Saw Mill Capital Partners has acquired Gateway Packaging, a Granite City, Ill.-based provider of flexible packaging for the pet food and human food markets. No financial terms were disclosed.
(Reuters) – IT security company SonicWall Inc (SNWL.O) said in a filing it had been approached by a privately held company to be acquired for $12 a share, trumping an earlier offer from private equity firm Thoma Bravo. Earlier this month, the New York-based private equity firm had offered to acquire the company for $11.50 […]
DLJ Merchant Banking Partners is prepping portfolio company Total Safety U.S. for a sale, multiple sources tell peHUB. Before continuing, it is important to note that those sources do not include either DLJMB or Total Safety CEO David Fanta, who strenuously denied sale plans. "We're owned by private equity, so obviously there will a deal at some point," Fanta said. "But it's not happening right now." So we have a case of "they said, they said." Pretty typical, although on-the-record denials about such things are fairly unusual (we considered spiking the story, but then got independent confirmation from an additional source).
(Reuters) – Dubai International Capital (DIC) is in talks with lenders over an urgent cash injection for Alliance Medical to stop the business breaching its banking covenants, the Times reported in its Tuesday edition. DIC, an investment unit of conglomerate Dubai Holding, is holding negotiations with its lending syndicate to inject up to 150 million […]
PARIS (Reuters) – French certification company Bureau Veritas (BVI.PA) is to buy British commodities testing and inspection firm Inspectorate for 450 million pounds ($667 million) in a deal it said would boost earnings from this year. The purchase from British-based Inspicio, majority owned by private equity firm 3i Group (III.L), will put Bureau Veritas among […]
There's still a few more salvos to go in the $3.5 billion battle for RBS WorldPay, but a banking source tells peHUB that Advent International and Bain Capital could have the upper hand. The auction, run by UBS, has attracted interest from numerous players, including Permira, Welsh Carson Anderson & Stowe, American Express and Moneris Solutions. But most suitors have since moved on, leaving the final showdown between two PE firm pairings: Advent with Bain, and TPG Capital with Clayton Dubilier & Rice. RBS will ultimately choose based on price, but give Advent-Bain an edge if the offers are close. In 2009, Advent paid $561 million to acquire a 51% stake in the payment processing business of Fifth Third Bancorp. That unit processes over $292 billion in debt and credit card sales, and our source says: "RBS will take comfort in fact that Advent did this successfully with Fifth Third last year and they’re just trying to redo same structure."
LONDON (Reuters) – Creditors of Gala Coral took control of the British gambling business on Monday to end one of Europe’s longest-running restructurings and wrest control from the firm’s private equity backers. The new deal will see mezzanine debt holders, led by Apollo Management [APOLO.UL], convert their 558 million pounds ($828 million) holding to equity […]
(Reuters) – Boston Private Financial Holdings Inc (BPFH.O) said it entered into an investment agreement with an affiliate of private equity firm Carlyle Group [CYL.UL], through which the bank holding company would raise about $6.3 million. Under the terms of the agreement, an entity controlled by Carlyle has agreed to purchase about 1.1 million shares […]
(Reuters) – U.S. buyout firm TPG is to buy British fashion retailer Republic in a deal worth about 300 million pounds ($445 million) from rival private equity house Change Capital Partners. Republic’s founders Tim Whitworth and Carl Brewins will continue to run the business and remain significant investors in the 105-strong chain, Change Capital said […]
Francisco Partners has amended the terms of its deal to acquire EF Johnson Technologies Inc. (Nasdaq: EFJI), an Irving, Texas-based provider of secure communications solutions to organizations that protect and save lives. The revised terms would pay out $1.50 per EF Johnson share, compared to an original purchase price of $1.05 per share. The total equity now would be valued at nearly $40 million.

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