Gregory Barger has joined NewSpring Capital as a principal focused on mezzanine investing. He previously was a managing director with Calvert Street Capital Partners.
2 min read · 18 June 2009
Bill Drehkoff has joined Chicago-based buyout firm Linden LLC as a principal. He previously was a vice president with The Edgewater Funds, and began his principal investing career when he joined the founding partners of Linden at First Chicago Equity Capital.
2 min read · 18 June 2009
CHICAGO/NEW YORK (Reuters) - Talks to sell the storied Chicago Cubs baseball team have reopened with a rival bidding group, and are continuing alongside negotiations with the original Ricketts family buyers, sources familiar with the situation said on Thursday. Tribune Co, which has been trying to sell the Cubs for more than two years, is talking to a group that includes private equity investors Marc Utay and Leo Hindery, three sources familiar with the situation said. Spokesmen for Tribune Co and Ricketts said their talks are ongoing and Ricketts spokesman Dennis Culloton described them as positive. Utay and Hindery declined to comment.
1 min read · 18 June 2009
NEW YORK (Reuters) - Three Japanese companies filed an involuntary bankruptcy petition against trendy cosmetics company Stila Corp in a Delaware court, saying it failed to pay its debts, according to court documents. The creditors listed in the filings made on Wednesday are cosmetics makers Tokiwa Corporation, JO Cosmetics Co and Nihon Kolmar Co, all based in Japan. Together they list claims for sale of goods totaling $812,448. Stila, which has a cult following for its trendy lipgloss and eyeshadow products, is owned by private equity firm Patriarch Partners. It was once owned by Estee Lauder (EL.N) and was sold to Sun Capital in 2006, which sold it to Patriarch this year.
1 min read · 18 June 2009
1 min read · 18 June 2009
Merit Capital Partners is targeting $600 million for its sixth mezzanine debt fund, according to LBO Wire. The Chicago-based firm closed its fifth fund in 2004 with $455 million. www.meritcapital.com
1 min read · 18 June 2009
Richard Taylor has joined UK private equity firm Sovereign Capital as an assistant director. He previously ran the Leeds office for Octopus Private Equity.
2 min read · 18 June 2009
Ready Mix Inc. (AMEX: RMX), a Los Vegas-based concrete maker, said that it has retained Lincoln International to evaluate strategic alternatives, including a possible sale of the company. The company's current market cap is approximately $13.52 million.
1 min read · 18 June 2009
Oak Hill Capital Partners has closed its third fund with $3.8 billion in capital commitments, according to LBO Wire. The middle-market buyout firm began fundraising 18 months ago with a $4 billion target and $5.5 billion hard cap. Its second fund had closed in 2005 with $2.5 billion and had a 7.1% IRR as of year-end 2008, according to limited partner CalPERS.
1 min read · 18 June 2009
3 min read · 18 June 2009
