Soundview Maritime LLC, a private equity funded owner and operator of mid-sized container ships, has added maritime industry veteran Moritz Mittelbach as an advisor. Mittelbach worked most recently with Rickmers Holding GmbH, a group with activities in liner shipping, ship-owning, and ship management. Investors Littlejohn & Co. and Northern Shipping Funds formed Soundview in 2010. Greenwich, Connecticut-based Littlejohn & Co. is currently investing from Littlejohn Fund IV, L.P., which has more than $1.3 billion in capital commitments.
3 min read · 08 March 2011
Thomas H. Lee Partners will recapitalize payment services company MoneyGram International Inc. in a deal that gives the private equity firm a 55% stake in MoneyGram, Reuters reported. Under the terms of the recapitalization agreement, Thomas H Lee Partners will convert all of its Series B shares into common stock. Goldman Sachs will convert all of its Series B-1 preferred shares into Series D participating convertible preferred stock, Reuters wrote. MoneyGram is based in Minneapolis, Minnesota.
2 min read · 08 March 2011
Private equity firm Kohlberg Kravis Roberts & Co. founders Henry Kravis and George Roberts each received about $19.5 million in carried interest during the year, Reuters reported, citing a filing with the Securities and Exchange Commission. Carried interest is typically the 20% that buyout executives take from the profit made on their funds, after compensating their investors, Reuters wrote.
1 min read · 08 March 2011
Private equity firm CVC Capital Partners has received approval to amend the terms on Luxembourg-based Flint Group's existing $1.8 billion loans, Reuters reported. Lenders to Flint agreed to extend the maturity of the debt by two years, which originally expired between 2013 and 2016, Reuters wrote.
2 min read · 08 March 2011
Buyout shop Bain Capital and the Government of Singapore Investment Corp. will invest an undisclosed amount in Hero Investments, Reuters reported. The money will help fund Hero's $851 million acquisition of Honda Motors' 26% stake in its Indian joint venture. The funds will be used to retire a significant portion of debt raised for the deal, Reuters said.
1 min read · 08 March 2011
Ark Holdings Inc., which owns skilled nursing homes, has acquired HMR Advantage Health Systems, a South Carolina-based owner and operator of long-term care centers. The deal was valued at $143.8 million. Ark Holdings is backed by Behrman Capital. HMR provides post-operative therapy to long-term skilled nursing. The company has 21 centers across South Carolina, North Carolina and Georgia. Behrman Capital established Memphis, Tenn.-based Ark Holdings in July 2007.
2 min read · 07 March 2011
Aloe Private Equity sold about 3.8% stake in Indian clean energy producer Greenko Group for about 10.1 million pounds ($16.2 million), Reuters reported. Following the sale Aloe will hold about 14.1 percent stake in Greenko, remaining the company’s largest shareholder, Reuters said.
1 min read · 07 March 2011
Henrik Ringmar has been named chief executive and managing director of Jetpak. Ringmar is currently managing director of Tele2’s Dutch subsidiary. He is also executive vice president and a member of Tele2’s group management. He begins his new role with Jetpack in May. The Jetpak Group provides door-to-door deliveries in the Nordic region, and is backed by private equity firms Polaris Private Equity and Accent Equity.
2 min read · 07 March 2011
Insight Pharmaceuticals, a portfolio company of Swander Pace Capital, has acquired home pregnancy testing company e.p.t. The acquisition adds to Insight Pharmaceuticals' portfolio of over-the-counter and personal care products. Financial terms of the deal were not released. Swander Pace Capital has offices in San Francisco and Bedminster, N.J.
2 min read · 07 March 2011
Terumo Corp. will pay $2.6 billion to buy U.S. medical device company CaridianBCT from a Swedish firm Gambro, Reuters reported. The deal would make the largest acquisition by a Japanese medical device maker, Reuters wrote. Gambro is jointly controlled by Investor AB and private equity funds manager EQT IV.
2 min read · 07 March 2011
