Long named Penhall Company CEO

Penhall Company, which is backed by Centerbridge Partners, said Monday that Jeff Long was named CEO. Long will succeed C. George Bush, who is retiring from active leadership of the company and will transition to serving as a senior advisor. Long was most recently Senior Managing Director at Centerbridge Partners.

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Centerbridge closes $1.2 bln buy of IPC

Centerbridge Partners LP has completed its $1.2 billion buy of IPC Systems from Silver Lake Partners. The deal was announced in December. Jersey City, N.J.-based IPC provides network services and trading communication technology for the financial markets. Evercore and Goldman, Sachs & Co. advised IPC, while Barclays and Credit Suisse Securities provided financial advice to Centerbridge.

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Centerbridge completes IPC acquisition

Centerbridge Partners has closed its previously announced buy of IPC Systems, a Jersey City, New Jersey-based provider of network services and trading communication technology for the financial markets. No financial terms were disclosed although previous reports said the price of the transaction would be about $1.2 billion. The seller was Silver Lake Partners. Evercore and Goldman Sachs advised IPC while Barclays and Credit Suisse Securities (USA) LLC advised Centerbridge.

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Centerbridge recaps Boart Longyear

Centerbridge Partners has completed a recapitalization of Boart Longyear Limited, a Salt Lake City-based provider of of drilling services, drilling equipment and performance tooling. No financial terms were disclosed.

PE-backed Cardinal Logistics appoints White as executive chair

Cardinal Logistics Management Corp, which is backed by Centerbridge Partners, has named Tom White as executive chairman. Previously, White worked in senior management at a number of companies that include CEVA Logistics and Hub Group Inc. Cardinal Logistics provides transportation and third-party logistics services.

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Centerbridge to buy IPC Systems for $1.2 bln

Centerbridge Partners has agreed to buy IPC Systems for about $1.2 billion. Silver Lake Partners is the seller. The deal is expected to close in January 2015. Jersey City, N.J.-based IPC provides network services and trading communication technology for the financial markets. Evercore and The Goldman, Sachs & Co. advised IPC. Barclays and Credit Suisse Securities provided financial advice to Centerbridge.

PE-backed Penhall hires new regional VP of Pacific Northwest

Penhall, which is backed by Centerbridge Partners, has named Sean Butler as its regional vice president for the Pacific Northwest. Previously, Butler worked at Hertz Equipment Leasing where he served as division vice president of Northeast operations. Based in Anaheim, Calif., Penhall is a provider of concrete cutting, coring, breaking and related concrete construction solutions.

RBS strikes pre-IPO deal for Williams & Glyn’s

The Royal Bank of Scotland Group has agreed a pre-IPO investment in its Williams & Glyn‘s bank brand with a consortium of investors led by global financial services specialists Corsair Capital and Centerbridge Partners. The Williams & Glyn’s business comprises 308 RBS branded branches in England and Wales; 6 NatWest branded branches in Scotland; the retail and SME accounts attached to these branches; the direct SME business and certain Mid-Corporate customers across the UK.

Billabong signs refinancing deal – reuters

Australia’s Billabong International accepted a sweetened refinancing proposal from hedge funds Oaktree Capital Management and Centerbridge Partners, and appointed an industry veteran as its new chief executive, writes Reuters. The moves could help the surfwear company turn around its performance, which has been hit by slumping sales of its key brands and a costly expansion strategy since it knocked back a A$850 million ($794.71 million) private equity bid last year.

AZZ Buys Aquilex SRO for $250 Mln

AZZ Inc. has acquired Aquilex Specialty Repair & Overhaul, a unit of Aquilex Holding, for $250 million. The transaction closed April 1. Aquilex SRO is majority owned by Centerbridge Partners. Norcross, Ga.-based Aquilex SRO provides maintenance, repair, and overhaul services to the nuclear, fossil power, refining, chemical processing, pulp and paper, and waste-to-energy industries. Houlihan Lokey advised Aquilex SRO.

Reuters – Centerbridge Eyes RBS Branches

U.S. private equity firm Centerbridge Partners is interested in the 315 UK branches being sold by state-backed Royal Bank of Scotland, writes Reuters. Sky News, which first reported the interest, said Centerbridge had joined forces with another buyout firm – Corsair Capital – in recent weeks, but that it was unclear whether the duo would make a formal offer for the branch network, writes Reuters.

Centerbridge Buys Cardinal Logistics Management

Centerbridge Partners has closed its buy of Cardinal Logistics Management. Financial terms weren’t announced. Concord, N.C.-based Cardinal provides dedicated transportation services, including specialized equipment and handling, and integrated technology. PRESS RELEASE Cardinal Logistics Management Inc. (“Cardinal” or the “Company”), a national provider of Dedicated and Delivery domestic transportation services, today announced the acquisition of Cardinal […]

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