Confie Seguros, an insurance provider backed by San Francisco-based private equity firm Genstar Capital, has acquired the Florida operations of Trustway Insurance Agencies. Terms of the deal were not released. Trustway Insurance has 28 retail locations throughout Florida.
3 min read · 11 October 2011
Ares Management and Canada Pension Plan Investment Board will pay $22 per share, or $1.6 billion, for 99 Cents Only Stores, Reuters reported Tuesday. Reuters also wrote that members of the Schiffer/Gold family, who are key stakeholders in the company, have agreed to vote in favor of the transaction.
1 min read · 11 October 2011
Ursa Resources Group II has closed on $200 million in equity financing from Denham Capital. The financing will be used for acquisition of oil and gas assets. Denham Capital is an energy-focused global private equity firm.
2 min read · 11 October 2011
Hosting.com, a cloud hosting and recovery services company backed by private equity shop Pamlico Capital, is buying Dallas-based managed hosting company NeoSpire. Terms of the deal were not released. NeoSpire was formed in 1999. Pamlico Capital is based in Charlotte, N.C.
4 min read · 11 October 2011
TA Associates has made a “significant” investment in Aicent Inc., a provider of data network, messaging and roaming technology for telecom network operators, the firm announced Tuesday. Terms of the investment were not disclosed.
3 min read · 11 October 2011
First Reserve Corp. is pouring $100 million into a joint venture with Energy Corp. of America, focused on energy infrastructure in the Marcellus shale region, Reuters reported Tuesday. First Reserve will hold a 50% stake in the two natural gas gathering systems in Pennsylvania. First Reserve is making the investment through its $1.2 billion infrastructure fund.
3 min read · 11 October 2011
Japanese electric parts maker Murata Manufacturing Co. is paying 20 billion yen ($261 million to buy Finland's VTI Technologies, Reuters reported. Private equity group EQT III, one-third owned by holding company Investor AB, said it has agreed to sell all shares in VTI, which makes sensors used in cars and pacemakers, Reuters wrote. Kyoto-based Murata supplies components to Apple and Nokia as well as major automakers.
1 min read · 11 October 2011
China Investment Corp. is pouring $1 billion into the Russia-China Investment Fund, a partnership with a Russian state vehicle, Reuters reported Tuesday. The state-backed Russian Direct Investment Fund will also commit $1 billion to the venture. The fund would also seek outside investments that would be four times the original capital commitments of the two state investment funds, Reuters wrote. The fund will co-invest in private equity deals, and in deals that “will strengthen Russia-Chinese business relations,” Reuters wrote.
2 min read · 11 October 2011
Second round bids are due for Norway-based discount retail store Europris. The company, owned by IK Investment Partners, has attracted interest from buyout shops Nordic Capital and Warburg Pincus. Europris could reportedly fetch 400 million euros ($546.2 million) and 500 million, Reuters reported Monday.
2 min read · 10 October 2011
A trial over whether Cerberus Capital Management and Chatham Lodging Trust were justified in backing out of a $1.12 billion deal to buy hotels run by Innkeepers USA Trust has been postponed, Reuters reported Monday. The trial has been pushed back to Tuesday.
2 min read · 10 October 2011
