Benvenue Medical Appoints Two to Board
Benvenue Medical, a developer of minimally invasive solutions for spine repair, has appointed two new members to its board of directors. Thomas M. Prescott, president and CEO of Align Technology and Thomas C. Wilder, president and CEO of Sequent Medical are both experienced in bringing medical technologies to the global marketplace. Investors in Benvenue Medical...
Investcorp Backs Texas Properties
Investcorp‘s US-based real estate arm has acquired an interest in a portfolio of four multifamily properties in Houston, Texas. Investcorp recapitalized the assets with current owner MHP Investments, which will retain an interest in the transaction. Affiliates of MHP currently own and manage approximately 6,000 units in Texas, Florida, and the Mid-Atlantic states. PRESS RELEASE...
Reuters – Accor to Sell Budget Hotel Business to Blackstone
Accor is to sell its troubled US budget hotel business for $1.9 billion to private equity group Blackstone, writes Reuters. The sale includes Accor’s Motel 6 and Studio 6 chains and comprises 1,102 hotels in Canada and the US. Reuters – Accor is to sell its troubled U.S. budget hotel business for $1.9 billion to...
NXT Capital Backs Electronics Sustainability Firm ReCellular
NXT Capital’s venture finance group has provided a multi-million dollar subordinated venture loan to electronics sustainability firm ReCellular. ReCellular has offices in the United States and Hong Kong. PRESS RELEASE NXT Capital’s Venture Finance Group today announced that it has provided a multi-million dollar subordinated venture loan to ReCellular, Inc. This minimally dilutive facility, which...
Reuters – Warburg Pincus and Others Back Quickr
US private equity firm Warburg Pincus and existing investors have pumped $32 million in fresh funds into Indian online classifieds firm Quickr, writes Reuters. Quickr will use the funds to expand across online and mobile platforms. Existing investors that participated in this round include online retail giant eBay, private equity firm Matrix Partners India and...
Reuters – CVC Sells $1.6bn Stake in Formula One
Private equity firm CVC Capital has sold a $1.6 billion stake in Formula One to three investors including BlackRock ahead of the motor racing company’s planned $3 billion initial public offering in Singapore, writes Reuters. The pre-IPO deal cuts CVC’s stake in Formula One to about 40 percent from 63.4 percent. The two other investors...
