Private Equity
Clairvue Capital Partners of San Francisco, Calif., hired Jeffrey Granoff as a principal. Granoff previously worked for Prudential Real Estate Investors as a principal of the Merchant Banking Group. He will open Clairvue’s New York City office. Granoff will focus on sourcing and executing investment opportunities for Clairvue Capital Partners I.
3 min read · 20 January 2011
HIG Capital LLC of Miami, Fla., extended the tender offer for Matrixx Initiatives Inc. The new deadline is Jan. 31, at 5 p.m. The tender offer was previously scheduled to expire at 11:59 p.m. on Jan. 24. All other terms and conditions of the offer remain unchanged. HIG is seeking to acquire the Scottsdale, Ariz.-based maker of over-the-counter health care products, for a total of $75.2 million, or $8 a share.
4 min read · 20 January 2011
Alerion Capital Group of Scottsdale, Ariz., recapitalized Kiosk Information Systems, which is a privately-held designer and maker of customized self-service kiosk systems, solutions and services. McGladrey Capital Markets served as exclusive financial adviser to KIOSK. Silicon Valley Bank provided senior debt and Peninsula Capital provided mezzanine debt, but specific financial details were not disclosed.
3 min read · 20 January 2011
Warburg Pincus-backed Tornier B.V. expects to raise up to $183.8 million when it goes public on Nasdaq, which is lower than the $205 million initial public offering previously planned, Reuters reported. Tornier is a Netherlands-based medical device company. It expects its IPO of 8.8 million shares will be priced at the range of $19 to $21 each.
1 min read · 20 January 2011
French cheese maker Bel is considering acquiring PAI Partners SAS’s 50 percent stake in yogurt-maker Yoplait, Reuters reported citing Le Figaro newspaper. Le Figaro disclosed the development on Wednesday without identifying its sources. Farming cooperative Sodiaal owns the other hald of Yoplait.
1 min read · 19 January 2011
Crescent Financial Partners Inc. purchased a 30 percent equity stake in BeautyTicket.com, which sells beauty products at a discount. Financial terms were not disclosed. Crescent Financial is a Los Angeles, Calif.-based private equity merchant banking firm.
2 min read · 19 January 2011
Ares Capital Corp.’s indirect subsidiary, Ares Capital CP Funding LLC, extended its $400 million revolving funding facility to Jan. 18, 2016, from Jan. 22, 2013. Wells Fargo Bank NA provided the facilty, which contains a three-year reinvestment period until Jan. 18, 2014 followed by a two year amortization period. The reinvestment period and final maturity may be extended two times for one year periods if mutually agreed upon by the parties. Pricing on the facility remains unchanged and the currently effective LIBOR spread under is 2.75 percent.
3 min read · 19 January 2011
Corestate Group AG of Switzerland named Phillip Burns as chief executive officer. He will join the company in mid-February. Burns was formerly a financial managing director at Terra Firma Capital Partners. Burns will primarily be based in Zug, Swiitzerland.
3 min read · 19 January 2011
Realogy Corp. seeks to amend its senior secured credit facility. The Parsipanny, N.J.-provider of real estate and relocation services wants to extend the maturity of its first lien term loans by three years from Oct. 10, 2013. It also wants to extend the maturity of its revolving credit facility from April 10, 2013 to April 10, 2016. In addition, the Apollo Management LP-backed company wants to extend the maturity of its synthetic letter of credit facility from Oct. 10, 2013 to Oct. 10, 2016.
4 min read · 19 January 2011
BankUnited Inc. set terms of its initial public offering that will be more than twice as big as what was originally planned, Reuters reported. The bank plans to raise about $630 million when it seeks to have its shares listed in the New York Stock Exchange under the symbol “BKU”. It previously filed its plans to go public with a target of raising up to $300 million. Wilbur Ross's WL Ross & Co., Carlyle Group, Blackstone Group and Centerbridge Partners bought BankUnited in May 2009. BankUnited plans to sell 26.25 million shares for $23 to $25 a share.
2 min read · 19 January 2011
