Private equity firm Warburg Pincus will acquire ReSearch Pharmaceutical Services Inc. in a deal valued at roughly $227.3 million, Reuters said. The firm has offered $6.10 per shares for the clinical research firm.
1 min read · 29 December 2010
Blackstone Group has entered a preliminary bid for the asset portfolio of Australian shopping center owner Centro Properties Group, Reuters reported, citing an article in the Wall Street Journal. The firm is specifically interested in Centro’s 600 U.S. properties, Reuters said. Centro manages an $18.8 billion portfolio of shopping malls in the U.S., Australia and New Zealand. The company is mired in debt, and is selling the assets to put itself on stronger financial footing.
2 min read · 29 December 2010
The private equity firm Leonard Green & Partners may launch a hostile bid for warehouse club operator BJ's Wholesale Club Inc. if the company does not initiate an auction in the coming weeks, Reuters reported, citing an article in the New York Post. BJ’s Wholesale has said previously that it will begin the auction process after the New Year.
2 min read · 29 December 2010
1 min read · 28 December 2010
Provectus Pharmaceuticals, a biotech company developing oncology and dermatology drugs, has inked a $1 million investment from Chicago-based Lincoln Park Capital Fund. As part of the deal, Lincoln Park committed to invest up to $30 million more in equity capital. Provectus is traded on the over-the-counter Bulletin Board.
3 min read · 28 December 2010
United PanAm Financial Corp. has agreed to be acquired by buyout shop Pine Brook Road Partners and an entity controlled by United PanAm’s chairman, Guillermo Bron. Under the terms of the deal, valued at approximately $110 million, Pine Brook Road will pay $7.05 per share, which represents a 41% premium over the company’s December 27 closing price. The deal is expected to close in the first quarter of 2011. United PanAm Financial is a specialty automobile finance company.
3 min read · 28 December 2010
Concept Development Partners, an affiliate of Dallas-based private equity firm CIC Partners, will back Granite City Food & Beverage, providing $9 million in convertible preferred stock and arranging for $10 million in debt financing, the company said. Formed in 1999, Granite City Food & Brewery operates 26 restaurants in 11 states.
5 min read · 28 December 2010
Private equity firm Prodos Capital Management failed to meet a key condition of its acquisition of Italian fashion house Gianfranco Ferre, Reuters reported. As part of the November buyout, Prodos was to signed a commercial agreement with Samsung by December 26, Reuters said, adding that Prodos has yet to reach an agreement with any industrial partner.
1 min read · 28 December 2010
2 min read · 27 December 2010
Riverstone/Carlyle Global Energy and Power Funds, a group of energy-focused private equity funds managed by buyout shop Riverstone Holdings, has acquired USA Compression Holdings. Financial terms of the deal were not disclosed. Formed in 1998, USA Compression provides natural gas compression services across the U.S. The company is based in Austin and Dallas. Riverstone Holdings has roughly $17 billion under management.
2 min read · 27 December 2010
