MUMBAI (Reuters) – Huntsman Corp (HUN.N) plans to use the proceeds from its $1 billion settlement with Apollo Management over their failed merger to reduce debt and increase liquidity, the U.S. chemical maker said on Wednesday. Last month, Huntsman Corp agreed to terminate its $6.5 billion agreement to be acquired by Apollo Management’s Hexion Specialty […]
Bright Horizons Family Solutions, a Bain Capital portfolio company, has acquired Work Options Group Inc., a Boulder, Colo.-based provider of back-up care solutions for both children and elders. No financial terms were disclosed.
Hub International Ltd., a Chicago-based insurance brokerage, has acquired the assets of Gemini Group Inc., a Denver-based employee benefits broker and consultant. No financial terms were disclosed. Hub was taken private in 2007 for $1.8 billion by Apax Partners and Morgan Stanley Principal Investments.
United Road Services Inc., a Romulus, Mich.-based provider of vehicle transportation and logistic services, has acquired Autolog Auto Transport, a Linden, N.J.-based vehicle logistics provider. No financial terms were disclosed. United Road is owned by The Gores Group.
Vector Capital is nearing a deal to acquire Israeli security software company Aladdin Knowledge Systems (Nasdaq: ALDN), according to TheMarker website. The company’s shares rose 37% to $9.62 per share on the news, which comes months after Aladdin rejected a $13 per share offer from Aladdin. www.aladdin.com
Standard & Poor's Ratings Services has lowered the corporate credit ratings of Aleris International Inc. from B to CCC+, and left its ratings on CreditWatch with “negative implications.” The Beachwood, Ohio-based aluminum products company was acquired by TPG Capital in 2006 for approximately $3.3 billion. www.aleris.com
Monitor Clipper Partners has closed its third buyout fund with $500 million in capital commitments, according to LBO Wire. It had been targeting $800 million. www.monitorclipper.com
Synchronous Aerospace Group, a portfolio company of Littlejohn & Co., has acquired Helicomb International Inc., a Tulsa, Okla.-based provider of aerospace composite structures. No pricing terms were disclosed for the deal, which included equity financing from Littlejohn and debt financing from Jefferies Finance.
Gunflint Capital has launched as a new boutique I-bank based in Edina, Minnesota. It is run by Bill Cavanagh, who previously was a principal with Counsel Funding Partners and a vice president with Bayview Capital.
Bob Ennis has joined Petsky Prunier LLC to lead the firm’s digital media practice. He previously was founder and president of Tensor Advisors and, before that, was a vice president of IAC/InterActiveCorp. www.petskyprunier.com