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Close Brothers Private Equity has sponsored a Gbp129m management buyout of Warwick International from Sequa Corp. Close Brothers invested Gbp55 million, while RBS led a four-bank leveraged financing syndicate. Warwick International is a UK-based company with two separate businesses: Specialty chemical maker focused on the global laundry detergent market, and a network of niche chemical […]
Actis has sponsored a management buyout of Teknicast, a Malaysian manufacturer of aluminum die-casting products. No financial terms were disclosed, except that the company has annual revenue of over $40 million. www.act.is
Summit Partners has hired four vice presidents: Amit Chaturvedy (Boston), formerly with Kildare Enterprises, Chris Crawford (Boston), previously with Goldman Sachs, Matthias Steinberg (London), previously with PlateTronic International, and Rytis Vitkauskas (London), previously with Merrill Lynch. Read more
Listed Swedish private equity firm has completed a EUR 50m (SEK 473m) recapitalisation of its Finland-headquartered piping systems portfolio company GS-Hydro. Cash-out refinancings were common in the 12-18 months preceding the onset of the liquidity crisis in August 2007. Debt was plentiful and strong performance from portfolio companies enabled private equity firms to retain ownership […]
Scotland-based Reservoir Group has acquired Extreme Machining, an Australia-based drilling tools products company. The deal represents Reservoir Group's fifth acquisition since it was incorporated last year with backing from SCF Partners, a specialist oilfield service and equipment private equity sponsor. Previous acquisitions include London-based Storecore and Omega Data Services of Aberdeen. Reservoir is aiming to […]
LDC Scotland, a mid-market private equity arm of Lloyds TSB bank, has recruited Steven Gray, a former director of integrated finance with HBOS. Gray will be based in Aberdeen. He previously spent five years in HBOS' global energy team and has worked on transactions in Europe and North America. LDC recently opened its first Scottish […]
Noble Environmental Power LLC, an Essex, Conn.-based developer of wind-powered renewable electric generating projects, said that it will offer around 24.44 million common shares in its IPO. The company has still not disclosed a price-range, although it originally filed to raise $375 million. Noble It plans to trade on the Nasdaq under ticker symbol NEPI, […]
Xunlight Corp., a Toledo, Ohio-based developer of low-cost and flexible thin-film silicon solar modules, has raised $11 million in Series C funding. Rabo Ventures led the round, and was joined by return backers Trident Capital and Emerald Technology Ventures. The company had previously raised $29 million.     PRESS RELEASE Xunlight Corporation, a leader in the […]
Baxano Inc., a Mountain View, Calif.-based developer of minimally-invasive spinal devices, has raised $20 million in Series B funding, according to a regulatory filing. VentureWire reports that Kearny Venture Partners led the round, and was joined by return backers Prospect Venture Partners and Three Arch Partners. The company had previously raised $8.64 million. www.baxano.com
Summer Street Capital Partners has acquired Willcare, a Buffalo, N.Y.-based provider of home healthcare services in parts of New York and Ohio. No financial terms were disclosed, except that Summer Street typically invests between $5 million and $30 million in companies with between $20 million and $100 million in annual revenue.   PRESS RELEASE   […]
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