Praesidian Capital, which provides mezzanine capital for small and medium-sized companies, has received approval for its Praesidian Capital Opportunity Fund III to operate as a Small Business Investment Company, the firm announced. New York-based Praesidian Capital partners with small and mid-sized businesses, providing private debt capital. The firm managed more than $500 million in committed capital.
2 min read · 28 February 2011
Formula One racing team operator Williams Grand Prix Holdings has narrowed the price range for its initial public offering to between 25 euros and 27 euros ($34 to $37) per share, Reuters reported. The company’s founders Sir Frank Williams and Patrick Head, who started the company in 1977, own a majority stake. Austrian private equity investor Christian 'Toto' Wolff holds a roughly 10% stake Williams Grand Prix, Reuters said. The company will list on the Frankfurt exchange.
2 min read · 28 February 2011
Hercules Technology Growth Capital Inc. has named Glen Howard, Andy Laszlo, Jim Higgins and Patrick White as managing directors with its Early Stage and Lower Middle Market groups in Palo Alto, Calif. Howard, originally a co-founder of Hercules, re-joins as a managing director in the technology group. Laszlo was most recently co-founder, chairman and president of scanR Inc. Higgins was previously a business development officer with the Bank of Marin. White joins from American Capital.
4 min read · 28 February 2011
Expanding its reach into the energy efficient lighting market, Siemens business unit Orsram will acquire Siteco Lighting GmbH from Barclays Private Equity, Reuters reported. Financial terms of the deal were not released.
1 min read · 28 February 2011
Private equity giant Blackstone Group will pay $9.4 billion to acquire a portfolio of 558 U.S. shopping centers owned by Australia's Centro Properties Group, Reuters said. Blackstone beat out two other groups for the deal.
2 min read · 28 February 2011
UK-based online payment company Skrill Holdings is planning to raise about $250 million from a London listing in April, Reuters reported. The initial public offering is designed to help the company fund expansion, Reuters said. Skrill, which operates online payment site Moneybookers.com, is majority owned by private equity group Investcorp Technology Partners.
2 min read · 28 February 2011
Mauritius-based private equity fund Infrastructure India Holdings Fund will take a 6% stake in Aegis Logistics Ltd, Reuters reported. The proceeds of the sale will help Aegis fund its port terminal infrastructure projects, Reuters said.
1 min read · 28 February 2011
Australian retailer Woolworths Ltd. will pay 340 million Australian dollars ($344 million) for wine direct marketer Cellarmasters, Reuters reported. The company is buying Cellarmasters from private equity firm Archer Capital.
1 min read · 28 February 2011
Blackstone Group is still in the running for German outdoor apparel and equipment maker Jack Wolfskin, with final bids due in the next couple of days, Reuters reported. U.S.-based jeans maker VF Corp., which owns outdoor brand The North Face, is also in the running. Jack Wolfskin is being sold by Barclays Private Equity and Quadriga Capital.
2 min read · 25 February 2011
Publicly traded energy company Exelon Corp. has named Drew Ierardi to the post of portfolio manager for private market investments. Ierardi was formerly an associate at Guggenheim Partners, where he served in the hedge fund group. He has worked previously in various roles at Morgan Creek Capital Management and Cambridge Associates.
1 min read · 25 February 2011
