Hercules Technology Growth Capital said Friday that it has added Paul Enderle, Chad Norman and Brad Pritchard as managing directors. Enderle joins the technology and lower middle market group in Hercules' Boston office. Norman joins in Palo Alto, Calif., as a managing director in the life sciences group. Pritchard joins the cleantech group and will also be based in Palo Alto.
3 min read · 03 June 2011
Mandarin Capital Partners is pouring 40 million euro ($57.9 million) into Italian textile group Miroglio, Reuters reported. The deal comes as part of a more than $700 million fashion sector investment by the Chinese-European private equity firm, Reuters wrote.
1 min read · 03 June 2011
Tuffieh Private Equity Fund will buy an 85% stake in Czech logistics firm CS Cargo, Reuters reported Friday. Financil terms of the deal were not released. CS Cardo hired JP Morgan last year to prepare it for a potential IPO.
1 min read · 03 June 2011
Private equity firm Symphony Technology Group has wrapped up its $165 million acquisition of Shopzilla. The deal included $150 million in cash, and $15 million in deferred payments. Wells Fargo Capital Finance and Tennenbaum Capital Partners provided debt financing for the deal. Shopzilla’s online shopping brands include Bizrate, Beso and TaDa. Symphony bought Shopzilla from Scripps Networks Interactive. The deal was first announced in April.
3 min read · 03 June 2011
Navigation system maker Garmin is in talks to buy smaller, German rival Navigon for roughly 50 million euro ($72 million), Reuters reported, citing a story in the Financial Times Deutschland. Buyout shop General Atlantic Partners owns 90% of Navigon.
1 min read · 03 June 2011
After regulatory hurdles and delays nearly squashed the $4.3 billion deal for Korea Exchange Bank, South Korea's Hana Financial Group and buyout shop Lone Star have reportedly managed to extend the deal for six months, Reuters reported, citing the Seoul Economic Daily. The paper wrote that Hana would acquire a less than 10% stake in KEB as a means to ensure its commitment to the deal. Lone Star bought KEB in 2003 for $1.2 billion.
2 min read · 03 June 2011
Molson Coors Brewing Co. and Mexico's Grupo Modelo may make a joint bid for Australian brewer Foster’s Group, according to a report from Reuters. Bank of America and Deutsche Bank are reportedly helping Molson and Modelo devise financing for a possible offer. Foster’s has been the subject of buyout speculation since it revealed plans to spin-off its struggling wine business last year.
5 min read · 03 June 2011
EQT has sold Cimbria to private equity fund Axcel, exiting the company, a maker of equipment for handling and processing of grain and seed, four years after it bought it. Financial terms of the deal were not released. The acquisition is expected to close in August. EQT Opportunity took a majority stake in Cimbria in 2007.
2 min read · 03 June 2011
Wellesley, Mass.-based Trillium Capital said Thursday that it had submitted a proposal to buy Stream Global Services Inc. The firm offered $4.65 per share in cash, plus assumption or replacement of its $200 million high yield bonds due 2014, the firm said in a written release. Stream Global provides business process outsourcing services. Kaufman Bros. is Trillium’s financial advisor on the deal.
6 min read · 02 June 2011
Jones Group Inc. has acquired UK-based luxury shoe retailer Kurt Geiger from buyout shop Graphite Capital, Reuters reported Thursday. The deal is valued at about $350 million, including assumption of debt, Reuters said.
1 min read · 02 June 2011
