Looking to bolster its online sports advertising portfolio, Perform Group has acquired Goal.com, an online football portal, from a group of investors including venture capital firm Bessemer Venture Partners. Terms of the deal were not released.
3 min read · 23 February 2011
Spanish infrastructure firm Abertis, which is backed by private equity firm CVC, is studying a plan to spin off its car parking and logistics units, Reuters said, attributing the plan to CVC's desire to extract value from the company. Abertis plans to create a new unlisted subsidiary, Saba Infraestructuras, which will comprise its car parks and logistics parks businesses and would allow new institutional investors to contribute, Reuters wrote. CVC owns roughtly $15.5% of Abertis.
2 min read · 23 February 2011
Private equity firm Terra Firma is hopeful that it will return all its investors' money despite losing $2.75 billion on music group EMI, Reuters reported, citing a letter from the firm’s chairman, Guy Hands. Terra Firma bought EMI in 2007 for 4 billion pounds, but lost control of the company to Citigroup after EMI defaulted on debt. Citigroup had backed the buyout with 2.6 billion pounds of loans.
2 min read · 23 February 2011
Private equity firm Penta Investments will exit its investment in Polish retail chain Zabka, selling the company to British retailer Tesco, Reuters reported, citing an article in the Polish daily Puls Biznesu. The value of Zabka’s 2,350 convenience stores are estimated at about $560 million. Negotiations for the acquisition are still ongoing, said Reuters.
1 min read · 23 February 2011
Lockheed Martin Corp. is selling the Pacific Architects and Engineers Inc. military services business to private equity firm Lindsay Goldberg, Reuters reported. Financial terms of the deal were not disclosed. The deal is expected to close during the second quarter. Lockheed acquired PAE in 2006. The business unit provides services in mission readiness, peacekeeping and disaster relief activities, Reuters said.
1 min read · 23 February 2011
Rockville, Maryland-based media company Access Intelligence, which is backed by private equity investor Veronis Suhler Stevenson, will acquire Red7 Media, a provider of content for the events industry. Red7 Media operates the Event Marketing Institute, various industry conferences and publishes FOLIO and Audience Development magazines.
4 min read · 22 February 2011
Los Angeles-based private equity firm Aurora Capital Group has promoted five to new posts with its Aurora Private Equity and Aurora Resurgence funds. In the private equity fund, David Alpern was promoted to partner, and Michael Marino was promoted to principal. Joshua Phillips was promoted to partner with Aurora Resurgence, a special situations fund focused on middle-market companies facing operational or financial challenges. Peter Leibman and Ryan McCarthy were both promted to principal with Aurora Resurgence.
5 min read · 22 February 2011
Real estate-focused private equity firm Madison International Realty has closed its latest fund, Madison International Real Estate Liquidity Fund IV LP, with $510 million in commitments. New York-based Madison acquires illiquid or partial ownership interests in properties and portfolios from investors seeking an early exit. The firm also provides equity for recapitalizations and debt restructurings.
2 min read · 22 February 2011
Hospital operator HCA, which is owned by investors including buyout shops Bain Capital and Kohlberg Kravis Roberts & Co., has set terms for an initial public offering, Reuters reported. The company plans to raise $3.7 billion, selling 124 million shares priced between $27 and $30, Reuters said. HCA owns and operates more than 160 hospitals in the United States and England, and was taken private in a $21 billion deal in late 2006.
1 min read · 22 February 2011
Publicly traded Protox Therapeutics Inc. has added William Rohn and Amit Sobti to its board of directors. Rohn is a former chief operating officer for biotech company Biogen-Idec. Sobti is a principal with Warburg Pincus, where he focuses on investments in healthcare. He worked previously at Rhone Capital, a mid-market private equity firm.
2 min read · 22 February 2011
