Private equity firm Forstmann Little & Company has decided to put its sports and modeling talent agency IMG up for sale and is in the process of picking an investment bank to lead the effort, Reuters reported. The decision to shop IMG, which represents top tennis player Novak Djokovic and supermodel Gisele Bundchen and owns the rights to numerous sports leagues, is being driven by the trustee that runs the estate of Teddy Forstmann - IMG's former chairman and chief executive who died in 2011.
Germany-based Bertelsmann is in advanced talks to buy out private equity firm KKR's majority stake in joint venture music rights management company BMG, the New York Post said, citing...
US private equity firm TPG Capital has raised $305 million by selling about half of its stake in Indian commercial vehicle financier Shriram Transport Finance Co Ltd, writes Reuters. TPG, which owned about 20 percent of Shriram Transport before the sale, sold the shares at 715 rupees each to a large number of overseas and domestic institutional investors, writes Reuters.
Generac Holdings has announced an underwritten secondary offering of 10,000,000 shares of its common stock by funds affiliated with CCMP Capital. The selling stockholders will receive all of the proceeds from this offering.
CIVC Partners, a middle market private equity firm focused on investments in the financial services and business services sectors, has sold GWC Warranty Corporation to Stone Point Capital. Headquartered in Wilkes-Barre, PA, GWC is a marketer, administrator, and underwriter of vehicle service contracts sold through automobile dealers.
American Capital, and its affiliated funds, have received $129 million in debt and equity proceeds, subject to post-closing adjustments, from the sale of portfolio company Paradigm Precision Holdings. Dynamic Precision Group, which is backed by the Carlyle Group, acquired Paradigm Precision on Jan. 31. American Capital said it received $127 million. American Capital invested in Paradigm Precision in 2007.
Australia’s Leighton Holdings Ltd. said on Wednesday it was in exclusive negotiations to sell 70% of its telecommunication assets, including its NextGen Networks fiber-optic business, to Canada’s Ontario Teachers’ Pension Plan, in a deal valuing the assets at A$885 million ($915.93 million). Teachers’ has been on an aggressive drive into Asia in search of higher […]
Satori Capital said Wednesday it has invested in Longhorn Health Solutions. Financial terms were not announced. Austin-based Longhorn is a direct-to-home provider of consumable medical supplies, durable medical equipment, and pharmaceutical prescriptions. Brookside Group provided debt financing while Allegiance Capital Corp. provided financial advice to Longhorn. PRESS RELEASE Satori Capital (“Satori”), a Dallas-based private equity […]
Tervita Corp. has closed refinancing deals totaling approximately C$850 million. One of the transactions involved a US$650 million offering of senior secured notes, and the other a C$200 million offering in senior secured notes (both due in 2018). The Calgary-based environmental and energy services company announced in January that it intended to refinance existing senior credit facilities due to mature in 2014. Tervita was taken private for C$3.5 billion in 2007 by CAI Private Equity, Goldman Sachs Capital Partners, Kelso & Co., Vestar Capital Partners, OSS Capital Management and other investors.
The infrastructure investment arm of Kohlberg Kravis Roberts & Co. has acquired three solar photo-voltaic energy projects (SSM Solar) based in Sault Ste. Marie, Ontario. SSM Solar, which has a total capacity of 69MWdc and 60MWac, was sold to KKR for an undisclosed price by Starwood Energy Group Global LLC, an affiliate of Starwood Capital, a private equity firm based in Greenwich, Connecticut. During its period of ownership, Starwood Energy oversaw the construction and operation of the Ontario solar facilities. The final phase of development was concluded in 2012.