HM Capital Partners has agreed to sell Sturm Foods, a maker of hot cereal and powdered soft drink mixes, to TreeHouse Foods (NYSE: THS). The deal is valued at $660 million, and is expected to close by the end of Q1 2010.
Kansas Venture Capital has acquired the former AAIPharma bioanalytical division from ZeeCRO Inc. No financial terms were disclosed.
Gulf Marine Maintenance and Offshore Service Co. (GMMOS), a UAE-based provider of marine services to the offshore oil & gas industry, said that its chartering division has acquired five offshore support vessels. The purchase was financed by a recently-secured $100 million term loan facility from Standard Chartered Bank, Abu Dhabi Commercial Bank, Credit Suisse and Deutsche Bank. GMMOS is backed by Abraaj Capital and Waha Capital.
(Reuters) – U.S. newspaper publisher Heartland Publications LLC filed for Chapter 11 bankruptcy on Monday, hurt by a fall in advertising revenue due to the economic downturn and growing competition from Internet-based alternatives. As of Oct. 31, 2009, Heartland Publications reported about $134.3 million in total assets and about $166.2 million in total liabilities, court […]
PARIS (Reuters) – German insurer Allianz (ALVG.DE) said on Monday it was in exclusive talks over a possible sale of its French AGF Private Equity division to IDI, another private equity firm. IDI said it would aim to expand the AGF Private Equity business if it acquired it, and the parties involved said they hoped […]
Rock Gate Partners has acquired Walpar Inc., a Birmingham, Ala.-based maker of highway signage structures. No financial terms were disclosed. Peninsula Capital Partners provided mezzanine financing and an equity co-invest, while Wachovia Bank provided senior debt.
NEW YORK (Reuters) – Citadel Broadcasting Corp (CTDB.OB), the third-largest U.S. radio broadcaster, said on Sunday it filed for the bankruptcy protection, as the radio industry continues to be hard hit by depressed advertising revenue. Citadel, whose network consists of 165 FM stations and 58 AM stations, filed for Chapter 11 bankruptcy protection under a […]
LONDON (Reuters) – U.S private equity firm Apollo has approached British bookmaker and bingo group Gala Coral with a rescue proposal, according to The Sunday Times, citing sources familiar with the plans. Apollo has submitted a proposal to Gala Coral’s board under which it would pay 250 million pounds ($405 million) in exchange for half […]
NEW YORK/CHARLOTTE, N.C. (Reuters) – Former Bank of America Corp (BAC.N) Vice Chairman Gene Taylor is putting together a fund to invest in U.S. banks after a bid to inject capital into a small Florida bank fell apart, sources familiar with the matter said. Taylor is backed by Crestview Partners LP, the sources said, declining […]
Sanjay Patel has agreed to join Apollo Management as head of international private equity, according to Dow Jones. He previously was co-head of European private equity and junior debt investing at Goldman Sachs.