led by Towerbrook Capital Partners and Global Infrastructure Partners.
TriWest Capital Partners has acquired a majority stake in Canadian trucking company Gardewine Group of Cos., according to LBO Wire. No financial terms were disclosed. www.gardewine.com
VMG Partners has acquired an undisclosed stake in Robert's American Gourmet Foods, a maker of maker of natural gourmet snack lines marketed under the Pirate’s Booty, Smart Puffs and Tings brand names.
Stone Point Capital has acquired a 50% stake in Real Estate Disposition Corp., the nation's largest real estate auction company. No financial terms were disclosed.
JOHANNESBURG (Reuters) – South Africa’s black-owned Mineworkers Investment Company (MIC) has taken control of one of the country’s biggest media firms, Primedia, in a deal worth 246 million rand ($23.98 million), MIC said on Thursday. Primedia said in a statement MIC had raised its stake to 49 percent from 32 percent. Primedia was delisted in […]
LONDON (Reuters) – Bankers are working on proposals for a loan to finance the possible sale of Northern Irish electricity firm Viridian Group by sponsor Arcapita, banking sources said on Wednesday. Bahrain-based investment fund Arcapita hired Dresdner Kleinwort earlier this year to advise on a strategic review of the group, including the sale of Viridian […]
(Reuters) – Charlotte Russe Holding Inc’s (CHIC.O: Quote, Profile, Research, Stock Buzz) shareholder KarpReilly Capital Partners LP offered to buy the women’s-apparel retailer in a deal valued as much as $198.6 million, sending its shares up 25 percent. The private investment firm, which made its proposal along with H.I.G. Capital LLC, said the offer price […]
The only area less active than lending and deal-doing these days is exits, so I've decided to liveblog the panel focused on that topic. The Panel: Middle Market's Momentum and the Future of Exit Alternatives Panelists: Thomas R. Callahan, MD Lincolnshire Management, J. Hamilton Crawford of Houlihan Lokey, David Turner, Head of PE at Gaurdian, Jonathan Peskoff, MD at FBR, Jay Rothman, Partner, Foley & Lardner 10:55 Lincolnshire has sold 8 portfolio companies in the last 24 months. Callahan says seller pricing hasn't come down. I'd say over the course of this conference, only one person for every ten I talk to says seller pricing actually has come down. (UPDATE: See below for that one person) 10:56 The moderator tells us this panel is supposed to be the positive one. Let's see if that actually happens.
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