(Reuters) – Foamex International Inc (FMXL.PK), which makes foam for bedding and cushions, on Wednesday filed for Chapter 11 bankruptcy protection for the second time in four years to restructure its debt. The Media, Pennsylvania-based company first filed for Chapter 11 in September 2005 and emerged from bankruptcy protection in February 2007, with a reorganization […]
Danske Private Equity has held a second close for its fourth fund-of-funds, already reaching the vehicle's €600m target. The fund expects to hold a final close by June 2009. Danske said the capital was raised from institutions in Nordic countries and that it would be deployed equally between investments in small and mid-market buyout funds in Western Europe and the US. Unlike previous funds, Danske Private Equity Partners IV will also look for opportunities in the secondary private equity market and will co-invest with its other funds.
LONDON (Reuters) – Lenders to McCarthy & Stone, Britain’s largest retirement homes builder, including Lloyds Banking Group are poised to take control of the company, sources close to the deal said on Wednesday. Banks have proposed a debt-to-equity swap that will cut debt to 500 million pounds from 700 million, but want to take all […]
Rod Rivera has joined Dresner Partners as a senior managing director of healthcare. He previously was a managing director and co-head of healthcare services for Jefferies & Co.
LONDON (Reuters) – Low secondary loan prices in Europe are highlighting sectors where lenders face increased default risk and heavy potential losses, research from Thomson Reuters LPC shows. Secondary loan prices remain depressed after a widespread selloff last October, following the collapse of Lehman Brothers, and are now averaging 64.8 percent of face value, the […]
LONDON (Reuters) – Countrywide will receive a 75 million pounds ($106.4 million) cash injection from a group of four distressed debt specialists, including its owner U.S. firm Apollo, the UK’s largest estate agent said. The plans would see Countrywide’s annual interest payments cut in half, to about 20 million pounds a year, Countrywide said on […]
NEW YORK (Reuters) – Private equity firm Kohlberg Kravis Roberts & Co. said on Wednesday that a partnership deal to make three of its portfolio companies more environmentally friendly had saved $16.4 million. The partnership, started in May with the nonprofit organization Environmental Defense Fund, reduced fuel and emission costs at food distributor U.S. Foodservice […]
Monomoy Capital Partners has acquired the assets and operations of plastics injection molding company Moll Ramos from Moll Industries Inc. No financial terms were disclosed. Monomoy has merged Moll Ramos into plastic injection and extrusion platform company Fortis Plastics LLC.
Velocity Financial Group has opened an office in Santa Clara, Calif. It also hired Tony Huang as a vice president. Huang previously was a VP of tech banking at United Commercial Bank.
Jim Brady has joined Marlin Equity Partners as an operating partner, with a focus on the healthcare IT and services sector. He was founder and CEO of Payerpath (acquired by Misys Healthcare Systems in 2006), and later served on the board of Misys Healthcare Systems and the operating board of parent company Misys PLC.