Legg Mason Inc has been approached in recent months by some of its senior managers and private equity firms with plans to take the struggling asset manager private, but the board has decided...
Fremont Private Holdings and Pulse Equity Partners have backed In-Shape Health Clubs, investing an undisclosed amount for expansion efforts. Terms were not disclosed.
US grocer Supervalu Inc. will sell five of its retail grocery chains to group led by Cerberus Capital Management. The company is selling its Albertsons, Acme, Jewel-Osco, Shaw's and Star Market chains and related Osco and Sav-on in-store pharmacies. The transaction will be valued at $3.3 billion. The investor group also includes real estate firms Kimco Realty Corp., Klaff Realty LP, Lubert-Adler Partners and Scottenstein Real Estate Group.
Praesidian Capital has exited its $15.5 million investment in Lone Star Overnight, an express and ground parcel delivery company operating primarily in Texas, Oklahoma and Louisiana. Praesidian invested in the company in May 2011.
Rangeland Energy has secured a $200 million equity financing commitment from EnCap Flatrock Midstream of San Antonio. The company is focused on the gathering, storing and transportation of crude oil, natural gas and other similar products. EnCap is a return investor in the company. In November 2009, EnCap Flatrock made a $115 million commitment to Rangeland from its first fund, the firm said.
Boston-based buyout shop Candescent Partners has acquired Dermatology Associates of Tyler. Candescent led the transaction with co-investors Eagle Private Capital and Harbert Mezzanine Partners, the firm announced. Dermatology Associates provides medical and cosmetic dermatological services in the Eastern Texas region.
Monroe Capital provided a $35 million credit facility, as well as a equity co-investment, to support the recap of an unnamed healthcare services company backed by Centre Partners, the firm announced.
H.I.G. Growth Partners has exited its investment in Triad Retail Media, selling the stake to Rockbridge Growth Equity and Falcon Investment Advisors. Founded in 2004, Triad operates digital retail media programs for retail company websites.
Private equity group 3i has sold all of its remaining 16.7 percent stake in German engineering group Norma for about 109 million euros ($142.2 million). Britain's 3i on Thursday said it placed 5.3 million Norma shares with investors for 20.50 euros each and was no longer a shareholder in the German company. That was a discount of about 4.5 percent to Norma's closing share price on Wednesday and below its Frankfurt listing price of 21 euros per share in April 2011.
Private equity firm CVC is in exclusive talks to buy a majority stake in SPi Global Holdings, a business outsourcing unit of Philippine Long Distance Telephone Co, for about $320 million including debt, a source familiar with the matter told Reuters. PLDT, Manila's second-most valuable listed company, had put an 80 percent stake in SPi Global on the block last year as it looks to shed non-core businesses. The auction attracted interest from global buyout firms including Bain Capital and Carlyle Group as well as CVC.