India's RPG Group and private equity firm Advent are among the bidders for the Carbon Black unit of Germany's unlisted chemical maker Evonik Industries, Reuters reported. Advent is one of two U.S.-based private equity firms interested in the business unit, Reuters said.
2 min read · 03 February 2011
Teakwood Capital has closed its second fund, Teakwood Capital II, with an undisclosed amount. The fund’s limited partners include a mix of family offices and institutions, the firm said. Teakwood Capital II has also closed its first transaction, an investment in computer-based testing company ExamSoft. Teakwood was formed in 2005, and is based in Dallas.
2 min read · 03 February 2011
Private equity-backed pipeline company Kinder Morgan is expected to file terms for its initial public offering before U.S. markets open on Thursday, Reuters reported. The company is expected to file to sell shares for $26 to $29 each, and price the IPO on Feb. 10, Reuters said. Chief Executive Richard Kinder led a group of investors, including Goldman Sachs’ buyout fund, The Carlyle Group and Riverstone Holdings, in a 2007 deal to take the company private. Goldman Sachs and Barclays Capital are leading the underwriters on the Kinder Morgan offering, Reuters said.
2 min read · 03 February 2011
TheStreet.com has named Christopher Marshall as its chairperson. Marshall steps in for founder Jim Cramer, who has served as chairman since 2008. Marshall currently serves as a General Partner at private equity firm Technology Crossover Ventures. Prior to joining TCV in 2008, he spent 12 years at venture capital firm Trident Capital.
3 min read · 03 February 2011
Corning Inc. will acquire MobileAccess Networks Inc., a provider of wireless network technology, from a consortium of investors including Viola Group, Pitango Venture Capital, Poalim Ventures, Eurofund L.P., DeA Capital S.p.A., HarbourVest Partners, Ziegler Meditech Equity Partners and CDB Web Tech. The deal is expected to close during the first quarter of this year.
4 min read · 02 February 2011
Investment bank Greenhill & Co. has added former Pennsylvania Governor Edward Rendell as a senior advisor. In his new role, Rendell will focus on expanding Greenhill's client advisory activities in public-private partnerships, infrastructure projects and advising governments on various financial matters.
2 min read · 02 February 2011
Boca Raton, Fla.-based middle market buyout shop Sun Capital Partners has invested an undisclosed amount in The SCOOTER Store. Based in New Braunfels, Texas, company makes scooters for elderly and disabled people. Financial terms of the investment were not released. McColl Partners advertised the seller, a SCOOTER Store representative told peHUB. A source familiar with the transaction noted that Democrats' landmark healthcare legislation that passed in 2010 impacted the SCOOTER Store's top line, but that the deal was not a distressed investment. Sun takes control of the SCOOTER Store's board, but not a majority stake in the company. It's possible that the SCOOTER Store will make add-on deals.
3 min read · 02 February 2011
Avenues: The World School, an education company developing a system of independent schools, has raised $75 million from investors including LLR Partners and Liberty Partners. The financing is aimed at helping Avenues open a flagship campus in Manhattan. Philadelphia-based buyout shop LLR Partners has more than $1.4 billion under management.
2 min read · 02 February 2011
Middle-market buyout shop SFW Capital Partners has acquired MD Buyline, a provider of strategic information and analyses to healthcare services companies. Financial terms of the deal were not disclosed. MD Buyline was formed in 1983, and is based in Dallas, Texas. SFW Capital is based in Rye, New York.
2 min read · 02 February 2011
GE has closed its $3 billion acquisition of energy infrastructure and service provider Dresser Inc. The Addison, Texas-based company was owned by Riverstone Holdings LLC and First Reserve Corporation. First Reserve is an energy industry investor, while Riverstone Holdings is a PE firm focused on the energy and power sectors.
3 min read · 02 February 2011
