Malaysia-based private equity fund Navis Capital is considering selling Singapore industrial safety shoemaker King's Safetywear, Reuters reported Monday. The company – which makes industrial safety footwear – could fetch and estimated $300 million to $500 million, according to Bloomberg. Navis, run by former executives of Boston Consulting Group, took King's Safetywear private in December 2008 for S$95 million ($74 million), Reuters wrote.
1 min read · 03 October 2011
Private equity firm Actis is among a group of investors buying a stake in South African vehicle tracking company Tracker, Reuters reported Monday. Actis and others will pay 3.9 billion rand ($485 million) for the stake currently owned by investment group Remgro. The company makes equipment used to recover stolen cars. The size of the stake was not disclosed.
1 min read · 03 October 2011
Pamlico Capital led a $28 million round for T2 Systems, a provider of a software-as-a-service for parking management. The company’s management team also contributed to the round. T2 was formed in 1994. Its chief executive, Mike Simmons, will retain “significant ownership” and will continue to manage the company in partnership with Pamlico and the existing senior management team, the company said in a written release. Specific details of the funding were not released.
3 min read · 30 September 2011
Manish Kejriwal is leaving his post as India head for Singapore state investor Temasek Holdings, and may create his own fund in India, Reuters reported. Kejriwal is a former partner at McKinsey & Co., and joined Temasek in 2004. He oversaw the firm's investments in India and the financial services sector.
2 min read · 30 September 2011
Publicly traded Prospect Capital Corp. provided $23 million in debt financing to support the recapitalization of Anchor Hocking, a company controlled by affiliates of Monomoy Capital Partners. Prospect Capital also served as facility agent in a $45 million term loan financing for Anchor, the firm announced Friday. Achor designs and manufactures glass products for the retail, food service, and OEM channels.
3 min read · 30 September 2011
Talks between buyout shop Cinven and suitors for Italian aerospace company Avio have stalled over price and political concerns about selling to an international buyer, Reuters reported. Avio provides engine parts for the Eurofighter Typhoon and supplies parts to General Electric and Rolls Royce, Reuters wrote. Avio could reportedly fetch more than 3 billion euro ($4.1 billion). Cinven has held discussions with several potential buyers, including Bain Capital, CVC and Clayton Dubilier & Rice.
1 min read · 30 September 2011
Friendly’s, the restaurant chain known for its ice cream sundaes and burgers, is close to filing for bankruptcy and may sell itself at auction, Reuters reported, citing news in the Wall Street Journal. The company, based in Wilbraham, Mass., is in talks with Wells Fargo for a $70 million loan to keep it afloat in the near-term. Friendly’s is owned by buyout shop Sun Capital Partners.
2 min read · 30 September 2011
Middle-market private equity firm J.F. Lehman & Co. held a final close of its new fund, JFL Equity Investors III L.P., with commitments of $575.5 million, the firm announced. The fund closed above its original target of $450 million. Based in New York, the firm focuses on the defense, aerospace and maritime industries.
3 min read · 30 September 2011
Early stage investment group New York Angels has teamed up with Ultra Light Startups, a community dedicated to fostering young tech companies. As part of the partnership, the three winners of Ultra Light’s monthly pitch contest will be given automatic bids to present to the New York Angels. In addition to the partnership, Ultra Light says it is expanding its work into Austin, Texas; Cleveland, Ohio; and Toronto.
3 min read · 30 September 2011
Buyout shop Avista Capital Partners has teamed up with Carrizo Oil and Gas Inc. to buy and develop properties in Ohio’s Utica shale. The Utica shale is thought to hold large amounts of crude oil and natural gas. Avista could contribute up to $130 million to the venture, Reuters reported. Carrizo will initially own a 10% stake in the venture, but holds options to increase its stake to 50%, Reuters wrote.
2 min read · 30 September 2011
