Crane related stories
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Mercury opens in San FranciscoEx-Brookfield agent Paul Tam will lead activities out of San Francisco for the global placement firm, which has also made a new-hire in London.
- Crane to Complete Buy of PE-Backed MEI by Selling Toronto's CashCode - Reuters
U.S. manufacturer Crane Co. can proceed with its US$820 million buy of MEI Group, a portfolio company of Bain Capital and Advantage Partners, now that the company has agreed to sell Canadian and German subsidiary assets, reports Reutershttp://www.reuters.com/article/2013/07/19/crane-meiconlux-eu-idUSL6N0FP26M20130719 European regulators approved the deal on the condition that CashCode, a Toronto-based company focused on bill validation and recycling devices, and Germany's National Rejectors, are divested to ease competition concerns. CashCode was acquired by Crane for US$86 million in 2006. The MEI acquisition was announced in December 2012.
- Brookfield plots move into third party fundraising
The alternatives firm has hired a rash of heavy-hitting placement professionals and could launch a third party fund placement group as early the first quarter of 2009.
- Crane Capital hires Japan specialist
Japanese private equity expert Simon Chadwick has been hired to strengthen the placement agent’s London office.
- PE Firms Exit MEI
MEI Conlux Holdings and affiliates have been sold from Bain Capital and Advantage Partners in an $820 million exit to Crane Co., a listed, Connecticut-based manufacturer of engineered industrial products.