At least six major private equity groups are competing to buy the industrial packaging segment of Illinois Tool Works Inc, in a deal that could fetch more than $3 billion, according to people familiar with the matter, sister news service Reuters reported.
2 min read · 26 November 2013
Penfund, a Toronto-based provider of junior capital to mid-market companies, has extended a US$60 million second lien loan to Caliber Collision Centers Inc, a Lewisville, Texas-based operator of non-franchised collision repair service facilities in the United States. The announcement came on the heels of last week's acquisition of Caliber by OMERS Private Equity for an estimated US$425 million. The company was bought by OMERS from ONCAP, which had owned Caliber since leading its management buyout in 2008. Penfund at the time of the management buyout invested US$34 million in the business.
3 min read · 26 November 2013
Tomkins Plc is exploring a sale that could value the private equity-owned global manufacturer of auto parts and building products at as much as $7 billion, several people familiar with the matter told Reuters. Onex Corp (OCX.TO) and the Canada Pension Plan Investment Board (CPPIB), which acquired Tomkins in 2010 for $5 billion, including the assumption of debt, are interviewing investment banks to advise them on a sale of the company, the people said. Tomkin's owners may seek to exit the company outright through a sale to another party or float it in the stock market, the people said. A process to explore both possibilities is expected to start in the first quarter of 2014, they added.
2 min read · 25 November 2013
Montréal-based Mechtronix Inc, a manufacturer of pilot training equipment, including flight simulators, full flight trainers and flight training devices, has been bought by Textron Inc (NYSE: TXT). The company was acquired along with OPINICUS Corp, and will be combined with Textron's training and simulation operations, which serve the military aircraft market through its facilities in Goose Creek, South Carolina. While the acquisition price was not disclosed, one source pegged it at about US$125 million for both businesses. Mechtronix is a portfolio investment of Canadian private equity firm Richardson Capital. Richardson invested $39 million in the company in Sept. 2008.
3 min read · 25 November 2013
Private equity firm Silver Lake is proceeding with an auction for its information technology management company Serena Software Inc after talks aimed at selling Serena to its technology peer Attachmate Corp ended, according to people familiar with the matter, sister news service Reuters reported.
2 min read · 25 November 2013
1 min read · 25 November 2013
Alcatel-Lucent SA is exploring the sale of a division that sells switches and communications gear to corporate clients, part of the French company’s efforts to shed 1 billion euros worth of assets by 2015, according to people familiar with the matter, sister news service Reuters reported.
3 min read · 25 November 2013
2 min read · 25 November 2013
4 min read · 25 November 2013
2 min read · 25 November 2013
