Warburg Pincus has reduced its stake in British discount retailer Poundland from 30.4 percent to 16.4 percent, it said on Wednesday, raising about 142 million pounds ($216 million) through a share placing, Reuters reported.
1 min read · 11 February 2015
Electra Private Equity, one of Britain’s oldest private equity firms, said it planned to return 3 percent of its annual net asset value (NAV) to investors through a cash dividend or share buybacks, Reuters reported.
1 min read · 11 February 2015
Carlyle Group LP reported a 68 percent year-on-year drop in fourth-quarter profit, as the appreciation of its portfolio slowed down, yet the decline was smaller than most analysts expected due to strong cash proceeds from asset sales, Reuters reported.
2 min read · 11 February 2015
Evercore has appointed David Andrews as a senior managing director in the advisory boutique’s energy group, working out of the firm’s Houston office, Reuters reported.
1 min read · 11 February 2015
Sycamore Partners is in talks to buy apparel retailer Chico’s FAS Inc and is trying to secure debt financing for a deal that could reach $3 billion, two people familiar with the matter told Reuters.
1 min read · 10 February 2015
Enterprise software provider Saba Software Inc, whose chief executive and other executives recently settled charges of accounting fraud, said private equity firm Vector Capital would take it private for about $268 million in cash, Reuters reported.
1 min read · 10 February 2015
A specialty finance company formed last year by Credit Suisse’s asset management business has converted to a Maryland corporation and changed its name to Credit Suisse Park View BDC Inc, according to a Feb. 5 amended registration statement filed with the SEC, Reuters reported.
2 min read · 10 February 2015
Deep-discount retailer Ollie’s Bargain Outlet, known for the signature catch phrase “good stuff cheap,” is preparing for an initial public offering, according to people familiar with the matter, Reuters reported.
1 min read · 10 February 2015
Bailey International LLC, a portfolio company of U.S. private equity firm Pfingsten Partners, has bought Sure Grip Controls Inc. No financial terms were disclosed for the deal. Based in Saanichton, British Columbia, Sure Grip is a maker of joysticks, control grips and controllers for use on forestry, construction and other mobile hydraulic equipment. Update: Based in Chicago, Bailey is a manufacturer and distributer of fluid power components. Its acquisition of Sure Grip is the first since the company was bought by Pfingsten Partners in April 2012.
2 min read · 10 February 2015
Adnan Ahmed has been named the president and CEO of Marketwired Inc, a provider of news distribution services based in Toronto. The appointment follows the recent separation of social intelligence platform Sysomos from Marketwired. Ahmed joined the company in 2013 as chief strategy officer and general manager. In his new role, he will oversee its focus on core customers and products. Both Marketwired and Sysomos are portfolio companies of OMERS Private Equity, an investment arm of the Ontario Municipal Employees Retirement System.
4 min read · 10 February 2015
