KKR Eyeing PetSmart (PETM) - NY Post Oct 23, 2014 07:34AM

PetSmart (NASDAQ: PETM) has attracted interest from buyout firms including KKR (NYSE: KKR), according the NY Post. KKR is interested in examining the company's books. First-round bids are due by Halloween.


UPDATE: Riverbed (RVBD) Attracts PE Interest, to Contact Buyers in A Week, Says DealReporter Oct 22, 2014 01:32PM

(Updated - October 22, 2014 1:32 PM EDT)

Riverbed Technology (Nasdaq: RVBD) has attracted interest from private equity firms including Thoma Bravo, Vista Equity, Silver Lake, and Bain, according to DealReporter, citing sources. Riverbed will contact buyers and start the sales process next week, the report said.


Lemelson Capital Reports 2% Stake in Geospace (GEOS), Says Fair Value is Above $78 Per Share Oct 20, 2014 02:46PM

Lemelson Capital Management, a private investment management firm, today announced that it has taken a significant position in shares of Geospace Technologies (NASDAQ: GEOS). Lemelson Capital's investment in Geospace Technologies, which will be held in the firm's flagship Amvona Fund, represents approximately two percent of Geospace Technologies' outstanding shares.

Geospace Technologies is a global leader in engineering and manufacturing in the oil and gas sector of the energy industry. "Shares of Geospace Technologies have continued to be dramatically undervalued, trading slightly above tangible book value recently, which the company has managed to grow at an impressive pace of nearly 23 percent per year over the last five years," said Emmanuel Lemelson, Chief Investment Officer of Lemelson Capital Management.

Geospace Technologies closed at $28.01 per share on Friday. Lemelson Capital Management today placed fair value for the shares above $78.

Lemelson Capital Management's Amvona Fund, managed by Emmanuel Lemelson, has garnered substantial attention for several of its high-profile long and short activist positions in publicly-traded stocks. The fund has a widely-publicized short position in Ligand Pharmaceuticals. It also currently has high-profile long positions in American Eagle Outfitters, Inc., Apple Inc., Kulicke & Soffa Industries and World Wrestling Entertainment, Inc.

Since its 2012 inception, Lemelson Capital's Amvona Fund has been named repeatedly as one of the world's top-performing hedge funds. BarclayHedge, a global leader in fund performance ranking and assessment, ranked The Amvona Fund as the world's top-performing "long bias" fund for August 2014.[1] On several occasions over the past two years, The Amvona Fund also has been ranked by Barron's as the top-performing hedge fund in the world. Since September 2012, The Amvona Fund has returned 257 percent gross and 160 percent net through August 31, 2014.

Disclosure: The Amvona Fund, LP is long shares of AEO, AAPL, GEOS, KLIC and WWE and short LGND for its clients.


DDR Corp. (DDR), Blackstone Affiliate Close on $1.9B Shopping Center Portfolio Acquisition Oct 20, 2014 06:16AM

DDR Corp. (NYSE: DDR) and an affiliate of Blackstone Real Estate Partners VII today announced that a joint venture formed by the two entities has closed on the acquisition of 71 shopping centers previously owned by American Realty Capital Properties, Inc. (Nasdaq: ARCP) for $1.93 billion.

The portfolio primarily consists of prime power centers located in Los Angeles, Houston, Denver, Chicago, Atlanta, Washington D.C. and Phoenix and is occupied by high quality retailers such as Whole Foods, Trader Joe's, The Fresh Market, Costco, Target, Walmart, Kohl's, PetSmart, Dick's Sporting Goods, Bed Bath & Beyond, and the TJX Companies. Trade area demographics for the portfolio are in-line with DDR's Prime portfolio featuring average household income of approximately $75,000 and a population of approximately 400,000 people. The average base rent per square foot of the portfolio is 6% below DDR's current prime average, representing a unique opportunity to drive future growth.

Blackstone Real Estate Partners VII, a real estate fund managed by Blackstone on behalf of its investors, owns 95% of the common equity of the joint venture and an affiliate of DDR owns the remaining 5%. DDR will provide leasing and management services and has the right of first offer to acquire 10 of the assets, under certain conditions.

DDR's investment in the joint venture includes approximately $20 million of common equity and $300 million of preferred equity with a fixed dividend rate of 8.5%. DDR also assumed its pro rata share of joint venture debt of $62 million.

The joint venture has assumed approximately $437 million of senior non-recourse debt, which has a weighted average term of 7.1 years and an interest rate of 4.45%. The venture has also originated an additional $800 million non-recourse loan facility, which has a five-year term and an interest rate of LIBOR plus 160 basis points.

David J. Oakes, president and chief financial officer of DDR, commented, "We are pleased to once again announce the closing of a transaction with our partners at Blackstone, further highlighting our ability to source high-quality acquisitions in an opportunistic manner. In consultation with our partner, we are in discussions with various counterparties to sell a portion of the portfolio over the near term with the goals of improving the risk-adjusted returns and maximizing portfolio quality for the joint venture."


Emerson Electric's (EMR) Power Unit Attracts Bidders - Reuters Oct 16, 2014 03:00PM

Timken (NYSE: TKR), Regal Beloit Corp (NYSE: RBC) and Altra Holdings, Inc. (NASDAQ: AIMC) are among companies competing to acquire Emerson Electric's (NYSE: EMR) power transmission solutions business, according to Reuters, citing sources. Private equity firms Warburg Pincus and Onex Corp are also in the race.


More Private Equity

View Older Stories

Oct 16, 2014 06:55AM KKR (KKR) Makes Equity Investment in German IT Automation Firm, arago AG
Oct 14, 2014 01:15PM GlaxoSmithKline (GSK) Seeks Binding Bids for $3B in Older Drugs - Reuters
Oct 10, 2014 08:29AM Blackstone Group (BX) Plans to Spin Advisory Business
Oct 10, 2014 08:29AM Blackstone Group (BX) Plans to Spin Advisory Business
Oct 7, 2014 04:28PM Allied World Assurance (AWH), Blue Vista Capital Enter Investment Agreement
Oct 6, 2014 04:54PM Burlington Stores (BURL) Announces 8M Common Secondary Offering
Oct 6, 2014 08:32AM Hilton Worldwide (HLT) to Sell Waldorf Astoria New York in $1.95B Deal
Oct 1, 2014 08:32AM UPDATE: Northland Capital Markets Upgrades Angie's List (ANGI) to Market Perform on Rumors It Held Talks with Buyers
Oct 1, 2014 07:45AM Consumer Solar Company Vivint Solar (VSLR) Prices IPO at Low End of Range
Sep 29, 2014 03:50PM Computer Sciences Corp. (CSC) Exploring LBO - Bloomberg
Sep 29, 2014 03:50PM Computer Sciences Corp. (CSC) Exploring LBO - Bloomberg
Sep 29, 2014 07:31AM Vista Equity Partners to Acquire TIBCO Software (TIBX) for $24/Share
Sep 25, 2014 01:33PM Dow Chemical (DOW) Starts Sale of Epoxy, Chlorine Businesses - Reuters
Sep 24, 2014 03:29PM PE firms Vista, Thoma Bravo said competing to buy TIBCO Software (TIBX) - Reuters
Sep 18, 2014 03:56PM GNC (GNC) Considering Options Following Contact with Private Equity (VSI)
Sep 18, 2014 03:00PM Vitamin Shoppe (VSI): Activist Investor Seeks Sale - Reuters
Sep 18, 2014 07:14AM SodaStream (SODA) M&A Rumors Lift Stock, Again
Sep 16, 2014 06:53AM KKR & Co. (KKR) Announces Completion of Goodpack Acquisition
Sep 16, 2014 06:33AM KKR & Co. (KKR) Extends ~$164.2M of Financing to GMR Holdings
Sep 16, 2014 06:23AM KKR (KRR) to Acquire Pioneer DJ in ~$551M Deal
Sep 12, 2014 03:30PM UPDATE: Hewlett-Packard (HPQ) May Sell Snapfish - Reuters
Sep 9, 2014 07:09AM The Blackstone Group (BX), TPG Capital Acquire Kensington Group
Sep 5, 2014 02:18PM PolyOne (POL) May Buy Kloeckner - Bloomberg
Sep 5, 2014 11:40AM UPDATE: Alliance Healthcare Services (AIQ) Said to Explore Sale
Sep 3, 2014 05:10PM TIBCO Software (TIBX) Pitching to KKR, Bain - Bloomberg
Sep 3, 2014 04:36PM Allison Transmission (ALSN) Announces 5.4M Common Secondary Offering
Sep 3, 2014 06:26AM KKR & Co. (KKR) Agrees to Sell Versatel Stake in EUR 1.25B Deal
Sep 2, 2014 09:34AM Thoma Bravo to Acquire Compuware (CPWR) in $2.5B Deal
Sep 2, 2014 08:50AM T-Mobile (TMUS) Gains; Rumors Say Iliad Entered Talks with Private-Equity on New Bid
Sep 2, 2014 06:33AM Compuware (CPWR) in Talks for Possible Sale
Aug 28, 2014 08:01AM Monomoy Capital to Acquire Cobra Electronics (COBR) for $4.30/Share
Aug 26, 2014 05:51PM Kleiner Perkins Invested in Snapchat at $10B Valuation - WSJ
Aug 26, 2014 12:07PM Standard General LP Said to Explore Potential Rescue Financing for RadioShack (RSH)
Aug 26, 2014 09:22AM KKR & Co. (KKR) Adds Managing Director of Indonesian Operations
Aug 26, 2014 09:21AM KKR & Co. (KKR) to Take 18% Stake in Chinese Chicken Producer, Fujian Sunner
Aug 22, 2014 02:11PM NeuStar (NSR) Working with JP Morgan on Possible Sale - Reuters
Aug 22, 2014 02:11PM NeuStar (NSR) Working with JP Morgan on Possible Sale - Reuters
Aug 22, 2014 02:11PM NeuStar (NSR) Working with JP Morgan on Possible Sale - Reuters
Aug 20, 2014 01:01PM Shutterfly (SFLY) Would Consider Offers in $60 Area, Says Baird
Aug 20, 2014 10:26AM UPDATE: Hellman & Friedman Said to Approach Shutterfly (SFLY)
Aug 14, 2014 01:43PM UPDATE: Shutterfly, Inc. (SFLY) Active on Chatter
Aug 11, 2014 08:00AM Blackstone Group (BX) Nears Deal to Acquire Haynesville Assets from Shell (RDS-A)
Aug 6, 2014 03:21PM UPDATE: Tibco Software (TIBX) Said to Seek Buyers - DJN
Aug 4, 2014 09:00AM KKR & Co. (KKR) Raises Bid for Treasury Wine Estates to A$5.20/Share
Aug 4, 2014 08:32AM Metabolix MBLX) Enters $25M Financing Arrangement
Jul 31, 2014 07:14AM Colony Capital plans sale of Michael Jackson's Neverland Ranch - Bloomberg
Jul 30, 2014 10:19AM FIMI Opportunity Fund to Acquire 40% of Magal Security Systems Ltd (MAGS)
Jul 30, 2014 07:59AM Carlyle Group (CG) Misses Q2 EPS by 1c
Jul 28, 2014 07:03AM JPMorgan (JPM) to Sell Certain Global Special Opportunities Group Assets Valued at ~$1.3B
Jul 25, 2014 09:04AM SodaStream (SODA) Deal Not Impossible, but Difficult, Says Deutsche Bank
View Older Stories