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Swander Pace Capital has led a buyout of Gilchrist & Soames, an Indianapolis
ClearLight Partners has acquired Port Washington, N.Y.-based natural juice company Apple & Eve LLC from shareholders that included Weston Presidio. No financial terms were disclosed. Centerview Partners advised Apple & Eve on the transaction. www.appleandeve.com
DETROIT (AP) – The United Auto Workers put Chrysler LLC on notice that a strike is possible if contract talks stall, a person briefed on the talks said, but a labor expert said the union's action could be a bargaining tactic. The union on Sunday gave Chrysler a 72-hour notice of a potential strike, the […]
Not Your Average Joe's Inc., a Dartmouth, Mass.-based operator of casual dining restaurants in Massachusetts and Virginia, has raised $6.2 million in private equity funding. Grace Restaurant Partners provided $3.2 million, while the rest came from existing and new individuals.
Hellman & Friedman has completed its $1.7 billion acquisition of Catalina Marketing Corp., with Catalina delisting from the NYSE. Catalina stockholders received $32.50 per share, while Bear Stearns and Morgan Stanley provided leveraged financing. Catalina was advised by Goldman Sachs. www.hf.com www.catalinamarketing.com
JC Flowers, an alternative asset manager headed by former Goldman Sachs banker Christopher Flowers, is competing with rival US firm Cerberus in the race for beleaguered Northern Rock. According to reports, both firms have been given access to Northern Rock's books. JC Flowers is understood to be considering an approach that would keep the bank […]
Bausch & Lomb (NYSE: BOL) shareholders have approved a $3.67 billion buyout by Warburg Pincus, in which they would receive $65 per share.
Hermes Private Equity has sponsored a management buy-in of UK food manufacturing company Symington's, whose brands include Harriott, Mugshots and Symington's. No financial terms were disclosed. Yorkshire Bank provided leveraged financing. www.hermesprivateequity.co.uk
Hancock Park Associates has agreed to buy Brown & Cole Stores LLC, a Washington state grocery store chain, out of bankruptcy. The Los Angeles-based firm will invest $40 million, as first reported by The Deal. www.brownandcole.com
NEW YORK (AP) – Defaults among companies with speculative-grade credit are likely to more than double over the next year, Moody's Investors Service said Tuesday. Investor appetite for speculative-grade credit has all but disappeared in the past two months. The troubles began as delinquencies and defaults among subprime mortgages — loans given to customers with […]