Ranger Aerospace, a PE-backed aerospace and defense industry acquisition platform, has acquired US Logistics Inc., a government outsourcing contractor specialized in aircraft technical services, tactical vehicle overhauls and repairs, technical staffing and base logistics. No financial terms were disclosed. Ranger Aerospace shareholders include First New England Capital, Argosy Investment Partners and Plexus Capital.
4 min read · 24 August 2009
Milacron Inc., a plastics processing and industrial fluids company, has exited bankruptcy protection with a new group of investors that includes Avenue Capital Group and DDJ Capital Management. It also has secured a new revolving credit facility led by Wells Fargo Foothills. Prior to entering bankruptcy protection, Milacron had been minority-owned by Bayside Capital, an affiliate of H.I.G. Capital.
3 min read · 24 August 2009
1 min read · 24 August 2009
2 min read · 24 August 2009
2 min read · 24 August 2009
2 min read · 23 August 2009
3 min read · 22 August 2009
2 min read · 22 August 2009
1 min read · 22 August 2009
NEW YORK (Reuters) - Failed mortgage lender IndyMac Bancorp, now known as OneWest Bank, turned a profit in its first full quarter under new hedge fund and private-equitiy ownership, according to reports filed with U.S. bank regulators. For the second quarter ended June 30, Pasadena, California-based OneWest posted profit of $182 million. OneWest generated $245.6 million of net interest income, offset by a $9 million provision against future losses. The thrift also said nearly a third of the bank's mortgages were behind on their payments, though the value of repossessed homes on its books rose to $137 million from $18 million.
2 min read · 21 August 2009
