Castle Harlan Inc, the 28-year old private equity firm, is giving up trying to raise [...]Continue
Readerlink Distribution Services LLC has agreed to buy Baker & Taylor Marketing Services U.S. and Baker & Taylor Publishing Group. Financial terms weren’t announced. Charlotte, N.C.-based Baker & Taylor, which is majority owned by Castle Harlan, said BTMS UK and BTMS Mexico are not included in the transaction.Continue
EBSCO Information Services said Friday it has acquired YBP Library Services from Baker & Taylor. Financial terms weren’t announced. Contoocook, N.H.-based YBP provides print and digital content, supporting collection management and technical services to academic, research and special libraries globally. Baker & Taylor is a portfolio company of Castle Harlan Inc.Continue
Tensar Corporation has been acquired by Castle Harlan. Tensar Corporation was previously owned by Arcapita.Continue
Castle Harlan has promoted Tariq Osman to Managing Director. Osman has been with Castle Harlan since 2008 and previously was a Vice President.Continue
Good morning Hub Readers. Click through for some of the latest news updates from the weekend before the busy week starts.Continue
Caribbean Restaurants, the franchisee of Burger King in Puerto Rico, is considering options to refinance its existing indebtedness. The company is currently principally owned by the private equity firm Castle Harlan which bought the company in 2004. PRESS RELEASE Caribbean Restaurants, LLC, the exclusive franchisee of Burger King in Puerto Rico, is considering options to […]Continue
Reddit User tries to track his brother after he goes missing in NYC
Did PE Pro John Castle break a waiter’s finger?
You Know Your Campaign Sucks when you lose to a comedian in your home state
No, People. I’m not editorializing, I’m an expert. People have to stop drinking Coors Light. Now, go try a microbrew.
Be Easy, Man! Fed officials weigh another round of easing
Back to Your Roots: VCs put your money where the risk is
Game On: Game companies fundraising record in 2011
Boston Lights Up: A slew of financing, acquisitions and partnership news from the area
Startup Watch: Five to follow
Indian Property is Hot: It’s all happening for Indian developers in private equity real estateContinue
In a surprise (for me), peHUB readers have chosen Mitt Romney’s political ascension as the biggest PE story of the year.
Nearly 28% of voters picked the Bain Capital founder as 2011’s top story.
The plunge in M&A and fundraising during the second half of the year came in second with about 22% of votes. And, the fact that PE firms are actually interested in bidding for Yahoo came in third place with 19.6% of voters.Continue
Tilman Fertitta has struck a $117 million deal for Morton’s Restaurant Group, writes Reuters. Chicago-based Morton’s said on Friday private equity firm Castle Harlan, which owns a 27.7 percent stake in the company, will tender its shares and vote in favor of the deal, wrote Reuters. (Reuters) – Tilman Fertitta struck a $117 million deal […]Continue
It’s Friday. Time to catch up on stories you might have missed during a busy week. Following are the peHUB posts that garnered the most unique pageviews from our regular readers between Nov. 28 and Dec. 2.
ONE: The Uniforms of Silicon Valley, a Slideshow – by Connie Loizos
TWO: Quien Es Mas Macho? A Slideshow of the Top 5 U.S. PE Funds this Year – by Luisa Beltran
THREE: Four Ways to Finesse Your Way into the Top Quartile – by Joanna Glasner
FOUR: Most Active VC firms in October: Slideshow – by Alastair Goldfisher
FIVE: Slideshow: Maine Reveals Bite Taken By Fees, Expenses – by David Toll
SIX: Venture Backed IPOs Feel The Pain, But Some Stay Above Water – by Mark Boslet
SEVEN: Court Backs Subpoenas Of Castle Harlan Over Quick Flip – by Bernard Vaughan
EIGHT: Slideshow: European PE Performance First Half 2011 – by Angela Sormani
NINE: Parish Capital Hands Keys to StepStone – by Gregory Roth
TEN: When the Majority Is Wrong – by Larry Cheng
H.I.G. Capital announced Thursday that it had completed the sale of Securus Technologies to Castle Harlan. Terms of the deal, which closed at the end of May, were not released. Securus, based in Dallas, was formed by H.I.G. in September 2004 through the merger of Evercom Systems and T-Netix. The Company provides detainee communications and information management technology for correctional facilities.Continue
New York-based private equity firm Castle Harlan has promoted Anand Philip to the post of managing director, and added Joyce Demonteverde to the firm as a vice president. Demonteverde had previously been with Castle Harlan prior to going to the Harvard Business School. Philip has been with Castle Harlan since 2006 and was previously a vice president.Continue
Today, we have yet another secondary deal between private equity firms.
Castle Harlan is buying Securus Technologies from H.I.G. Capital, according to my companeros at Thomson Reuters Loan Pricing Corp. Castle Harlan is currently in the market for a $365 million loan to back the deal. BNP Paribas and GE Capital are leading the financing.
In April, Securus also applied with the FCC to transfer control of the company to “Connect Acquisition Corp.” which is owned by Castle Harlan.Continue
Morton’s Restaurant Group said Wednesday that it is exploring strategic alternatives, which may include a sale. Morton’s, which is owned by Castle Harlan and Lauren Crown Partners, has hired Jefferies & Co. as its financial advisor.Continue
Five years after acquiring Ames True Temper, a Camp Hill, Penn.-based maker of non-powered lawn and garden tools, New York-based private equity firm Castle Harlan has completed its sale to the publicly traded manufacturing firm Griffon Corp. for $542 million. PRESS RELEASE: Castle Harlan, Inc., the New York private equity firm, announced today that Castle […]Continue
Justin Wender and I weren ‘t able to connect via phone, but he sent over the following statement on his departure from Castle Harlan:
“I have always been very committed to Castle Harlan and really expected to make it my whole career. I think most people who know me know that. After many conversations over the last several months about the long term direction and future ownership of the firm, it became clear to me that I didn’t share the same perspective as that of John and Leonard, and those differences simply couldn’t be reconciled. I’m disappointed that we didn’t come to a mutual agreement. I have the utmost respect for the people and the firm and wish them the best.”
Still don’t know what the differences were about — sounds like firm economics — nor why Wender and John Castle had such different views of the aforementioned conversations (Castle said he had been “flexible” earlier today)…Continue
Today’s top private equity story is also its oddest: Justin Wender’s decision to resign as president of Castle Harlan. For the uninitiated, Wender was named president of Castle Harlan back in 2006, as firm co-founders Len Harlan and John Castle continued to transition into more patriarchal positions (both remain fulltime). He had been with the […]Continue