Private equity buy-out news from around the globe

Private equity buy-out news from around the globe

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• EnCap Investments targets $3.5bn for energy fund 31 Aug 2010. Source: AltAssets. US oil and gas private equity investor EnCap Investments is targeting $3.5bn for a new fund to invest in and create domestic energy companies, according to the Dallas Business Journal.

• US private equity firm Carlyle takes stake in Brazilian lingerie company Scalina 31 Aug 2010. Source: AltAssets. US private equity firm Carlyle has taken a stake in Scalina, Brazil's largest manufacturer and retailer of woman's hosiery and lingerie. Terms were not disclosed, but the firm reportedly paid out BRL215m ($123m) for a 51 per cent stake in the company.

• Candover Investments to wind up, return cash to shareholders 31 Aug 2010. Source: AltAssets. Candover Investments is to wind itself up and return cash to shareholders in the wake of failed takeover plans.

• L Capital Asia tries on Hong Kong's Emperor Watch & Jewellery 31 Aug 2010. Source: AltAssets. A private equity fund backed by French luxury goods conglomerate LVMH has made its third investment in Asia.

• China Banks’ private equity links to be scrutinised by regulator 27 Aug 2010. Source: AltAssets. The exposure of Chinese banks to private equity is to be scrutinised by an industry regulator to ensure banks have taken steps to avoid risk, according to reports.

• UK fund of funds SVG Capital sees asset values bounce back 27 Aug 2010. Source: AltAssets. UK private equity fund of funds SVG Capital has seen its assets rise as portfolio company valuations continue to improve.

• Bain Capital expected to close $1bn Air Medical deal 27 Aug 2010. Source: AltAssets. US private equity firm Bain Capital is expected to acquire Air Medical Group Holdings for almost $1bn, according to the Wall Street Journal.

• Blackstone fights to get IPO appeal thrown out of court 26 Aug 2010. Source: AltAssets. US private equity firm Blackstone is fighting against the revival of an investor lawsuit accusing it of concealing bad investments in the run-up to its 2007 IPO, according to Reuters.

• HgCapital Trust posts 2.9 per cent six month NAV increase 26 Aug 2010. Source: AltAssets. The London-listed arm of UK private equity firm HgCapital has posted a 2.9 per cent increase in net asset value (NAV) for the six month period to 30 June, rising to £291.9m (€356.9m).

• Ratos readies Bisnode for sale 26 Aug 2010. Source: AltAssets. Swedish private equity firm Ratos is reportedly looking to sell portfolio company Bisnode, a business information firm.

• Court Square picks up Fibertech for $500m 26 Aug 2010. Source: AltAssets. US private equity firm Court Square Capital Partners has acquired fiber-optic network leasing company Fibertech Networks from Nautic Partners and Ridgemont Equity Partners for $500m, according to the Wall Street Journal.

• Nautic Partners and Norwest sell medical manufacturer company Gaymar Industries for $150m 25 Aug 2010. Source: AltAssets. US private equity firms Nautic Partners and Norwest have sold Gaymar Industries, a manufacturer of therapeutic mattresses and temperature management products, for $150m.

• Riverside makes 68 per cent IRR on CLC exit 25 Aug 2010. Source: AltAssets. US mid-market investor the Riverside Company has achieved a strong payday on the sale of CLC, a Virginia-based manufacturer of window films.

• Mill Road Capital tucks in to Rubio’s restaurant chain 25 Aug 2010. Source: AltAssets. US private equity firm is to take Mexican food chain Rubio’s Restaurants private. The firm is to pay $8.70 per share, for a reported deal value of $91m.

• HitecVision merges four oil and gas portfolio companies 25 Aug 2010. Source: AltAssets. European oil and gas private equity specialist HitecVision has merged four portfolio companies into a single entity.

• EQT, GS Capital spruce up Danish cleaning services company ISS for IPO 25 Aug 2010. Source: AltAssets. Swedish private equity firm EQT and the buy-out arm of US investment bank Goldman Sachs are readying Danish cleaning services company ISS for an IPO.

• Rutland Partners acquires UK tool hire business 24 Aug 2010. Source: AltAssets. UK turnaround specialist Rutland Partners has acquired Wolseley, a tool and equipment hire business, from parent company Brandon Hire for £43m (€52.4m).

• Triton acquires majority Ovako stake 24 Aug 2010. Source: AltAssets. European private equity investor Triton has acquired a majority stake in Ovako, a Nordic steelmaker.

• 3i looking to sell baby bottle maker for over £200m 24 Aug 2010. Source: AltAssets. UK private equity firm 3i is looking to sell Mayborn, maker of the Tommee Tippee baby bottles, for over £200m (€244m), according to the Independent.

• PAI Partners considers splitting Yoplait in two for sale 24 Aug 2010. Source: AltAssets. French private equity firm PAI Partners is considering dividing yogurt maker into two companies as part of a potential sale of its 50 per cent stake in the business, according to Bloomberg.

• US private equity firm TPG launches second yuan fund 24 Aug 2010. Source: AltAssets. US private equity firm TPG has ramped up its China exposure with the launch of a second yuan-denominated fund in as many days, according to Reuters.

• Thoma Bravo picks up LANDesk Software from Emerson 23 Aug 2010. Source: AltAssets. US private equity firm Thoma Bravo has acquired systems management company LANDesk from industrial conglomerate Emerson Electric.

• JC Flowers, Doughty Hanson among bidders for EBS 23 Aug 2010. Source: AltAssets. Private equity firms Doughty Hanson and JC Flowers are among the bidders lining up for EBS, Ireland’s biggest customer-owned lender, according to reports.