ACON Investments has completed its purchase of Refac Optical Group from Palisade Capital Management. Financial terms of the deal were not released. Refac Optical Group was advised by Oppenheimer & Co. Inc. in the transaction. ACON Investments was advised by William Susman.
4 min read · 24 March 2011
Exergetic Energy, a Detroit-based energy supply company, has closed on a $10 million draw-down equity financing agreement with Boston-based Auctus Private Equity . The company will use the proceeds to underwrite the construction of a 1.5 MW solar farm facility in Desoto County, Florida.
2 min read · 24 March 2011
GE Capital, through its GE Capital Financial Inc., has poured $100 million in debt financing into Five Guys Holdings Inc., the franchisor of Five Guys Burgers and Fries. The funding includes a $55 million term loan and a $45 million revolver, and will be used to finance expected growth. Five Guys was formed in 1986, and opened its first restaurant in Arlington, Va.
2 min read · 24 March 2011
Buyout giant the Carlyle Group has plans to open offices in Johannesburg, South Africa, and Lagos, Nigeria, as part of an effort to expand into emerging markets, Reuters reported. To date, the private equity firm has about $16.6 billion under management in emerging markets. The Carlyle Group is based in Washington D.C.
1 min read · 24 March 2011
Private equity firm Infrastructure India Holdings Fund LLC has acquired a 6.3% stake in Aegis Logistics Ltd., Reuters reported. The proceeds will help Aegis with its port terminal infrastructure projects, the company said. Under the terms of the deal, Aegis sold 2.12 million shares to the firm, at a price of 322 rupees ($7.20) each.
1 min read · 24 March 2011
Huron Capital has exited its investment in Quest Specialty Chemicals, earning 4.1x its original investment, the firm said. Huron exited as Quest was recapitalized by Audax Group, Moelis Capital Partners, and Quest management. Terms of the deal were not released. Huron invested in Quest from The Huron Fund II LP, a $185 million fund raised in 2005.
3 min read · 24 March 2011
Private equity firms have teamed up with several listed hotel chains in the second round of bidding for Chinese hotel group Shanghai Motel Management Co., Reuters reported. China Lodging Group Ltd bid with Bain Capital LLC, General Atlantic and local private equity firm CDH Investments, Reuters said. The Carlyle Group and Warburg Pincus are also reportedly teaming up with hotel chains in competing bids.
2 min read · 24 March 2011
European private equity firm IK Investment Partners has bought Offshore Incorporations from Carlyle Group, Reuters reported. Terms of the deal were not released, though previous reports estimated the deal at as much as $300 million.
1 min read · 24 March 2011
French buyout shop PAI Partners is considering a sale of its majority stake in electrical and mechanical engineering group Spie, Reuters reported. PAI Partners bought a controlling stake in Spie in 2006 for around 1 billion euros ($1.41 billion).
1 min read · 24 March 2011
OpenView Venture Partners has added content marketing evalngelist Joe Pulizzi to its team. Pulizzi will work as a senior advisor in OpenView Labs, the strategic and operational consulting group at the firm, coaching portfolio companies on best practices for content marketing. Boston-based OpenView has approximately $240 million under management.
3 min read · 24 March 2011
