Artel Inc., a provider of in information technology and managed communications network services, said Thursday that it had inked an equity investment from Torch Hill Investment Partners and TPG Growth – the middle market and growth capital platform of TPG Capital. Terms of the deal were not disclosed. Artel provides secure, high-reliability satellite and terrestrial communications solutions to government and commercial customers.
4 min read · 02 June 2011
Florida lender BankUnited, which is owned by private equity investors including Blackstone Group, Carlyle Group and Centerbridge Partners, said Thursday that it would buy Herald National Bank for about $72 million in cash and stock to move into the New York market, Reuters reported. BankUnited will pay about $22.9 million in cash and issue about 1.7 million shares to purchase Herald National, Reuters wrote.
1 min read · 02 June 2011
The Canada Pension Plan Investment Board paid $482 million for a 50% stake in a shopping mall near Melbourne, Reuters reported Thursday. The Canada Pension Plan will partner with Australia's Colonial First State Retail Property Trust, which owns the remaining 50% stake, to manage the center. This is the third such deal for CPPIB in recent weeks. In mid-May, the board said that it paid $386 million for a 50% stake in a German shopping and leisure center. At the same time, it bought 36.9% of Mayflower partnership, which owns a portfolio of 13 regional malls located in the United States.
2 min read · 02 June 2011
New Mountain Capital has completed its majority investment in SymphonyIRI Group Inc., the company announced Thursday. Terms of the investment were not released. SymphonyIRI Group, formerly named Information Resources, provides software for market measurement and software and services designed to provide growth opportunities in marketing, sales, shopper marketing and category management. Jefferies & Company and BofA Merrill Lynch acted as financial advisors to SymphonyIRI.
4 min read · 02 June 2011
PineBridge Investments has sold its minority stake in Central European transportation and logistics company Waberer's Group. Terms of the deal were not released. PineBridge manages $81 billion in assets for institutional and individual clients across listed equity, fixed income, private equity and hedge fund strategies.
2 min read · 02 June 2011
North Cove Partners said Thursday that it has spun off from Bank of America to create an independent private equity firm. North Cove will continue to manage over $6 billion of private equity investments on behalf of Bank of America and other investors, the firm said, adding that it would raise a new fund in the “near future.” Managing Partners Chris Birosak, Brian Gorczynski and Angel Morales lead the New York-based firm. Each were managing directors of Merrill Lynch Global Private Equity, and, after the Merrill Lynch, Bank of America merger, for BAML Capital Partners.
2 min read · 02 June 2011
Simulmedia, provider of a targeted television advertising platform and network, has added Wenda Harris Millard, president of Media Link, to its board of directors. Millard joined Media Link in 2009 from Martha Stewart Living Omnimedia, where she had been Co-CEO and President, Media. Simulmedia is backed by Avalon Ventures, Union Square Ventures and Time Warner Investments.
3 min read · 02 June 2011
Syncapse Corp., a provider of social media management technology aimed at the enterprise, has added five to its executive team. The news comes on the heels of a $25 million Series A funding. Mark Millar, formerly with Platform Computing Inc., joins as chief financial officer. David Wexler joins Syncapse as senior vice president, coming from EA Sports. Sarah Long joins as vice president of marketing. Larry Philps joins as vice president of engineering, coming from Autodesk. Derek Marshall joins as vice president of program delivery. Marshall was previously with Rogers Communications Inc.
4 min read · 02 June 2011
Publicly traded VMware Inc. has acquired social collaboration start-up Socialcast, the company announced Wednesday. Financial terms of the deal were not released. San Francisco, Calif.-based Socialcast, which has raised more than $9.4 million from Menlo Ventures and True Ventures, helps large companies establish internal social networking platforms to help co-workers follow and interact with each other.
4 min read · 02 June 2011
The Gores Group is in talks to buy more than half of the remaining stores of bankrupt bookseller Borders Group Inc., Reuters reported, citing a story in the Wall Street Journal. Borders, which filed for Chapter 11 bankruptcy protection in February, would be able to continue operating as a going concern, Reuters wrote. Since filing for bankruptcy, Borders has closed about 225 of its 500 stores.
2 min read · 02 June 2011
