PE-owned Select Staffing to merge with EmployBridge

Select Staffing, which is owned by Anchorage Capital Group and BlueMountain Capital Mountain, has agreed to merge with EmployBridge. No financial terms were disclosed for the transaction, which is expected to close in February. Upon completion of the deal, EmployBridge’s majority owners Morgan Stanley Global Private Equity and Constitution Capital will exit their stakes in the firm. Select Staffing and EmployBridge are two staffing firms that have about $3 billion in combined annual revenue. The merged company will be headquartered in Atlanta. Tom Bickes will serve as CEO, Paul Sorensen will become president and Shawn Poole will step into the roles of executive vice president and chief financial officer.

Advantstar Global Closes ENK Buy

Advanstar Global has completed its previously announced buy of ENK International for $155 million. ENK organizes fashion events in New York, Las Vegas, Europe and Asia. Advanstar is backed by Anchorage Capital Group, Ares Management, and Veronis Suhler Stevenson. GE Capital, RBS Citizens and U.S. Bank provided debt financing for the deal.

New Ownership For Contech

Contech has announced its new owners. Investors Anchorage Capital Group, Littlejohn & Co, Tennenbaum Capital Partners, and Farallon Capital Management have worked with Contech, its equity partners and its senior lenders to recapitalize the company and secure long-term financing. Contech is a provider of site solution products and services for the civil engineering industry. PRESS […]

Martinrea International Completes Acquisition of Honsel

Backed by Anchorage Capital Group, Martinrea International Inc. has completed the acquisition of Honsel AG, a German-based supplier of aluminum components for the automotive and industrial sectors. The merged company will be known as Martinrea Honsel Group. Martinrea owns 55% of the Martinrea Honsel Group, with Anchorage owning the remaining 45%.


Martinrea, Anchorage Capital Buy Honsel Assets

Martinrea International Inc. has teamed up with Anchorage Capital Group to buy the assets of Honsel AG, a German-based supplier of aluminum components for the automotive and industrial sectors. Martinrea and Anchorage will pay 101 million euro ($139 million) in cash, and the balance in assumed liabilities. The deal is expected to close in July. Martinrea will own 55% of the entity purchasing Honsel, with Anchorage owning the remaining 45%. Martinrea’s cash contribution to the purchase price will be approximately $77 million, and will be funded from credit funding sources arranged by Martinrea.

Carlyle, Anchorage Invest In $325M Central Pacific Recap

The Carlyle Group and New York-based Anchorage Capital Group will each put $98 million into Central Pacific Finance as part of a planned $325 million recapitalization, the company announced. Each firm will net a 24.9% stake in the company following the investments, and will each hold a board seat. Central Pacific is based in Hawaii and operates 35 bank branches, as well as a residential mortgage subsidiary, in the state.

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