Redwood City, Calif.-based data storage start-up Racktivity has named Mark Harris vice president of marketing and product marketing, and Kris De Peuter vice president of operations and manufacturing. Prior to joining Racktivity, Peuter was managed supply chain and operations for INEWIT, a Belgian start-up company. Harris has held various positions at companies including Cyclades Corp, Avocent Inc. and Raritan Computer. Racktivity is backed by venture investors including Partech International and Big Bang Ventures.
3 min read · 01 March 2011
Private equity firm the Carlyle Group will pay 70 billion yen ($856.9 million) to buy Japanese bearings parts maker Tsubaki Nakashima Co. from a unit of Nomura Holdings Inc., Reuters reported. The deal includes debt and equity.
1 min read · 01 March 2011
Daiichi Sankyo has agreed to buy Plexxikon for $805 million, providing an exit for venture investors including Belgian firm GIMV. Future milestone payments could total an additional $130 million, the company said. Plexxikon develops novel small molecule pharmaceuticals to treat human disease. Gimv first invested in Plexxikon during a series B financing in 2002. The company is also backed by Alta Partners, ATV, Walden International, Pappas Ventures and CW Ventures.
2 min read · 01 March 2011
General Mills Inc. and Nestle SA are among leading candidates to buy a 50% stake in French yogurt maker Yoplait, Reuters said, citing a Bloomberg report. The two food companies have submitted bids to private equity firm PAI Partners, which is selling the stake, and have valued the yogurt company at roughly $2.2 billion. Axa Private Equity is the only remaining buyout firm in the race, Reuters wrote.
2 min read · 01 March 2011
Buyout shop Kohlberg Kravis Roberts & Co. has added Mubashir Mukadam as European head of special situations for the firms $14 billion asset management platform: KKR Asset Management LLC. Based in London, he will focus on secondary purchases of distressed assets, as well as rescue lending and structured investments. Mukadam was most recently a managing director at the hedge fund York Capital Management.
3 min read · 01 March 2011
Nordic private equity firm Accent Equity has acquires Autotube, a provider of automotive components, from Specma Hydraulic AB, a unit of Investment AB Latour. Financial terms of the deal have not been released. The deal is expected to close in March. Founded in 1994, Accent is based in Stockholm and has more than $1.5 billion under management.
2 min read · 01 March 2011
Monroe Capital, a firm focused on middle-market and lower-middle market investments, has held a first close of its $250 million fund: Monroe Capital Partners Fund LP. Specific details of the close were not released. The new fund will provide senior and junior mezzanine debt and equity co-investments for private equity-sponsored deals, the firm said. Chicago-based Monroe Capital has more than $700 million under management.
2 min read · 01 March 2011
Private equity firm Francisco Partners has closed its third fund, Francisco Partners III, L.P., with $2 billion in commitments. Francisco Partners focuses on investments in middle market information technology companies, including buyouts, recaps and restructuring. The firm, which has offices in San Francisco and London, has raised roughly $7 billion since 1999. Cooley LLP acted as legal advisor to the firm.
2 min read · 01 March 2011
2 min read · 28 February 2011
German cable operator Kabel may make its market debut before Easter, if it’s private equity owner, Swedish firm EQT, decides not to sell the group, Reuters reported. Five firms have made offers to buy Kabel, Reuters wrote, including CVC, Cinven and Hellman and Friedman.
2 min read · 28 February 2011
