An affiliate of Cerberus Capital Management has completed the sale of Guilford Mills, a global leader in automotive and specialty fabrics, to Lear Corporation, a leading global supplier of automotive seating and electrical power management systems, for a total purchase price of USD257 million. The transaction closed on May 31,

Angelo, Gordon & Co’s Private Equity Group has sold Dealer Services Corporation (DSC), America’s largest independent inventory financing provider of used vehicles sold by dealers, to Manheim, Inc, a division of Cox Enterprises. DSC was founded in 2005 by Chairman John Fuller in partnership with Angelo, Gordon’s Private Equity Group

Vets First Choice has closed a USD4 million financing led by new investor Polaris Venture Partners. Also participating were several existing investors including Borealis Ventures, Harbor Light Capital, David Shaw and Black Point Group. Earlier this year Vets First Choice acquired VetCentric.com, creating the market leading veterinary partner-pharmacy provider licensed

Private equity-backed pan-European hostel operator Generator Hostels has opened its latest hostel in Hamburg. The venue is the second Generator hostel to open in Germany, joining the existing Berlin hostel, and is the sixth opening in Generator’s growing European hostel platform.  Generator Hamburg is part of a GBP200 million investment

New York-based private equity firm Arsenal Capital Partners has acquired Copernicus Group Institutional Review Board (CGIRB), a provider of compliance services which play an integral role in the clinical trial process for new drugs and medical devices. Copernicus IRB, established in 1996, is a leading independent provider of federally mandated

In a signing ceremony in Beijing, Russian President Vladimir Putin and Chinese President Hu Jintao this week witnessed the launch of the Russia-China Investment Fund (RCIF). The USD2-4 billion private equity fund, established jointly by the Russian Direct Investment Fund (RDIF) and China Investment Corp (CIC), aims to generate strong

Foresight VCT portfolio company Aquasium Technology Limited (Aquasium) has completed the sale of EBTEC Corporation (EBTEC), the electron beam welding specialist and subsidiary of Aquasium, to EDAC Technologies Corporation (EDAC) for approximately GBP11 million, generating a return of GBP2.7m to the VCT. Foresight VCT made an investment of GBP1.9m in

Entrepreneur James Caan and corporate financier Paul Herman have launched bluebox, an advisory service that they believe will redefine how businesses prepare for sale. Paul Herman, CEO of bluebox, says: “Currently 70pc-90pc of business sales fail. This causes distress to business owners and their families, because of the emotion involved