Origo Partners is looking to sell Mongolia-focused coking coal company Gobi Coal and Energy for as much as $750 million, Reuters reported, citing news by Bloomberg. Origo Partners is a Beijing-based private equity firm. Gobi Coal, which was set up in 2004 to mainly produce and export coking coal to China, is also looking to go public in Toronto, according to Bloomberg.
1 min read · 19 September 2011
IK Investment is planning to sell German outdoor sport surface maker Sport Group, Reuters said, in a deal that could value the company as high as 250 million euros. IK Investment bought Sport Group in 2006 from funds advised by ECM. Sport Group installs artificial turf fields and tracks, including running tracks.
1 min read · 19 September 2011
KKR Asset Management said Friday that it has closed its mezzanine fund, KKR Mezzanine Partners I, with more than $1 billion in commitments. The fund is backed by unnamed investors including insurers, pension plans, family offices and sovereign funds. Formed in 2004 by Kohlberg Kravis Roberts & Co., KKR Asset Management invests across secured credit, bank loans and high yield securities and alternative assets such as mezzanine financing, distressed investing and structured finance.
2 min read · 16 September 2011
Blackstone is paying a reported 600 million pounds ($948.4 million) for European hotel chain Mint. Blackstone, which owns the Hilton Worldwide chain, will take over Mint’s eight 4-star hotels, which are based in the UK and Amsterdam, Reuters reported.
1 min read · 16 September 2011
Phizzle, a San Francisco-based mobile marketing technology company, has named Jim Whims, partner at venture firm Alsop Louie Partners; Rich Geruson, president and chief executive of Phoenix Technologies; and Mark Krentzman, entrepreneur and member of the Board of Trustees at the Norman Rockwell Museum, to its board. In July, Phizzle announced that it had raised $3 million from Alsop Louie Partners.
4 min read · 16 September 2011
Middle-market buyout shop Genstar Capital has exited its investment in GenWoods HoldCo., selling the company to publicly traded Blount International Inc. for $185 million. GenWoods’ subsidiary Woods Equipment Co. is a maker and after-market distributor of attachments and implements for the agriculture, grounds care, and construction industries. Genstar is based in San Francisco.
2 min read · 16 September 2011
Ascent Capital, a Bangalore-based private equity firm, has put 2 billion rupees ($42.3 million) into Karaikal Port Pvt Ltd., a unit of Chennai headquartered MARG Ltd., Reuters reported Friday. The money will be used for expansion of its southeast India-based seaport.
1 min read · 16 September 2011
Carlyle will pay 11.5 billion yen ($149 million) to buy Japan’s N.I.C. Corp., which provides medical administrative and staffing services, Reuters reported. The firm teamed up with N.I.C. management on the buyout. Carlyle, the only major private equity firm with a Japan-focused, yen-denominated investment fund, manages the 165.6 billion yen Carlyle Japan Partners II fund.
2 min read · 16 September 2011
Advent International and Carlyle Group are the last two remaining bidders for Swiss-German private hospital operator Ameos, Reuters reported Friday. CVC Capital has pulled out of the auction process. Fully funded final bids are due at the end of September, Reuters wrote. Ameos, formed in 2002, operates around 48 private hospitals and psychiatric clinics at 24 locations in Germany.
1 min read · 16 September 2011
An attempt by private equity-backed ConvaTec to buy U.S. wound-care firm Kinetic Concepts has collapsed, Reuters reported Friday, citing a report in Dagens Industri. The deal reportedly fell apart when a pharmaceutical firm that had agreed to buy one of Kinetic's daughter companies as part of the deal pulled out. In August, sources told Reuters that Kinetic Concepts had received a takeover bid from ConvaTec, which is owned by Nordic Capital and Avista Capital Partners LLC.
1 min read · 16 September 2011
