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SeaCube Container Leasing has started its initial public offering of 2.5 million primary common shares, as well as the offering of seven million secondary common shares, by Seacastle Operating Company, an entity indirectly owned by private equity funds managed by an affiliate of Fortress Investment Group.
The shares were priced at USD10 per share.
Fortress funds acquired the company in 2006 and will indirectly own approximately 47 per cent of SeaCube after the closing of the offering and prior to the exercise of over-allotments, if any.
In connection with the offering, SeaCube granted the underwriters a 30-day option to purchase
Bacchus Capital Management, a San Francisco-based investment firm specialising in mezzanine and private equity wine industry investments and consulting, has been retained by Pietra Santa, a Central Coast winery, to provide advisory services.
The consulting services will focus on sales and distribution.
"Pietra Santa is at a critical point in its evolution, and our goal is to enhance the momentum of the last few years," says Gayle Dargan, general manager of Pietra Santa. "We’ve just concluded a phase of substantial vineyard investment, adding Pinot Noir from the ground up, and are now expanding our sales and marketing infrastructure. Our relationship
GB Merchant Partners, the investment management affiliate of Gordon Brothers Group, has provided a term loan to VAS Aero Services, a provider of aftermarket aviation component services and distribution.
VAS Aero Services sources, warehouses and markets aftermarket components across a broad range of aircraft and engine platforms and provides related services to airlines, leasing companies and MRO providers.
The term loan is supported by inventory and accounts receivable.
VAS Aero Services, formerly a division of AB Volvo known as Volvo Aero Services, was acquired by an affiliate of H.I.G. Capital in early October 2010.
"We view aftermarket aviation component services
Maven Capital Partners has led a GBP5.5m investment into Flexlife, an Aberdeen-based energy service business.
Maven has syndicated the deal with the energy sector fund Simmons Parallel Energy.
The new funding package will help support Flexlife through its next phase of development, allowing it to maximise revenues from existing customers, develop into new markets and expand the business.
Flexlife provides subsea project management and integrity management solutions to the oil and gas sector. The company has developed a patented non-invasive method of ultrasonic scanning for flexible pipes, known as risers, which connect to the subsea infrastructure, helping to identify flooding
StepStone Group has completed the transaction whereby Citi transferred the management of certain of its fund of funds, mezzanine funds, feeder funds, and co-investment business to StepStone.
In connection with this event, StepStone will provide ongoing management and advisory services for certain of CPE’s USD4bn fund of funds, mezzanine, feeder, and co-investment funds.
In addition, Lexington Partners, a private equity sponsor, completed the purchase of a portion of Citi’s proprietary interests in certain fund of funds, mezzanine and co-investment funds.
“We are excited to move forward with this significant expansion of StepStone’s private equity investment management activities and capabilities. We
CommScope, a provider of infrastructure solutions for communications networks, has entered into a definitive merger agreement with alternative asset manager The Carlyle Group in a transaction valued at approximately USD3.9bn that will result in CommScope becoming a private company.
The transaction is expected to close in the first quarter of 2011.
Under the terms of the merger agreement, Carlyle will acquire all of the outstanding shares of CommScope common stock for USD31.50 per share in cash. This represents a premium of approximately 36 per cent over CommScope’s closing stock price on 22 October 2010, the last trading day prior
Jersey Finance has welcomed the Council of Minister’s proposals to retain the jurisdiction’s personal taxation rate at 20 per cent.
Setting out his budget proposals, Treasury and Resources Minister Senator Philip Ozouf said ministers wanted the States of Jersey Assembly to send out a powerful message that it would maintain the 20 per cent rate, describing it as one of Jersey’s key elements of stability and economic success for more than 60 years.
Geoff Cook, chief executive, Jersey Finance, says: “The Council of Minister’s proposals provide the reassurance and certainty that investors need and will be particularly welcome to those
European Parliament and Council negotiators on Tuesday overcame the final major hurdles to an agreement on the Alternative Investment Fund Managers Directive.
Parliament pushed through new chapters on asset stripping and remuneration principles, as well as influencing the rules on the passporting system, depositary liability, capital requirements, and use of leverage.
Over a year in the making, this often-controversial law will impose registration, reporting and initial capital requirements on a financial industry sector which until now has been subject only to "light touch" regulation.
Alternative investment funds, notably hedge funds and private equity, will be subject to more substantial regulatory
Kohlberg Kravis Roberts has formed a partnership with RPM Energy, a privately-owned oil and gas exploration and development company led by energy professionals Claire Scobee Farley and David Rockecharlie.
The partnership, RPM Energy Partners, will target opportunities to be a joint venture partner with E&P companies that are well positioned in the large unconventional resource plays throughout North America.
Financial details and terms of the transaction were not disclosed.
“KKR is excited to partner with Claire and David. Both have a deep knowledge of the energy sector – from operations to business development – and we are thrilled to partner
Bertram Capital, a private equity firm headquartered in California, has promoted Ryan Craig and Stephanie Ho to principal.
Craig leads the firm’s investment in One Distribution (Supra Footwear and KR3W Apparel) and also serves as a director with Bertram general partner Ken Drazan on the firm’s investment in Genascis.
Craig joined Bertram Capital in 2006 and is a founding member of the firm’s investment team, focusing on deal execution and portfolio company management in the healthcare and consumer sectors.
Prior to Bertram, Craig worked on strategic transactions for Health Net, one of the country’s largest managed care organisations.
Ho leads
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