The private equity owners of German outdoor apparel and equipment maker Jack Wolfskin decided not to sell the company after failing to attract high enough offers, Reuters reported. Barclays Capital and Quadriga Capital had hoped to attract more than 800 million euro for the company, Reuters reported. Some bidders had offered to pay north of 600 million euro, Reuters said.
2 min read · 25 April 2011
Sankaty Advisors, a private manager of fixed income and credit instruments, said that it has added Eric Karp as a Senior Advisor. Karp will help the firm identify and pursue new credit investment opportunities, especially in the sponsored LBO space, the firm said in a statement. Karp was most recently global head of financial sponsors at Bank of America. Sankaty has offices in Boston, New York, Chicago and London.
2 min read · 25 April 2011
2 min read · 25 April 2011
China Construction Bank Corp. has approached the Malaysian government about buying a stake in private equity-backed lender EON Capital, Reuters reported. EON Capital is currently the subject of a legal battle involving its largest shareholder, Hong Kong-based private equity fund Primus Pacific Partners, and other shareholders, over a plan by Hong Leong Bank to acquire the smaller lender, Reuters reported. Primus filed a lawsuit to stop Hong Leong Bank from taking over EON Capital.
3 min read · 25 April 2011
Boston-based buyout shop Berkshire Partners has recapitalized government service provider Engineering Solutions & Products. Terms of the deal were not released. Eatontown, NJ-based Engineering Solutions provides acquisition, logistics and technology support services to the U.S. Department of Defense. The Chertoff Group and Avascent Group served as strategic advisors to Berkshire.
3 min read · 25 April 2011
Lower-middle-market private equity firm Inverness Graham Investments has recapitalized Nobles Manufacturing, a maker of advanced metal and composite ammunition delivery system consumables for the United States military. Financial terms of the deal were not released. Inverness Graham Investments is based in Philadelphia.
2 min read · 25 April 2011
Publicly traded ValueClick will pay $70 million for mobile advertising network Greystripe Inc. San Francisco-based Greystripe has raised venture capital from firms including Steamboat Ventures, Monitor Ventures, Peacock Equity and Incubic Venture Capital. Montgomery & Co. acted as financial advisor to Greystripe. Under the terms of the deal, Greystripe’s management will join ValueClick, and the business will be run as a wholly-owned subsidiary within ValueClick Media.
4 min read · 25 April 2011
Publicly traded online game developer Changyou.com will acquire a majority stake in Shenzhen 7Road Technology Co. in a deal valued at up to $101 million. China-based Changyou.com will take a 68.2% stake in the web-based game company, paying $68.26 million in cash, plus an additional earn-out of up to $32.7 million. The deal is expected to close by the end of June.
4 min read · 25 April 2011
Gregory Browne has joined Fifth Street Finance Corp. as a managing director in the firm’s Chicago office. Previously, Browne worked for CapitalSource Inc., and earlier in his career at GE Capital's Healthcare Financial Services group. In his new role, Brown will be responsible for developing and maintaining private equity sponsor relationships and sourcing debt financing primarily in the healthcare sector, the firm said in a statement. Fifth Street is based in White Plains, New York.
2 min read · 25 April 2011
Lewisville, Texas-based CareView Communications, which is traded on the over-the-counter Bulletin Board, has raised $20 million from HealthCor Partners Management and HealthCor Management. The financing includes senior secured convertible notes and common stock purchase warrants. HealthCor is an investment manager in the healthcare and life sciences sectors. CareView provides information technology services for the healthcare industry.
4 min read · 25 April 2011
