Private Equity
2 min read · 18 November 2010
Hythiam Inc. raised $6.9 million in gross proceeds through a private placement of common shares and senior secured convertible debt. Socius Capital Group LLC of Colorado, which is an affiliate of Hythiam’s Chairman and CEO Terren S. Peizer, participated in the placement. The funds will provide Hythiam with working capital to deliver services under existing agreements and contracts currently in negotiation.
4 min read · 17 November 2010
Cascade Bancorp signed several Securities Purchase Agreements to sell about $177 million of its shares. The Bend, Ore.-based company reached agreements with David F. Bolger, an affiliate of Leonard Green & Partners LP 's, an affiliate of Lightyear Fund II LP, and private equity funds affiliated with WL Ross & Co. LLC. After the close, Leonard Green, Lightyear, and WL Ross will each own 24.35 percent of Cascade Bancorp. Bolger will own 14.01 percent of the business.
10 min read · 17 November 2010
Renwood Opportunities Fund acquired the assets of State Industries Inc. Renwood is a partnership formed by Rosewood Private Investments and Renovo Capital. State Industries designs and makes wood panels and related components used in furniture, store fixtures and architectural interiors.Rosewood Private Investments is the private equity arm of Rosewood Corp.
2 min read · 17 November 2010
Advent International of Boston, Mass., completed its purchase of Tinsa. Advent International took a 94.5 percent stake in the Spanish property valuation firm. The remaining stake will be held mainly by a management team. The transaction is valued at EUR100 million.
3 min read · 17 November 2010
2 min read · 17 November 2010
Ares Life Sciences AG plans to acquire the remaining 54.1 percent it does not already own in of allergy specialist Stallergenes for 59 euros ($79.70) a share, Reuters reported. Ares Life is a Switzerland-based health investment fund. The offer is mandatory after Ares Life bought a 45.9 percent stake of Stallergenes from Wendel Investissements SA.
1 min read · 17 November 2010
CapMan Plc of Finland agreed to sell 30 percent of Paris, France-based Access Capital Partners Group SA to Pohjola Bank Plc. CapMan expects the transaction will impact its 2010 results by about EUR 23 million. The transactionis expected to close by the end of 2010. Access Capital has about EUR 2.9 billion in assets under management.
4 min read · 17 November 2010
Takko is expected to attract at least four buyout shops, people familiar with the matter told Reuters. Apax Partners, Bain Capital, EQT and TPG are preparing proposals to take one of the Garmany’s largest clothing chains from Advent International. A another source told Reuters an initial public offering is also being considered.
2 min read · 17 November 2010
WESCO International Inc.’s WESCO Distribution Inc. agreed to acquire TVC Communications LLC from Palisades Associates, a Bethesda, Maryland-based private equity firm. TVC of Annville, Pa., distributes broadband communications network infrastructure products.
4 min read · 17 November 2010
