Sun Hung Kai & Co., which is backed by CVC Capital Partners, is mulling a sale of its SHK Financial unit, a brokerage and wealth management business, Reuters reported. No details were released, though Reuters reported that the company had held “informal discussions” with potential buyers. CVC agreed last year to buy up to 19% of Sun Hung Kai, paying about $275 million.
2 min read · 26 July 2011
Intelligence, a Japanese staffing company owned by Kohlberg Kravis Roberts & Co., has acquired Hong Kong-based Staff Management Consultancy Ltd., Reuters reported. KKR acquired Intelligence in 2010. Terms were not released.
1 min read · 26 July 2011
Apax Partners has acquired the buffet-style Golden Jaguar restaurant chain, based in Shanghai, China. Located in eight cities across China, the restaurants are giant – roughly the size of a football field – and are often the anchor store for large shopping malls. Terms of the deal were not released. Credit Suisse advised Apax on the transaction.
3 min read · 26 July 2011
Lazard Ltd. has named Gary Howe to the post of managing director and head of Financial Institutions Group advisory, North America. Previously, Howe was co-head of FIG Americas at UBS.
2 min read · 25 July 2011
Investcorp has put $125 million into Los Angeles-based TelePacific Communications, a company that provides integrated communications services. The investment is designed to help TelePacific expand its network infrastructure and service area to new cities, as well as continue its development of web-enabled products, the company said.
4 min read · 25 July 2011
Germany’s Lanxess has ended talks with private equity firm CVC, after the two could not agree on a price for the firm’s portfolio company Taminco, Reuters reported, citing news in the Financial Times. Lanxess had reportedly bid roughly $1.43 billion for Taminco, a chemical maker.
1 min read · 25 July 2011
San Francisco-based private equity firm Gryphon Investors has completed the sale of its portfolio company Accelerated Rehabilitation Centers. OMERS Private Equity acquired the Chicago-based company, which provides outpatient physical therapy services. Terms of the deal were not released.
3 min read · 25 July 2011
Buyout shop Advent International will invest an undisclosed amount in chicken-and-biscuits chain Bojangles’, the firm said Monday. The money will support growth. Bojangles was formed in 1977 and is based in Charlotte, N.C. The company operates about 500 restaurants, and plans to open 40 new locations this year. Terms of the Advent investment were not releaed. As part of the transaction, Falfurrias Capital Partners has agreed to sell its entire investment in Bojangles' to Advent.
4 min read · 25 July 2011
Ceres Inc., an agricultural biotech company backed by Warburg Pincus and Monsanto Co., has added two new underwriters to its $100 million initial public offering. Raymond James and Simmons & Company International join existing underwriters, Reuters reported. The company is based in Boston California.
1 min read · 25 July 2011
China International Capital Corp., which is partly owned by U.S. private equity firms TPG Capital and Kohlberg Kravis Roberts & Co., will become the countries first investment bank to manage a trust company, Reuters reported, citing an article in the Financial Times. CICC will buy a 35% stake in Zheshang Trust, and will have primary responsibility for management.
1 min read · 25 July 2011
