Carlyle Group LP's planned $780 million takeover of TCW Group Inc could prove less lucrative than envisioned due to the investment manager's financial ties to buyout firm EIG Global Energy Partners LLC, a TCW document to its lenders shows.
Pension fund manager Caisse de dépôt et placement du Québec announced it has made a private placement in Calgary, Alberta-based oil sands developer MEG Energy Corp. The investment, totaling C$400 million, is expected to close before the end of this year. MEG Energy was formerly backed by private equity investors KERN Partners and Warburg Pincus. The company completed a C$700 million IPO in 2010.
A private equity fund managed by Desjardins Capital de risque, in partnership with Vision Globale Inc., a Montréal provider of technical film and TV post-production services, acquired three high-profile movie-making enterprises -- Studios Mel’s La Cité du Cinéma, Locations Michel Trudel and Les Génératrices Star (1997). While the total transaction value was not disclosed, Desjardins' ownership interest was put at C$23 million. In September, Vision Globale also received an investment from Capital croissance PME, a fund managed by Desjardins and the Caisse de dépôt et placement du Québec.
It's that time of year again. There's only a few weeks left in 2012 and it's time to find out which PE firm was the most active, and biggest, dealmaker this year. And the winner is...
Best Buy Co Inc agreed to extend the deadline to February 28 for founder Richard Schulze to make a bid for the company, continuing the uncertainty for shareholders over whether he can put a bid together.
Canadian pension fund organization the Caisse de dépôt et placement du Québec has made an investment in Morgan Schaffer Corp., which provides insulating oil testing services to businesses in the electrical industry. LaSalle, Québec-based Morgan Schaffer obtained a combined C$5.7 million in private equity and a loan from the Caisse. The proceeds will be used to fund the company's global expansion plans.
DIRTT Environmental Solutions Ltd., a private Calgary, Alberta-based firm that manufactures and distributes interior construction solutions, has received C$20 million in financing from Kayne Anderson Mezzanine Partners, a mid-market private equity investor based in Los Angeles. DIRTT Environmental Solutions has since 2011 been backed by a number of Canadian and U.S. venture capital investors, including Apex Venture Partners, EDC Equity Fund, Expansion Capital Partners, NGEN Partners and North Sky Capital.
Private equity firms KKR & Co. and Permira positioned themselves for a hefty dividend from ProSiebenSat.1 and an exit from the German media group they control after it agreed to sell one of its best-performing units. ProSiebenSat.1, Europe's second-biggest media group after RTL, detailed plans on Friday to sell its Nordic operations to Discovery Communications for about $1.7 billion.
Richard Branson's Virgin Money and US private equity group JC Flowers have submitted bids for 316 UK bank branches being sold by RBS, sources familiar with the matter told Reuters Friday. But Britain's biggest customer-owned financial services group, Nationwide, which previously indicated an interest in the branches, did not proceed with a bid, its spokesman told Reuters.
Salt Creek Capital Management has completed its acquisition of Boyd Industries Inc., a manufacturer of examination and operatory equipment. Terms were not released. Boyd is based in Clearwater, Fla.