Technitrol Inc. (NYSE: TNL) has completed the sale of its Denmark-based Medtech components business to Altor Equity for $200 million. The business generated $110 million in revenue last year, and includes the balanced armature receivers, high-end microphones and electromechanical devices for the hearing aid, high-end audio headset and medical device markets. PRESS RELEASE Technitrol, Inc. […]
HONG KONG (Reuters) – UBS AG (UBSN.VX) on Thursday announced the appointment of Chi-Won Yoon as chairman and CEO of Asia Pacific, succeeding Rory Tapner, who is leaving the bank after 25 years. Yoon joined UBS in 1997 as Head of Equity Derivatives, becoming Head of Asia Equities in 2004, Head of Asia Pacific Equities […]
LONDON(Reuters) – Lenders to French roofing company Monier Group have approved a restructuring deal that sees a group of debt investors take control of the company, a source with knowledge of the situation said on Thursday. The deal is one of the largest “loan to own” restructurings in Europe, and has been led by debt […]
DETROIT (Reuters) – A group of lenders to bankrupt auto supplier Delphi Corp. on Wednesday filed an objection to a sale brokered by the Obama administration, saying it had been “secretly negotiated” and that the company had stymied consideration of alternatives. The bankruptcy court filing marked an escalation in a showdown between investors that have provided […]
LONDON (Reuters) – British boiler maker Baxi said on Wednesday it had secured a standstill and waiver agreement on its leveraged loans, which will allow it to avoid breaching covenants and technical default. In mid June Baxi warned that it was in danger of breaching cashflow and leverage covenants when they were next tested at […]
NEW YORK, June 24 (Reuters) – Private equity firm Kohlberg Kravis Roberts & Co [KKR.UL] said on Wednesday it plans to combine with its Amsterdam-listed fund, which will retain a Euronext listing, and kept the door open for a possible listing on the New York Stock Exchange. KKR’s plans to follow in rival Blackstone Group […]
DUBAI(Reuters) – Middle Eastern private equity firms sitting on $11 billion in cash are keen to put money in regional health and infrastructure projects, likely triggering a revival in the sector by the end of the year, industry leaders said. Private equity activity, the investment in non-listed companies, has sunk to all-time lows as their […]
Liberty Tire Services LLC, a Pittsburgh-based tire recycler owned by American Securities, has acquired Able Tire Co., which operates in Texas and Oklahoma. No financial terms were disclosed.
Relativity Capital has agreed to acquire certain waste transportation logistics assets of MHF Logistical Solutions Inc. No financial terms were disclosed. MHF is a portfolio company of Allied Capital.
NEW YORK (Reuters) – Rhode Island casino operator UTGR Inc, which operates under the name Twin River, filed for bankruptcy on Tuesday to help restructure and eliminate its debt load, according to court documents. The facility, which employs more than 800 people, has more than 4,700 slot machines, virtual blackjack, roulette tables, and live greyhound […]