Vue, Britain’s third-largest cinema chain, is looking for new private equity backers in a deal that could be worth 400 million pounds ($627 million). Cinemas in Britain are owned predominantly by private equity groups: Terra Firma owns the largest group, Odeon, while Cineworld, in second-place, is owned by Blackstone.
There are a lot of names being mentioned in the Novell auction. The newsiest is that Silver Lake Partners, the PE firm that invests in big tech companies like Instinet and Flextronics, is supposedly bidding for Novell. Some people are saying they are involved and some are saying the rumors are completely false. I don't know what to believe. GTCR Golder Rauner, the Chicago PE firm, is also being mentioned. GTCR was looking at Novell, sources say, but it's not clear if they are still involved.
Thompson Publishing Holdings Co has filed for Chapter 11 bankruptcy, according to court filings. The company has assets between $10 million and $50 million and liabilities estimated between $100 million and $500 million.
Quad-C Management, a Charlottesville, VA, private investment firm has bought Durcon, a supplier of work surfaces, from Stonebridge Partners, a private equity firm based in White Plains New York. Durcon was advised by Harris Williams & Co.
CHICAGO, Sept 21 (Reuters) - Clorox Co. has struck a deal to sell STP and other auto-care brands to private equity firm Avista Capital Partners for $780 million so it can focus more on lucrative businesses like hospital disinfectants and beauty products. The household products company in recent years has acquired U.S. brands including Burt's Bees skin-care products. Clorox does most of its business in North America, but should look at opportunities to grow in Latin America and Asia after the sale, said RBC Capital Markets analyst Jason Gere.
Quantum Energy Partners has formed Quantum Utility Generation, which will buy and develop conventional and alternative energy projects in North America. The Houston company will be capitalized with $1 billion of equity, $500 million of which has been committed by Quantum. Another $500 million in equity will come from other co-investing financial and strategic partners. Quantum is a buyout shop w iht more than $5.7 billion of assets under management.
(Reuters) - Restoration Hardware plans to raise as much as $300 million in an initial public offering that would allow its private equity backers to cash in on part of their investment in the U.S. furniture retailer, a source familiar with the situation told Reuters. Bank of America Merrill Lynch and Goldman Sachs would lead the IPO, which is planned for the first half of next year, the source said.
(Reuters) - Private equity firms TPG CapitalLP and Silver Lake Partners held early stage talks about buying Seagate Technology Plc, but it is unlikely that it will result in a deal, a source familiar with the situation said on Tuesday. Hard-drive company Seagate Technology has a market capitalization of about $5.3 billion. News of the talks was earlier reported by Bloomberg.
President Obama finally responded to Stephen A. Schwarzman’s infamous Nazi comments. Obama was speaking yesterday at a town hall meeting broadcast live on CNBC. Early in the video, Anthony Scaramucci, a managing partner with SkyBridge, a New York hedge fund, complained that Obama was treating Wall Street like a piñata. Later, CNBC correspondent John Harwood specifically asked Obama about the Forbes magazine cover story that accuses the president of adopting "the cause of anti-colonialism" of his Kenyan father. Harwood then mentioned the infamous Nazi comments from Schwarzman. Schwarzman, Blackstone Group’s chairman and CEO, in August compared the Obama administration’s proposed tax changes to Adolf Hitler’s invasion of Poland.
General Atlantic and Sequoia Capital have bought MedExpress Urgent Care from Excellere Partners. Financial terms of the deal, which closed today, were not announced. General Atlantic is lead investor, a GA spokeswoman says. News of the deal was reported by peHUB yesterday. Excellere, a private investment firm, acquired a majority stake in MedExpress via a recap in 2007. Company management owned the balance. Excellere has sold its stake, a source says. MedExpress's management will continue in their positions and will continue to own a stake, says Erich Lipphardt, the company's vice president of development and marketing. One banker valued the sale at roughly $450 million.