168 Views

H.I.G. Capital completes The Newark Group add-on

H.I.G. Capital-backed Caraustar Industries, Inc., has completed the acquisition of The Newark Group Inc., which makes recycled paperboard, linerboard, industrial tubes, cores and other converted products. Financing for the deal was provided by Credit Suisse Securities (USA) LLC, Jefferies LLC, Wells Fargo Capital Finance and Regions Business Capital.

162 Views

Lone Star Funds to buy hotel chain Jurys Inn

Lone Star Funds has agreed to acquire hotel brand Jurys Inn for a total consideration of 680 million pounds. The sellers are Oman Investment Fund, Mount Kellett Capital Management, Ulster Bank (part of the Royal Bank of Scotland), Westmont Hospitality Group and Avestus Capital Partners. The transaction is expected to close in the first quarter of this year. Credit Suisse and Eastdil Secured advised both Lone Star and the sellers.

113 Views

Intervale Capital promotes three

Intervale Capital has promoted Jason Turowsky to principal, Phil Wilson to vice president and Kendal Reed to senior associate. The three are involved in deal sourcing, execution and portfolio company oversight. Turowsky joined Intervale in 2013 as a vice president from Falconhead Capital. Wilson joined in 2011 from Credit Suisse’s Global Industrials and Financial Institutions Group. Reed joined in 2012 from Piper Jaffray’s Clean Technology & Industrials Group.

113 Views

American Securities-backed MPG rolls out IPO

Metaldyne Performance Group, which is owned by American Securities, has raised $150 million for its IPO after pricing its 10 million shares at $15 per share. The stock began trading Friday on the NYSE under the ticker symbol “MPG.” BofA Merrill Lynch, Goldman Sachs, Deutsche Bank Securities, Barclays Capital, Credit Suisse Securities (USA) and RBC Capital Markets are the lead underwriters. Headquartered in Plymouth, Michigan, MPG is a provider of powertrain components.

195 Views

WL Ross beefs up staff with two additions

Invesco‘s distressed investment arm WL Ross & Co.,has expanded its team with two new hires, according to a spokesperson for the firm. Su Yeo has joined as a principal on the company’s investment team and Eric London has become a senior director on the investor relations team. Previously, Yeo worked at Morgan Stanley Principal Investments while London was a principal in Credit Suisse‘s customized fund investment group. Both are based in New York.

TierPoint completes Xand acquisition from ABRY Partners

TierPoint has closed its previously announced buy of Xand from ABRY Partners. No financial terms were disclosed. DH Capital was financial advisor to ABRY and Xand while RBC Capital Markets and Credit Suisse will provide debt financing for the transaction. Headquartered in St. Louis, Missouri, Xand provides colocation, cloud, disaster recovery and managed services with six data centers in New York, Pennsylvania, Connecticut, and Massachusetts.

203 Views

VC-backed LendingClub sets IPO pricing terms

According to an SEC filing, LendingClub Corp. has priced 57.7 million shares of its IPO at between $10 and $12 a share. The stock will trade on the NYSE under the ticker symbol “LC.” Morgan Stanley, Goldman Sachs, Credit Suisse and Citigroup are the lead underwriters. Based in San Francisco, LendingClub is a peer-to-peer lending marketplace. Its backers include Norwest Venture Partners, Canaan Partners, Foundation Capital, KPCB and Morgenthaler Venture Partners.

 

clydesdale
401 Views

peHUB Second Opinion

In Second Opinion, former Tinder execs are launching a competitor called Bumble, interns who code will be making bucks this summer and Americans now buy more craft beer than Budweiser.

226 Views

Cott Corp to buy DSS Group for $1.25 bln

Cott Corp. has agreed to buy DSS Group, parent company of DS Services, which is backed by Crestview Partners. The price of the transaction is about $1.25 billion. Credit Suisse provided financial advice to Cott on the deal while Barclays was financial advisor to DSS. Headquartered in Atlanta, DS Services is a provider of bottled water, office coffee and water filtration services. The deal is expected to close by the end of January 2015.

193 Views

Veritas Capital to sell CRGT to Bridge Growth

Bridge Growth Partners has agreed to buy CRGT from Veritas Capital. No financial terms were disclosed for the deal, which is expected to close by the end of the year. Wells Fargo and Stifel Nicolaus provided financial advice to CRGT on the transaction while Credit Suisse advised Bridge Growth. Also, Kevin Parker of Bridge Growth will become the chairman of CRGT’s board of directors. Based in Reston, Virginia, CRGT is a provider of custom software development and data analytics to federal government agencies.

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