South Korea's Hana Financial Group agreed to cut the acquisition price for a controlling stake in Korea Exchange Bank from U.S. fund Lone Star by 6% to $4.1 billion, Reuters reported. The two parties also extended the deadline for the KEB deal to the end of November.
1 min read · 08 July 2011
The Carlyle Group is in talks to buy energy-focused buyout shop Energy Capital Partners, according to the New York Times. Short Hills, New Jersey-based Energy Capital Partners has raised about $7 billion in equity funds. Carlyle has roughly $106.7 billion under management.
1 min read · 08 July 2011
Bell and Howell, a portfolio company of Versa Capital Management, has sealed a $55 million credit facility, including a $20 million term loan from Crystal Financial. The money will help support the growth and working capital needs, the company said Thursday. Based in Wheeling, Illinois, Bell and Howell develops production mail equipment and software technologies.
2 min read · 07 July 2011
Thomas H. Lee Partners and has completed its acquisition of Sword Insurance. Dowling Capital Partners I L.P. was a co-investor in the transaction. Sword Insurance, a provider of software and services to the property and casualty insurance industry, was previously part of French-owned Sword Group. Terms were not disclosed.
2 min read · 07 July 2011
The Jordan Company, through its Resolute Fund II, L.P., has completed its acquisition of Pro Mach Inc. from Odyssey Investment Partners. Financial terms of the deal were not released. Pro Mach provides packaging machinery products and services to multinational clients in the food, beverage, household goods and pharmaceutical industries.
4 min read · 07 July 2011
Madison, Wis.-based Conney Safety Products, which is owned by CI Capital Partners, has acquired Mettam Safety Supply Company of Danville, Illinois. Terms of the deal were not released. The acquisition is part of Conney’s strategy to expand its business as a specialty distributor of safety supplies and equipment. CI Capital Partners is a private equity firm based in New York.
3 min read · 07 July 2011
One Equity Partners, a private investment arm of JPMorgan Chase & Co., is paying $470 million to buy customer care and business process outsourcing services provider APAC Customer Services Inc., Reuters reported. One Equity, which manages more than $10.5 billion, plans to combine APAC with outsourcing services provider and One Equity portfolio company NCO Group, Reuters wrote.
1 min read · 07 July 2011
Permira is the frontrunner to buy a collection of businesses put up for sale by telecom gear maker Alcatel-Lucent, Reuters reported Wednesday, citing sources familiar with the deal. The businesses up for sale include Genesys, which sells software for the operation of call centers and video conferencing. Permira is reportedly offering around $1.3 billion for the businesses, Reuters reported, adding that the deal process will likely last another month.
3 min read · 07 July 2011
Private equity fund Capital International has put 3.3 billion rupees ($75 million) into a unit of Indian engineering conglomerate Larsen & Toubro, ahead of the unit’s initial public offering, Reuters reported. L&T Finance Holdings filed in March for an IPO of up to 17.5 billion rupees ($392 million). Of that, it planned to raise 4 billion rupees through a pre-IPO placement.
2 min read · 07 July 2011
Ken Elefant has joined Intel Capital as an investment director. Elefant joins from Opus Capital where he was a founding general partner. In his new role, Elefant will focus on software investments in security, compliance, big data and software-as-a-service. Before forming Opus Capital, Elefant was a senior associate at Lightspeed Venture Partners.
1 min read · 07 July 2011
