Technitrol Inc. (NYSE: TNL) has completed the sale of its Denmark-based Medtech components business to Altor Equity for $200 million. The business generated $110 million in revenue last year, and includes the balanced armature receivers, high-end microphones and electromechanical devices for the hearing aid, high-end audio headset and medical device markets. PRESS RELEASE Technitrol, Inc. […]
LONDON(Reuters) – Lenders to French roofing company Monier Group have approved a restructuring deal that sees a group of debt investors take control of the company, a source with knowledge of the situation said on Thursday. The deal is one of the largest “loan to own” restructurings in Europe, and has been led by debt […]
DETROIT (Reuters) – A group of lenders to bankrupt auto supplier Delphi Corp. on Wednesday filed an objection to a sale brokered by the Obama administration, saying it had been “secretly negotiated” and that the company had stymied consideration of alternatives. The bankruptcy court filing marked an escalation in a showdown between investors that have provided […]
LONDON (Reuters) – British boiler maker Baxi said on Wednesday it had secured a standstill and waiver agreement on its leveraged loans, which will allow it to avoid breaching covenants and technical default. In mid June Baxi warned that it was in danger of breaching cashflow and leverage covenants when they were next tested at […]
DUBAI(Reuters) – Middle Eastern private equity firms sitting on $11 billion in cash are keen to put money in regional health and infrastructure projects, likely triggering a revival in the sector by the end of the year, industry leaders said. Private equity activity, the investment in non-listed companies, has sunk to all-time lows as their […]
Liberty Tire Services LLC, a Pittsburgh-based tire recycler owned by American Securities, has acquired Able Tire Co., which operates in Texas and Oklahoma. No financial terms were disclosed.
Relativity Capital has agreed to acquire certain waste transportation logistics assets of MHF Logistical Solutions Inc. No financial terms were disclosed. MHF is a portfolio company of Allied Capital.
NEW YORK (Reuters) – Rhode Island casino operator UTGR Inc, which operates under the name Twin River, filed for bankruptcy on Tuesday to help restructure and eliminate its debt load, according to court documents. The facility, which employs more than 800 people, has more than 4,700 slot machines, virtual blackjack, roulette tables, and live greyhound […]
MADRID (Reuters) – Pear Acquisition, on behalf of Citi Infrastructure Partners (CIP), said on Tuesday it had gained control of Spanish Itinere (ITIE.MC) in a cash deal worth 2.87 billion euros ($3.98 billion). CIP, a private equity fund owned by Citigroup (C.N), received acceptances worth 47 percent of Itinere and expects to receive an additional […]
CHICAGO (Reuters) - Republic Airways Holding Inc. said on Tuesday it would buy Midwest Airlines from private equity group TPG Capital for $6 million in cash and a $25 million note. In addition to getting all of Midwest's equity, Republic will receive TPG's $31 million secured note. After the completion of the deal, TPG may convert its $25 million five-year note to RJET stock at $10 per share. TPG also will have the right to nominate a member to Republic's board of directors. The deal comes a day after Republic said it would buy bankrupt U.S. regional carrier Frontier Airlines Holdings Inc (FRNTQ.PK) for $108.75 million. "This acquisition will enhance the strategic positioning of Republic Airways," Republic Chief Executive Bryan Bedford said of the Midwest purchase.