Brad Edmister has joined Ropes & Gray as a private equity-focused partner in in the law firm's Tokyo office. He previously was with Milbank, Tweed, Hadley & McCloy's Tokyo office.
Viasystems Group Inc. has agreed to become publicly traded via a reverse merger with fellow printed circuit board maker Merix Corp. (Nasdaq: MERX). Viasystems shareholders HM Capital and GSC Partners will become the combined company's majority owners.
Triad Guaranty Inc. (Nasdaq: TGIC) has agreed to sell its IT and operating platform to Essent Guaranty Inc., a mortgage insurer formed earlier this year via a $500 million investment from Pine Brook Road Partners, Goldman Sachs, J.P. Morgan, PartnerRe and Renaissance Re. The deal is valued at up to $30 million, including a $15 million up-front payment and $15 million in earnouts.
(Reuters) – U.S. golf club shaft maker True Temper Sports Inc filed for Chapter 11 bankruptcy protection on Thursday, hurt by the downturn in the golf equipment industry. In a filing with the U.S. Bankruptcy Court for the District of Delaware, True Temper listed estimated assets of about $180.5 million and estimated liabilities of about […]
WARSAW (Reuters) – Private equity firm EQT plans to buy Polish specialised medical equipment maker HTL Strefa for 886 million zlotys ($310.1 million), the Polish company said on Thursday. EQT is offering to buy all of HTL Strefa’s 64.6 million shares at 13.71 zlotys apiece and has already reached an agreement to buy 77.8 percent […]
Alvarez & Marsal has added nine senior professionals to its private equity performance improvement unit: Ron Bernard and Stephen Griffin as managing directors in New York and Boston, respectively; Joel Mostrom as a senior director in New York; Paul Kosturos as a director in San Francisco; and Fabiana Fakhoury, Simon Flax, Jeffrey Klein, Jennifer Kim and Daniel Schellenberg as directors in New York. Bernard previously was president of LWB Media Consulting, while Griffin was founder of G5 Capital.
NEW YORK (Reuters) – The private equity firms that own U.S. radio operator Clear Channel Communications Inc, denied a story by The New York Post, which said banks have refused funding assistance. “The New York Post story about Clear Channel today is dead wrong, and we told them so,” a representative for private equity firms […]
BRUSSELS/NEW YORK (Reuters) – Blackstone Group LP (BX.N) plans to buy Anheuser-Busch InBev’s (ABI.BR) U.S. theme parks for up to $2.7 billion, the companies said on Wednesday, expanding the private equity firm’s entertainment portfolio. The sale by AB InBev was widely expected as the company focuses on paying off $45 billion in loans from the […]
MOSCOW (Reuters) – Private equity firm TPG Capital and the private equity arm of Russian state bank VTB (VTBR.MM) finalised the purchase of a 35.4 percent stake in Russian hypermarket chain Lenta, banking industry sources said. One of the sources on Wednesday said that the purchase price was $115 million. According to several sources, TPG […]
PHILADELPHIA (Reuters) – Clayton Dubilier & Rice Inc said on Wednesday it agreed to invest $477 million to get a 46 percent stake in commercial cleaning company JohnsonDiversey as part of a broader $2.6 billion recapitalization. JohnsonDiversey, which has annual sales of more than $3 billion, provides cleaning and sanitation services for the retail, healthcare […]