Industry specialization is only “weakly” correlated to performance in the lower middle market, according to a recent white paper from fund of funds RCP Advisors.
2 min read · 22 October 2014
Steton has received a "significant" investment from Toronto and Baltimore, Maryland-based private equity firm Access Holdings. Based in St. George, Utah, Steton is a provider of quality management and business intelligence software that delivers mobile and cloud-based applications to customers in food services, hospitality, retail and other industries. Update: The company said the partnership with Access Holdings is intended to support its continued growth and innovation.
2 min read · 22 October 2014
Apollo Global Management LLC plans to start raising between $2 billion and $3 billion for a second natural resources private equity fund, sources familiar with the situation told Reuters news service, in the latest sign that the firm is doubling down on the U.S. shale boom
4 min read · 22 October 2014
U.S. sponsors of buyout and growth equity funds responding to a survey earlier this year said they planned to add relatively few partners in 2014 but a healthy minority planned to add staff at the junior level.
2 min read · 22 October 2014
Sterigenics International LLC, a provider of contract sterilization services to the medical device and food industries, is exploring a sale that could value it at as much as $1.5 billion, including debt, people familiar with the matter told Reuters news service.
2 min read · 22 October 2014
Brice Holdings Inc has increased its investment stake in Canadian mid-market private equity firm Clairvest Group. According to the terms of the transaction, Brice bought 39,200 common shares in Clairvest at a price of $25 per share. The firm currently owns 61,700 common shares in Clairvest. Update: Brice is controlled by Kenneth Rotman, co-CEO and managing director of Clairvest.
2 min read · 22 October 2014
Royal Camp Services Ltd, a portfolio company of U.S. private equity firm Hammond, Kennedy, Whitney & Co (HKW), has bought Summit Catering Ltd, a provider of catering and camp services in remote locations throughout Canada. The financial terms of the acquisition were not released. With its headquarters in Edmonton, Alberta, Royal Camp is a specialist in workforce accommodations, catering and related services for clients in energy and mining industries in western Canada. A former portfolio company of Canadian private equity firm TriWest Capital Partners, it was sold to HKW in November 2011.
2 min read · 21 October 2014
Canadian mineral exploration company Excelsior Mining Corp (TSXV: MIN) has completed the second tranche of a US$10 million equity financing provided by U.K.-based private equity firm Greenstone Resources. As a result, Greenstone now holds approximately 28.2 percent of Excelsior's issued and outstanding common shares, and has seen its second nominee appointed to the company's board of directors. The Vancouver-based Excelsior is developing a copper project within the copper porphyry belt of Arizona.
6 min read · 21 October 2014
Ontario Teachers' Pension Plan has agreed to buy a minority stake in CSC ServiceWorks Inc, which is backed by Pamplona Capital Management. No financial terms were disclosed. The transaction, which will give Ontario Teachers a 29.7 percent stake in CSC, is expected to be completed in December. Morgan Stanley served as financial advisor to the company and Pamplona on the deal. CSC is a provider of multi-family housing and commercial laundry services, as well as air vending services. Update: The U.S.-based business was created in 2013 when Pamplona bought Coinmach Service Corp and AIR-serv Group LLC.
4 min read · 21 October 2014
The top two lawmakers on the Senate’s antitrust panel have urged regulators to scrutinize food distributor Sysco Corp’s planned purchase of rival U.S. Foods for $3.5 billion, according to Reuters news service.
2 min read · 20 October 2014
