Private Equity
TPG Capital and Leonard Green & Partners are close to an agreement to buy the clothing retailer J Crew Group for $2.8 billion, Reuters reported, citing sources familiar with the deal. The deal would value J Crew at $43.50 per share – a 15% premium over the company’s closing price Monday. Reuters said an agreement could be announced as early as Tuesday, when J Crew is expected to report quarterly earnings.
2 min read · 23 November 2010
Paris-based buyout shop PAI Partners will buy the Hunkenmoeller lingerie chain from Maxeda Retail Group, Reuters reported. Financial terms of the deal were not released. Hunkemoeller has roughly 500 stores in the Benelux, France and Germany.
1 min read · 23 November 2010
Buyout firms Advent and The Carlyle Group are planning a joint bid for 63% of Indian software exporter Patni Computer Systems, Reuters reported, valuing the deal at nearly $1 billion. Reuters said that private equity firm Apax and the technology company Hitachi are also likely to place a joint bid.
2 min read · 23 November 2010
Dutch pension fund APG and the Canada Pension Plan Investment Board have acquired a stake in London’s Stratford City development for roughly 871.5 million pounds ($1.39 billion), Reuters reported. The funds are buying the 50% stake in the retail development, which will be built next to the site of the 2012 Olympics, from Australian shopping-mall owner Westfield Group.
2 min read · 23 November 2010
Perfume maker Coty will buy Philosophy from private equity firm The Carlyle Group in a deal valued at $1 billon, Reuters has reported. Philosophy, which makes personal care products and cosmetics, was acquired by Carlyle in 2007. Privately held Coty is the world’s largest fragrance company, and will use the acquisition to expand its Coty Prestige unit, Reuters said.
1 min read · 23 November 2010
HSBC Capital, through its HSBC Private Equity Partners II fund, has acquired Compton, Calif.-based Venture Aircraft. Financial terms of the deal were not released. Venture Aircraft is a manufacturer of precision crafted sheet metal and machined components for the aerospace industry. HSBC Capital is the U.S. and Latin America private equity division of HSBC Group, and has more than $1.5 billion under management.
2 min read · 22 November 2010
Palo Alto, Calif.-based Norwest Venture Partners has added Ryan Harris as partner, and promoted Tim Chang to partner. Chang previously led the firm’s investments in ngmoco Inc. and Playdom Inc. Harris was previously a principal at the Carlyle Group and a venture partner with Industry Ventures. At Norwest, Harris will focus on late stage venture and growth equity investments in areas including medical devices, healthcare services and healthcare IT.
6 min read · 22 November 2010
Warburg Pincus has led a $9.5 million investment in the Better Advertising Project. The round will help Better Advertising expand its platform, which is designed to give consumers more transparency into how their information is used online. New York-based Better Advertising was created inside of Warburg Pincus in 2009 while its CEO Scott Meyer was an entrepreneur-in-residence at the firm. The company's management team also participated in the round.
4 min read · 22 November 2010
Macquarie Infrastructure Partners has acquired two landfill gas-to-energy facilities from Montvale, New Jersey-based Ridgewood Renewable Power. Financial terms of the deal were not released. Macquarie Infrastructure Partners has more than $5.5 billion in committed capital across two funds.
3 min read · 22 November 2010
China’s ZJF Group has acquired Firecomms, an Irish manufacturer of transceivers for plastic optical fiber. Financial terms of the acquisition were not released, though the deal includes a 5 million Euro ($6.8 million) investment in Firecomms’ research and development. Firecomms is backed by investors including Atlantic Bridge, ACT Venture Capital and Swisscom Ventures.
4 min read · 22 November 2010
