Investcorp has completed its sale of IPH Group to Paris-based buyout shop PAI Partners. IPH Group is a distributor of industrial supplies in Europe. Investcorp acquired the company in June 2006. Investcorp said the deal generated some “210 million euros of realization proceeds.”
Berkshire Hathaway Inc. is on the hunt for more deals like its planned purchase of H.J. Heinz Co, Warren Buffett, the conglomerate's chief executive, said on Monday, Reuters reported. Berkshire likes the ketchup maker's business, the price of the $23 billion deal, and its partner in the transaction, private equity firm 3G Capital, Buffett said in an extended interview.
Global alternative asset manager The Carlyle Group and ClearRock Properties, a northeast regional owner and operator, have acquired 920 Broadway, a 106,000-square-foot, 17-story Flatiron District office tower on the corner of 21st street and Broadway. Financial terms of the acquisition, from Einstein College at Yeshiva University, were not disclosed.
BB&T Capital Partners has sold The Cline Company to Rexnord Corporation. The Cline Company, headquartered in Greenville, SC is a provider of aftermarket power transmission services to the pulp and paper, steel and other industries.
Private equity firm CVC is in talks on a bid for Britain's largest retirement home builder McCarthy & Stone, writes Reuters. The firm is expected to team up with Alan Bowkett, who resigned as McCarthy & Stone chairman last week, to try to buy the company, which is owned by a number of banks and hedge funds.
Best Buy Co has turned down a $1 billion minority investment proposal by founder Richard Schulze's three private equity partners, writes Reuters. Under the proposal, Leonard Green Partners, Cerberus Capital Management and TPG Capital would have each received a seat on the board of the world's largest electronics retailer, writes Reuters.
KRG Capital Partners' portfolio company Fort Dearborn Company has completed the acquisition of FetterGroup’s paint & coating labels business. KRG made its initial investment in Fort Dearborn Company in August 2010 and the acquisition of FetterGroup’s paint & coatings label business represents the 179th investment for KRG since its inception. Fort Dearborn Company is a supplier of cut and stack, pressure sensitive, roll-fed and shrink sleeve labels.
TDBBS, a Richmond, VA-based manufacturer and marketer of all natural dog treats and chews, has completed a minority investment by Culbro, a family-controlled private equity firm based in New York City. Terms were not disclosed.
Fixtures Living has announced a strategic partnership with Catterton Partners. The partnership will support the expansion of the company throughout the United States. Fixtures Living is a retail concept specializing in providing customers a tailored assortment of premium lifestyle products for the home. Terms of the transaction were not disclosed.
Praxair has acquired NuCO2 for $1.1 billion from Aurora Capital Group. NuCO2 is a provider of fountain beverage carbonation in the US with approximately 162,000 customer locations and 900 employees.