Baring Private Equity Asia announced Tuesday that it had acquired the tertiary education business of Singapore's PSB Academy, Reuters reported. The sale price was not disclosed. Baring has poured more than $400 million into education investments recently.
1 min read · 07 June 2011
Signature Styles, owner of catalog and internet retail sites including Spiegel, has filed for Chapter 11 bankruptcy protection, Reuters reported. Signature Styles was formed in June 2009 by investment firm Patriarch Partners LLC to acquire Spiegel Brands from Dymus Funding Co. The deal was worth $21.7 million, Reuters wrote. In the bankruptcy filing, the company listed assets in the $10 million-$50 million range, and debts in the $50 million to $100 million range.
1 min read · 07 June 2011
Monroe Capital is providing a $23 million facility for the O'Gara Group, a Cincinnati, Ohio-based seller of security, safety and defense products and services. The money will help O’Gara refinance its existing debt and provide working capital. Monroe Capital provides senior and junior debt and equity co-investments to middle-market companies in the US and Canada.
2 min read · 07 June 2011
Australian mining-focused buyout firm Pacific Road Capital Management is planning to raise $500 million for its second fund. The firm will begin fundraising in the next few months, Reuters reported. The firm has invested in roughly 11 mining companies via its $320 million Resources Fund 1.
2 min read · 07 June 2011
Media agency network Dentsu has acquired digital marketing services company Steak Group from Farmington Hills, Michigan.-based investment firm Beringea. Terms of the acquisition were not disclosed. Beringea invested in Steak through its London office in 2007 and 2010, the firm said in a written release.
3 min read · 06 June 2011
The Comvest Group, via its Comvest Capital II debt fund, said that is has provided a $20 million in a subordinated term loan to Multi-bank Securities Inc. Multi-bank is an institutional fixed-income securities broker-dealer.
2 min read · 06 June 2011
Backed by private equity firm American Securities, Nashville-based SpecialtyCare has completed its acquisition of Advanced Perfusion Care Inc., a provider of cardiovascular perfusion and autotransfusion services. Terms of the deal were not disclosed. SpecialtyCare provides clinical services to hospitals. Advanced Perfusion Care is based in Pinehurst, North Carolina.
2 min read · 06 June 2011
Canada’s Intertainment Media Inc. is buying Groupon-like daily deals website DealFrenzy.com. The deal includes payments of $500,000 in cash and $200,000 in Intertainment common stock, the company said. The deal is expected to close by late June.
5 min read · 06 June 2011
Buyout firm Terra Firma has hired the former head of private equity for Citigroup, Kamal Tabet, as its new head of investor relations, Reuters reported. Tabet spent 14 years at Citigroup and was global head of the financial entrepreneurs group until January 2009, Reuters wrote.
2 min read · 06 June 2011
Private equity investor American Securities has added David Musicant as a senior director, the firm said. Previously, Musicant worked for BofA/Merrill Lynch, where he was a managing director and launched the bank’s middle market financial sponsor coverage effort. American Securities is based in New York.
1 min read · 06 June 2011
