Berry Plastics Corp., a company backed by Apollo Management and Graham Partners, has completed its acquisition of Rexam's specialty and beverage closures business. Terms of the deal were not released. Rexam SBC is a maker of injection and compression molded plastic specialty and beverage closures, jars, and other plastic packaging products. Berry Plastics is based in Evansville, Indiana.
2 min read · 06 September 2011
Buyout shop IK Investment Partners is exiting its investment in Etanco, a French designer and manufacturer of building fasteners and fixing systems. 3i Group is the buyer. Etanco Chief Ronan Lebraut is investing alongside 3i and will retain a 25% stake in the company. Terms of the buyout were not released. IK Investment bought Etanco in 2008.
3 min read · 06 September 2011
IBM is paying an undisclosed amount to buy British security analytics software firm i2, Reuters reported. The deal is expected to close in the fourth quarter. Cambridge, England-based i2 says its software was used by U.S. forces track down former Iraqi leader Saddam Hussein in 2003, Reuters wrote. The company has roughly 350 empoyees across Britain, the US and Australia.
2 min read · 06 September 2011
UK-based private equity firm Electra Partners has added Chris Hanna as an investment partner. Hanna, who joined September 1, joins from Phoenix Equity Partners where his investments included Nationwide Autocentres, NFT, ASCO and Ashtead Technology Rentals.
2 min read · 06 September 2011
Perfect World Co., a listed, Chinese online game developer, is putting $100 million into a new venture capital fund focused on technology, media and telecom deals. Perfect World develops massively multiplayer online role playing games, of MMORPGs. The venture fund will be formed by one of Perfect World’s “entities” and will be managed by “one or several general partners unrelated to Perfect World,” the company said in a statement.
3 min read · 06 September 2011
Buyout shop CVC Asia Pacific is looking to sell shoe repair company Minit Asia Pacific Co., Reuters reported. The firm has hired Mizuho Securities to advise on the sale. This is a third attempt to sell Minit, Reuters said. The firm tried and failed to sell the portfolio company in late 2008 and in 2010.
1 min read · 06 September 2011
Guidewire Software Inc., which sells software to the insurance industry, has filed to raise up to $100 million in an initial public offering, Reuters reported Friday. J.P. Morgan Securities, Deutsche Bank Securities, Citigroup Global Markets, Stifel, Nicolaus & Company and Pacific Crest Securities are listed as underwriters for the offering, according to regulatory filings.
1 min read · 06 September 2011
KPS Capital Partners has completed the sale of portfolio company Attends Healthcare Inc. to Domtar Corp. for $315 million in cash. Attends Healthcare is a maker of adult incontinence products. The transaction reportedly generated a 15x and 120% IRR for the PE investor.
2 min read · 02 September 2011
James Breyer, a partner at Accel Partners, has been nominated to the board of directors of News Corp., the company announced Friday. Breyer also serves on the boards of Wal-Mart Stores Inc. and Dell Inc. His venture investments include stakes in companies such as Facebook and Brightcover. Directors Kenneth Cowley and Thomas Perkins are departing the News Corp. board, the company said.
3 min read · 02 September 2011
Barclays Capital has hired Andrew Richards away from Morgan Stanley, and named him head of the bank’s private equity coverage in Asia Pacific, Reuters reported Friday. Richards will be a managing director at Barcap, and fill the void left by Takumi Tanaka, who left the firm earlier this year.
1 min read · 02 September 2011
