![]() Marathon hopes to raise $300 million through an initial public offering. Michael Gross, who co-founded Apollo along with Leon Black in 1990, is now chairman of Marathon Acquisition Corporation, a newly formed special purpose acquisition company (SPAC) created for the sole purpose of buying another company, or more than one. Kane was most recently executive director of Morgan Stanley's Institutional Equities Division. Crist was most recently led Oaktree Capital Management's marketing to family offices and high net worth individuals. Kane have joined GSC Partners' Investment Placement Group as managing directors. The transaction is expected to be closed by the end of June. The consumer packaging segment employs 6,600 people and includes 39 consumer packaging converting operations in the United States and one in Brampton, Ontario. Texas Pacific Group has reached an agreement to acquire the consumer packaging group of Smurfit-Stone Container Corp. Charterhouse purchased the East Hartford, Conn.-based tissue and paper supplier in 1998 and put it on an aggressive buy and build mission, snatching up four paper companies in Michigan, New York, Ontario and Wisconsin. The deal assigns an enterprise value of $455 million to Baker & Taylor, or about 80% more than what Willis Stein paid The Carlyle Group for the company three years ago.Ĭharterhouse Group Inc., a private equity firm that acquires and manages middle-market companies, has agreed to sell Cellu Tissue Holdings Inc. On the deal side, Willis Stein & Partners is selling book, DVD and music distributor Baker & Taylor to another private equity firm, Castle Harlan Inc., which will be the company's third PE owner since 2003. The firm is targeting a first close on the new fund sometime this summer and plans to hold a final close by the end of the year. Like the firm's debut fund, the new fund, which will have a roughly $400 million target, is slated for investments in lower middle-market health care, specialty chemicals and aerospace companies that have enterprise values between $50 million and $250 million. Blackstone Mezzanine Partners II will be headed by Howard Gellis and Salvatore Gentile.Īrsenal Capital Partners has begun talks with existing investors to raise its second buyout fund. Blackstone Mezzanine Advisors, a unit within Blackstone's Corporate Debt Group, will manage the new vehicle. The Blackstone Group has closed its latest mezzanine fund, Blackstone Mezzanine Partners II, with available capital of $1.06 billion, bringing the total mezzanine funds under management to $1.6 billion. Lee reached its first close with relative ease, despite some bumps in the road in recent months, including the departure of the firm's founder and the public scandal around the bankruptcy of former portfolio company Refco. The firm, which has set a target of $8 billion, will cap the fund at $9 billion at the request of its investors. Lee Partners announced a first close of $4 billion on its new fund, Thomas H. Toįind out more about our Alternative Asset Practice visit us at Portfolio companies, as well as other private equity market participants. Specialized communications services to private equity sponsor firms and their Marketwatch (5/14)ĬD&R portfolio company makes two add-on acquisitionsĪshmore moves to adopt private equity-type dealsĮrnst & Young report suggests modest increase in interest in European VCīroadgate Consultants is a leader in providing strategic counsel and ![]() Burger King's investors hope to have it their way with pending IPOīain Capital and TPG are set to cash in on their investment in Burger King, which is expected to raise about $400 million later this week in an IPO.
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