AUA Private Equity Partners, a lower middle-market private equity firm investing in U.S. Hispanic-oriented and/or family-owned businesses has completed a recapitalization of Associated Foods Holdings. Terms of the transaction were not disclosed.
Private equity firm Electra's sale of Allflex is attracting a lot of interest and around a dozen buyout firms are set to bid for the livestock identification company, writes Reuters. Buyout house Electra hired Rothschild earlier this year to explore a sale or refinancing of Allflex, which could fetch around $1 billion.
Riverstone Global Energy and Power Fund V, L.P., an energy-focused private equity fund managed by Riverstone Holdings, will make a strategic investment alongside Ridgewood Energy Corporation, a private upstream oil and gas investment company, in a series of deepwater exploration projects located in the Gulf of Mexico. The Ridgewood management team will manage the investments on behalf of the venture. Combined with a similar commitment by an affiliate of Riverstone/Carlyle Global Energy and Power Fund IV, L.P. in 2010, this brings the total Riverstone sponsored fund commitment to the venture to over $550 million.
Danger looms for U.S. banks looking to take part in the burgeoning LBO and M&A market, says Fitch Ratings. A possible pickup in deals could cause U.S. banks to put too much risk on their balance sheets.
First Advantage, which is backed by Symphony Technology Group, has closed its buy of LexisNexis Risk Solutions' employment and resident screening business.LexisNexis Risk Solutions is a division of Reed Elsevier. The transaction was announced in January. BofA Merrill Lynch acted as financial advisor to First Advantage. BofA Merrill Lynch and Tennenbaum Capital Partners provided financing.
Lincoln, Nebraska-based Neebo, a large textbook supplier with over 250 college bookstores around the country, has paid $27 million on its senior secured loan term and obtained financing of up to $80 million, the company announced today.
Spain's Bankinter has joined forces with U.S. investment fund Apollo Global Management to bid for Italian insurer Generali's Swiss private bank BSI in a deal worth up to 2 billion euros ($2.6 billion), three people with knowledge of the matter said on Tuesday, Reuters reported. Brazilian bank Safra and Chinese rival ICBC are also bidding for BSI, two of the people said.
AXA Private Equity has arranged a 220 million euro ($287 million) unitranche facility for the acquisition of IPH by PAI Partners from Investcorp. The deal represents the largest unitranche financing in Europe to date. IPH is a distributor of industrial supplies in Europe.
Terawatt has secured a significant initial investment from Sorenson Capital Partners. The funding will enable Terawatt to hire key talent, build a robust back-office platform, and secure its position in the U.S. residential solar market.
Chicago Growth Partners has completed a dividend recapitalization of Advanced Pain Management. Pain management group APM has 30 board certified physicians performing the advanced interventional pain management procedures on patients suffering from chronic neck and back pain.