Private equity firm Warburg Pincus will acquire Rural/Metro Corp., a provider of ambulance and private fire protection services. The firm will pay $17.25 per share for the company, a 37% premium over its closing price on March 25. The deal is expected to close at the end of June 2011.
3 min read · 28 March 2011
The Carlyle Group has completed its acquisition of Japan’s Tsubaki Nakashima from a unit of Nomura Holdings, Reuters reported. Carlyle bought the ball bearing manufacturer for about $800 million, Reuters said, citing a source.
1 min read · 28 March 2011
Hong Kong-based buyout shop Longreach Group has reached a first close on its new $750 million Japan-focused fund, Reuters reported. The firm said $125 million came from return investors from the firm’s first fund, Longreach Capital Partners 1.
1 min read · 28 March 2011
Green EnviroTech Holdings Corp., which is traded on the over-the-counter Bulletin Board, has sealed $5 million in equity funding from Centurion Private Equity, an institutional advisor managed by Roswell Capital Partners. Green EnviroTech is a plastics recovery, separation, cleaning, and recycling company.
2 min read · 28 March 2011
Private equity firm Navis Capital Partners has acquired a stake in Malaysia's Kinderdijk Group, a distributor and retailer of lifestyle and babycare products, Reuters reported. Kinderdijk distributes popular brands including Mattel/Fisher Price and MacLaren. Terms of the deal were not released. Malaysia-based Navis, which manages about $3 billion. The firm is currently investing out of the $76 million Malaysian Growth Opportunity Fund I.
1 min read · 28 March 2011
China's Henan Golden Dragon Precise Copper Tube Inc., which is backed by the private equity unit of Standard Chartered Plc, plans to raise 3.5 billion yuan ($533.72 million) in an initial public offering, Reuters reported, citing a story in the Shanghai Securities News. Golden Dragon is China’s largest precise copper tube producer, Reuters wrote. The company is also backed by Lehman Brothers Holdings and Goldman Sachs.
1 min read · 28 March 2011
Private equity firm GTCR has completed its sale of Fairmount Cheese Holdings Inc. to Saputo Inc. The $270.5 million deal provided an exit for GTCR, which formed Fairmount in 2003 as a means to acquire and consolidate companies in the specialty cheese industry.
2 min read · 28 March 2011
Middle-market buyout shop Stony Point Group has acquired Aerospace Distributors Inc. and its subsidiary Graco Supply Company Inc. Financial terms of the deal were not released. Graco is based in Ft. Worth, Texas and is focused on chemical management and vendor-managed inventory services for the commercial, military and general aviation markets. Stony Point is based in Asheville, N.C.
2 min read · 28 March 2011
Publicly traded biopharmaceutical company Cephalon Inc. will pay $225 million for Gemin X Pharmaceuticals. Gemin is backed by investors including Caxton Advantage Life Sciences Fund, GrowthWorks Canadian Fund and Sanderling Venture Partners. Under the terms of the deal, Gemin X shareholders could receive an additional $300 million after the company reaches regulatory and sales milestones. The deal is expected to close during the second quarter.
2 min read · 28 March 2011
Software company Civica, which is owned by buyout shop 3i Group, has made an offer for the education unit of British government outsourcing firm Tribal, Reuters reported, citing a story in the Sunday Times. Tribal has been approached by other private equity firms interested in its healthcare business, Reuters said.
1 min read · 28 March 2011
