Summit Materials, an acquisition platform in the building materials market, has acquired Cornejo & Sons, a Wichita, Kansas-based producer of and and gravel, asphalt and ready-mix concrete. No financial terms were disclosed. Summit was formed last fall by The Blackstone Group, Silverhawk Capital Partners and former BHP Billiton CEO Charles Goodyear. It has up to $780 million in capital commitments.
Lineage Power Holdings Inc., a portfolio company of Gores Group, has completed its acquisition of PECO II Inc. (Nasdaq: PIII), a Galion, Ohio-based provider of engineering and on-site installation services related to communications power systems and power distribution equipment. The deal was valued at around $16.7 million, with PECO stockholders receiving $5.86 per share.
(Reuters) – U.S. newspaper and magazine publisher Hearst Corp is closer to buying digital marketing company iCrossing for about $375 million, the Wall Street Journal said, citing people familiar with the matter. The iCrossing deal would help Hearst to augment its Web presence and win more advertisement dollars from the Internet, the Journal said. In […]
Molycorp Inc., a Greenwood Village, Colo.-based rare earth mining company, has filed for a $350 million IPO. It plans to trade on the NYSE under ticker symbol MCP, with J.P. Morgan and Morgan Stanley serving as co-lead underwriters. The company was created in 2008 when Chevron Mining sold its Mountain Pass operations to an acquisition […]
FRANKFURT (Reuters) – U.S. private equity firm Blackstone (BX.N) is looking into the possibility of buying Cologne department store chain Kaufhof, part of the Metro group (MEOG.DE), German business daily Handelsblatt said in an abstract of a story due to be published on Monday. The paper cited works council sources. A spokesman for Metro AG […]
MUMBAI (Reuters) – Indian conglomerate GMR Group aims to raise $100 million in private equity for its power business, a top official said on Monday, adding to $515 million it had collected this month. Bangalore-based GMR, which builds and manages power plants, airports and roads, is talking to firms for the additional funding and hopes […]
(Reuters) – Dutch semiconductor company NXP Semiconductors N.V. on Friday filed with U.S. regulators for an initial public offering of up to $1.15 billion. NXP, which filed under the name Kaslion Acquisition B.V., said it would change its name to NXP. Private equity investors including Kohlberg Kravis Roberts & Co, Bain Capital, Silver Lake Partners, […]
NEW YORK/LONDON (Reuters) – Providence Equity Partners is among the bidders for corporate investigations firm Kroll, along with BC Partners Ltd and Apax, as private equity deals heat up again, sources familiar with the matter said. Kroll, put up for sale by the No. 2 global insurance broker Marsh & McLennan Cos Inc (MMC.N), attracted […]
Lightyear Capital has agreed to sell its majority stake in The NAU Group, a provider of crop insurance in the U.S., to a unit of Australia's QBE Insurance Group. The deal is valued at $565 million, plus a special dividend at closing.
Niska Gas Storage, a Gridley, Calif.-based owner and operator of natural gas storage assets in North America, has set its IPO terms to 17.5 million common units being offered at between $19 and $21 per unit. It plans to trade on the NYSE under ticker symbol NKA, with Goldman Sachs and Morgan Stanley serving as […]