Banks have put the $3.4 billion buyout of Japanese restaurant chain Skylark on hold, unwilling to underwrite the deal during the immediate aftermath of Japan’s earthquake, Reuters reported. Private equity firm Bain Capital is in exclusive talks to buy the restaurant chain from Nomura Holdings Inc., Reuters said. The deal, if completed, would become one of the largest private equity buyouts of a Japanese company.
2 min read · 18 March 2011
Cambridge, Mass.-based private equity firm Monitor Clipper Partners has promoted three: Daniel Jang takes the role of vice president; Julia Monfrini was promoted to associate, and Renee Meuse becomes operations manager. Jang joined the firm in 2006, and focuses on healthcare and logistics-related opportunities. Monfrini joined in 2009 and has been involved in Monitor Clipper’s investments in CMC Biologics and Microgame. Meuse joined MCP in 1999 and is responsible for managing the firm’s administrative and business operations.
2 min read · 18 March 2011
European venture investor DFJ Esprit said that it sold portfolio company TLC to Serco plc for 55.9 million pounds. The firm said the exit represents a 5x return on its investment. TLC is a supplier of customer relationship management technologies.
2 min read · 18 March 2011
General Mills is set to buy the 50% stake of yogurt maker Yoplait owned by PAI Partners. The food giant will pay about 800 million euro ($1.1 billion) for the stake, Reuters reported. The deal values Yoplait at 1.6 billion euros, which is four times the value of the business when PAI Partners invested in 2002, Reuters said. French dairy cooperative Sodiaal will retain the remaining 50 percent of the business.
3 min read · 18 March 2011
Singapore-based Sindicatum Carbon Capital Group, a climate change and global sustainable resources company, has acquired methane and emissions management firm Verdeo Group Inc. Financial terms of the deal were not released. Sindicatum Carbon Capital is backed by investors including Citigroup Venture Capital International, PineBridge Capital Partners, the University of Texas Investment Management Company, Black River Commodity Clean Energy Investment Fund and Capital E Advisors.
5 min read · 18 March 2011
Buyout shop BC Partners will buy mobile phone company Phones 4u from Providence Equity Partners, Reuters reported. Terms of the deal were not released. Phones 4u runs a 500-store business that pulled in more than $1.45 billion in 2010. Providence Equity Partners bought the company four and a half years ago, Reuters said.
1 min read · 18 March 2011
Intel Corp. has acquired Silicon Hive, a developer of processing technology for semiconductor systems-on-chip. The company was spun out of Philips Electronics in 2007, and backed by venture capital investors New Venture Partners and TVM Capital. Financial terms of the deal were not released. New Venture Partners led the Series A investment in Silicon Hive with participation from TVM Capital.
3 min read · 17 March 2011
Kosmos Energy, which is backed by private equity firms the Blackstone Group and Warburg Pincus, is lining up a bank group to secure $2 billion of seven-year debt in advance of its planned initial public offering, Reuters reported. Kosmos Energy is the owner of 23.9% of the Jubilee oil field in Ghana.
1 min read · 17 March 2011
Buyout shop the Carlyle Group has acquired a majority stake in The Foundry Visionmongers Ltd., a developer of visual effects software used in movies ranging from Avatar to Alice in Wonderland to Black Swan. Carlyle bought the stake from Advent Venture Partners. Terms of the deal were not released. The founders and management will continue to retain a significant minority stake in London-based The Foundry.
3 min read · 17 March 2011
GiftCertificates.com, which is owned by Los Angeles-based buyout shop Marlin Equity Partners, has hired Ian O'Brien as chief executive. O’Brien joins GiftCertificates.com from the private equity firm, where he served as chief technology officer. GiftCertificates.com offers corporate prepaid incentive products, consumer direct gift cards and gift card fulfillment services for merchants. The company was acquired by Marlin Equity in October 2010.
3 min read · 17 March 2011
