PE Deals

TORONTO (Reuters) – Borealis Infrastructure Management Inc said on Tuesday it will cut its takeover offer for Teranet Income Fund (TF_u.TO) by nearly 7 percent as market conditions have deteriorated and the cost of capital has risen. Borealis, an investment arm of the Ontario Municipal Employees Retirement System pension fund, said it will now offer […]

Sixth Gear Solutions Corp., an independent auto finance company for U.S. car dealerships, said in a court filing that it may be forced to shut down due to the bankruptcy of Lehman Brothers, which underwrites most of its business. It is asking the court to either compel Lehman to continue funding the company, or to […]

SEOUL (Reuters) – U.S. private equity firm Ripplewood Holdings was picked on Wednesday as the favored bidder to buy South Korea’s Daewoo Electronics, after two failed attempts to sell the loss-making appliance and TV maker. Ripplewood beat a consortium of Digilant Systems and Russian investors in the race for Daewoo, formerly part of the failed […]

Graphite Capital has overcome the freeze in the buyout market by backing an existing management team in the elderly healthcare homes space. The UK private equity firm is investing £23 million of equity from its most recent fund and has raised £30m of debt from a banking syndicate to back the management of existing portfolio company […]

H.I.G. Capital has acquired Petroform Inc., a Gurnee, Ill.-based specialty chemicals company focused on surfactants, formulations and services for industrial and consumer products. No financial terms were disclosed.

DETROIT (Reuters) – GMAC, the auto finance and mortgage company, is seeking to become a bank holding company in order to access the government’s $700 billion financial rescue plan, the Wall Street Journal reported on Tuesday. GMAC spokesman Gina Proia said the finance company had no comment on the report. Cerberus Capital Management, the private […]

Oct 28 (Reuters) – Shares of Apria Healthcare Group Inc (AHG.N: Quote, Profile, Research, Stock Buzz) soared 45 percent after the home health-care services company said its acquisition by the Blackstone Group (BX.N: Quote, Profile, Research, Stock Buzz), would close Tuesday, putting to rest fears that the deal may not go through. In June, Apria […]

Ice Energy, an energy storage company based in Windsor, Colo., has received $33 million in financing from Energy Capital Partners, a private equity firm based in Short Hills, N.J. Press release Investment led by Energy Capital Partners also provides for up to $150 million in additional equity financing for large scale energy storage projects WINDSOR, […]

Lakeside Energy, an energy-focused private equity firm, has committed $150 million in equity to support the growth of InenTec, a Bend, Ore.-based energy company. The investment will launch InEnTec Chemical, a JV deal that aims to convert chemical waste. Press release: InEnTec LLC and Lakeside Energy LLC today announce a new partnership to facilitate construction […]

Duke Street has completed its acquisition of Biomnis, a medical disgnostics provider based in France, for 217 million Euros. Duke Street is a London and Paris-based mid-market buyout firm. Press release: Duke Street, the European mid-market Private Equity firm, today announces it has completed the acquisition of Biomnis, the leading provider of specialist medical diagnostics […]