View Systems, a Baltimore, Md.-based maker of security products, including weapons detection systems, has appointed Reid Miles to its board of directors. Miles is CEO of Miles Howland & Co., a New York-based investment advisory firm.
TPG is buying Assisted Living Concepts Inc., a Wisconsin-based operator of housing for senior citizens. Assisted Living's Class A shareholders will get $12 per share while Class B shareholders will get $12.90 per share, according to the agreement. The transaction values Assisted Living at about $278 million according to the number of Class A and Class B shares the company had on Oct. 31.
Private equity firm Carlyle Group LP is preparing to sell aerospace and defense company Arinc Inc. and hired JPMorgan Chase and Evercore Partners Inc. to advise on the process, three people familiar with the matter told Reuters. Arinc, which the buyout firm bought from six U.S. airlines in 2007 for an undisclosed sum, is expected to draw interest mostly from larger aerospace industry rivals and may fetch $1.2 billion to $1.5 billion in a sale, Reuters wrote.
Belgian natural gas infrastructure company Fluxys has teamed up with private equity firm Global Infrastructure Partners to bid for Czech gas transmission system Net4Gas, Belgian business daily De Tijd said. Net4Gas is one of the assets Germany's No. 2 utility RWE is selling as it cuts debt under pressure from ratings agencies.
Private equity firm Carlyle Group is preparing to sell aerospace and defense company Arinc and has hired JPMorgan Chase and Evercore Partners to advise on the process, writes Reuters. Arinc, which the buyout firm bought from six U.S. airlines in 2007 for an undisclosed sum, is expected to draw interest mostly from larger aerospace industry rivals and may fetch $1.2 billion to $1.5 billion in a sale, writes Reuters.
NBGI Private Equity has acquired Stiplastics for an undisclosed sum. Stiplastics is a manufacturer of injection-molded plastic dosing, packaging solutions, and medical devices for the pharmaceutical industry including pillboxes, medication blister packs, and “tamper proof” systems. The Company operates production facilities in Beauvoir en Royans, France.
Cansel Inc., a provider of software, hardware and services to the engineering, surveying, and construction industries, has acquired CAD Worx Warehouse Inc. of Edmonton, Alberta, which focuses on sales and services provision of HP and KIP printing equipment. Terms were not publicized. The Vancouver-based Cansel has been a portfolio company of Canadian private equity firm Roynat Equity Partners.
Abacus Finance Group was administrative agent and sole lead arranger for $16.5 million in debt financing used to support the spinout of Kova International from Hycor Biomedical. One Rock Capital Partners, Laurel Crown Partners, and StoneCreek Capital led the spinout. Garden Grove, Calif.-based Kova is a developer, manufacturer, and marketer of in-vitro diagnostic products for […]
Onex Corp. said it has completed the sale of its 50% interest in RSI Home Products, selling the stake to the company for $323 million in proceeds. The Onex Group made a $318 million preferred equity investment in RSI in October 2008.
Investment firm Royalty Pharma has made a $6.6 billion bid approach to Elan, seeking to scupper the Irish drugmaker's plan to spend most of the proceeds from a major drug sale on deals and instead give the money to shareholders, Reuters reported. Royalty Pharma, which invests in royalty streams from pharmaceuticals, said on Monday it planned to offer $11 per share, a premium of 12.6 percent based on the $10.35 closing price of Elan's shares on Feb 15 on the New York Stock Exchange, where the company has its primary listing.