NEW YORK (Reuters) – New York-based private equity firm Quadrangle Capital Partners will “substantially close” its London office and pursue its European investments out of the United States, an investor letter dated Friday said. Quadrangle — co-founded by Steven Rattner, who left the firm earlier this year — also plans to increase resources in Asia […]
BOSTON (Reuters) – Columbia University said on Friday that its endowment lost 16.1 percent in its last fiscal year, far less than its Ivy League rivals Harvard and Yale. The New York City-based school’s endowment shrank to $5.7 billion on June 30, 2009, from $7.2 billion a year earlier. Like other prominent universities’ endowments, Columbia’s […]
STOCKHOLM (Reuters) – A group of bidders has been selected for the second round of the planned sale of drug company Swedish Orphan, sources with knowledge of the matter said on Friday. The selected indicative bids valued the company, jointly owned by Swedish holding company Investor AB (INVEb.ST) and Priveq, at more than 300 million […]
LONDON (Reuters) – Spain’s Cosmen family and private equity firm CVC Capital Partners moved a step closer to mounting a formal bid for British transport group National Express (NEX.L) on Friday by gaining access to its accounts. National Express said in a statement the board had agreed with advisers and major shareholders that the consortium […]
Chandler/May Inc., a Huntsville, Ala.-based provider of military ground control stations for command and control and unmanned aircraft, has acquired AeroMech Engineering Inc., a San Luis Obispo, Calif.-based provider of unmanned aircraft engineering services and manufacturing. No financial terms were disclosed. Chandler/May is a portfolio company of Arlington Capital Partners.
California Products Corp., an Andover, Mass.-based maker of architectural coatings, has acquired the customer base and certain assets of Louisville, Ky.-based Progress Paint Manufacturing Co. No financial terms were disclosed. California Products is a portfolio company of Apollo Capital Management.
Inflexion Private Equity, a UK-based mid-market buyout firm, has closed a new co-investment fund with £75 million in capital commitments. It will invest alongside a £165 million fund raised in 2006.
The Outsource Group Inc., a St. Louis-based provider of receivables management services to the healthcare industry, has acquired Medstandard Inc., a Houston, Texas-based provider of patient screening and Medicaid eligibility services. No financial terms were disclosed. Outsource Group is owned by ClearLight Partners.
Trustwave Corp., an Annapolis, Md.–based provider of on-demand data security and payment card industry compliance management solutions, has acquired Vericept Inc., a Denver-based provider of provider of data loss prevention and IP protection solutions. No financial terms were disclosed. Trustwave raised $10 million from FTV Capital in 2004, while Vericept had raised nearly $70 million since 2000 from firms like Sigma Partners, Chicago Growth Partners, Globespan Capital Partners, Visa and Sequel Ventures.
Luca Destito has joined Investindustrial. He previously was a partner with lnvestitori Associati.