Private Equity
A group of buyout shops is interested in pursuing Sara Lee Corp. A source familiar with the situation told Reuters on Sunday that the group, which includes Apollo Global Management, made an approach to the food and beverage company. The Wall Street Journal reported the news earlier and said the group includes Bain Capital and TPG Capital.
2 min read · 10 January 2011
M8 Capital made a $4.2 million investment in SCHAD, which is a Hamburg, Germany-based mobile technology company. M8 Capital is a London, U.K.-based venture capital fund that exclusively invests in mobile technology. SCHAD GmbH is already backed by eCAPITAL entrepreneurial Partners AG.
5 min read · 10 January 2011
API Technologies Corp.. signed a definitive merger agreement with Vintage Capital Management LLC to acquire SenDec Corp., a defense electronics manufacturing service concern based in Fairport, N.Y. API will buy 100 percent of the equity in SenDec. The deal will include SenDec’s manufacturing operations and about $30 million of cash for 22 million API common shares to an affiliate of Vintage Capital. The Orlando, Fla.-based firm will become majority shareholder of API.
6 min read · 10 January 2011
Actis Capital LP of London, UK selected FirstRain Inc. for use in its investment research process. FirstRain is a California-based provider of real-time business intelligence solutions that has VC backers including Ampersand Ventures, Diamond Ventures and Oak Investment Partners.
2 min read · 10 January 2011
Gloucester Engineering Co. received bankruptcy court approval for the disclosure statement in its reorganization plan. The statement describes the proposed reorganization plan and contains information regarding the debtor and its business. Ballots have been sent to creditors and a confirmation hearing is scheduled for Dec. 20. The proposed reorganization is sponsored by Blue Wolf Capital Partners LLC’s Blue Wolf Capital Fund II. It also has the support of the creditors’ committee. Gloucester Engineering is a Massachusetts-based provider of equipment for the plastics extrusion and converting industry.
3 min read · 19 November 2010
Covington Capital Corp. of Toronto agreed to pay $5 million toward termination costs associated with the acquisition of five VenGrowth Funds. Covington also agreed to honor the lower management fee structure it negotiated with VenGrowth Funds’ board.
2 min read · 19 November 2010
Centerview Partners Holdings LLC of New York acquired Richelieu Foods Inc. together with the management of the private label food maker. Financial terms were not disclosed. The business was previously owned by Brynwood Partners LP of Greenwich, Conn.
2 min read · 19 November 2010
New York's Attorney General Andrew Cuomo files two lawsuits against Steven Rattner for allegedly paying kickbacks to win investments from the state's $130 billion pension fund. Reuters reported Cuomo seeks to recover at least $26 million from Rattner and to permanently bar the former auto industry czar from the securities industry in New York. Rattner plans to fight Cuomo's lawsuits and to clear his name. Separately, Rattner settled a related SEC civil lawsuit. He agreed to pay $6.2 million and accepted a two-year ban from working with an investment adviser or broker-dealer.
4 min read · 19 November 2010
Harrah's Entertainment Inc.’s planned IPO has been delayed as a result of concerns that the shares have been priced too high, Reuters reported citing sources familiar with the matter. News of the delay was first reported by CNBC. The pricing was initially scheduled on Thursday, buy could be pushed backed to Monday. Harrah’s is seeking to raise about $500 million and plans to sell 31.25 million shares for $15 to $17 a share. The company is backed by Apollo Management and TPG.
3 min read · 19 November 2010
AstraZeneca PLC confirmed it is considering the spin-off of Astra Tech business, Reuters reported. AstraZeneca hired JP Morgan Chase to help with the review of options for the dental implants and medical devices maker. A source familiar with the situation told Reuters earlier this week that the Anglo-Swedish drugmaker was looking to sell the Swedish-based business for $2 billion. Reuters reported Astra Tech could be of interest to privately held companies and private equity firms according to industry analysts.
2 min read · 19 November 2010
