Milestone Partners has completed its acquisition of Mariner Finance LLC from First Mariner Bancorp (NasdaqGM: FMAR). No financial terms were disclosed. Mariner Finance is a Baltimore-based provider of medium-term installment loans, related credit insurance and ancillary products to near-prime borrowers.
Kinderhook Industries has agreed to acquire International Absorbents Inc. (NYSE: IAX) for approximately $30.38 million, or $4.74 per share (18.2% premium to yesterday's closing price.). International Absorbents is a maker of environmentally-friendly pet care and industrial products.
TorQuest Partners has agreed to acquire the refined wood rosin and natural wood terpines business of Hercules Inc., a subsidiary of Ashland Inc. (NYSE: ASH). The deal is valued at approximately $75 million. TorQuest will rename the company Pinova.
True Temper Sports Inc., a Memphis, Tenn.-based maker of golf shafts and performance sports equipment, has completed a financial restructuring plan that was approved by the U.S. Bankruptcy Court. A group of investors led by Newport Global Advisors and Providence Equity Partners now hold a majority stake in the company.
Oaktree Capital Management has committed $500 million to help form Sky Holding Co., a San Francisco-based airline leasing company formed by former executives of Pegasus Aviation.
Robert Purgason has been named chief operating officer of Chesapeake Midstream Partners, a recently-formed 50/50 partnership between Global Infrastructure Partners and Chesapeake Energy Corp. He previously was COO and executive vice president of Crosstex Energy Services.
Partners Group of Switzerland has closed its latest secondary fund with €2.5 billion in capital commitments, compared to an original target of €2 billion.
HONG KONG (Reuters) – British private equity firm 3i Group Plc (III.L) said on Tuesday that it expects to invest up to a combined $300 million in about three deals in China next year as it moves to regain momentum after making no investments in 2009. “We hope to invest in two to three deals […]
(Reuters) – Stanford University has pulled $5 billion of private-partnership interests from the auction block due to a recovery in the stock and bond markets, the Wall Street Journal reported. During the recession top universities shored up their weakened finances by selling bonds and in September Stanford said it was shedding a further 60 positions […]
Moosejaw, a Madison Heights, Mich.-based multi-channel retailer of outdoor active apparel and equipment, has raised an undisclosed amount of growth equity from Glencoe Capital’s Michigan Opportunities Fund.