Kidd & Co., a middle-market investment firm, has sponsored the recapitalization of Numet Machining Techniques Inc. in partnership with founding shareholders Mark Roscio and Tony Neto. Stratford, Conn.-based Numet is a manufacturer of precision machined parts, kits, and assemblies for jet turbine engines for commercial and military aircraft. Terms were not released.
3 min read · 26 October 2011
Kohlberg Kravis Roberts & Co. is planning to launch a new pan-Asia fund to raise as much as $6 billion in the first quarter of 2012, Reuters reported. KKR is not as far progressed with its plans as TPG Capital, which set a mid-October launch date for its Asia fund of up to $5 billion, or Bain Capital, which is already raising a new Asia fund of at least $2 billion. KKR's existing Asia fund is among the largest ever raised by a private equity firm for the region, along with a $4.12 billion fund raised by CVC Capital Partners Asia in 2008, and TPG's $4.25 billion TPG Capital Partners V fund raised in 2008, data provider Preqin says.
2 min read · 26 October 2011
Buyout firm Lone Star is selling its entire stake in PGM Holdings, one of Japan's largest golf course operators, for 39.5 billion yen ($521 million), Reuters reported. Lone Star has agreed to sell the 64% stake to Japanese "pachinko" pinball machine maker Heiwa Corp.
2 min read · 26 October 2011
Party City Holdings Inc. may complete a $350 million initial public offering this year, Reuters reported Tuesday, citing Bloomberg. The company, which sells balloons and party supplies, filed for the IPO in April. Advent owns 37% of Party City, while Berkshire Partners has 36.14%. Weston Presidio has 17.45%, according to SEC filings.
1 min read · 26 October 2011
Austin-based online coupon company WhaleShark Media Inc. has added Jeff Smith as its senior director of search engine optimization, and Brian Hoyt as the company's head of communications. Prior to WhaleShark, Smith worked for six years at HomeAway.com. Hoyt was previously vice president of corporate communications and government affairs for Chicago-based Orbitz Worldwide Inc. WhaleShark is backed by venture capital firms Austin Ventures, Norwest Venture Partners, Adams Street Partners and Google Ventures.
4 min read · 25 October 2011
Progreso Financiero has sealed a $30 million mezzanine debt facility from listed company BlackRock Kelso Capital Corp. Progreso Financiero, using a proprietary risk scoring system, provides loans without collateral to clients who lack a credit history. The company, formed in 2005, has loaned out $210 million, mostly in microloans to the Hispanic community.
3 min read · 25 October 2011
New York buyout shop Metalmark Capital has acquired a majority stake in Glen Allen, Va.-based Bostwick Laboratories Inc., the firm announced Tuesday. Financial terms of the deal were not disclosed. Bostwick Laboratories is a provider of urologic anatomic pathology laboratory services. The Metalmark investment will help Bostwick with growth efforts and to expand development of its pathology laboratory services, which specialize in the monitoring and diagnosis of cancer.
3 min read · 25 October 2011
Toronto-based online food ordering service Just-Eat Canada Inc. has acquired competitor GrubCanada Inc. Terms of the deal were not released. The Just-Eat Group, which operates across 13 countries, was formed in 2000 and is backed by $48 million from investors including Greylock Partners, Index Ventures and Redpoint Ventures.
2 min read · 25 October 2011
YourEncore, the maker of an enterprise platform focused around research, development and commercialization challenges, has sealed an undisclosed amount from Accel-KKR, the company announced Tuesday. The money will be used for expansion efforts.
4 min read · 25 October 2011
NXT Capital, a Chicago-based commercial finance company focused on the middle-market, has raised $318 million in equity commitments from investors including Teachers’ Private Capital, a unit of the Ontario Teachers’ Pension Plan. NXT Capital’s new investors include Credit Suisse’s Customized Fund Investment Group, Oak Hill Investment Management, and Teachers’ Retirement System of the State of Illinois.
3 min read · 25 October 2011
