Masergy Communications, the provider of network services, completed its deal with ABRY Partners regarding the purchase of its existing equity. Specifics of the transaction were not publicized. Blake Battaglia, partner with ABRY, worked on the transaction for the private equity firm.
Hudong.com, China’s largest encyclopedia website, has reeled in another $15 million from investors including Draper Fisher Jurvetson. Since 2006, Hudong has raised about $30 million from a group of investors.
(Reuters) – Chatham Lodging Trust and Cerberus Capital Management LP CBS.UL said on Monday they had ended their $1.1 billion commitment to buy 64 hotels owned by the bankrupt Innkeepers USA Trust. The real estate investment trust and the investment company cited the occurrence of a “material adverse” condition for pulling out of the deal. […]
Let’s say that we had no business, no business experience, and no business idea. What would these “assets” be worth to a potential investor or to us for that matter? Hopefully, your answer is zero. Now, let’s say we don’t have a business or experience, but we do have a good idea. What is this […]
Private equity fund Brynwood Partners VI LP has acquired St. Paul, Minn.-based Pearson Candy Co. Terms of the deal were not released. Brynwood is a private equity fund that makes control investments in lower middle market companies. Pearson Candy was formed more than 100 years ago, and makes a wide range of candies, including “Pearson's Mint Patties” and “Pearson's Nut Goodies.”
Shares of 99-Cents Only Stores rose more than 8% Monday on news that Apollo Global Management was preparing to bid for the discount chain, Reuters reported. The news of a possible buyout was first reported by the New York Post. California-based 99-Cents Only Stores is currently valued at about $1.17 billion.
CVC Capital Partners is financing its acquisition of health club operator Virgin Active with around 450 million pounds ($745.7 million) of equity, Reuters reported. The firm has not put any debt financing into the deal, Reuters said. When the deal closes, CVC will hold a 41% stake in Virgin Active. Richard Branson's Virgin Group will hold the remaining 49% stake.
South Korea’s Samsung C&T is mulling a buyout of U.S.-based Parallel Petroleum, an oil firm owned by private equity group Apollo Global Management, Reuters reported. A deal could fetch as much as $920 million. Apollo bought Parallel in 2009 for about $483 million.
Evercore Partners has completed its acquisition of UK-based investment banking advisory firm Lexicon Partners. Terms of the deal were not released. Evercore is an investment banking advisory firm.
Bartlett Holdings Inc., which is owned by New York-based private equity firm Harvest Partners, has acquired AMES Group Holdings. AMES was previously owned by Greenwich, Conn.-based Capital Partners. Capital Partners will continue to hold a stake in the company. Terms of the acquisition were not released. AMES provides valve inspection and testing, preventative maintenance and repair services to the U.S. commercial nuclear power industry. Bartlett, which was bought by Harvest in 2010, provides services for nuclear, fossil and renewable power facilities.