Private Equity
HIG Capital LLC of Miami Florida completed the recapitalization of Progressive Logistics Services LLC through an affiliate. Terms were not disclosed. The existing management team of Progressive Logistics, which is led by CEO Tom Caudell and COO Mike Adams, will continue to manage and operate the provider of outsourced, productivity-driven workforce solutions.
3 min read · 14 January 2011
Carlyle Group of Washington, D.C., completed the acquisition of CommScope Inc. CommScope shareholders will $31.50 for each share held in the maker of communication cables. Marvin S. "Eddie" Edwards Jr., CommScope's president and chief operating officer, was named president and CEO. He was also named to the board of CommScope. Edwards succeeds Frank M. Drendel, who served as CEO since he founded the company in 1976. Drendel also remains chairman.
4 min read · 14 January 2011
Starwood Capital Group is considering options to sell Louvre Hotels, Reuters reported citing French daily Les Echos. The Greenwich, Conn.-based firm is looking at the possibility of a stock market listing or a sale, the paper said. Louvre Hotels is a France-based hotel group.
1 min read · 14 January 2011
Webster Capital Management LLC acquired Conisus Inc., an Atlanta, Ga.-based provider of medical communication services. Webster completed the deal in partnership with Conisus’ management. Texas Capital Bank and BB&T Capital Partners provided debt financing for the deal. Goodwin Procter served as counsel for Webster.
3 min read · 14 January 2011
Oaktree Capital Management plans to start the auction of Stock Spirits this month, sources told Reuters news. Two people familiar with the matter said the Los Angeles-based firm has not definitively decided to sell the European company, and is considering an initial public offering. Stock Spirits produces Polish vodka Czysta de Luxe and Czech plum brandy. It previously hired Credit Suisse to advise it on strategic options.
2 min read · 14 January 2011
An affiliate of Carlyle Group acquired Syniverse Technologies, a Tampa, Fla.-based provider of technology and business solutions for the global telecommunications industry, for about $2.6 billion. Syniverse’s shareholders are entitled to receive $31 in cash, without interest, for each share owned.
2 min read · 14 January 2011
Main Street Capital Corp. of Houston, Texas, completed a $7.5 million investment in Pegasus Research Group LLC, which does business as Televerde. The financing supported the recapitalization and growth financing of Televerde. The investments consist of a $6.25 million in first lien secured debt and a $1.25 million direct equity investment. Televerde is a Phoenix, Ariz.-based provider of sales-lead services.
2 min read · 14 January 2011
Madison Williams & Co. hired Stacy Kincaid to join its private capital solutions group that will be based in Los Angeles. Kincaid’s will lead the origination, due diligence and project management efforts for the firm’s global fund placement business. She was a managing director of fund portfolio of VinaCapital Group before joining the New York-based capital markets and investment banking firm.
3 min read · 14 January 2011
Marport Deep Sea Technologies Inc. secured an equity investment led by Hasting Equity Partners LLC of Waltham, Mass., and Admiralty Partners Inc. of Los Angeles, Calif. In connection with the financing, Bruce MacRae, a managing director at Hastings, will join Marport as chairman. He replaced Derrick Rowe, who remains with the board. Marport, St. John’s, Canada, is a developer and manufacturer of sonar products for the defense and commercial fisheries markets.
4 min read · 14 January 2011
Rubenstein Partners closed four deals in the fourth quarter, marking the first new investment by Rubenstein Properties Fund LP in nearly four years. The four transactions represent an initial equity investment of about $70 million, with anticipated follow-on equity investments of $30 million in these deals. Rubenstein Partners is a Philadelphia, Pa.-based private equity firm providing leading real estate investment management and advisory services.
4 min read · 14 January 2011
