Private Equity

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PE-Backed EverPower Inks Wind Farm Deal

EverPower Wind Holdings Inc., which is backed by buyout firm Terra Firma, will acquire Patton Wind Farm from wind energy company OwnEnergy. Terms of the deal were not released. The Patton Wind Farm is located in Pennsylvania, and expected to be operational by the end of 2012.

5 min read · 20 December 2011

3i Buys Stake in Brazil’s Blue Interactive

3i Group has made its first investment in Brazil, acquiring a “significant minority stake” in Brazilian cable TV and broadband provider Blue Interactive Group. The deal is valued at about $55 million. Blue Interactive was formed in 2009.

3 min read · 20 December 2011

Talbots Rejects Sycamore's Buyout Offer

Women's clothing chain Talbots Inc. has rejected a $212 million buyout offer from private equity firm Sycamore Partners, Reuters reported Tuesday. Earlier this month, Sycamore, which owns 9.9% of Talbots, offered to buy Talbots for $3 a share when the company's stock was trading at $1.56. Investors in the company quickly criticized the offer as too low.

1 min read · 20 December 2011

Mvela Group Shareholders Block Buyout

South African investment firm Mvela Group said on Tuesday its shareholders had blocked a buyout offer from London-listed Blackstar Group, sinking a $215 million deal, Reuters wrote Tuesday. Blackstar is an Africa-focused investment company listed on London's AIM market for smaller firms.

1 min read · 20 December 2011

Leo Hindery Joins PhoneGuard Board

Leo Hindery Jr., a managing partner of private equity fund InterMedia Partners LP, has joined the board of PhoneGuard Inc. PhoneGuard is a subsidiary of Options Media Group Holdings, and a provider of mobile applications software. . Hindery is the former chairman and chief executive of The YES Network, which he founded.

3 min read · 20 December 2011

Cressey & Co. Buys InnerChange

Cressey & Co. has acquired a majority stake in InnerChange, a provider of residential treatment and therapeutic services to young women with behavioral, emotional and substance abuse problems. Terms of the deal were not released. InnerChange is based in Orem, Utah. Cressey & Co. has offices in Chicago and Nashville and focuses on investments in the healthcare industry.

4 min read · 20 December 2011

Apple Pays Up to $500M for Israel’s Anobit

Apple is paying up to $500 million to buy Israel's Anobit, a maker of flash storage technology, Reuters reported Tuesday, citing the Calcalist financial daily. Last week Calcalist had reported that Apple was in advanced talks to buy Anobit for $400-$500 million, Reuters wrote.

1 min read · 20 December 2011

Securum Equity Partners Plans Serbian Solar Park

Luxembourg-based Securum Equity Partners is planning to build a 2 billion euro ($2.6 billion) solar park in Serbia, Reuters reported Tuesday. The company plans to start the project in 2013, and said it would set up an open-end fund by the end of December to channel the investment, Reuters wrote.

2 min read · 20 December 2011

Edison Ventures Promotes David Nevas

Edison Ventures has promoted David Nevas to principal. Nevas joined the firm in 2007 and focuses on investments in interactive marketing and eCommerce companies. He currently serves as board observer of The Neat Company and previously was an observer of the Checkpoint HR board.

2 min read · 20 December 2011

RBS To Sell $2.1B Loan Portfolio

Blackstone is set to buy a 1.36 billion pound ($2.1 billion) property loan portfolio from the Royal Bank of Scotland, Reuters reported Tuesday. The loans will be put into a jointly owned vehicle in which the state-owned bank will hold a 75% equity stake that it will sell down by the end of 2013, Reuters wrote. Blackstone, backed by China Investment Corporation, will take a 25% equity share and manage the properties.

2 min read · 20 December 2011

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