PPG Industries (NYSE: PPG) has completed the sale of a 60% stake in its automotive glass and services business to Kohlberg & Co. for approximately $270 million. The carve-out was originally slated to go to Platinum Equity for $500 million, but the firm backed out after claiming that PPG had misrepresented the business.
2 min read · 02 October 2008
Peter Baumgartner has joined Vestar Capital Partners as a Munich-based managing director of the firm’s Vestar Resources group, which provides advice and services to portfolio companies. He previously was a partner and managing director with Mercer/Oliver Wyman, where he most recently served as head of that firm’s Manufacturing, Transportation and Energy division.
3 min read · 02 October 2008
HCPro Inc., a portfolio company of Halyard Capital, has acquired Beacon Health, a Mequon, Wis.-based provider of information and publications for the homecare and hospice industry. No financial terms were disclosed. Beacon was represented on the sale by W.B. Grimes & Co.
2 min read · 02 October 2008
1 min read · 02 October 2008
4 min read · 02 October 2008
1 min read · 01 October 2008
Allied Capital has sold its equity interest in Norwesco Inc., a maker of polyethylene storage tanks for the agricultural and industrial markets, to Olympus Partners. Allied sponsored a management buyout of Norwesco in 2005, and reports that it realized an $86 million gain on its equity investment and the repayment of $65 million in outstanding subordinated debt it had lent the company.
3 min read · 01 October 2008
1 min read · 01 October 2008
The Riverside Company has acquired Eemax Inc., an Oxford, Conn.–based maker of tankless electric water heaters. No financial terms were disclosed.
3 min read · 01 October 2008
2 min read · 01 October 2008
