American Auto Auction Group, a company backed by Baird Private Equity, has acquired Florida auto auction operator Your Auction Inc. Terms of the deal were not released. Northwestern Mutual Capital and U.S. Bank National Association provided financing for the transaction.
3 min read · 06 October 2011
Barclays Private Equity wants a financing package in place before auctioning off its tax-free shopping company Global Blue, Reuters reported Thursday. The company is expected to fetch as much as 600-700 million pounds ($800 million-$1 billion), and has seen interest from several private equity firms, Reuters says. Barclays hired JP Morgan and Evercore to run the sale process.
2 min read · 06 October 2011
Toy company Jakks Pacific has rejected a $670 million buyout offer from Oaktree Capital Management, Reuters reported Wednesday. Oaktree sent a letter to Jakks in mid-September outlining the $20-per-share offer. Malibu, Calif.-based Jakks called the bid “inadequate.”
1 min read · 06 October 2011
Santa Monica, Calif.-based Veggie Grill has raised $11 million in new equity funding. As part of the deal private equity firm Brentwood Associates also agreed to provide additional funding over the next year-and-a-half. Veggie Grill is a restaurant chain focused on American comfort food.
2 min read · 06 October 2011
Greener Capital, a venture firm focused on clean-tech, has sealed $33 million in commitments for its second fund, Greener Capital Partners II, L.P. The Berkeley, Calif.-based firm says that its first fund has returned approximately 45%, net of fees, since inception in 2009. Investors in the fund were not named.
2 min read · 05 October 2011
IBM is buying i2 Holdings Ltd., a provider of intelligence and analysis software used by the national security, defense, public safety and private sectors. Terms of the deal were not released. The sale provides an exit for private equity shop Silver Lake Sumeru, which bought the company in 2008. i2 is based in Cambridge, England.
3 min read · 05 October 2011
Sentinel Capital Partners, a buyout shop focusing on the lower-middle market, has recapitalized National Spine & Pain Centers, providing an undisclosed amount of funding. Rockville, Maryland-based National Spine provides management services to physicians specializing in interventional pain management procedures.
4 min read · 05 October 2011
Menlo Park, Calif.-based Storm Ventures has sealed at least $56.4 million in commitments for its fourth fund, Storm Ventures Fund IV L.P., according to a regulatory filing.
1 min read · 05 October 2011
Providence Equity Partners has completed its acquisition of Blackboard Inc. The cash deal was valued at $1.64 billion in enterprise value, plus the assumption of $136 million in debt. The purchase price, at $45 per share, represented a 21% premium over the company’s closing price in April. Barclays Capital acted as financial advisor to Blackboard.
4 min read · 05 October 2011
Hitachi said that it has taken a majority stake in Indian electronics components maker Hi-Rel. Going forward, Hi-Rel will be known as Hitachi Hi-Rel Power Electronics. Terms of the deal were not released.
3 min read · 05 October 2011
