Hugo Boss said on Friday private equity firm Permira has now committed itself to holding on to its remaining shares in the German fashion house for nine months, compared with six months previously, Reuters reported. The news comes after Hugo Boss said earlier on Friday that Permira was selling a further 10 percent stake in Hugo Boss, reducing its holding to about 56 percent and cashing in on an investment whose share price has doubled since it first invested in 2007.
Electra Partners said Friday that it has received a $1.3 billion binding offer for Allflex Holdings. BC Partners is the buyer, Electra says. Allflex makes and distributes plastic and electronic animal identification tags. The sale will generated gross proceeds of $630.5 million for Electra Partners' clients, including Electra Private Equity which will receive $398 million on the close of the deal. This represents a gross return of 15x original cost and an IRR of 28%. Rothschild advised Electra Partners and Allflex.
Mainsail Partners has made a $6.5 million equity investment in Netchemia. Prairie Village, Kan.-based Netchemia provides cloud-based talent management software specifically developed for K-12 school districts and institutions.
Apparel maker Kellwood Co., which is owned by Sun Capital Partners, is looking to exit Zobha after owning the brand for less than two years, two sources told peHUB.
CIT Group Inc. said it provided $96 million senior secured credit facility to Harvest Partners to support its refinancing of TruckPro. Memphis, Tenn.-based TruckPro distributes aftermarket parts and accessories for heavy duty vehicles.
Checkpoint Systems said Thursday that it completed the sale of its U.S. and Canadian CheckView business to Platinum Equity. Financial terms were not announced. Checkpoint announced the sale in march.
Vancouver's Anfield Nickel Corp., a publicly-traded company focused on the exploration and development of nickel laterite resources, and which owns Guatemala-based Mayaniquel SA and related assets and properties, has obtained a loan totaling $3 million from Canadian private equity firm Lumina Capital LP. The loan will be used for working capital and general corporate purposes.
Stingray Digital Group, a Montréal-based innovative content provider and broadcaster focused on delivering high-quality music content, has acquired the Canadian commercial accounts of Vancouver's eMedia Networks International Corp. for over $2 million. According to a report by The Globe and Mail, the deal adds 5,000 retail locations to Stingray’s arsenal of in-store music clients, pushing its total to 61,000 in Canada. Stingray is a portfolio company of Canadian technology buyout fund Novacap Technologies and technology investor Telesystem.
New York-based private equity firm Lightyear Capital has emerged as the lead bidder to buy SunTrust Banks Inc's RidgeWorth Investments asset management unit, three sources familiar with the situation told Reuters this week, Reuters is reporting.
Babson Capital Management said Thursday that it provided subordinated debt and made an equity co-investment to support Swander Pace Capital's buy of Caleel + Hayden Holdings Inc., which does business as glōProfessional. Babson said it was the sole provider of mezzanine capital for the deal. Denver-based glōProfessional develops and makes mineral-based cosmetics under the glominerals brand and premium skin care products under the glotherapeutics brand.