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Hicks Holdings LLC and The Watermill Group have jointly acquired Latrobe Specialty Steel Co. (f.k.a. Timken Latrobe Steel) from The Timken Co. (NYSE: TKR). The deal is valued at $215 million in cash, plus $35 million in assumed liabilities.
Raytheon Co. (NYSE: RTN) is in advanced talks to sell its Raytheon Aircraft Co. unit to Onex Corp. and Goldman Sachs, according to Bloomberg. The company had retained Credit Suisse in July to explore “strategic alternatives” for the unit, and reportedly has received bids from Onex, The Carlyle Group and Cerberus Capital Management. The unit […]
Bruckmann, Rosser, Sherrill & Co. has completed its buyout of restaurant chain Logan's Roadhouse Inc. for an undisclosed amount. Other members of the buyout consortium included Canyon Capital Advisors and Black Canyon Capital and company management. Logan's had been in registration for a $350 million IPO, but formally withdrew the filing earlier this week.
Monomoy Capital Partners has acquired and recapitalized Rossborough Supply Company Inc., a manufacturer of magnesium and aluminum auto parts. No financial terms were disclosed, except that the founding Schlotz family also participated and will continue to hold a minority position. David Scholtz will take over as CEO, while Brad Scholtz will serve as COO. Current […]
Claire's Stores Inc. (NYSE: CLE) has retained Goldman Sachs to help find a private equity buyer, according to Bloomberg. The Pembroke Pines, Fla.-based company is a costume jewelry retailer.
Harrah's Entertainment (NYSE: HET) might receive a second buyout bid, according to a report this afternoon from CNBC. The network said that Penn National Gaming and hedge fund D.E. Shaw are part of a group that might rival an existing $83.50 per share offer from Apollo Management and Texas Pacific Group.
Seven Networks Ltd. (ASX: SEV) of Australia and Kohlberg Kravis Roberts & Co. have formed a joint venture to pursue media opportunities in Australia and New Zealand. Under terms of the agreement, KKR will pay around Au$735 million for a 50% stake in the venture, which also will own Seven's existing television, magazines and online […]
Ripplewood Holdings LLC has agreed to lead a public-to-private buyout of The Readers' Digest Association Inc. (NYSE: RDA) for $17 per share. The total deal is valued at $2.4 billion, with other members of the buying consortium including J. Rothschild Group, GoldenTree Asset Management, GSO Capital Partners, Merrill Lynch Capital and Magnetar Capital. Leverage is […]
North Castle Partners has acquired a controlling interest in Caleel + Hayden Inc., a Denver-based maker and distributor of mineral-based cosmetics and high-end skincare products. No financial terms were disclosed. www.northcastlepartners.com www.caleelhayden.com
Clayton, Dubilier & Rice is in talks to acquire the U.S. Foodservice group of Royal Ahold NV for approximately $5 billion, according to The Financial Times.