VCJ Staff
Texas Pacific Group reportedly has joined the CVC-led consortium that is circling British supermarket chain J. Sainsbury PLC. Blackstone and KKR already are part of the group, which is expected to bid upwards of
Vornado Realty Trust this morning dropped its bid for Equity Office, just as shareholders were expected to vote on a rival offer from The Blackstone Group. This makes Blackstone the likely winner of what would be the largest-ever buyout at approximately $39 billion.
Golden Gate Capital and Integrity Brands have agreed to acquire military boot manufacturer Wellco Enterprises Inc. (AMEX: WLC) for $14 per share (33% premium to yesterday's closing price). www.wellco.com
National Grid PLC is expecting first bids for its UK wireless communications unit next week, according to Dow Jones. The asking price is Gbp2 billion, but is more likely to come in at between Gbp1.2 billion and Gbp1.7 billion.
Madison Dearborn Partners has completed its $34.75 per share buyout of The Yankee Candle Company Inc., which has subsequently delisted from the New York Stock Exchange. The total deal was valued at around $1.6 billion, including $300 million in assumed debt. www.yankeecandle.com
General Atlantic has acquired Network Solutions, a Herndon, Va.-based provider of online solutions for small businesses, from Najafi Cos. (f.k.a. Pivotal Private Equity). No financial terms were disclosed for the deal, which will not result in a change of senior management. www.networksolutions.com Press Release: NETWORK SOLUTIONS ANNOUNCES OWNERSHIP CHANGE Herndon, VA — February 6, […]
DLJ Merchant Banking Partners has sold Wastequip Inc., a Beachwood, Ohio-based waste transportation equipment maker, to Odyssey Investment Partners for $616 million. It had acquired the company from CIVC Partners in 2005 for an undisclosed amount, but said in a statement that the deal represents a 3.1x cash-on-cash return. www.wastequity.com
Berkshire Partners has acquired a majority position in medical equipment companies Chatsworth, Calif.-based Masterplan Inc. and Goodlettsville, Tenn.-based ReMedPar Inc. from Three Cities Research and Camden Partners. No financial terms for either deal was disclosed. Bear Stearns and Ares Capital provided leverage.
Tom Hicks and George Gillett have agreed to acquire soccer club Liverpool FC for Gbp174 million. The deal was struck after rival bidder Dubai International Capital dropped out of the bidding. Hicks already owns the Texas Rangers (baseball) and Dallas Stats (ice hockey), while Gillett owns the Montreal Canadiens (ice hockey) and used to run […]
Code Hennessy & Simmons LLC has acquired an equity position in Mainline Supply Co., a Charlotte, N.C.