VCJ Staff
Residential Credit Solutions Inc. has been formed as a Fort Worth, Texas-based residential mortgage investment and servicing company focused on credit-sensitive and servicing-intensive mortgage assets. It is backed by a $125 million capital commitment led by Equifin Capital Partners. Och-Ziff Capital Management also participated. www.equifincapital.com
ECI Partners has sponsored a Gbp56 million management buy-in of Aerial Facilities Ltd., a UK-based provider of products and solutions which extend the coverage of wireless networks. The new management team is led by CEO Ian Brown, who previously served as CEO of Redstone PLC. www.ecipartners.com www.aerialfacilities.com
Wellspring Capital Management has sponsored an equity recapitalization of Wellspring Laboratories Inc., a Saddle Brook, N.J.
Centre Partners Management LLC and affiliate Centre Southwest Partners LLC have formed Nexus Gas Partners LLC, a Dallas-based midstream service provider of natural gas gathering, transportation, processing and related pipeline services to natural gas producers in East Texas and Northwest Louisiana. No financial terms were disclosed. In related news, Nexus announced that it has acquired […]
The Carlyle Group has raised its bid for Dallas-based roofing and building products company ElkCorp (NYSE: ELK) from $38 per share to $40.50 per share. The move comes after ElkCorp received a $40 per share offer from Building Materials Holding Corp. (NYSE: BLG). The total deal is now valued at around $1.05 billion, including the […]
Chrysalis Capital Partners has offered to acquire Malden Mills Industries Inc., a Lawrence, Mass.-based maker of Polartec fleece apparel. The move comes just days after Malden Malls agreed to be acquired by Gordon Brothers Group, and filed for Chapter 11 bankruptcy protection to facilitate the sale. Both offers are worth around $44 million.
LS Power Equity Partners has agreed to acquire six U.S. natural gas fired plants from Mirant Corp. (NYSE: MIR) for approximately $1.41 billion. www.lspower.com www.mirant.com
United Utilities PLC has agreed to sell its BPO subsidiary Vertex Data Science Ltd. to Oak Hill Capital Partners, GenNx360 Capital Partners and Knox Lawrence International. The total transaction is valued at Gbp217.5 million. The deal is expected to close by the end of March. www.vertex.co.uk
Bear Stearns Merchant Banking reportedly has agreed to acquire the Latin American consumer finance subsidiaries of Wells Fargo & Co. for an undisclosed amount. www.bsmb.com
McCarthy Capital of Omaha has sponsored a buyout of Vornado Air LLC, an Andover, Kansas-based manufacturer of branded room comfort appliances. No financial terms were disclosed. www.vornado.com