Buyout shop Kohlberg Kravis Roberts & Co. and France's Wendel Investissement plan to sell a 15% stake in French electronics company Legrand, Reuters reported. Kohlberg Kravis Roberts & Co. will sell 18.7 million shares and Wendel will part with 21.3 million shares. Following the deal, the two firms will will jointly own about 21.3 percent of Legrand's share capital, Reuters said.
1 min read · 04 March 2011
Middle-market buyout shop Norwest Equity Partners has exited its investment in Amcom Software, selling the company to publicly traded USA Mobility Inc. Financial terms of the deal were not released. Norwest manages $4.6 billion of capital through a series of equity and mezzanine funds. The firm is currently investing NEP IX, a $1.2 billion fund.
2 min read · 04 March 2011
Graham Partners has acquired SP Industries, a designer and manufacturer of medical equipment and components used in pharmaceutical development. Financial terms of the deal were not released. Graham Partners, which is based in the Philadelphia suburbs, is a lower-middle-market private equity firm with more than $1.5 billion under management.
2 min read · 03 March 2011
BMO Capital Markets, the investment and corporate banking arm of BMO Financial Group, has named Richard Vieira managing director and head of technology. Based in Boston, Vieira worked Previously for Broadview International and later at Jefferies & Co., which acquired Broadview in 2003. He joins the firm as it moves to expand its coverage of the broad technology markets.
3 min read · 03 March 2011
In what is expected to be the largest European I.P.O. so far this year, Denmark's ISS set a price range of 100 to 135 Danish crowns ($18.70 to $25.25) per share for its $2.5 billion Copenhagen listing, Reuters reported. The outsourcing company is targeting proceeds of up to 13.3 billion Danish crowns ($2.5 billion) from the sale of new shares, in order to pay down debt, Reuters said. Private equity investors Goldman Sachs and EQT bought ISS in a 2005 leveraged buyout.
2 min read · 03 March 2011
John Varghese, the chief executive of VentureLink Innovation Fund Inc., is planning to resign from the fund’s manager, VL Advisors Inc., and sell his interest to the remaining partners in the fund. His exit is expected to wrap up by April. Geoff Horton, one of the two remaining partners of VL Advisors, will likely take the CEO post.
3 min read · 03 March 2011
Brown Brothers Harriman & Co. has promoted Jared Keyes and Jeffrey Meskin to partner. Keyes joined the firm in 1994 as a corporate banker. He has responsibility for the banking activities of the New York office. Meskin joined in 2000 and works currently as a co-manager of BBH Capital Partners private equity funds.
4 min read · 03 March 2011
Japanese trading house Itochu Corp. has agreed to buy tire retailer Kwik-Fit from private equity firm PAI Partners in a deal valued at 637 million pounds ($1.04 billion), Reuters reported. The acquisition, which follows Itochu’s focus to expand its businesses that are more directly linked to consumers, Reuters said.
1 min read · 03 March 2011
Private equity shop Resilience Capital Partners has invested an undisclosed amount in Completion Industrial Minerals. The deal is the third such investment under Resilience’s industrial minerals platform, North Coast Minerals. Resilience Capital is based in Cleveland. Completion Industrial is based in Marshfield, Wis.
2 min read · 03 March 2011
Danish outsourcing group ISS will publish the details of its Copenhagen listing in which it hopes to raise as much as $2.5 billion, Reuters reported. The details should be released Thursday. Private equity owners Goldman Sachs and EQT bought ISS in a 2005 leveraged buyout, and will keep almost all their shares, with their stock subject to a six-month lock-up period after the listing, Reuters wrote.
2 min read · 03 March 2011
