Plasco Energy Group, an Ottawa-based converter of waste into renewable energy, has raised 140 million Canadian dollars ($143 million) in new equity funding. Soros Fund Management led the round, which will help fund commercial projects in Canada, the U.S., China and other countries. The company closed a $110 million round in July 2010, led by Ares Management.
2 min read · 22 March 2011
Private equity firm Leonard Green & Partners, which is considering a takeover of BJ's Wholesale Club Inc., has entered into a confidentiality agreement with the retailer, Reuters reported. BJ’s Wholesale announced in February that it was exploring the possibility of a sale. BJ's is the third-largest U.S. wholesale club retailer behind Costco Wholesale Corp. and Sam's Club, which is a unit of Wal-Mart Stores Inc., Reuters reported.
2 min read · 22 March 2011
Christopher Fraser has joined Advent International’s operating partner program. He will advise the private equity firm on deals in the industrial sector, with a focus on chemicals and materials. Fraser worked previously as chief executive of Chemical Lime, a leading producer of inorganic chemicals. He has also worked as president and CEO of OCI Chemical, a producer of carbonates.
3 min read · 22 March 2011
Mark Visser has joined Angelo, Gordon & Co. as a managing director in the private equity group. Based in New York, Visser will lead the firm’s healthcare investment activities. Previously, Visser worked as a partner at Behrman Capital, where he focused on healthcare investments. He also previously work in Merrill Lynch's investment banking group. Angelo, Gordon & Co. currently manages approximately $23 billion.
3 min read · 22 March 2011
German property group GSW, which is owned by Goldman Sachs's Whitehall fund and private equity firm Cerberus Capital, is planning an initial public offering for the second quarter, Reuters reported. It’s the company’s second attempt at a public listing. The company shelved plans for an IPO in May because of concern over the Greek debt crisis.
2 min read · 22 March 2011
Wireless infrastructure developer 11i Solutions Inc. has closed on $1.8 million in convertible bridge financing from investment firm Steel Pier Capital Advisors. New York-based Steel Pier Capital Advisors is a private equity firm that partners with management to make non-control equity investments. 11i Solutions is based in Huntsville, Alabama.
2 min read · 22 March 2011
Private equity firms investing in Latin America raised $8.1 billion in 2010, more than twice the amount raised the previous year, Reuters reported, citing a new study by the Latin American Venture Capital Association. The size of deals in the region also grew, with the average deal size increasing to about $41 million last year from roughly $19 million in 2009, Reuters reported.
2 min read · 22 March 2011
Buyout shop CVC will invest 2.35 trillion rupiah ($269 million) in the cable TV and internet units of Indonesian media firm PT First Media, Reuters reported. The strategic partnership deal was announced Tuesday.
1 min read · 22 March 2011
Tyco International Ltd. will pay $300 million for a 75% stake in valve maker KEF Holdings Inc., Reuters reported. Based in the United Arab Emirates, KEF Holdings sells valves for the oil and gas sector. As part of the deal, Dubai International Capital LLC, the private equity investment arm of Dubai Holding, will sell its 45% stake in the company for $178 million. It acquired the stake in 2008 for $126 million, Reuters said.
1 min read · 21 March 2011
Swedish private equity firm Ratos will buy the cinema business of Finnish media group Sanoma in a deal valued at 116 million euro ($164.4 million), Reuters reported. The deal is subject to authority approvals in Finland and Latvia, Reuters wrote.
1 min read · 21 March 2011
