Aurora Capital Group, the California-based private equity firm, has promoted three individuals within it Aurora Resurgence Management Partners group. Joshua Phillips is now a partner and managing director; Peter Leibman is a principal, as is Ryan McCarthy.
Advising on Bojangles’ shouldn’t be that difficult: order as much as you can, if you haven’t been to the champion chicken retailer of the South. Falfurrias Capital Partners, as peHUB.com reported earlier, will look to potentially sell its substantial minority stake in the business, it announced, with the help of Harris Williams. Under Falfurrias, Bojangles’ has grown its chain nearly 30% since September 2007.
Smart & Final, which is backed by Apollo Management, has agreed to sell its Henry's Farmers Market unit to Sprouts Farmers Market. Financial terms weren't announced. Apollo will be majority owner of the combined Sprouts-Henry company.
Henry "Hank" Morris, who was called the mastermind behind the pay-to-play pension fund scandal, is going to prison. Today, New York Attorney General Eric T. Schneiderman sentenced Morris to the maximum term of 1 1/3 to 4 years in state prison. Morris is the former adviser to ex-New York Comptroller Alan Hevesi. In November, he pleaded guilty to a single felony in the state's long running corruption investigation.
Baring Private Equity is planning its first investment in Australia after closing a $2.46 billion new fund, Reuters reported. Baring Asia has invested around 50% of its previous funds in China, Reuters said. The firm is now looking for ways to bring investors from China and India into Australia, Reuters said.
J Crew Group, which has received a $2.86 billion buyout offer in November from private equity firms TPG and Leonard Green & Partners, wrapped up its “go shop” period with no new offers, Reuters reported. The company had been in talks with parties including Sears Holdings Corp., Urban Outfitters Inc., and at least two private equity firms, but none resulted in an offer, Reuters said.
Swedish private equity group EQT has received at least five bids for German cable operator Kabel Baden-Wuerttemberg, Reuters reported, adding that the company may still opt for a public offering. Among the bidders are U.S. cable operator Liberty Global, and buyout shops CVC, Cinven, Providence and Hellman & Friedman, Reuters said. A sale of the company is estimated to reach as high as $3.38 billion.
Private equity firm Castanea Partners has acquired a majority stake in footwear designer and marketer Donald J. Pliner. Financial terms of the deal were not disclosed. Formed in 1989, Donald J. Pliner is based in New York. Founded in 2001, Castanea Partners is a $575 million fund. The firm is based in Newton, Mass.
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Create your free online surveys with SurveyMonkey, the world's leading questionnaire tool. Earlier this week, the sale of Del Monte hit a bump when a Delaware judge postponed the sale for 20 days, or until March 7. Why the delay? Vice-Chancellor J. Travis Laster of Delaware Chancery Court ruled that Del Monte board's board failed on two counts: The board let the adviser on the deal, Barclays Capital, provide financing to the would-be PE buyers, KKR, Vestar Capital and Centerview Partners; and it let allowed KKR to team up with Vestar, which previously made the high bid in an earlier phase of the process, according to Reuters. The judge was particularly critical of Barclays, writing in his ruling: "Barclays secretly and selfishly manipulated the sale process to engineer a transaction that would permit Barclays to obtain lucrative buy-side financing fees." Barclays issued a statement saying that it "strongly disagrees with characterizations that are based on an incomplete factual record."
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