Bayside Capital Inc. announced Tuesday that is has completed the acquisition of the assets of Alexander Gallo Holdings, parent company to court reporting and litigation solutions companies Esquire Deposition Solutions and Sanction Solutions. Terms of the deal were not released. Esquire Deposition is based in Atlanta.
Commercial Metals Co has rejected billionaire investor Carl Icahn’s $1.73 billion bid to buy out the metals recycler, writes Reuters. The company said the offer substantially undervalued the business and was “opportunistic,” reports Reuters. (Reuters) – Commercial Metals Co rejected billionaire investor Carl Icahn’s $1.73 billion bid to buy out the metals recycler, saying the […]
Private equity firm TPG has been dropped from the auction for a majority stake in British grocer Iceland Foods because its bid was too low, reports Reuters. Other bidders, private equity firms Bain and BC Partners, as well as grocer Asda and Wm Morrison, are through to a second round of bidding, with offers expected […]
Element Materials Technology, which was formerly known as Stork Materials Technology, has acquired Detroit Testing Laboratory. Financial terms weren't announced. Warren, Mich.-based DTL is a product qualification testing provider. Element Materials is a portfolio company of 3i Group.
JWI Capital said Monday it has acquired a controlling stake in Weaver Express Blower Services. Financial terms weren't disclosed. Sugarcreek, Ohio-based Weaver installs and makes compost-based filter socks and other compost-based products for erosion and sediment control applications. Aldine Capital Partners provided mezzanine capital and an equity co-investment to support the deal, as well as additional capital for expansion of the business.
Jim Attwood, the Carlyle Group's global head of telecommunications and media, doesn't expect a $10 billion deal to surface any time soon. Attwood, who was speaking Monday at the UBS media and communications conference in New York, says the markets have been up and down. While there are challenges [in the credit markets], if the "right asset" is found, "you can still get it financed," he says. "You've got to work harder and turn over more stones," he added.
Marc Kramer was added to H.I.G. Capital's New York office. Kramer joined H.I.G. in September. Kramer was recently a partner at Fenway Partners.
The Carlyle Group and Hellman & Friedman have completed their $3.9 billion deal to buy Pharmaceutical Product Development. The deal was approved by PPD shareholders on Nov. 30. Morgan Stanley advised PPD while Lazard provided a fairness opinion. Credit Suisse provided financial advice to Carlyle and Hellman & Friedman.
RCP Advisors said Monday that it has closed its first co-investment fund at $110 million. Chicago-based RCP is a fund-of-funds manager that focuses on the lower middle market.
Germany's SAP will pay $3.4 billion in cash to buy Web-based software company SuccessFactors, in a deal that helps the company compete in the realm of cloud computing, Reuters reported. SAP is paying $40 per share for SuccessFactors, a premium of 52% over both its Friday closing price and the one-month volume-weighted average price, Reuters wrote. SuccessFactors went public four years ago, and makes makes human resources software.