Standard Chartered Private Equity, a unit of Standard Chartered Plc , has invested $25 million in India's Bush Foods Overseas, Reuters reported. Bush Foods Overseas processes and sells basmati rice. The investment will help the company expand its manufacturing and processing units.
1 min read · 06 April 2011
The receivers of Australian clothing company Colorado Group have put the business up for sale, Reuters reported. Colorado Group, which is owned by buyout shop Affinity Equity Partners, surrendered control of the business to its lenders last week. The lenders – which include Mizuho Corporate Bank, National Australia Bank and several hedge funds – are asking for expressions of interested by April 19, Reuters said. The lenders are owed roughly $411.5 million.
2 min read · 06 April 2011
Buyout firm Uni-World Capital has acquired the beer business of Pittsburgh-based Iron City Brewing Company. Terms of the acquisition were not released. Under the terms of the deal, Edwin Lozano, a former PepsiCo executive, will serve as the new president and CEO of the company. New York-based Uni-World Capital is focused on lower-middle market buyouts.
3 min read · 06 April 2011
Kohlberg Kravis Roberts & Co. has partnered with the founder of Taiwan's Yageo Corp. to buy the components maker in a $1.6 billion deal, Reuters reported. KKR and Yageo founder and chairman, Pierre Chen, will form a company to bid for all the shares of Yageo, which makes electronic components including resistors and capacitors, Reuters wrote. They will offer $16.10 Taiwan dollars per share, a 14% premium over the company’s closing price April 1. The deal is valued at $1.6 billion.
2 min read · 06 April 2011
Merck will acquire specialty pharmaceutical company Inspire Pharmaceuticals Inc. in a deal valued at roughly $430 million. Private equity fund Warburg Pincus Private Equity IX, L.P., which owns approximately 28% of the outstanding shares of Inspire, has agreed to tender all of its shares into the offer. Merck will pay $5 per share for Inspire Pharmaceuticals, representing a 26% over the company’s April 4 closing price.
4 min read · 05 April 2011
Culver City, Calif.-based clothing company Velvet has inked an undisclosed amount of financing from New York-based private equity firm Snow Phipps Group. Terms of the deal were not released, though Snow Phipps will take a “significant interest” in the company, according to a written statement. The Sage Group advised Velvet on the deal. Snow Phipps was advised by William Susman in conjunction with Financo, Inc.
3 min read · 05 April 2011
SANUWAVE Health Inc., a medical technology company traded on the over-the-counter Bulletin Board, has raised $9.1 million in a private placement. The names of investors were not released, though the company said it was backed by “healthcare-focused institutional funds.” Rodman & Renshaw acted as placement agent. The funds will be used for working capital.
3 min read · 05 April 2011
Publicly traded Regal Beloit Corp. has acquired motor and control technology company Ramu Inc. Blacksburg, Va.-based Ramu was funded by venture capital investor Khosla Ventures. Terms of the acquisition were not released. Ramu is focused on switched reluctance motor technology – motor design suitable for applications requiring high operating speeds or high ambient temperature conditions, the company said in a written statement. Wisconsin-based Regal Beloit is a manufacturer of mechanical and electrical motion control and power generation products.
2 min read · 05 April 2011
Private equity firm ICV Partners has acquired Cargo Airport Services from MidMark Capital, the Weinberg Bell Group and other shareholders. Financial terms of the deal were not released. Prospect Capital Corporation provided debt financing for the deal. Cargo Airport Services handles cargo at 12 airports across North America, including New York City’s John F. Kennedy International Airport. ICV Partners has more than $440 million in capital under management.
3 min read · 05 April 2011
Confie Seguros, a provider of auto insurance that focuses on Hispanic consumers, has acquired New York-based insurance broker NII Brokerage. Terms of the deal were not released. Confie Seguros is backed by San Francisco-based private equity firm Genstar Capital. By acquiring NII Brokerage, Confie Seguros will expand throughout New York as well as into Connecticut and Pennsylvania.
2 min read · 05 April 2011
