Consumer goods packager Silgan Holdings Inc. said it will pay $1.3 billion in cash and stock to acquire smaller rival Graham Packaging Company Inc., Reuters reported. Private equity firm Blackstone holds a 61% stake in Graham Packaging. The acquisition, valued at $4.1 billion including debt, will help Silgan boost the number of manufacturing facilities in the Americas, Europe and Asia, Reuters reported.
2 min read · 13 April 2011
Holmdel, N.J.-based Cosmetic Essence, which is backed by private investment firm Littlejohn & Co., has named Peter Martin as its chief executive officer. Martin served in various roles at Captive Plastics from 1996 to 2008, most recently as president and C.E.O. Cosmetic Essence provides contract manufacturing and supply chain management services for the cosmetics, personal care and household products industries. Littlejohn is based in Greenwich, Conn.
3 min read · 13 April 2011
Buyout shop Kohlberg Kravis Roberts & Co. has backed out of the race for Polish mobile operator Polkomtel, Reuters reported. The company is expected to be valued at up to 18 billion zlotys ($6.6 billion). Last month Polkomtel shortlisted seven bidders, including private equity firms Apax Partners, Providence Equity Partners, Bain Capital and KKR.
1 min read · 13 April 2011
New York-based middle-market private equity firm Harvest Partners has promoted Jay Wilkins to managing director. Wilkins was previously a principal with the firm. Wilkins joined Harvest in 2010 from DLJ Merchant Banking Partners. Harvest Partners has approximately $1.4 billion of capital under management.
2 min read · 13 April 2011
British online payment company Skrill has pulled its planned London initial public offering, blaming poor market conditions, Reuters reported. The company, which is majority owned by private equity group Investcorp Technology Partners, had planned to had planned to sell 80 million pounds of new shares in the offering to help fund its expansion into new products and locations, Reuters wrote.
2 min read · 13 April 2011
Private equity shop Kohlberg Kravis Roberts & Co. will pay $159 million for a 10% stake in Vietnam's Masan Consumer Corp, Reuters reported. The deal is the largest ever private equity investment in Vietnam. The deal values Masan Consumer, a unit of Masan Group and Vietnam's leading producer of fish, soya, chili sauce and branded noodles, at $1.6 billion, Reuters said. KKR's investment comes from its $4 billion Asian Fund L.P., which closed in 2007 and is now around 65 percent invested.
4 min read · 13 April 2011
Blackstone Group has bought about $600 million in debt on a group of industrial properties, Reuters reported, citing a Bloomberg story. Blackstone bought the mezzanine debt on the U.S. portfolio CalWest from a number of financial institutions, including Barclays, Bloomberg reported.
1 min read · 13 April 2011
Billionaire hedge fund manager Steven Cohen is bidding for a minority stake in the New York Mets baseball team, Reuters reported, citing a story in the Wall Street Journal. The team is attempting to raise roughly $200 million to cover losses and pay down debt, Reuters wrote. Other bidders for the stake include Marc Spilker, president of private-equity fund Apollo Global Management LLC.
1 min read · 13 April 2011
Middle market private equity firm Waud Capital Partners has closed its third fund, Waud Capital Partners III, with $463 million in commitments. The oversubscribed fund exceeded its initial $350 million target. WCP III will make equity investments ranging from $20 to $100 million in companies operating within healthcare services, business and consumer services, specialty distribution and select industrial areas. Waud Capital is based in Chicago.
3 min read · 13 April 2011
Evanston, Ill.-based private equity firm Industrial Opportunity Partners said that its platform company Center Manufacturing has acquired Moeller Products Co. . Moeller is a producer and supplier of engineered assemblies and components to OEMs of diesel engines and diesel-powered medium-duty and heavy-duty equipment. Moeller is based in Greenville, Miss. Capital One Leverage Finance Corp. provided senior debt; Patriot Capital provided junior debt. Terms of the transaction were not disclosed.
3 min read · 13 April 2011
