VCJ Staff
The Carlyle Group reportedly has agreed to take a reduced stake in Xugong Group Construction Machinery, in order to help appease Chinese regulators. Carlyle originally agreed to acquire an 85% stake for $375 million, and later cut down its prospective ownership to 50 percent. But today's Wall Street Journal reports that it has now offered […]
Duke Street Capital has acquired Burton's Foods, a UK-based provider of branded and private-label biscuits and snacks. No financial terms were disclosed. CIBC is providing leverage. www.dukestreetcapital.com www.burtonsfoods.com
Svoboda Collins has acquired Border Construction Specialties, a Phoenix, Ariz.
Tripos Inc. (Nasdaq: TRPS) shareholders have approved the sale of its Discovery Informatics business to Vector Capital, as part of a larger plan of company dissolution. The deal is expected to close this week. www.tripos.com
The Carlyle Group has completed its acquisition of Philosophy Inc., a Phoenix
AIG Global Investment Group has closed its acquisition of P&O Ports North America from DP World of Dubai. No financial terms were disclosed, although the asking price was reported to have been around $700 million. DP World acquired the assets last year, via its $6.8 billion purchase of UK-based Peninsular & Oriental Steam Navigation Company, […]
Ares Management and the Ontario Teachers' Pension Plan have completed their acquisition of Pittsburgh-based nutritional products retailer GNC from Apollo Management for a total enterprise value of $1.65 billion. Apollo acquired GNC in 2003 for approximately $750 million, and later filed for a $345 million IPO that it later withdrew due to adverse market conditions. […]
MSD Capital has led a buyout of DentalCare Partners, a Mayfield Heights, Ohio-based dental practice management company, from Blue Point Capital and Beecken Petty & O'Keefe. No financial terms were disclosed for the deal, which also included minority equity participation from North Peak Capital. www.dcpartners.com
Cobasys, a battery maker for hybrid vehicles, is considering strategic options that could include a sale of the company. It currently is co-owned by Energy Conversion Devices Inc. and Chevron Corp., with UBS representing ECD and Goldman Sachs representing Chevron. www.cobasys.com
Macquarie Bank has agreed to acquire the auto garage facilities of UK-based National Car Parks from 3i Group for Gbp790 million. 3i will retain the company's towing services unit. www.ncp.co.uk