Private Equity
Swiss asset manager Capital Dynamics AG announced Thursday that it had invested an undisclosed amount in a 5.7 megawatt solar energy project in the United States. The project is located in Massachusetts.
2 min read · 02 February 2012
Buyout firm CVC will employ more than $1.2 billion in debt in its buyout of Ahlsell, Sweden's largest supplier of tools and building materials, Reuters reported Thursday. According to Reuters, it is the largest loan to back a leveraged buyout in Western Europ since WorldPay's acquisition by Advent International and Bain Capital in 2010.
2 min read · 02 February 2012
Lightyear Capital has acquired Paradigm Management Services, a provider of healthcare management services, from Sterling Partners. Middle-market investment bank Harris Williams & Co. announced the deal, which closed on Wednesday. Terms were not released. Harris Williams & Co advised Paradigm.
3 min read · 02 February 2012
KEMET Corp., a listed manufacturer of tantalum, ceramic, aluminum, film, paper and electrolytic capacitors, will acquire all of the outstanding shares of Niotan Inc. from Denham Capital Management. Niotan has been a significant supplier of tantalum powder to KEMET for several years, the company said in a statement. Terms of the deal were not released.
5 min read · 02 February 2012
H.I.G. Capital, the Miami-based buyout shop, announced Thursday that it has completed the sale of Service Net to Chartis U.S. Inc. Chartis is a wholly owned subsidiary of American International Group. Terms of the deal were not released. H.I.G. Capital has invested in Service Net twice in the past several years: The firm recapitalized Service Net in 2004, and exited its investment in 2007. In 2009, H.I.G. re-acquired the company.
3 min read · 02 February 2012
The Benetton family has set a 4.60 euro (about $6) per share price to buy out minority investors and take its clothing company private, Reuters reported Wednesday. The tender will cost Edizione, the holding company of the Benetton family which owns 67.1% of the clothing group, up to 276.6 million euros, Reuters wrote. The bid price represents a 15.6% premium on Tuesday's stock price -- when the plan to delist was first announced. The shares have been suspended since then, Reuters wrote.
2 min read · 02 February 2012
Publicly traded ShoreTel Inc. said Thursday that it would acquire M5 Networks in a deal valued at $146.3 million. The deal includes $84 million in cash, 9.5 million shares of ShoreTel stock and a potential $13.7 million in additional milestone payments. ShoreTel is a maker of IP phone systems.
5 min read · 02 February 2012
AVG Technologies, the anti-virus software company backed by Intel Capital, Grisoft Holdings and private equity firm TA Associates, has priced its initial public offering at $16 per share, Reuters reported Wednesday. The company, which competes with Symantec and McAfee, was expecting to price its IPO of 8 million shares between $16 and $18 a share.
1 min read · 02 February 2012
Angelo, Gordon & Co. has completed the sale of Global Compliance Services Inc. to ELT Holding Co. ELT is a portfolio company of the Riverside Co. Terms of the deal were not released.
3 min read · 02 February 2012
Seattle-based GenNx360 Capital Partners has added Jerod Pierce to its management company's operating team. Pierce worked previously at the investment banking firm of D.A. Davidson & Co. GenNx360 focuses on buyouts of industrial business to business companies in the middle market.
2 min read · 02 February 2012
