Suzanne Weinstock
The Carlyle Group affiliate as well as US Renewables Group and Rustic Canyon Partners have provided $42m in financing to ThermaSource for equipment acquisition and services development. The consortium invested $20m in the company in February.
The buyout firm has tacked on 7.5 million shares to its registration for a public float on the New York Stock Exchange and revealed that Fund VII is less than $1bn short of its $15bn target.
Iconic dealmakers Leon Black and Bruce Wasserstein will join forces through a strategic partnership to pursue private equity investments in Europe bringing together Apollo’s private equity prowess with Lazard’s advisory expertise.
Publicly listed Brazilian private equity firm GP Investments has begun fundraising for its fifth private equity fund, less than one year after closing the previous fund on $1.3bn. The firm plans to target both public and private investments.
The agreed financing for SpiceJet exceeds last month’s financing arrangement with distressed specialist WL Ross by 25 percent. The new deal includes ‘participation’ by Dubai-based Istithmar World and SpiceJet director Ajay Singh and a subscription for equity warrants by Goldman Sachs.
Atlantis Plastics has sold off its molded plastics business to the KPS Special Situations spin-out as the distressed plastics company enters into Chapter 11.
The Reader’s Digest Association has agreed to sell school groups and youth-focused fundraising group QSP to Time, which co-owned the unit until 1971. A Ripplewood-led consortium purchased the media company for $2.4bn in 2007.
The private equity mega-firms have agreed to purchase some $8bn in debt from Royal Bank of Scotland in addition to $5bn in debt related to the $18bn buyout of Clear Channel by Bain Capital and Thomas H Lee.
The information technology- and life sciences- focused venture capital firm has closed its 10th fund, with the goal of investing in approximately 60 early-stage US companies.
The Canadian power generation company has rejected an all-cash take-private by LS Power Equity Partners and Global Infrastructure Partners saying that the firms’ ‘highly conditional approach’ undervalues the company.