UK-based buyout shop ECI Partners is mulling a sale of portfolio company, Bargain Booze, Reuters reported, citing an article in the Sunday Times. ECI has hired accountancy group KPMG to do a strategic review of the drinks retailer chain, including options including a sale or refinancing of the company.
1 min read · 14 February 2011
Affinity Equity Partners has sold its majority stake in Singapore-based Jaya Holdings Limited to a Deutsche Bank-led consortium, Reuters reported. The consortium paid 202.6 million Singapore dollars ($158 million) for the troubled shipping company, Reuters said. Affinity acquired its stake in Jaya in 2006.
2 min read · 14 February 2011
The Blackstone Group has added Martin Donnelly as a managing director in its Sydney, Australia, office. Donnelly will head business development and client relations in Australia and the Pacific Rim for Blackstone Alternative Asset Management, the firm said. He was most recently Deputy Chief Executive Officer at ING Investment Management Australia. Blackstone opened its Sydney office in December 2009.
2 min read · 14 February 2011
New York-based private equity firm Veritas Capital has completed its $525 million acquisition of CPI International. CPI is a provider of microwave, radio frequency, power products for defense, communications, medical, scientific and other applications. CPI is based in Palo Alto, Calif.
4 min read · 11 February 2011
Private equity shop Monitor Clipper Partners has acquired a minority interest in ScriptSave. Tuscon-based ScriptSave provides customized prescription drug benefit products for consumers, which are delivered through retail pharmacies, health insurance companies and employers. McColl Partners LLC, an independent investment banking firm specializing in middle-market companies, served as financial advisor to ScriptSave. Monitor Clipper Partners is based in Cambridge, Mass.
2 min read · 11 February 2011
Middle-market private equity firm Irving Place Capital has appointed Michael Feiner to the post of "Senior Advisor of Human Capital." Feiner will work with Irving Place portfolio companies to help them make connections between business results, individuals and leadership, the company said in a release. Feiner was previously senior vice president and chief people officer for PepsiCo, where he worked for 20 years.
2 min read · 11 February 2011
Shares of Gevo Inc., a manufacturer of renewable chemicals and biofuels, closed at $16.44, up 9.6%, after its first day of trading on the Nasdaq, Reuters reported. The company is backed by venture investor Khosla Ventures. Based in Englewood, Colo., Gevo plans to manufacture isobutanol, which can be used in blended fuels and the production of plastics, fibers and rubbers, Reuters said. Gevo said the proceeds of the IPO will help it acquire ethanol facilities and retrofit them for isobutanol production.
2 min read · 11 February 2011
Private equity-backed pipeline company Kinder Morgan priced its initial public offering above the expected range, Reuters reported, raising about $2.86 billion in the largest U.S. energy initial public offering since 1998. Kinder Morgan sold 95.5 million shares for $30 each in a deal that values the company at more than $21 billion, Reuters wrote. Kinder Morgan is backed by the Carlyle Group and Goldman Sachs's buyout fund.
2 min read · 11 February 2011
Blockbuster Inc. is planning to put itself up for sale after failing to raise more cash from creditors, Reuters reported, citing a story in the Wall Street Journal. The company, which filed for bankruptcy last year, is planning to solicit buyers through an auction, Reuters reported. Carl Icahn and a consortium led by hedge-fund Monarch Alternative Capital are the leading contenders, Reuters wrote.
2 min read · 11 February 2011
San Francisco-based private equity firm Golden Gate Capital has acquired consulting and managed services provider CedarCrestone. Financial terms of the deal were not released. Alpharetta, Ga.-based CedarCrestone was formed in 2005. Golden Gate plans to create partnerships between CedarCrestone and Sierra Systems, another Golden Gate portfolio company in the consulting sector.
3 min read · 10 February 2011
