Private equity firms Exponent Private Equity and Intermediate Capital Group have agreed to pay 205 million pounds ($326.7 million) to buy the meat-free business of Britain’s Premier Foods, Reuters reported. The sale of the business unit, which includes vegetarian products and meat-free sausages, will help Premier reduce its debt, Reuters said.
1 min read · 24 January 2011
One of buyout shop TPG Capital’s largest funds is under par, reported Reuters, citing an article in the Financial Times. At the end of 2010, TPG’s $17.4 billion fund V was worth less than 100 cents on the dollar. According to the Financial Times, TPG has told investors that the fund was worth about 80 cents on the dollar.
1 min read · 24 January 2011
Perry Ellis International Inc. will pay roughly $70 million to buy Rafaella Apparel Group from private equity firm Cerberus Capital Management, Reuters reported. The deal is expected to close by the end of January. Rafaella, which sells its sportswear and workwear in department stores, had revenues of roughly $122 million for the trailing 12-month period ended Sept. 30, Reuters wrote.
2 min read · 07 January 2011
E.L.F. Cosmetics has raised an undisclosed amount of financing from consumer-focused private equity firm TSG Consumer Partners. Terms of the deal were not released, but the company said that TSG took a minority stake. ELF aims to expand its online business, and well as its retail presence at major retailers like Target and Dollar General. TSG has offices in San Francisco and New York.
4 min read · 07 January 2011
Private equity firm White Deer Energy has invested $52 million into O-Tex Pumping, including $42 million for existing equity and $10 million to acquire newly issued shares. O-Tex will use the proceeds to expand its cement pumping truck fleet and to open additional locations. Houston and New York-based White Deer has about $821 million under management and focuses on investments in energy exploration and production.
3 min read · 07 January 2011
The Pittsburgh Life Sciences Greenhouse, which provides capital investment to regional life sciences companies, has closed on $5 million for its PLSG Accelerator Fund. The fund will make venture investments in life sciences companies located in western Pennsylvania, and plans to raise a total of $10 million.
2 min read · 07 January 2011
After consulting with the firm for the past year, New Leaf Venture Partners has named Reza Zadno venture partner. Zadno focuses on medical devices and previously founded founded Visiogen – now part of Abbott Medical Optics. He will help New Leaf identify and assess prospective investments. New Leaf has $1.1 billion under management. The firm has offices in Menlo Park, Calif., and in New York.
3 min read · 07 January 2011
ThermaSys Corp., which is backed by private equity firm Sun Capital Partners, has acquired Covrad Holdings and Serck Heat Transfer, two U.K.-based manufacturers of heat transfer products. Financial terms of the deal were not released. Montgomery, Ala.-based ThermaSys is a supplier of copper, brass and aluminum heat-exchanger components.
3 min read · 07 January 2011
ISS, a private equity-backed Danish outsourcing firm, has formally ended talks for an $8.5 billion buyout by private equity firm Apax, Reuters reported. Goldman Sachs and Swedish buyout firm EQT currently own ISS, and will opt for a share flotation instead of an acquisition, Reuters said.
2 min read · 07 January 2011
Only a week after partially exiting its investment in China Pacific Insurance, The Carlyle Group plans to sell an additional $1.8 billion stake, or 415 million shares, Reuters reported. The Washington, D.C.-based buyout shop paid roughly $800 million between 2005 and 2007 for its stakes in China Pacific.
1 min read · 07 January 2011
