Private equity firm CVC has until today to up its 2.9 billion euro ($4.1 billion) bid for German cable operator Kabel BW if it wants to beat Liberty Global's bid, Reuters reported. Liberty Global upped its bid to 3.1 billion euros ($4.4 billion) on Saturday, Reuters said.
3 min read · 21 March 2011
Publicly traded SWS Group Inc. has raised $100 million in new financing from Hilltop Holdings Inc. and Oak Hill Capital Partners. Under the terms of the deal, the two firms will each contribute $50 million in debt financing. Simultaneously with the loan, SWS Group will issue a warrant to each of Hilltop and Oak Hill Capital. Upon exercise, Hilltop Holdings and Oak Hill Capital will each own approximately 17% of the Company. Dallas-based SWS Group provides investment and financial services through its subsidiaries.
7 min read · 21 March 2011
Czech security software maker AVG Technologies, which is backed by buyout shop Enterprise Investors, has inked a $235 million secured, five-year term loan from a syndicate arranged by J.P Morgan and Morgan Stanley. The company, which makes free anti-virus software, recently shelved plans for an initial public offering. The new financing will help with strategic growth opportunities, as well as provide a dividend to shareholders, AVG Technologies said in a statement.
3 min read · 21 March 2011
New York-based NewOak Capital has named David Eyzenberg to the post of managing director and head of the commercial real estate division. Eyzenberg worked previously as president of Prodigious Capital Group. He also serves as an adjunct professor in the NYU Masters of Science in Real Estate program. NewOak Capital provides advisory and asset management services.
5 min read · 21 March 2011
Chipmaker Broadcom will pay up to $400 million for Israeli microchip developer Provigent Inc., Reuters reported, citing a story in TheMarker, a financial news website. Provigent develops system-on-a-chip products that enable wireless system vendors to deliver broadband wireless backhaul systems to network operators, Reuters wrote. The company has raised upwards of $55 million from venture capital firms Sequoia Capital, Lightspeed Venture Partners and Israel's Pitango.
1 min read · 21 March 2011
Prospect Capital Corp. has provided a $60 million first-lien senior secured credit facility for Safe-Guard Products International. Safe-Guard, a third-party administrator of finance and insurance for motor vehicles, is owned by private equity firm H.I.G. Capital. Safe-Guard is based in Atlanta.
3 min read · 21 March 2011
Middle market private equity firm ECI Partners has invested an undisclosed amount in Fourth Hospitality, a provider of back-office software systems for the hospitality sector. The money will help Fourth Hospitality expand geographically and finance new development and acquisitions. Terms of the deal were not released. ECI Partners is based in the UK.
2 min read · 21 March 2011
The California Public Employees' Retirement System , the biggest U.S. public pension fund, will buy more direct stakes in infrastructure assets such as roads and airports, Reuters reported. The fund is targeting $5 billion in infrastructure investments over the next several years. CalPERS currently has $860 million committed to infrastructure, most through private equity funds including Carlyle Group and Alinda Capital, Reuters said.
2 min read · 21 March 2011
Buyout shop CVC has emerged as the frontrunner in the auction for German cable operator Kabel Baden Wuerttemberg, Reuters reported. Kabel is owned by Swedish private equity firm EQT. Reuters said that EQT would likely make a final decision on the sale this weekend.
1 min read · 18 March 2011
The deadline for final bids in the sale of failed Japanese consumer lender Takefuji Corp. has been put on hold because of last week’s earthquake. The deadline, originally March 22, has been moved to March 31, Reuters said. Private equity firms Cerberus Capital Management and TPG, as well as Japanese lenders Tokyo Star Bank and J Trust Co., and Korea's A&P Financial have reportedly all advanced to the final round of bidding.
2 min read · 18 March 2011
