Private Equity
Avioserv San Diego, a private equity-backed company that sells and leases commercial jet engines and engine parts, has named David Leblanc chief operating officer, and Cameron Burr executive vice president of corporate development and marketing. Previously, both Leblanc and Burr worked as partners at JetCapital, a firm that focused on aviation-related investments. Los Angeles-based private equity firm Vintage Fund Management owns Avioserv, having acquired the San Diego-based company in 2007.
2 min read · 29 November 2010
Ares Management and Freeman Spogli & Co. have acquired specialty flooring retailer Floor and Decor Outlets of America for an undisclosed amount. Los Angeles-based firms Ares and Freeman Spogli bought the Atlanta-based flooring company from an investor group including Najeti Ventures, Saugatuck Capital Company, and TWJ Capital. Financial terms of the deal were not released.
4 min read · 29 November 2010
After narrowing its losses in the third quarter, Egyptian private equity firm Citadel Capital will aim to improve the management of its portfolio companies, Reuters reported. The firm, based in Cairo, manages $4 billion in assets across the Middle East and Africa. It saw a net loss of 29.5 million Egyptian pounds ($5.1 million) in the third quarter of 2010, an improvement over the 94.8 million pounds it lost during the second quarter, Reuters said.
2 min read · 29 November 2010
Rockley Group, a U.K.-based firm, has doubled the size of its Rockley China Fund LP after inking an agreement with the Shanxi Small and Medium Enterprise Investment Corporation, the technology venture fund owned by the Shanxi provincial government in China. The two will partner to develop business opportunities in Shanxi, China’s leading coal mining region. The firm's China operations are based in Beijing.
4 min read · 29 November 2010
New York-based private equity firm Harvest Partners has acquired Bartlett Holdings, which operates as BHI Energy. Financial terms of the deal were not disclosed. Harvest Partners acquired the company from Boston-based firms Berkshire Partners and Summit Partners. Plymouth, Mass.-based BHI Energy provides energy services including radiation protection and specialty maintenance. Harvest has $1.7 billion under management across five funds.
4 min read · 29 November 2010
Houston-based Sheridan Production Partners has raised $1.8 billion for its second fund: Sheridan Production Partners II. The firm, which focuses on acquiring oil and gas properties across the U.S., aims to expand its holdings in East Texas, Louisiana and the Rocky Mountain region. The firm has raised more than $3 billion in equity since it was formed in 2006 by Sheridan Management and Warburg Pincus.
3 min read · 29 November 2010
New York-based Evercore Partners has added Paul Deninger as a senior managing director in its investment banking business. Deninger will focus on advising companies in the technology and clean technology sectors. Deninger was previously vice chairman at Jefferies, and earlier was chairman and chief executive of Broadview International, a technology investment banking boutique firm.
3 min read · 29 November 2010
Swedish private equity firm Ratos will acquire automobile auction and valuation company KVD Kvarndammen in a deal valuing the company at 550 million kronor ($78 million). Ratos will provide equity of approximately 360 million kronor ($51.4 million), the company said. Formed in 1991, Kvarndammen is Sweden's largest independent broker for cars. The deal is expected to close by January 2011.
2 min read · 29 November 2010
Swedish private equity firm Ratos has offered 11.50 kronor ($1.64) per share to buy Biolin Scientific. The offer represents a 32.2% premium over the average closing price for Biolin during the past 30 days. Sweden’s Biolin Scientific develops analytical instruments for research, development, quality control and clinical diagnostics.
8 min read · 29 November 2010
Idaman Saga, a vehicle controlled by Malaysian businessman Halim Saad, has joined with KUB Malaysia and CVC Capital Partners Asia III to increase its bid for QSR, which is the majority owner of Kentucky Fried Chicken and Pizza Hut franchises in Malaysia, Reuters reported. The group increased its offer to match a bid by private equity firm The Carlyle Group. The Washington D.C.-based Carlyle Group previously bid $2.12 per share, or roughly $618 million, for QSR.
3 min read · 29 November 2010
