Robert Crane, Gary Ran and Gary Weisman have formed Crane Aircraft Partners, an investment firm focused on the commercial aviation industry. Crane has experience in commercial aircraft leasing while Ran is the founder of Telemus Capital Partners. Weisman is the owner of General Wordwide Aviation. Crane Aircraft will be based in California and Michigan.
Newbury Partners, the Connecticut-based private equity secondary market investor, has added Andrew Levy to its team as a managing director. Previously, Levy worked with Auda Private Equity, where he worked on secondaries and co-investments.
Listed, Calif.-based VMWare Inc. announced Monday it would acquire Shavlik Technologies, a provider of cloud-based technologies for small to medium sized businesses. Shavlik Technologies was founded in 1993 and is based in Minnesota.
Superior Capital Partners said Monday that it has acquired Rubex from Chemence Inc. Financial terms weren't announced. Columbus, Ohio-based Rubex makes engineered butyl mastics, converted tapes and sealants that are used in electrical, automotive, construction, and industrial applications. The acquisition is an add-on for Edge Adhesives, a Superior Capital portfolio company.
Cerberus Capital Management has agreed to buy the global billing and payments unit of 3i Infotech. The deal includes the Regulus Group and J&B Software owned by 3i Infotech. Cerberus said it is paying $137 million. The transaction is expected to close in 60 days. Raymond James & Associates provided financial advice to 3i Infotech while Alvarez & Marsal provided accounting advice.
China’s CNinsure Inc. has received a $953 million offer to go private, Reuters reported. The offer came from a consortium of investors, led by the company’s chief executive, including TPG Asia, Kingsford Resources Ltd., and CDH Inservice Ltd. At $19 per share, the offer represents a 44% premium over the company’s closing price Friday. CNinsure is a property, casualty and life insurer.
Eight bidders, including Penta Investments and private equity firm EQT, will vie for the Polish assets of Swedish utility Vattenfall, Reuters reported, estimating the size of the deal at up to 1.5 billion euros ($2.1 billion). Other bidders include French utility GdF, Polish utility Tauron and gas monopoly PGNiG, Reuters wrote. Bidders have until Monday evening to place their initial offers.
Private equity firm Arle Capital has led a buyout, with engineering group Stork Technical Services, of the Scotland-based oilfield services firm RBG, Reuters reported. Arle and Stork bought the company from private equity shop 3i Group, Reuters said. Financial terms of the deal were not released. Arle Capital spun out of the buyout house Candover last January. Candover, a private equity victim of the credit crunch, last year decided to wind itself down.
Buyout shop Apax Partners has teamed up with Deficom Telecom to acquire certain assets of French cable operator Numericable. The two companies will pay more than 350 million euro ($493 million) for Numericable's units in Belgium and Luxembourg. Deficom is based in Luxembourg.
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