Japanese private equity firm Advantage Partners said that four special purpose firms it established to buy Tokyo Star Bank have missed loan payments and will probably relinquish control of the bank, Reuters reported. Advantage established the special purpose firms to buy Tokyo Star bank in a $2.2 billion deal three years ago. U.S. investment fund Lone Star and other banks that extended loans for the 2008 acquisition of Tokyo Star are planning to set up a special purpose company that will take over the bank's shares, Reuters wrote.
2 min read · 25 May 2011
New York-based buyout firm Riveria Investment Group has bought a minority stake in staffing and recruiting company JBCHoldings. Financial terms were not disclosed. JBC will use the proceeds from the transaction to fund growth initiatives, the company announced Wednesday. Formed in 2010, Riveria Investment Group focuses on middle-market investments.
3 min read · 25 May 2011
New York-based private equity firm American Securities has completed a majority investment in SpecialtyCare, a provider of outsourced perfusion, clinical technician, minimally invasive surgical support services. Terms of the deal were kept under wraps. Five-year-old SpecialtyCare is based in Nashville. Equity for the deal was provided by American Securities Partners V, L.P.
3 min read · 24 May 2011
Hanover Partners exited its stake in Solidscape Inc., selling the company, a manufacturer of 3D printer systems, to publicly traded Stratasys. The exit from Solidscape generated a 2.5x cash-on-cash return for lead investors Hanover Partners and Tuckerman Capital, during a nearly 5-year investment period, Hanover announced Tuesday. Solidscape is based in Merrimack, New Hampshire. Hanover Partners acquired Solidscape in June 2006 in partnership with Tuckerman Capital. Terms of the sale were not released.
2 min read · 24 May 2011
Tokyo-based financial services firm SBI Holdings and Abu Dhabi-owned Invest AD will invest $100 million in a new private equity fund focused on acquisitions in Turkey, Reuters reported. The two firms will each contribute $50 million to the fund, which will focus on deals in consumer goods, retail, services and pharmaceuticals and healthcare, Reuters said. The two companies set up a $100 million Africa fund last September.
2 min read · 24 May 2011
1 min read · 24 May 2011
Outerwear maker Moncler is planning to raise 500 million euros ($700 million) in an initial public offering slated for next month, Reuters reported. The company, which makes goose-down jackets, plans to set a price range during the week of June 6. U.S. private equity firm Carlyle Group owns 48 percent stake of the company.
2 min read · 24 May 2011
Private equity investment firm Welsh Carson Anderson & Stowe has inked a stake in GlobalCollect, a provider of local e-payment services. The firm is buying a majority stake from growth equity firm General Atlantic. The terms of the transaction were not disclosed.
2 min read · 24 May 2011
Nestle Health Science, a subsidiary of Nestle SA, will buy specialty pharmaceutical and diagnostic company Prometheus Laboratories Inc. for an undisclosed amount, the company announced Tuesday. Prometheus is focused on developing science-based nutritional solutions for medical conditions. The company had raised funding from investors including DLJ Merchant Banking Partners, SPVC, Sprout Group, Apax Partners, Pamlico Capital and Brentwood Venture Capital.
3 min read · 24 May 2011
Russian Internet company Yandex announced Tuesday the pricing of its Nasdaq initial public offering at $25 per share. Yandex’s $1.3 billion IPO is higher than expected, after the company priced the offer at the top end of a revised range. Yandex is backed by private equity firm Baring Vostock, which owns roughly 40% of the company. The Class A ordinary shares will begin trading today under the symbol "YNDX."
3 min read · 24 May 2011
