Levine Leichtman acquires Hand and Stone Franchise Corp

Levine Leichtman Capital Partners has acquired Hand and Stone Franchise Corp, partnering with management on the deal. Hand and Stone is a franchisor in the massage and facial spa industry with more than 200 locations in the U.S. and Canada. Hand and Stone is the fifth investment from Leichtman Capital Partners Fund V, LP.

ArcLight acquires petroleum storage company Pyramid

ArcLight Capital Partners’-backed Penn Products Terminals has acquired Pyramid, formerly Petroleum Products Corporation, a petroleum pipeline terminals and logistics business. Pyramid runs 12 refined products storage terminals in Pennsylvania totaling 9 million barrels of storage capacity. Pyramid stores gasoline, diesel fuel, heating oil, oil kerosene, ethanol and biodiesel.


Trinity Hunt Partners buys stake in America’s Auto Auction

Trinity Hunt Partners has acquired a majority stake in America’s Auto Auction, a wholesale automobile auction company. Trinity plans to partner with America’s Auto Auction CEO Ben Lange and CFO Dustin Miller to recapitalize the business. Trinity also has bought a minority stake in Auction Credit Enterprise, founded by America’s Auto Auction management team in 2006 to provide short-term, asset-backed inventory financing to dealers who buy auction vehicles.


Life at the top

If in five years the U.S. economy emerges from another downturn and we all look back to 2014/2015 as the height of the exuberance, at least we can say – this time – we saw it coming.

Developed market private equity, ex U.S., declined in Q3: Cambridge

Private equity declined in developed markets outside the U.S. for the first time after a series of strong quarterly returns, according to data from Cambridge Associates. Cambridge’s global developed markets private equity and venture capital ex U.S. index fell 5 percent in the third quarter. For the 12 month period ending Sept. 30, 2014, the index rose 10.9 percent.


Carlyle hires P&G executive Passerini

The Carlyle Group has hired Filippo Passerini, former group president of Global Business Services and chief information officer for Procter & Gamble, as an operating executive. Passerini will join Carlyle once he retires from P&G this summer. He will work with Carlyle investment professionals through the investment process and advise portfolio company executives on management and operational strategies.


BlackRock, First Reserve partner on Mexican natural gas pipeline deal

BlackRock and First Reserve have partnered with a subsidiary of Petroleos Mexicanos to buy about 45 percent of the equity interest in two natural gas pipelines — Los Ramones Phase II North and Los Ramones Phase II South. The pipelines are part of a project to build and operate natural gas pipelines to serve as energy infrastructure to transport natural gas from the Eagle Ford shale region in Texas to meet Mexican demand.

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