Chris Sklarin has joined Edison Ventures as an investment manager, focusing on investment opportunities in Ohio and western Pennsylvania, especially in the mobile, healthcare IT and ecommerce sectors. Sklarin is also director of business development with BioEnterprise, a Cleveland-based venture accelerator. Prior to BioEnterprise, he was director of business development with Chrysalis Ventures.
2 min read · 11 March 2011
Polish cell phone operator Polkomtel is opening the books to seven short-listed buyers as it moves closer to a sale. The deal could reach as high as $7 billion, Reuters reported. Apax Partners, Kohlberg Kravis Roberts & Co. and Providence Equity Partners are reportedly among the private equity bidders, as well as a joint bid from TPG Capital and Blackstone.
2 min read · 11 March 2011
MMI Holdings, which is backed by Kohlberg Kravis Roberts & Co., has cancelled its 1 billion Singapore dollar ($785.7 million) initial public offering due to recent market volatility, Reuters reported. KKR took MMI private in 2007 in a deal valued at 1.01 billion Singapore dollars. MMI is a precision engineering firm specializing in electrical and mechanical parts for computer hard disks.
1 min read · 11 March 2011
Private equity firm Bain Capital is in final talks to buy Japanese restaurant chain Skylark Co. from Nomura Holdings Inc., Reuters reported. The deal was estimated at 280 billion yen ($3.4 billion), including debt. Nomura Principal Finance – Nomura’s buyout unit –invested in Skylark in 2006 through a management buyout with UK-based private equity firm CVC Capital Partners. It currently holds a 77.8% stake in the restaurant chain along with other investors, Reuters wrote.
3 min read · 11 March 2011
Miami-based Empire Investment Holdings has named Dennis Mahoney to the post of managing director. Mahoney will be responsible for conducting due diligence on investments, leading transitions and integrations, and working on the firm’s oversight committee. Before joining Empire Investment, Mahoney held various positions with Lanier Worldwide, Platinum Equity, WebMD and Allscripts.
1 min read · 10 March 2011
Torch Hill Investment Partners has acquired a majority stake in D-Back Acquisition Co., the parent company of Diamondback Tactical. The private equity firm is providing several million dollars of growth equity to help Diamondback expand its business. The company provides armor protection systems, tactical gear and personal products for law enforcement, federal and military markets. Torch Hill is based in Washington D.C. Diamondback is based in Spindale, N.C.
2 min read · 10 March 2011
Indian generator maker Powerica Ltd., which is backed by the private equity arm of Standard Chartered, has filed a prospectus to raise $200 million in an initial public offering, Reuters reported. The Mumbai-based company is expected to launch the IPO in June, Reuters reported. Standard Chartered private equity owns 12% of the company, having invested $50 million in Powerica in 2007. The firm will sell a significant portion of its holding in the company, Reuters wrote.
2 min read · 10 March 2011
2 min read · 10 March 2011
Zurich-based private equity firm Zurmont Madison Management AG has added Robin Richiger as a new partner in its private equity division. Richiger was most recently head of mergers and acquisitions at Bank Vontobel AG.
2 min read · 10 March 2011
Norma, a maker of vehicle clamps, is planning to float on the Frankfurt Stock Exchange during the first half of 2011, Reuters reported. Norma is owned by British private equity firm 3i Group. The company aims to raise about 150 million euro ($208.1 million) through the offering.
1 min read · 10 March 2011
