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BUSINESS
March 12, 2013 | By Tiffany Hsu, Los Angeles Times
Twinkies, the cult favorite snack brand orphaned by its liquidating parent company, Hostess Brands Inc., may have a new home. The popular product, along with Hostess brands such as CupCakes, Ho Hos and Ding Dongs, is being sold to private equity firms Apollo Global Management and C. Dean Metropoulos & Co. for $410 million. The companies submitted the only qualified bid by the deadline set by the Bankruptcy Court overseeing Hostess' case. The purchase, which includes five bakeries and certain equipment, is headed to court March 19 for final approval.
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BUSINESS
April 9, 2014 | By Ricardo Lopez
Manischewitz, the largest maker of matzo and other kosher foods, has been sold to Sankaty Advisors, a division of Bain Capital LLC, for an undisclosed amount, the two firms said Tuesday.  The premium kosher foods company, founded in 1888, is the No. 1 baker of matzo and produces other baked goods, pastas and gefilte fish under brands that include Manischewitz, Mishpacha and Guiltless Gourmet. "This transaction will allow Manischewitz to continue its storied tradition of producing the highest quality kosher products...
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BUSINESS
July 6, 2007 | From Times Wire Services
Three U.S. congressional panels plan to examine private equity firms and hedge funds at hearings Wednesday, turning a spotlight on an industry that some lawmakers think should pay sharply higher taxes. The vast wealth amassed in recent years by private equity and hedge fund managers is drawing lawmakers' attention like never before, with the Senate Finance Committee set to look into raising taxes on managers' "carried interest" pay.
BUSINESS
December 17, 2013 | By Daniel Miller
Hollywood talent agency William Morris Endeavor and one of its key investors are nearing a deal to acquire sports and media agency IMG Worldwide Inc. for more than $2 billion, according to three people with knowledge of the matter. The deal, expected to be announced later this week, would be a coup for WME and private equity firm Silver Lake Partners in Menlo Park, Calif., which owns 31% of the agency. WME would have access to a trove of new clients and, perhaps most important, a formidable presence in the sports agency business.
BUSINESS
January 13, 2006 | From Reuters
Private equity firms are considering a bid for Borders Group Inc., the Financial Times reported. A Borders spokeswoman said the book and music retailer does not comment on speculation. Texas Pacific Group, Bain Capital, Apollo Management and Leonard Green Partners are the buyout firms considering an offer, the newspaper said. The firms declined to comment.
BUSINESS
November 7, 2006 | From the Associated Press
Linde, a German maker of industrial gases and machinery, sold its forklift division to private equity firms Kohlberg Kravis Roberts & Co. and Goldman Sachs Capital Partners for 3.6 billion euros ($4.59 billion), the company said. Kion Group is the umbrella company for three forklift truck and industrial equipment brands, Linde, Still and Om. It currently has more than 20,000 employees.
BUSINESS
March 14, 2007 | From the Associated Press
Two private equity firms appear to be front-runners in the quest to buy Chrysler Group, the troubled U.S. arm of DaimlerChrysler. Cerberus Capital Management and a consortium of investors headed by Blackstone Group and Centerbridge Partners spent much of last week at Chrysler's Auburn Hills, Mich., headquarters crunching numbers and meeting with top executives, a company official said Tuesday.
BUSINESS
October 23, 2009 | Marc Lifsher
The California Public Employees' Retirement System is reviewing its relationship with private equity firm Apollo Management in the wake of steep losses on investments placed with the New York asset manager. The review began in May and is focused on reducing administrative and management fees, said Pat Macht, a spokeswoman for the Sacramento agency known as CalPERS, which manages $200 billion in retirement assets -- the country's largest pension fund -- on behalf of current and former state and municipal employees.
BUSINESS
December 27, 2008 | Tom Petruno
A private equity firm led by former Goldman Sachs & Co. executives is the likely buyer of IndyMac Bank, according to a report published Friday. The winner of the bidding for the Pasadena thrift is New York-based Dune Capital Management, founded in 2004 by ex-Goldman partners Steven Mnuchin and Daniel Niedich, according to the report on the Mortgage Lender Implode-O-Meter website.
BUSINESS
December 19, 2006 | From the Associated Press
A group of private equity investors has offered to pay as much as $3.4 billion to buy shares of Delphi Corp. and could wind up owning as much as 72% of the auto parts maker in a deal that creates a framework for its emergence from bankruptcy protection, Delphi said Monday. The company -- which makes entertainment systems, chassis, electronics, air conditioning and other components of vehicles -- also said that its board had named President Rodney O'Neal to replace Chairman Robert S.
BUSINESS
December 11, 2013 | By Stuart Pfeifer
Lucky Brand Jeans is coming home again. Los Angeles private-equity firm Leonard Green & Partners has agreed to pay $225 million to acquire Lucky from New York fashion company Fifth & Pacific Cos. The acquisition means that Lucky, founded in Vernon in 1990 and moved last year to a 1940s Art Deco building in downtown Los Angeles, will be locally owned once again. Denim veterans and Lucky co-founders Gene Montesano and Barry Perlman used clever marketing - including the "Lucky You" label stitched into the fly - to create one of the country's most popular mid-level denim jeans.
BUSINESS
November 19, 2013 | By Tiffany Hsu
Carpinteria-based CKE Inc., known for the raunchy commercials and juicy burgers from its Carl's Jr. chain, will be sold to the owner of decidedly G-rated brands Cinnabon and Auntie Anne's. CKE, currently controlled by affiliates of New York private equity firm Apollo Global Management, will change hands to an affiliate of Roark Capital Group, a private equity firm in Atlanta. Roark's portfolio is stuffed with popular food brands such as Wingstop, Corner Bakery Cafe, Seattle's Best Coffee and Arby's.
BUSINESS
November 16, 2013 | By Jim Puzzanghera
WASHINGTON -- Former Secretary of the Treasury Timothy F. Geithner is becoming a financial industry executive, taking a high-level job with the private-equity firm Warburg Pincus, the firm announced Saturday. Geithner, who was a major player in the federal government's response to the 2008 financial crisis and the Obama administration's formulation of economic policy, will become a managing director of the company and a member of its executive management group, Warburg Pincus said.
BUSINESS
September 24, 2013 | By Tiffany Hsu
Popular stationery company Paper Source has changed hands, from Southern California private equity firm Brentwood Associates to investment management firm Investcorp. The financial terms of the deal were not disclosed. The Chicago-based chain, which sells paper goods, gifts and crafting supplies across 23 states and the District of Columbia, was founded in 1983. Brentwood contributed capital in 2007. Since then, Paper Source's store count has increased to 73 units from 21. Now, there are nearly 20 stores in California alone.
BUSINESS
May 25, 2013 | By Joe Flint, Meg James and Daniel Miller, Los Angeles Times
Yahoo Inc., fresh off its $1.1-billion deal this week to acquire personal blogging site Tumblr, got in line Friday to pick up video streaming site Hulu. The late bid by the cash-rich Internet portal giant came on the same day that the Santa Monica company received bids from private equity firms KKR & Co. and Silver Lake Management, said people familiar with the matter. For its bid, Silver Lake teamed up with powerful Hollywood talent agency William Morris Endeavor, said the people, who did not want to be named because the bidding process was confidential.
BUSINESS
March 12, 2013 | By Tiffany Hsu, Los Angeles Times
Twinkies, the cult favorite snack brand orphaned by its liquidating parent company, Hostess Brands Inc., may have a new home. The popular product, along with Hostess brands such as CupCakes, Ho Hos and Ding Dongs, is being sold to private equity firms Apollo Global Management and C. Dean Metropoulos & Co. for $410 million. The companies submitted the only qualified bid by the deadline set by the Bankruptcy Court overseeing Hostess' case. The purchase, which includes five bakeries and certain equipment, is headed to court March 19 for final approval.
BUSINESS
May 14, 2007 | Kimi Yoshino and Martin Zimmerman, Times Staff Writers
Automaker DaimlerChrysler is expected to announce as early as today that it is selling its troubled U.S. auto division -- home to the Jeep Cherokee, the Chrysler 300 and the Dodge Ram pickup -- to a New York private equity firm. Executives at the Stuttgart, Germany-based automaker on Sunday declined to confirm the sale of Chrysler Group, and talks were continuing.
BUSINESS
May 3, 2007 | Josh Friedman, Times Staff Writer
As Hollywood gears up for an expected blockbuster summer season, two of the biggest movie theater chains are offering a rare double feature: themselves. In an initial public offering last week, exhibitor Cinemark Holdings Inc. sold shares worth $532 million. AMC Entertainment Inc. plans to launch an even bigger IPO this week, estimated at as much as $789 million.
BUSINESS
March 7, 2013 | By Tiffany Hsu
Brooding-teen retailer Hot Topic Inc. is about to become family with Talbots Inc., an apparel chain beloved by moms. Hot Topic, a mall staple based in City of Industry, is being sold for $600 million to Sycamore Partners, the private equity firm that this summer bought Talbots for $391 million. The $14-per-share cash price represents a 30% premium over Hot Topic's closing stock price Wednesday and was unanimously approved by the retailer's board, the company said Thursday. But the deal still requires shareholder and regulatory approval.
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