Swiss energy firm Alpiq's sale of German power engineering business Alpiq Anlagentechnik Group is attracting interest from a number of private equity firms and trade buyers, Reuters wrote Thursday. First round bids are due in mid-November.
2 min read · 27 October 2011
Publicly traded LSI Corp. is paying $322 million in cash to buy SandForce Inc., a maker of flash storage processors and solid state drives. Founded in 2006, SandForce has raised money from venture capital investors DCM, Storm Ventures, Translink Capital and Canaan Partners.
3 min read · 27 October 2011
Chrystal Capital Partners, a corporate finance firm based in London, has added to its team: Alex Hambro will lead offerings for family offices; Iain Manley and Glynn Reece will work on alternative fundraising projects for private and public companies.
3 min read · 27 October 2011
Len Blavatnik's Warner Music Group and KKR-backed BMG Music are in the lead to win the auction for the recording and music publishing assets of EMI Group from Citigroup Inc., Reuters reported Thursday. Blavatnik appeares close to clenching a $1.5 billion deal for EMI's labels, which include Capitol and Virgin, two people told Reuters. Vivendi's Universal Music Group, the world largest music company, reportedly dropped out of the running for EMI's record label assets. Citigroup seized control of EMI in February after its previous private equity owner, Terra Firma, defaulted on a loan.
2 min read · 27 October 2011
Sony Corp. is taking over the Sony Ericsson mobile phone joint venture for 1.05 billion euros ($1.45 billion), as it seeks to catch up with smartphone and tablet makers Apple and Samsung, Reuters reported Thursday. The deal gives Sony ownership of certain handset patents held by Ericsson and will enable it to integrate the joint venture's output with its own range of products and content. Until now Sony's tablets, games and other consumer electronics devices have been kept separate from the phones sold and created by Sony Ericsson, Reuters wrote.
3 min read · 27 October 2011
TA Associates has completed its buyout of CoSentry, a data center, cloud computing, and managed service provider. Sellers were McCarthy Capital andWaittCorp Investments, the investment company of Gateway Computer co-founder Norm Waitt. Terms were not released.
3 min read · 27 October 2011
OMERS, one of Canada’s largest pension funds, has opened an office in New York City. The fund, with $53 billion in net assets, will have a 30-person team working in New York, specializing in real estate, infrastructure, private equity and capital markets.
2 min read · 26 October 2011
Blue Point Capital Partners and Endeavour Capital have exited their interests in Legend Brands, selling the company to publicly traded RPM International Inc. Blue Point invested in Legend Brands from its 2006 vintage fund, Blue Point Capital Partners II, L.P. – a $400 million lower middle market buyout fund. Terms were sales were not released. Legend Brands, based in Burlington, Wash., is a designer and manufacturer of highly engineered restoration and cleaning products.
3 min read · 26 October 2011
The Riverside Company exited its investment in EM Test Group, selling the Swiss manufacturer and supplier of electromagnetic compatibility testing equipment to AMETEK Inc. for CHF83 million ($93.8 million). Riverside owned EM Test Group for roughly four years. The sale generated a 3.4x gross cash-on-cash return and a 38% gross IRR for the firm, Riverside said.
3 min read · 26 October 2011
GlaxoSmithKline is hoping to receive second round bids for a clutch of its non-prescription drugs by mid-November, Reuters reported Wednesday. Bain Capital and Blackstone, which has partnered with Prestige Brands, are seen as the front-runners and most likely participants for the second round of the sale, Reuters wrote.
3 min read · 26 October 2011
