TowerBrook to acquire J.Jill from Arcapita and Golden Gate Capital

TowerBrook Capital Partners LP has agreed to buy fashion retailer J.Jill. The sellers are Arcapita and Golden Gate Capital. No financial terms were disclosed. The transaction is expected to be completed in the second quarter of this year. Paula Bennett will continue as president and CEO of J.Jill. Morgan Stanley and Houlihan Lokey provided financial advice to J.Jill on the deal while Macquarie Group was financial advisor to TowerBrook Capital Partners.


peHUB First Read

First Read kicks off your week with news Intel is buying internet of things chip unit Lantiq from Golden Gate Capital, The Pirate Bay is back online and the New England Patriots are champs after the worst call in Super Bowl history.


Golden Gate Capital taps Parkinson as operative executive

Golden Gate Capital has named Jay Parkinson as an operating executive. In his new role, Parkinson will help expand the firm’s focus on the oil and gas sector. Previously, Parkinson worked at Nuverra Environmental Solutions where he served as an executive vice president and chief financial officer.


Golden Gate agrees to $1.2 bln acquisition of ANGUS Chemical

Golden Gate Capital has agreed to acquire ANGUS Chemical Company from The Dow Chemical Company for about $1.2 billion. ANGUS makes chemicals used to enhance products in industries like paints and coatings, life sciences, biopharmaceuticals, metalworking, personal care, water treatement and oil and gas. JPMorgan Securities is financial advisor for Golden Gate, and JPMorgan Securities, Morgan Stanley and Deutsche Bank are providing financing for the deal.

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peHUB Second Opinion

In Second Opinion, Ben & Jerry’s won’t rename its “Hazed & Confused” ice cream, Microsoft CEO Satya Nadella claims that men and women are paid equally at his company and Apple has sold a lot of iPhones.


Golden Gate Capital invests in Green Street

Golden Gate Capital has agreed to acquire a majority stake in Green Street Advisors. No financial terms were disclosed. Evercore advised Green Street on the transaction. Headquartered in Newport Beach, Calif., Green Street is a provider of research, analytics and advisory and consulting services for the commercial real estate sector.


Golden Gate agrees to buy Red Lobster for $2.1 bln

Golden Gate Capital has agreed to buy Red Lobster from Darden Restaurants for $2.1 billion in cash. Darden expects to receive net cash proceeds, after taxes and transaction costs, of about $1.6 billion, with about $1 billion to retire debt. The remaining $500 million to $600 million will be used for new share repurchases of up to $700 million in fiscal 2015.


Golden Gate Capital agrees to buy Phillips-Medisize Corp

Golden Gate Capital has agreed to acquire Phillips-Medisize Corp. from Kohlberg & Company. No financial terms were disclosed. Goldman Sachs advised Phillips-Medisize on the transaction while Robert W Baird advised Golden Gate Capital. Headquartered in Hudson, Wisconsin, Phillips-Medisize is a provider of design and manufacturing services to the pharmaceutical, medical device, diagnostic and specialty commercial sectors.

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