Insight Equity II LP, a Dallas, Texas-area headquartered private equity firm, has acquired a controlling interest in Versatile Processing Group. VPG is a leading industrial processor of non-ferrous and other metals servicing the manufacturing, electric utility, and metal recycling industries, including providing the industry’s most comprehensive repair, refurbishment, and decommissioning services for electrical utility equipment.
MidCap Financial LLC , a commercial finance company focused exclusively on middle market healthcare companies, has announced that Zions Bank has joined in the senior financing to SCI Solutions. MidCap Financial continues to act as sole bookrunner, sole lead arranger, and administrative agent in the senior secured credit facilities in support of SCI, a portfolio company of The Wicks Group of Companies and New Enterprise Associates.
China Science and Merchants, an 11-year-old private equity player that has raised more than $2 billion and invested in more than 100 China-based startups, is targeting $1 billion for its newest fund. It has appointed EME Capital as its fundraising coordinator. PRESS RELEASE: China Science and Merchants (“CSM) has today launched a global capital raise […]
Koontz-Wagner, a South Bend, Indiana-based seller of electrical control systems for power generation for its aerospace, medical, and defense customers, has sold its subsidiary South Bend Controls for $10 million to publicly traded component manufacturer Curtiss-Wright. South Bend Controls makes solenoid-basec components used in aerospace, defense, industrial, and medical markets. Koontz-Wagner is a portfolio company […]
Listed online professional networking site LinkedIn will acquire IndexTank, the hosted search engine service. IndexTank CEO Diego Basch confirmed the news on the company’s blog. Specifics of the deal were not publicized. Backers include Freestyle Capital and Patagonia Ventures.
The Raine Group, the merchant bank founded by two former investment bankers, said Tuesday that it has raised $475 million for its first fund. Raine invests exclusively in entertainment, digital media and sports. In September 2010, Raine had raised $303.4 million for the pool, according to SEC filings. However, Fund I came in short of Raine's reported $500 million target. "For a first time fund to raise $475 million in this environment is great," one placement agent says. "They may have been too aggressive in setting the target." "That's phenomenal for a first time fund," another PA says. "That's big win in this market."
(Reuters) – Jones Group Inc, a maker of clothing, shoes and accessories, is in talks to sell off its stagnating jeanswear division as it focuses on its more profitable luxury brands, a move that sent its shares up as much as 14 percent. Jones said it is in talks with Israel’s Delta Galil Industries Ltd, […]
Confie Seguros, an insurance provider backed by San Francisco-based private equity firm Genstar Capital, has acquired the Florida operations of Trustway Insurance Agencies. Terms of the deal were not released. Trustway Insurance has 28 retail locations throughout Florida.
(Reuters) – Three years after the collapse of Lehman Brothers touched off a tidal wave of bankruptcy filings, corporate failures may be about to pick up again, with some big-name companies among those struggling for survival. Companies in a range of businesses, including hair salons, restaurants, renewable energy, and the paper industry, have tumbled into […]
(Reuters) – Ares Management LLC and Canada Pension Plan Investment Board agreed to buy 99 Cents Only Stores (NDN.N) for about $1.6 billion in cash, topping a rival offer by private equity firm Leonard Green & Partners. Ares Management is teaming up with the members of the Schiffer/Gold family, who are the biggest shareholders in […]