Private Equity

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3i Buys Amor Group from Pamplona Capital Management

Buyout shop 3i said that it will acquired affordable jewelry maker Amor Group from Pamplona Capital Management. Financial terms of the deal were not released. Obertshausen, Germany-based Amor was purchased by Pamplona in 2006. The company has operations in 14 countries.

3 min read · 15 December 2010

South Korea May Suspend $6B Auction for Woori Finance

With two potential bidders pulling out this week, South Korea may put the breaks on the sale of the government’s 57% stake in Woori Finance Holdings, Reuters reported. The government will decide soon whether to suspend the $6 billion sale, Reuters said. Two groups, formed by Woori employees and customers, decided this week to pull out of the sale. South Korea received 11 bids in the first round of the auction, though most bidders wanted only minority stakes in Woori. Among the 11 bidders were the Carlyle Group, Macquarie Group, MetLife, and local private funds Vogo and MBK Partners, Reuters reported.

3 min read · 15 December 2010

Carlyle Group Backing Bid for Ireland’s EBS

Dublin-based buyout shop Cardinal Asset Management, with backing from the Carlyle Group and U.S. investor Wilbur Ross, is competing with Bancassurer Irish Life & Permanent to buy Ireland's largest building society, EBS, Reuters reported. The government recently injected 525 million euros ($704.3 million) into EBS, Reuters said. Ireland’s Minister of Finance now controls EBS, which before the financial crisis was owned by its members. Final bids for the building society are expected next week.

2 min read · 15 December 2010

Icahn Buys Power Producer Dynegy for $665 Million

Billionaire investor Carl Icahn’s firm, Icahn Enterprises, will buy power producer Dynegy for $665 million in cash, Reuters reported. The deal comes after Dynegy rejected a $602 million bid from buyout shop Blackstone at the end of November. Dynegy's current debt stands at $3.95 billion, Reuters said. Goldman Sachs and Greenhill & Co advised Houston-based Dynegy on the deal.

1 min read · 15 December 2010

Trumping Greenbriar, Transforce Buys Dynamex for $248M

Montreal-based Transforce has trumped a private equity bid for same-day delivery company Dynamex, agreeing to pay $248 million for the Dallas-based company, Reuters reported. With the acquisition, Transforce, a mid-tier trucking company, aims to tap U.S. markets. It offered $25 per share in cash for Dynamex. Private equity firm Greenbriar Equity Group had previously offered $24 a share, Reuters said.

2 min read · 15 December 2010

Unitas Capital to Buy Hyva from PE Firm 3i Group

Private equity firm Unitas Capital will pay an undisclosed amount for Dutch pump maker Hyva, providing an exit for Hyva's current owner, 3i Group, Reuters reported. Though terms of the deal were not released, previous valuations have estimated the deal at roughly $830 million, Reuters said. Hyva makes hydraulic components for industrial machinery, and generates the majority of its sales from China and India. Unitas Capital has offices in Hong Kong, Melbourne, Seoul and Shanghai.

2 min read · 15 December 2010

DFJ Promotes Josh Raffaelli to Principal

Menlo Park, Calif.-based venture firm Draper Fisher Jurvetson has promoted Josh Raffaelli to principal. Raffaelli joined the firm in 2004 and previously worked as an associate. He focuses on energy and services business investments, and has worked with portfolio companies SolarCity, SpaceX and Tesla, among others. Before joining DFJ, Rafffaelli worked for JP Morgan and Och-Ziff Capital Management.

2 min read · 15 December 2010

Vector Aerospace Sees Interest from PE firms, Rivals

Canada's Vector Aerospace Group has attracted interest from potential buyers including Triumph Group, L-3 Communications Holdings and private equity firm First Reserve, Reuters reported. Analysts have estimated Vector's value at between $490 million and $550 million in a sale, Reuters said.

3 min read · 14 December 2010

PE-backed Greenleaf Power Buys Colmac Energy

Private equity-backed Greenleaf Power, which owns and operates biomass power plants, said it will acquire Colmac Energy – a 47-megawatt facility -- from American Consumer Industries. Financial terms of the deal were not released. Colmac is the third such acquisition by Greenleaf Power. Greenleaf is backed by Denham Capital.

4 min read · 14 December 2010

Ridgemont Equity Partners Acquires Unite Private Networks

Newly formed buyout shop Ridgemont Equity Partners said it will acquire a majority stake in Unite Private Networks, a provider of high-capacity data communications networks. Financial terms of the deal were not released. Debt financing was arranged by the Royal Bank of Canada and included CoBank and Webster Bank. Charlotte, N.C.-based Ridgemont was formed in August 2010 and specializes in middle-market buyout and growth equity investments. Unite Private Networks is based in Kansas City, Mo.

3 min read · 14 December 2010

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