Rubber producer Yulex Corp. has closed on $15 million in financing led by Argonaut Private Equity. The money will help Yulex expand its natural rubber production capabilities, the company said in a written statement. Argonaut Private Equity was founded in 2002 and is based in Tulsa, Oklahoma.
2 min read · 16 March 2011
German chemicals maker Evonik said it is considering selling a stake in its real estate division, Reuters reported. The company is partially owned by private equity firm CVC, which stated recently that the real estate division could be included in Evonik's planned initial public offering, Reuters said.
1 min read · 16 March 2011
Private investment firm First Reserve Corp. has expanded its energy-infrastructure team, adding James Berner as director, and Adi Blum and Mark Saxe as vice presidents. Berner joins from from General Electric Capital Energy Financial Services, where he was a managing director and led coverage of the U.S. utility sector. Saxe joins from Loews Corp., where he was a director. Blum joins from High Road Capital Partners, a middle market private equity firm where he served as a vice president.
3 min read · 16 March 2011
Palmer Square Capital Management has named Angie Knighton Long as its chief investment officer. She joined the firm in February. Previously, Long worked in various management roles and trading positions at JPMorgan Chase & Co. Palmer Square Capital Management provides investment advisory services focused specifically on alternative investments such as hedge funds and private equity funds.
3 min read · 16 March 2011
Zillow Inc., a real estate data company backed by Legg Mason Capital Management, Benchmark Capital and PAR Capital Management – has hired Citigroup to manage its initial public offering, Reuters reported, citing a Bloomberg story. The exact timing of the IPO was not released. Zillow is based in Seattle.
1 min read · 16 March 2011
Expanding it’s presence in India, Goldman Sachs plans to buy Benchmark Asset Management Co., a firm with about $700 million in assets under management, Reuters reported. Terms of the deal were not released, though local media reported that Goldman will pay roughly $29 million. Goldman Sachs has invested about $2 billion in private equity in India since 2007, including a stake in insurer and hospital operator Max India Ltd., Reuters wrote.
2 min read · 16 March 2011
Cytovance Biologics has closed on $22.5 million in growth capital from Greenwich, Conn.-based firm Great Point Partners. Cytovance, which is based in Oklahoma City, is a manufacturer of mammalian and microbial biologics for biotechnology and pharmaceutical customers. The new funding will help Cytovance to expand its manufacturing operations. As a result of the round, Great Point managing directors Jeffrey Jay and David Kroin, as well as senior vice president Noah Rhodes, will join Cytovance's board.
4 min read · 15 March 2011
Clearlake Capital Group has led a $135 million recapitalization of Platinum Energy Solutions Inc., acquiring a majority stake in the company. The firm partnered with Layton Corp. and Platinum Energy’s management on the recap. The investment was made from Clearlake's $415 million Clearlake Capital Partners II fund, which closed in January 2010. Specific terms of the deal were not disclosed. Platinum Energy is based in Houston.
2 min read · 15 March 2011
Spigit, a provider of “collaborative innovation management software,” has sealed $10 million in fresh capital from private equity firm Warburg Pincus. The newest funding brings Warburg Pincus’ investment in the company to $20 million, and Spigit’s total funding to $26 million. The money will help Spigit expand its customer base, and bolster its development and sales and marketing.
3 min read · 15 March 2011
Chinese Internet company Qihoo 360 Technology Co Ltd. plans to raise up to $200 million in an initial public offering, Reuters reported. The I.P.O. would provide an exit for a slew of investors including firms Sequoia Capital, Highland Capital, Redpoint Capital, Matrix and IDG. UBS Investment Bank and Citi are leading underwriters. Quihoo is a provider of Internet and mobile security products.
2 min read · 15 March 2011
