Mid-market private equity shop HgCapital is planning to sell talc mining and processing company Mondo Minerals, Reuters reported. The firm has hired Lazard to help sell the business, which it values between 300 million and 400 million euros ($425 million-$565 million). HgCapital acquired Amsterdam-based Mondo in 2007. No terms of the original sale were disclosed.
1 min read · 28 March 2011
First China Pharmaceutical Group Inc., which is traded on the over-the-counter Bulletin Board, has closed on $2.7 million in financing, led by Wellfleet Partners Inc. Cedarview Capital also contributed, the company said in a release. First China Pharmaceuticals aims to raise $3 million in total.
3 min read · 25 March 2011
Backed by capital from buyout shop Evergreen Pacific Partners, Redmond, Wash.-based Radiant Imaging Inc. has merged with Bellevue, Wash.-based Zemax Development Corp. Radiant Imaging operates a test and measurement business for measuring light and color. Its systems are used in lab and production environments for products such as flat panel displays, laptops and LED devices. Zemax provides a platform for creating optical systems, including lenses, cameras and projectors. Evergreen Pacific Partners is based in Seattle.
4 min read · 25 March 2011
Private equity firm 3i Group has kicked off the sale of its portfolio company Azelis, a Belgium-based chemical distributor, Reuters reported. 3i Group, which is based in London, has hired Bank of America Merrill Lynch to help with the sale. The private equity firm bought Azelis in 2007 for about 315 million euro, Reuters wrote.
1 min read · 25 March 2011
London-based private equity firm Duke Street will pay roughly 215 million pounds ($349 million) for Japanese noodle chain Wagamama, buying the company from rival buyout shop Lion Capital, Reuters reported. Lion Capital took a majority stake in Wagamama in a 2005 deal valued at 102.5 million pounds.
2 min read · 25 March 2011
Four buyout shops remain in the running for SLV Group, a German lighting business owned by HgCapital, Reuters said. A sale of the company could fetch more than 400 million euros ($562 million), Reuters estimated. European investment firms BC Partners, Charterhouse and Cinven are all in the second round of the auction. U.S. firm Lindsay Goldberg also remains in the running.
2 min read · 25 March 2011
British insurer Aviva plans to sell its RAC roadside rescue business, and has hired JP Morgan to manage the sale, Reuters reported. Private equity firms are expected to be most interested in the business, which is valued at 500-600 million pounds ($804 million to $1.12 billion), the Financial Times reported.
1 min read · 25 March 2011
British vacuum technology maker Edwards has set a price range of 200 to 270 pence for its London listing, Reuters reported. The company is currently owned by private equity groups CCMP Capital and Unitas Capital. Edwards will sell roughly 35% of the company during the offering, Reuters reported.
1 min read · 25 March 2011
Private equity firm Apax Partners will pay about $745 million for the Trader Corp. unit of media and marketing company Yellow Media Inc., Reuters said. The proceeds of the sale – set to close in June – will help Yellow Media pay down debt. Trader Corp. publishes about 160 publications and 22 websites on automotive, real estate, general merchandise and employment, Reuters said.
1 min read · 25 March 2011
British buyout shop Doughty Hanson is considering an initial public offering for portfolio company Avanza Group, Reuters reported. Doughty Hanson bought the Spanish bus company in 2006, and has hired JP Morgan to advise on options, Reuters said. The company is worth a reported 900 million euros ($1.3 billion).
1 min read · 24 March 2011
