Private equity firm Cerberus Capital Management will pay $94.4 million in cash to buy timeshare operator Silverleaf Resorts, Reuters reported. The firm will pay $2.50 per share for Silverleaf, representing a 75% premium over the company’s closing price Thursday. Cerberus, which has $23 billion under management, has agreed to provide equity financing for the full amount of the deal, Reuters said.
1 min read · 04 February 2011
Biotie, a Finland-based drug development company, has agreed to pay 93.6 million euros ($127 million) for Switzerland-based biotherapeutics company Synosia Therapeutics, providing an exit for a slew of venture investors. 5AM Ventures, Aravis SA, Investor Growth Capital, Novo A/S, Swiss Helvetia Fund, UCB S.A., Versant Venture Management and Abingworth Management had backed Synosia.
1 min read · 04 February 2011
Fulida Group Holdings has acquired Neucel Specialty Cellulose from a consortium of investors led by Wellspring Capital Management. Financial terms of the deal were not released. Fulida is one of the world’s largest producers of rayon. Neucel produces hemlock based chemical cellulose that is used in manufacturing processes including rayon filament for garments, pharmaceuticals, consumer products, film, food thickeners and LCD screens.
3 min read · 04 February 2011
Investment bank and asset manager Richmond Park Capital has acquired fund-of-hedge-funds firm Olympia Capital from investors including Sagard Private Equity Partners, Reuters reported. Financial terms of the deal were not released. Olympia Capital is based in Paris.
1 min read · 04 February 2011
Private equity firm Bencis Capital Partners will acquire Desso Group BV, a textile flooring company based in The Netherlands and owned by NPM Capital. Financial terms of the deal were not released. Bencis Capital partners has offices in The Netherlands and Belgium.
4 min read · 04 February 2011
Winona Capital Management and Longview Merchant Banc have invested an undisclosed amount in Tacoma, Wash.-based Johnny’s Fine Foods. The company is a manufacturer and marketer of dry seasonings, bottled dressings and marinades. Winona Capital Management focuses on acquisitions and growth capital, and has offices in Chicago and Seattle. Longview Merchant Bank is based in Evanston, Illinois.
2 min read · 04 February 2011
Egyptian private equity firm Citadel Capital will resume operations on Sunday, Reuters reported. The firm said, while its operations in other countries have continued as usual, that unrest in Egypt may have a short-term impact on its investment and divestiture plans, Reuters wrote.
1 min read · 03 February 2011
BJ's Wholesale Club Inc., under pressure from potential hostile bidder Leonard Green & Partners, may put itself up for sale, Reuters reported. Reuters said that BJ’s had no timetable for a sale. Private equity firm Leonard Green & Partners acquired a 9.5% stake in the company this past summer.
2 min read · 03 February 2011
2 min read · 03 February 2011
Moscow-based venture fund Runa Capital plans to increase its fund size to $50 million, from $30 million, the firm said. The firm focuses on early-stage Russian technology start-ups, and plans to close eight-to-ten deals during 2011.
2 min read · 03 February 2011
