Four buyout shops remain in the running for SLV Group, a German lighting business owned by HgCapital, Reuters said. A sale of the company could fetch more than 400 million euros ($562 million), Reuters estimated. European investment firms BC Partners, Charterhouse and Cinven are all in the second round of the auction. U.S. firm Lindsay Goldberg also remains in the running.
British insurer Aviva plans to sell its RAC roadside rescue business, and has hired JP Morgan to manage the sale, Reuters reported. Private equity firms are expected to be most interested in the business, which is valued at 500-600 million pounds ($804 million to $1.12 billion), the Financial Times reported.
Private equity firm Apax Partners will pay about $745 million for the Trader Corp. unit of media and marketing company Yellow Media Inc., Reuters said. The proceeds of the sale – set to close in June – will help Yellow Media pay down debt. Trader Corp. publishes about 160 publications and 22 websites on automotive, real estate, general merchandise and employment, Reuters said.
Proxy Fight? Take it to Twitter! Who You Callin' Yeller? Yellow Media to Apax Partners for $745M Ripped: A band of former White House economic advisors issue warning on the 2011 federal budget Research in Trouble: RIM’s growth is still a disappointment
The SEC on Thursday charged Mark Duffell, a former consultant of Accel-KKR, with insider trading. The regulator claims Duffell was involved in discussions involving Accel-KKR's pending buy of SumTotal Systems in March 2009 when he allegedly began amassing shares in the company in his personal trading account, according to a release. Duffell has agreed to settle the charges against him and pay disgorgement and penalties of over $300,000, the SEC said.
I’ve been wondering what happened to Tom Gores bid for the Detroit Pistons. A story in the Detroit News today talks about the deal but nothing new is revealed. Gores extended discussions with Pistons owner Karen Davidson after the window for formal negotiations expired in February. There's no guarantee a deal will happen, according to the story. Still, I did learn something new. I've been covering PE for a while but I didn't know that Tom, and his brother Alec, are from Michigan. According to the Detroit News, Tom Gores "pushed a broom to work his way through Michigan State University."
Schneider Electric, the energy management firm, has acquired Summit Energy Services, a portfolio asset of investor Western Presidio. Terms of the transaction were not specified and advisors on the deal were not publicized.
LONDON, March 24 (Reuters) – Four private equity firms remain in the hunt for SLV Group, the German lighting business owned by HgCapital which could fetch more 400 million euros ($562 million), people familiar with the matter said. European buyout houses BC Partners, Charterhouse and Cinven are all in the second round of the auction […]
Moelis Capital Partners said Thursday that Barbara Hill has been appointed an operating partner. Hill was most recently CEO of ValueOptions. She will focus on healthcare-related investments, and provide strategic and operating support to Moelis Capital's healthcare portfolio companies. Moelis Capital is the PE arm of Moelis & Co.
Thompson Street Capital Partners has put Iron Data on the block, four sources say. Atlanta-based Iron Data develops software for local and state governments. The company, which employs over 300 people, produced more than $25 million EBITDA, one PE exec says. Thompson Street was seeking bids of 10x for Iron Data, the source says. “It was pretty frothy,” the person says of the auction.