Paradigm Precision, a Phoenix-based portfolio company of American Capital, has acquired TM Industries Inc., a maker of machined components for the aerospace, power generation, oil and gas and defense industries. No financial terms were disclosed.
Conduit Capital Partners has acquired a 50% stake in GLEP Energias Renováveis e Participações SA, a Brazilian developer of small hydroelectric projects. No financial terms were disclosed.
Marwit Capital Partners has acquired Bruce Seed Farm Inc., a Townsend, Montana-based provider of native seed products. No financial terms were disclosed.
SHANGHAI (Reuters) – China appears to be tightening supervision of foreign investments in the country amid a widening investigation of two senior commerce ministry officials, people with direct knowledge of the matter said. Beijing has warned the commerce ministry and departments with power to approve foreign investments to be “increasingly cautious” when reviewing major deals, […]
NEW YORK (Reuters) – Department store chain Mervyns has received court approval to begin its going-out-of-business sales, and its liquidators are ready to start clearing out its stores on Friday. “The sales start tomorrow morning,” said Jim Schaye, chief executive officer of Hudson Capital Partners, one of the firms that will help run the […]
NEW YORK (Reuters) – GMAC LLC, the money-losing auto finance and mortgage provider, on Thursday confirmed it was seeking to become a bank holding company, and said it plans to overhaul and slash its debt load, barely four months after completing a $60 billion refinancing package. The Detroit-based lender said it was in talks with […]
NEW YORK (Reuters) – Private equity firm Carlyle Group is expected to bid for Lehman Brothers Holdings Inc’s investment management division, a source familiar with the matter said on Thursday. Two other private equity firms, Silver Lake, Blackstone (BX.N) and TPG have shown interest in the division but have not submitted formal bids, the source […]
HarbourVest Partners has teamed with Archer Capital on an unsolicited bid for Australian enterprise software company MYOB Ltd. The deal would value MYOB at around Au$487 million, a value that the company says is too low. www.myob.com
J.H. Whitney & Co. announced that it has acquired Igloo Products Corp., a Katy, Texas-based company that makes ice chests, beverage coolers and thermoelectric coolers. peHUB had originally reported the news earlier this month. The deal includes $95 million in unitranche debt financing from Unitranche Fund LLC, and a $40 million undrawn revolver from GE Antares Capital.
Patriarch Partners has agreed to acquire a bankrupt and shuttered Old Town, Maine-based pulp and paper mill, for $18.9 million. Patriarch plans to convert the mill into an ethanol production facility. Red Shield was closed be former owner Georgia-Pacific Corp. in 2006. www.patriarchpartners.com