Carousel Capital, a private equity firm based in Charlotte, North Carolina, has sold Jameson, a manufacturer of military lighting systems, to Torch Hill Investment Partners, a Washington DC private equity firm. Carousel bought Jameson in 2007 through its third investment fund, Carousel Capital Fund III. The terms of the deal were not disclosed.
Transtar, the automotive transmission distribution company based in Cleveland, Ohio, is up for sale and could go for around $700 million, according to Reuters. Private equity firm Linsalata Capital Partners is selling the company it bought five years ago and five firms, mostly private equity firms, are said to be interested.
Amadeus, the Spanish travel reservation company, saw its share price fall 4.4 percent by 1110 GMT on Friday, according to Reuters, after core shareholders raised 617 million euros ($863 million) by placing a 10.2 percent stake in the company. Private equity firms BC Partners and Cinven both sold 4.4 percent stakes while airline Iberia sold a 1.5 percent stake, the timing of which surprised the markets.
Denver-based private equity firm KRG Capital Partners has invested in PAS Technologies, which provides innovative repairs and advanced coatings for the aerospace, industrial gas turbine and oil and gas industries. The details of the deal were not revealed. KRG has a $1.96 billion Fund IV, which has so far acquired eight platform companies.
Mubadala, the Abu Dhabi investment fund, is planning a $7 billion investment, through 1Malaysia Development Berhad (1MDB), Malaysia’s aluminium sector. Other projects will include the Sarawak Corridor of Renewable Energy and the Kuala Lumpur International Financial District. Mubadala has stakes in Advanced Micro Devices Inc and Ferrari, General Electric and private equity firm Carlyle.
Private equity firm Blackstone is close to striking a deal with industrial real estate firm ProLogis to buy 180 properties for around $1 billion, according to Reuters and the Wall Street Journal. ProLogis is selling the properties to help pay down debts it incurred during boom-time expansion. Blackstone’s real estate assets were, at the end of June, around $23.8 billion.
Legislation that would crack down on hedge funds and private equity groups has led to talks between EU governments and the European Parliament, and a souring of relations between the EU and the U.S., with the U.S. saying the legislation would make it harder for their fund managers to do business in the EU.
Private equity firm Mason Wells, based in Milwaukee, WI, has bought Appleton Performance Packaging from Appleton Papers, Inc. Mason Wells will rename the business NEX Performance Films, Inc. The details of the deal were not disclosed. Mason Wells recently closed on a $525 million equity fund called Mason Wells Buyout Fund III.
John Swidler, Jean-Pierre Ouellet, Barry Tissenbaum and Francois R. Roy have been named members of the Noranda Income Fund by the Noranda Operating Trust. The Noranda Income Fund was formed to buy Noranda Inc.'s CEZ (Canadian Electrolytic Zinc Limited) processing facility and ancillary assets in Quebec.
GVK Power and Infrastructure, an Indian energy company, is seeking up to $600 million in private equity investment into two of its business, according to Reuters. TPG Capital and an investment arm of Standard Chartered are currently in talks to invest between $250 million and $300 million for a 30 percent stake in GVK’s airport business. 3i and Actis have struck ‘in-principle’ agreements to buy stakes in GVK’s energy business for around $280 million.