NEW YORK (Reuters) – A U.S. bankruptcy judge on Wednesday denied a request from auto supplier Delphi Corp (DPHIQ.PK) to pay private equity firm Platinum Equity up to $30 million in expense reimbursements if its bid for the company is topped. At a U.S. Bankruptcy Court hearing in Manhattan, Judge Robert Drain said $30 million […]
Global private equity deal volume for the first half of 2009 was $32.9 billion, according to data being released later today by Thomson Reuters. It represents the lowest opening six months for any year since 1997. Second quarter volume was just $15.1 billion, compared to $17.8 billion in Q1. Overall, financial sponsors accounted for just 3.5% of announced transactions in the first half, which is the lowest such percentage since the first half of 2000. Update: Get all the data after the jump.
Amerijet International Inc., a Ft. Lauderdale, Fla.-based portfolio company of H.I.G. Capital, has acquired NationsExpress, a nationwide express trucking company based in Charlotte.
Tejas Research & Engineering LP, a Houston-based provider of design, engineering and testing services to the completions segment of the oilfield services market, has acquired Team Oil Tools, a Tulsa-based manufacturer of packers and down-hole completion tools. The deal was financed by Tejas sponsor Intervale Capital. No pricing terms were disclosed.
Sun Capital Partners has completed its acquisition of Mobile, Ala.-based tire retailer Big 10 Tire Stores Inc. out of bankruptcy. Sun Capital had acquired Big 10 back in 2006, and provided DIP financing when the company went bankrupt earlier this year.
Black Canyon Capital has sponsored a recapitalization of JDC Healthcare, a Dallas-based dentral practice management company. No financial terms were disclosed for the recap, which was done in partnership with company management.
July 1 (Reuters) – Bank of America Corp’s (BAC.N) primary investment management unit is drawing lower than expected bids after its likeliest suitor, BlackRock Inc (BLK.N), inked a blockbuster deal to buy Barclays Global Investor (BARC.L), the Financial Times reported, citing people close to the matter. Bank of America has been trying to sell its […]
MUMBAI (Reuters) – India’s United Spirits (UNSP.BO), the world’s third largest spirits maker, has received term sheets from private equity firms Blackstone (BX.N), KKR and Capital International interested in buying a stake worth $250-300 million in the company, the Economic Times said on Wednesday. The company’s talks with financial investors were proceeding along with other […]
J.F. Lehman & Co. has acquired Defense Venture Group, a Charlotte, N.C.-based maker of force protection products and armored vehicles. No financial terms were disclosed for the deal, which was done in partnership with DVG management. WoodRock & Co. served as financial advisor to DVG.
LONDON (Reuters) – Last-minute talks have delayed the restructuring deal for French building materials company Monier Group, a portfolio company of PAI Partners, three sources with knowledge of the situation said. The 1 billion euro ($1.41 billion) debt-for-equity deal is now due to sign on Thursday, the sources said. It had been expected to be signed […]