Australian fast-food group Collins Foods, which is owned by Pacific Equity Partners, has priced its initial public offering at the bottom of a planned range, raising $215.2 million. The company will offer 80.7 million shares for $2.66 per share, Reuters reported. Collins Foods operates Australia’s largest KFC franchise, and owns 85 Sizzler restaurants.
2 min read · 15 July 2011
Advent International has sold its remaining 10% stake in Cetip, Latin America’s largest depositary of private fixed-income securities and Brazil’s largest private asset clearinghouse. The firm is selling its stake to publicly traded IntercontinentalExchange, which will purchase 12.4% of Cetip’s shares from Advent and other shareholders. IntercontinentalExchange will pay $512 million in cash for the stake.
3 min read · 15 July 2011
Caltius Equity Partners has added Justin Benshoof as an associate with the firm. Benshoof was previously an analyst with Norwest Equity Partners where he focused on management buyouts, recapitalizations and growth investments across a range of industries. Caltius Equity Partners is based in Los Angeles and invests in consumer and business services, education, healthcare services and light manufacturing industries.
1 min read · 15 July 2011
Boathouse Capital, a firm based in suburban Philadelphia, has closed on $120 million for its new debt fund, which will focus on mezzanine debt and equity in lower middle market companies. The firm will invest between $2 million and $12 million into companies with a minimum of $2 million EBITDA.
3 min read · 15 July 2011
The former head of investment banking at Singapore’s United Overseas Bank, Tay Tong Poh, has joined Affinity Equity Partners as head of portfolio management, Reuters reported Friday. He joined the private equity firm this week, Reuters said.
1 min read · 15 July 2011
Buyout shop Affinity Equity Partners has submitted a final bid for Australian meat products firm Primo Smallgoods, Reuters reported Friday. Primo Smallgoods could reportedly fetch as much as $1 billion, and Affinity has arranged about $622 million in financing from 11 banks, Reuters reported.
2 min read · 15 July 2011
Billionaire Carl Icahn has offered $10.2 billion to buy Clorox Co., Reuters reported. At $76.50 per share, the offer represents an 11% premium to the company’s closing price Thursday. Icahn bought a stake in the company in February, and said he owns 9.4% of its outstanding stock. Icahn also said he had arranged for $7.8 billion in financing for the deal through Jefferies & Co., Reuters wrote.
1 min read · 15 July 2011
BMO Harris Bank has hired Alex Geier as a managing director, leading a team focused on providing senior financing to private equity investors in the healthcare space. Geier was previously at UBS Investment Bank, where he served as a managing director of leveraged finance.
2 min read · 14 July 2011
New York-based American Securities Opportunities Fund has closed its second fund with more than $753 million of committed capital, the firm announced Thursday. The fund focuses on investments in public or private companies in distress, or trading at distressed levels.
3 min read · 14 July 2011
Charlotte, N.C.-based buyout shop Ridgemont Equity Partners bought a majority stake in Aurora Parts & Accessories, a distributor of aftermarket and replacement semi-trailer parts and accessories. Financial terms of the deal were not released. Aurora is based near Indianapolis. NXT Capital, DE Shaw Direct Capital Portfolios and BB&T Capital Partners Mezzanine Fund II provided financing for the deal.
2 min read · 14 July 2011
