Private Equity
Gloucester Engineering Co. of Massachusetts received European court approval to regain control of its GEC Europe subsidiary, which has now emerge from bankruptcy protection. The ruling followed an Austrian bankruptcy court’s dismissal of Swiss Winding Invention’s appeal of a settlement agreement. Gloucester is backed by Blue Wolf Capital Partners.
3 min read · 15 November 2010
Ahold is the last remaining bidder for Dutch retailer Hema, according to Reuters citing Dutch daily Het Financieele Dagblad. In September, British-based Lion Capital LLP said it was exploring the potential sale of the business.
1 min read · 15 November 2010
TPG Capital and General Atlantic LLC plan to exit Lenovo through the sale of $201 million worth of shares in the personal computer company, Reuters reported citing sources. The placement will sell 282.26 million shares at between HK$5.45 and HK$5.53, according to one source familiar with the transaction.
2 min read · 15 November 2010
EF Johnson Technologies Inc. named Andrew L. Adams chief executive offier. Adams replaced Norman Stout, who served in the role on an interim basis after the Irving, Texas-based company was bought by Francisco Partners in August. Stout remains chairman. Adams previously worked for Belden Corp. as president of the industrial solutions division.
2 min read · 12 November 2010
Falfurrias Capital Partners plans to raise $200 million for its second fund, the Charlotte Business Journal reported Thursday. In an interview with the newspaper, Managing Partner Marc Oken said Falfurrias is in the early stages of raising Falfurrias Capital Partners Fund II. The Charlotte, N.C.-based private equity firm invests in lower, middle-market businesses.
1 min read · 12 November 2010
TDC’s private equity owners are looking to sell some of their stake in the Danish telecommunications group, Reuters said. Apax Partners, Blackstone, Kohlberg Kravis Roberts, Permira Advisers and Providence Equity Partners own nearly 88 percent of TDC. Two sources familiar with the matter said the private equity owners would sell about $2.9 billion worth of TDC stock. The sellers will remain significant shareholders in TDC after the transaction.
3 min read · 12 November 2010
Misys PLC of the U.K. agreed to acquire Sophis SA for a total of 375 million pounds ($606 million) including debt. Sophis is a French-based provider of capital markets software that is owned by Advent International of Boston, Mass.
2 min read · 12 November 2010
Actis Capital LLP of the U.K. invested $53 million in Gtex, a Brazilian-based cleaning products company that sells uner the Urcam USE and Amazon brands. Actis plans to initiate a growth plan for Gtex in the Brazilian market to include new product lines, geographical expansion and acquisitions.
3 min read · 12 November 2010
Unitas Capital Pte. Ltd.’s Chief Executive Officer Andrew Liu expressed an interest in the auction of 3i Group’s PLC’s Hyva, Reuters said. Liu didn’t mention the Netherlands-based pump maker by name, but the comment was made when asked about Hyva’s auction at the AVCJ Private Equity Forum.
1 min read · 12 November 2010
Billionaire investor Carl Icahn increased his stake in Dynegy Inc. to 12.9 percent from about 9.95 percent and will offer a $2 billion credit to the Houston,Texas-based electricity producer, Reuters said. Icahn also plans to oppose Blackstone Group LP’s offer to acquire the Dynegy for $543 million, or $4.7 billion including debt.
2 min read · 12 November 2010
