Three private equity firms have agreed to pay $325 million to settle a U.S. lawsuit accusing them of colluding with rivals to keep prices down on corporate takeovers prior to the financial crisis by agreeing not to outbid each other.
3 min read · 07 August 2014
Capital Safety Group, a portfolio company of U.S. private equity firm Kohlberg Kravis Roberts & Co (KKR), has bought Calgary's Fall Protection Group Inc, a provider of height training and consultation services established in 1995. The financial terms of the deal were not released. Capital Safety, which designs and manufactures height safety and fall protection equipment, said the acquisition would provide global customers with a broader range of solutions. Based in Bloomington, Minnesota, Capital Safety was acquired by KRR in 2012 from its previous owner, Arle Capital Partners, for US$1.12 billion.
2 min read · 07 August 2014
Investors are readying offers for the Spanish assets of Germany's top utility E.ON, sources told Reuters, adding that the bids would value the portfolio at about US$2.7 billion. Parties expected to submit non-binding bids for assets include private equity firm CVC Capital Partners; a consortium consisting of Canada's Borealis Infrastructure and Portuguese utility EDP; as well as a group comprising private equity firm Riverstone and Swiss energy company Alpiq. KKR, Macquarie and Spain's Grupo Villar Mir also are expected to express an interest.
2 min read · 07 August 2014
Platinum Equity, which is looking to sell BWAY Corp, has already more than recouped its investment in the maker of aerosol cans.
2 min read · 06 August 2014
Consulting firm McKinsey & Co says that hedge funds, private equity funds and other alternative investments will command up to 40 percent of the asset management industry's global revenues by 2020 as investors seek them for safety and consistent returns, Reuters reported. Alternative assets hit a record high of US$7.2 trillion in 2013 and currently generate nearly 30 percent of the asset management industry's revenues.
2 min read · 06 August 2014
New Look Eyewear Inc (TSX: BCI) has agreed to acquire certain optical assets, stores and facilities of Optic Direct Inc, which operates under the brand Greiche & Scaff in Québec. The transaction, which is expected to be completed in October, reflects a purchase price of $17.75 million. Founded in 1976, Greiche & Scaff is a retailer of prescription eyewear. In 2003, the company was acquired in a control-stake deal by Canadian private equity firm Perseis Partners. A provider of eye care products and services, New Look has its headquarters in Québec City.
4 min read · 06 August 2014
Succession Capital, the U.S. subsidiary of Canadian private equity firm Lynx Equity, has acquired Wine Valley Siding Supply Inc. No financial terms were disclosed. Headquartered in Bothell, Washington, Wine Valley is a provider of siding products, trims, and accessories to builders, subcontractors, and homeowners. Update: The acquisition comes on the heels of Succession Capital's buy last month of H.J. Sherman Co Inc, a designer, manufacturer and distributor of religious gifts and jewelry.
2 min read · 06 August 2014
TNT Crane & Rigging Inc has agreed to buy the assets of Stampede Crane & Rigging and Eagle West Truck & Crane for an undisclosed amount. Stampede Crane & Rigging, a provider of crane rentals and rigging services, is based in Brooks, Alberta, while Eagle West Truck & Crane, a provider of mobile crane and tower crane rentals, services and operations, is based in Abbotsford, British Columbia. The deal, which is expected to close in September, will serve as a platform for TNT's future Canadian growth, the Houston, Texas-based company said. U.S. private equity firm First Reserve Corp bought TNT from Odyssey Investment Partners in 2013.
3 min read · 05 August 2014
Specialty lender Callidus Capital Corp (TSX: CBL), a portfolio company of Canadian private equity firm Catalyst Capital Group, has filed a prospectus with securities regulatory authorities across Canada to make offerings of its common shares. Filings by the Toronto-based company, which went public in April, will allow it and/or certain selling shareholders to make offerings up to an aggregate initial offering price of $600 million during a 25-month period. Unless otherwise specified, the net proceeds from share sales will be used for general working capital purposes and to finance additional loans in the Callidus loan portfolio.
3 min read · 05 August 2014
Hawaii beckons as a wonderful spot for a vacation, and an analysis of the state retirement system’s private equity program suggests it is also a good place to raise money. In recent years the state has been ramping up both its commitment pace and average commitment size.
4 min read · 05 August 2014
