Morgenthaler Private Equity announced that is has acquired Enginetics Aerospace, a Huber Hights, Ohio-based maker of metal components for commercial and military aircraft engines. No financial terms were disclosed. The firm also disclosed that it has sponsored a recapitalization of Satellite Logistics Group, a Houston-based provider of reverse logistics solutions and related services to the beer and beverage industry.
PNC Equity Partners and MTN Capital have acquired a majority stake in Revolution Dancewear, a Niles, Ill.-based maker of footwear, bodywear and recital costumes for dancers. No financial terms were disclosed. Revolution Dancewear was advised on the deal by Roth Capital Partners. www.revolutiondance.com
The proposed sale of Pioneer Investments may be on hold for now, but the Boston asset manager is already seeing some defections. peHUB has learned that Stan Wasilauski, Pioneer’s chief technology officer, and Chris Chapin, vice president of technology, are both leaving. Wausilauski is jumping to another firm in the Boston area (could rhyme with late feet), while Chapin is believed to be joining a high tech startup.
(Reuters) – A $1.85 billion portfolio of distressed commercial real-estate loans auctioned by the U.S. Federal Deposit Insurance Corp has been won by a partnership between Tom Barrack’s Colony Capital LLC and investment firm Cogsville Group LLC, the Wall Street Journal said. The deal, expected to be made public by the FDIC on Wednesday, is […]
Wingate Partners has acquired Dunn Paper Acquisition Inc., a Port Heron, Mich.-based specialty paper manufacturer, from Meriturn Partners. No financial terms were disclosed.
Outsourcing remains a hot sector for private equity investments. On Tuesday, the Charterhouse Group and Thompson Street Capital Partners announced they have bought Colo4 LLC, an outsourced provider of colocation services to third parties. Companies outsource their computing infrastructure to Colo4 rather than build their own data centers. It's unclear what Colo4 sold for, but Charterhouse has invested in the sector before. In 2004, Charterhouse bought Lason inc., a provider of information management and business process outsourcing to customers in financial services, healthcare and government. Charterhouse sold it in 2007 for more than $120 million, or roughly 5x return on invested capital.
Hugh Hefner has released text of a letter sent to the Playboy board of directors, regarding his bid to take the company private. Get it after the jump...
NEW YORK (Reuters) – Swimming-pool supplies company Leslie’s Poolmart Inc is being marketed for sale and a number of private equity firms are considering buying it, two sources familiar with the situation said on Tuesday. Los Angeles-based private equity firm Leonard Green & Partners is a majority owner of Leslie’s, according to a Moody’s Investors […]
The auction of Modern Luxury Media is nearing its conclusion, and it looks like the magazine will have the last laugh. Bids had been expected to come in at around $10 million, but peHUB has learned that the publisher received multiple offers closer to $30 million. Two bidders remain, with a final decision expected later this month. We're not yet sure who made the final auction round, or if Modern Luxury founder and ex-CEO Michael Kong remains in the mix. Private equity suitors have included Platinum Equity and Castanea Partners, while Berkery Noyes is managing the process. Modern Luxury was riding high in 2007 when its then-owner, Shamrock Capital, sold its 60% stake to Clarity Partners. At the time, Modern Luxury, had $16 million of EBITDA, but it has since declined significantly. Currently, it has nearly 30 publications in 13 major markets including Angeleno, Manhattan and Interiors.
Thompson Street Capital Partners and Charterhouse Group have acquired Colo4 LLC, a Dallas-based provider of carrier-neutral colocation data center services. No financial terms were disclosed.