Buyout shop Eigen Capital has acquired Plews Inc., a former subsidiary of British industrial conglomerate Tomkins Ltd. Financial terms of the deal were not released. Plews is a distributor of automotive and industrial replacement parts. Medley Capital and ABL provided debt financing for the deal.
2 min read · 25 April 2011
Momentive Performance Materials Holdings, a chemical manufacturer owned by Apollo Management, has filed to raise up to $862.5 million in an initial public offering, Reuters reported. Apollo owns about 89.5 percent of Momentive. GE Capital Equity Investments Inc. owns about 8.9 percent of the company. Momentive makes thermosets, silicones and silicone derivatives and has over 104 manufacturing facilities.
1 min read · 25 April 2011
Los Angeles-based private equity firm Abacus Financial has acquired Houston-based STAR Concrete Pumping Co. Terms of the deal were not released. With the deal, Abacus Financial–which focuses on commercial real estate and operating companies–adds to its portfolio of concrete-related investments. STAR Concrete provides concrete pumping delivery services throughout the United States, Canada, and the northern part of South America.
4 min read · 21 April 2011
Finnish private equity firm Intera Partners Oy has closed its Intera Fund II Ky with 200 million euro ($291.3 million). Intera said it will continue to invest primarily in Finnish companies with growth potential in their domestic market, or the potential to expand abroad. The firm typically targets profitable companies with turnover between 10 million euro and 100 million euro. The firm closed its first fund in 2007.
2 min read · 21 April 2011
LDC, a middle-market private equity firm and part of the Lloyds Banking Group, has paid 47 million pounds ($77.8 million) for a majority stake in hosting company UK2 Group Inc. Formed in 1997, UK2 Group is a provider of domain name registration and web-site hosting services. UK2 Group has offices in London and Utah.
4 min read · 21 April 2011
Private equity asset management firm Paul Capital Advisors has announced a management-led change in ownership, and will now be known as Top Tier Capital Partners. Both Paul Capital Advisors and the Bank of Ireland have sold their respective equity interests in the firm. Effective immediately, all business activity of the restructured firm will be undertaken using the new name. Top Tier Capital Partners’ management will continue running day-to-day operations. And in the near term, Top Tier Capital Partners will co-locate with Paul Capital Advisors and share certain back-office functions, the firm said in a statement.
3 min read · 21 April 2011
Venture firm Draper Fisher Jurvetson has added a new fund, DFJ JAIC, to its network of partner funds, the firm announced. DFJ JAIC is an early stage US-Japan cross border investment fund with teams in Tokyo and Silicon Valley. The fund will focus on investments in the consumer, enterprise, mobile and advanced materials sectors in both the US and Japan. The fund was formed by Japan Asia Investment Co., JAIC America and Draper Fisher Jurvetson.
4 min read · 21 April 2011
Goldman Sachs’ private equity funds will pay up to $291.6 million for a 19.9% stake in Enstar Group, company that invests in insurance and reinsurance companies and portfolios, Reuters reported. GS Capital Partners has invested $110.2 million to date in Enstar. The funds plan to invest additional money, following approval by regulators and Enstar shareholders, Reuters reported. Bermuda-based Enstar focuses on companies and portfolios that are no longer writing new policies, known as being in "run off."
1 min read · 21 April 2011
Buyout shops Carlyle Group and TPG Capital are in talks to launch a joint effort to buy a $1.5 billion stake in Malaysia’s RHB Capital, Reuters reported. Abu Dhabi Commercial Bank owns the stake. The buyout firms have hired an investment bank to advise them on the potential offer, though the name of the bank was not released. Goldman Sachs and Bank of America-Merrill Lynch are running the auction for Abu Dhabi Commercial Bank, Reuters said.
1 min read · 21 April 2011
Buyout shop Berkshire Partners is in talks to buy Husky Injection Molding Systems in a deal that could be worth up to $2 million, Reuters reported. The company is currently owned by Canadian buyout shop Onex, and saw interest from Bain Capital and several other private equity firms in earlier stages of the auction. Onex bought Husky for nearly $1 billion in 2007.
2 min read · 20 April 2011
