Comcast Corp on Monday named Carlyle Group LP Co-President Michael Cavanagh as chief financial officer, bringing on a prominent dealmaker after its failed attempt to acquire Time Warner Cable Inc, Reuters reported.
2 min read · 12 May 2015
Apollo Global Management LLC is in talks to buy ASG Security and combine it with another home security company it is acquiring, Protection 1, valuing them collectively at about $2 billion, people familiar with the matter told Reuters Monday.
2 min read · 11 May 2015
Blackstone Group cut its stake early Monday in Hilton Worldwide to below 50 percent in a $2.69 billion stock sale, the largest ever selldown by a private equity sponsor through a block trade, Reuters reported.
2 min read · 11 May 2015
Canadian mid-market private equity firm Clairvest Group has agreed to buy additional shares in Discovery Air Inc (TSX: DA), a specialty aviation and logistics company headquartered in Etobicoke, Ontario. As a result of the proposed acquisition, Clairvest may increase its interest in the business from about 75.5 percent of issued and outstanding common shares at present to as much as 82.7 percent. Discovery Air, which operates over 160 aircraft and provides airborne training to international military groups and other customers, received a $70 million investment from Clairvest in 2011.
3 min read · 11 May 2015
A lawyer for New York private equity executive Lynn Tilton urged a U.S. judge on Monday to block the U.S. Securities and Exchange Commission from trying her before an administrative judge for defrauding investors, Reuters reported.
2 min read · 11 May 2015
Funds affiliated with U.S. distressed investor Avenue Capital Group have acquired about 12.9 million common shares and about US$19.5 million principal amount of second lien convertible notes of Connacher Oil and Gas Ltd, a Calgary energy company active in the production and sale of bitumen. The deal is linked with Connacher's restructuring and recapitalization plan, which exchanges about $1 billion of company debt for shares, among other measures. As a result of its acquisition of common shares, Avenue is expected to own 45.8 percent of total shares outstanding.
3 min read · 11 May 2015
DTZ, which was acquired in 2014 by an investor group that included TPG Capital, PAG Asia Capital and Ontario Teachers’ Pension Plan, has agreed to buy Cushman & Wakefield, a U.S. commercial real estate services group. The deal, which Reuters reported is valued at about US$2 billion, will create one of the world's largest real estate services platforms operating under the Cushman & Wakefield brand, the companies said. The seller in the transaction is Exor SpA, an Italian family-owned investment firm. DTZ's backers have committed to investing in the merged entity, which will have revenues of over US$5.5 billion and will manage more than 4 billion square feet on behalf of clients.
6 min read · 11 May 2015
The Salford Group Inc, a portfolio company of U.S. private equity firm GenNx360 Capital Partners, has acquired Valmar Airflo Inc. The financial details of the transaction were not published. Headquartered in Elie, Manitoba, Valmar is a manufacturer of seeding and granular application equipment for the agricultural sector. Update: Salford, a Canadian manufacturer of primary tillage, secondary tillage, seeding and fertilizer application equipment, said the deal will help expand its product line. The add-on acquisition is Salford's second since it was bought by GenNx360 in 2013.
3 min read · 11 May 2015
David Grim, a 20-year veteran at the U.S. Securities and Exchange Commission, was tapped on Friday to serve as the head of the unit tasked with regulated asset managers, the agency said.
2 min read · 08 May 2015
Australian mining private equity firm Pacific Road Capital has agreed to acquire common shares, warrants and debt in Luna Gold Corp (TSX: LGC), a Vancouver-based gold production and exploration company focused on projects in Brazil. Pacific Road has committed to provide $20 million in debt and $10 million in equity to the business. Luna said that with a restructured gold stream and recapitalized balance sheet, it will be able to undertake a work program to restart operations at its Aurizona gold mine, which is located in the Brazilan state of Maranhão.
10 min read · 08 May 2015
