Car sharing service Zipcar Inc. expects its initial public offering to be priced between $14 and $16 per share, Reuters reported. The company said in an amended filing with the U.S. Securities and Exchange Commission, that it plans to sell 6.6 million shares, while stockholders will sell an additional 1.6 million shares, Reuters reported. Zipcar has raised more than $60 million from venture capital firms including Benchmark Capital, Greylock Partners, Globespan Capital Partners, Meritech Capital Partners and Pinnacle Ventures.
1 min read · 30 March 2011
Chinese airline group HNA Group and private equity firm H&Q Asia Pacific plan to raise up to $760 million in private equity funds, Reuters reported, citing a company press release. HNA's Shanghai Grand China Investment Management Co. and H&Q will invest the funds in China's logistics and consumer sectors, including transportation, shipping and warehousing companies, Reuters reported.
1 min read · 30 March 2011
Australian clothing and footwear company Colorado Group has surrendered control of the business to lenders, Reuters said. It is the second private equity-owned retail chain in Australia to do so in the last two months, Reuters said. The company owes roughly $411.5 million to lenders including Mizuho Corporate Bank, National Australia Bank and several hedge funds. Colorado was acquired by Affinity Equity Partners in 2006 for 430 million Australian dollars.
4 min read · 30 March 2011
PineBridge Gateway Partners, which invests across Turkey, the Middle East, Africa and the former Soviet Union, has invested an undisclosed amount in Ulusal Faktoring, a non-bank financial services company in Turkey. Istanbul-based Ulusal provides financing to small and medium-sized companies in Turkey. No terms of the deal were released. PineBridge Gateway Partners is a unit of PineBridge Investments.
3 min read · 29 March 2011
Frazier Healthcare has completed its acquisition of the Onsite Services instrument management and repair business of publicly traded CareFusion. Financial terms of the deal were not released. OnSite Services delivers education-based medical instrument repair and instrument management programs to hospital systems domestically, the company said in a statement. The deal was first announced in January.
2 min read · 29 March 2011
Watermark Capital Partners, a private investment and management firm focused on lodging and related investments, has added Michael Coolidge as Senior Vice President. Most recently, Coolidge served as vice president, real estate and development at Hyatt Hotels Corp. In his new role, Coolidge will help strengthen the firm’s hotel acquisition and asset management team.
2 min read · 29 March 2011
Buyout shop GTCR has completed its acquisition of Sterigenics International Inc., a provider of contract sterilization and ionization services for medical devices, food products and other applications. The firm bought Oak Brook, Illinois-based Sterigenics from Silverfleet Capital and PPM America Capital Partners. Terms were not released. Jefferies & Company, Bank of America Merrill Lynch and UBS advised GTCR on the transaction.
3 min read · 29 March 2011
Abu Dhabi Capital Management has launched its first fund, ADCM Secondary Private Equity Fund, with a target of $100 million. The firm held a $30 million first close of the fund earlier this month, the firm said in a written release. A final close is planned for February 2010.
1 min read · 29 March 2011
New York-based buyout shop Blue Wolf Capital Partners has acquired American Builders Supply, a supplier of doors, windows and trusses to homebuilders in Florida. Financial terms of the deal were not released. The company’s management team invested alongside Blue Wolf. Bob Dello Russo, CEO and owner of Del-Air, Florida’s largest HVAC company, also invested and will serve on the company’s board.
3 min read · 29 March 2011
Emergence Capital Partners has promoted Kevin Spain to general partner. For the past four years, Spain has served as a principal at the firm, where he focuses on software-as-a-service, mobile and digital media opportunities. He currently sits on the board of Veeva Systems, SupportSpace, Viglink and GroundTruth. Previously, he worked as a member of Microsoft's corporate development group.
2 min read · 29 March 2011
