Amanda Janis
A consortium of big-name banks, hedge funds and private equity firms has increased by 2.5 percent its offer for higher education provider Laureate. The board-agreed amendment increases the price-per share to $62, up from $60.50.
Minneapolis, Minnesota-based Norwest Equity has invested alongside Lightyear Capital construction equipment rental firm Neff in a $900 million transaction, and simultaneously announced the sale of logistics services provider Jacobson Companies to Oak Hill.
Carlyle’s purchase of Atlanta, Georgia-based RMI adds to its business services portfolio, while reinforcing investment trends in infrastructure and transport/logistics firms.
The Dallas-based buyout shop is set to sell US meatpacking firm Swift & Company to Latin America’s largest beef processor in a $1.4 billion transaction. HM says it began strategic discussions well before Swift suffered six major immigration raids.
The dramatic bidding war for logistics company EGL has seemingly come to a close: Apollo’s $2 billion bid – nearly 32 percent higher than the first bid made for the firm – has been board-approved, while the competing, Centerbridge-backed group was paid a $30 million break-up fee.
California venture capital firm Emergence has closed its second, online software-focused fund on $200 million.
Equipment rental company RSC Holdings, purchased last year by Ripplewood and Oak Hill, raised $458 million in an initial public offering; the 20.3 million share offering raised less than expected, and the company’s stock has been trading below the IPO’s $22 per share price.
With the closure of its second energy fund on $3.1 billion, LS Power’s 5-year old private equity arm has become one of the world’s 50 largest private equity firms.
Turnaround specialist KPS has closed its third ‘special situations’ fund on $1.2 billion, after receiving commitment requests of more than quadruple its $1 billion target.
Menlo Park, California-based Institutional Venture Partners has closed a $600 million fund – twice the size of its previous fund.