Private Equity
Trivest Partners has recapitalized Ryko Manufacturing Co., a maker of automated car wash systems, acquiring a majority of the business. Financial terms of the deal were not released. Ryko’s management team will continue to lead the day-to-day operations of the company. Rykos was formed in 1973 and is based in Grimes, Iowa.
2 min read · 22 December 2010
Montreal-based Renaissance Pharma, a portfolio company of private equity firm RoundTable Healthcare Partners, has acquired pharmaceutical manufacturer Confab Laboratories. Financial terms of the acquisition were not released. RoundTable Healthcare Partners is based in Lake Forest, Illinois. Confab Laboratories is based in St. Hubert, Quebec.
3 min read · 21 December 2010
Chinese online game developer The9 Limited is planning a $100 million investment fund with help from three investors: Chengwei Ventures, ChinaRock Capital Management and China Renaissance K2 Ventures. The firms have reached a "memorandum of understanding" about the fund, which will focus on domestic and overseas mobile Internet application and platform developers.
2 min read · 21 December 2010
Publicly-traded KBR has paid $280 million for Chicago-based Roberts & Schaefer Co., which is a subsidiary of private equity-backed Elgin National Industries. Roberts & Schaefer provides services and processing infrastructure to companies in the mining and minerals, power and industrial industries. Elgin National Industries is a portfolio company of the OCM/GFI Power Opportunities Fund II, L.P., a fund co-managed by Los-Angeles-based Oaktree Capital Management and GFI Energy Ventures.
2 min read · 21 December 2010
Kosmos Energy, which is backed by private equity firms Blackstone Group and Warburg Pincus, reached an agreement with the government of Ghana, and the country's state oil company, to resolve issues around its corporate structure, Reuters reported. Kosmos, an oil exploration firm, owns 23.49% of Ghana’s Jubilee offshore oilfield. The firm has been attempting to sell its Ghana assets, but had to call off a $4 billion deal in August after resistance from Ghana National Petroleum Corp., Reuters said.
2 min read · 21 December 2010
Buyout shop TPG Capital will pay roughly $505 million for a portfolio of U.S. retail and mixed-use assets currently owned by ProLogis. The properties include Los Angeles Union Station, four shopping centers, two office buildings and two residential development joint ventures, among others. The assets were acquired when ProLogis merged with Catellus Development Corp. in 2005. Private equity firm TPG Capital has more than $48 billion under management.
6 min read · 21 December 2010
Private equity investors Environmental Capital Partners and Emigrant Capital Corp. have sold Jackson, Miss.-based information technology company Intechra Group to Melville, New York-based Arrow Electronics. Financial terms of the deal were not released. Emigrant Capital is the private equity subsidiary of Emigrant Bank. Environmental Capital Partners is based in New York. The two firms invested in Intechra in August 2009.
2 min read · 21 December 2010
Altor Equity Partners and LD Invest Equity will sell their stakes in environmental and energy company Aalborg Industries to Alfa Laval. Financial terms of the deal were not released. The two firms acquired Aalborg in 2005. Nordic private equity firm Altor Equity Partners was formed in 2003. Danish buyout shop LD Invest Equity focuses on small to mid-cap investments and was formed in 2004.
4 min read · 21 December 2010
Atlantic Wind Connection is planning to file with energy regulators a proposal to build a power transmission system in the Atlantic Ocean, Reuters reported. The project, which would stretch from New Jersey to Virginia along the Mid-Atlantic coast, is sponsored by private equity firm Good Energies, Google, and Japanese trading company Marubeni Corp. The project would cost an estimated $5 billion, Reuters said. Good Energies has offices in New York, London and in Zug, Switzerland. Atlantic Wind Connection is based in Chevy Chase, Maryland.
2 min read · 21 December 2010
Toronto-Dominion Bank will pay $6.3 billion to buy Chrysler Financial from private equity firm Cerberus Capital Management, Reuters reported. TD said the purchase is comprised of net assets of $5.9 billion and about $400 million in goodwill, Reuters wrote.
1 min read · 21 December 2010
