VCJ Staff
Texas Pacific Group, The Blackstone Group and Kohlberg Kravis Roberts & Co. are talking about teaming up to bid for a controlling stake in Hutchison Essar Ltd., the Indian mobile phone service unit of Hong Kong’s Hutchison Telecommunications International Ltd and the fourth largest player in the Indian market, according to The Sunday Times. Others […]
ADESA Inc. (NYSE: KAR), a provider of wholesale vehicle auctions and used vehicle dealer floor-plan financing, has agreed to be acquired for $3.7 billion (including $700 million in assumed debt). Buyers include Kelso & Co., GS Capital Partners, ValueAct Capital and Parthenon Capital. ADESA shareholders will receive $27.85 per share, or a 10% premium to […]
The Riverside Company has acquired Phoenix Medical Resources Inc., a renter of respiratory equipment to nursing homes throughout the United States. No financial terms were disclosed for the deal, which will result it PMR being merged with existing Riverside portfolio company RCS Management Corp., a respiratory care provider for more than 1,000 facilities. www.riversidecompany.com www.rcsoxygen.com
Francisco Partners has completed its $18.50 per share buyout of Metrologic Instruments Inc. (Nasdaq: MTLG). Hedge fund Elliott Associates and Metrologic chairman and interim CEO Harry Knowles co-invested alongside Francisco. www.metrologic.com
Allied Capital is committing $124.1 million to sponsor the management buyout of Huddle House Inc., a Scottsdale, Ga.-based franchisor of more than 400 family dining restaurants. Allied's participation took the form of a senior revolving credit facility, a senior term loan, senior subordinated notes and a majority of the common equity. Huddle House senior management […]
Cadent Energy Partners has agreed to acquire a 60% ownership position in Logan Oil Tools Inc., a Houston, Texas-based provider of fishing tools and products to the oil industry, according to LBO Wire. The report adds that Energy Special Situations Fund will take a 15% stake. www.loganoiltools.com
Coller Capital is in talks to acquire the assets of Ritchie Capital's largest hedge fund, according to The Wall Street Journal.
Odyssey Investment Partners has agreed to acquire Wastequip Inc. from DLJ Merchant Banking Partners. No financial terms were disclosed. Wastequip is a Cleveland-based designer, manufacturer and marketer of equipment used to collect, process and transport solid, liquid and semi-liquid waste materials. Credit Suisse has committed to provide leveraged financing for the transaction, and also served as financial […]
The Carlyle Group has competition for Dallas-based roofing and building products company ElkCorp (NYSE: ELK). Carlyle earlier this week had agreed to buy the company for approximately $1 billion (including the assumption of $173 million in net debt), or $38 per share. But ElkCorp confirmed yesterday that it now has a $40 per share offer […]
Raytheon Co. (NYSE: RTN) has agreed to sell its Raytheon Aircraft Co. unit to Onex Corp. and Goldman Sachs for $3.3 billion. The company had retained Credit Suisse in July to explore “strategic alternatives” for the unit, and reportedly had received alternate bids from The Carlyle Group and Cerberus Capital Management. www.raytheon.com