November 11, 2011 |
Private-equity firm TPG Capital, L.P., has agreed to purchase Northeast Philadelphia-based automotive parts remanufacturer Cardone Industries in a deal expected to close by year's end, Cardone announced Friday. No terms were disclosed but the family-owned company said it had signed definitive agreements to sell its North American operations to the private investment firm. TPG Capital will become the controlling shareholder and work with the family to "continue the company's growth," Cardone said in a statement.
June 9, 2016 |
Elemica Inc., a Wayne company founded in 2000 as an e-marketplace by eight major chemical manufacturers, is being sold to Thoma Bravo L.L.C., a San Francisco private-equity firm. The price for Elemica, which has evolved into broader supply-chain and logistics network, was not disclosed. Elemica employs 75 in Wayne and 200 worldwide, a spokeswoman said. firstname.lastname@example.org 215-854-4651 @InqBrubaker
August 24, 2013 |
A Dallas, Texas, private-equity firm, Panda Power Funds, is acquiring Moxie Energy's planned Liberty Generating Station in Bradford County, Pa., billed as the first power plant developed to use natural gas from the Marcellus Shale formation. The 829-megawatt plant will produce enough power to supply 1 million homes. Panda will immediately start construction on the 33-acre site in Asylum Township and expects operations to begin by early 2016. The plant will contain twin combined-cycle Siemens gas turbines, manufactured in North Carolina.
August 2, 2011 |
Maybe we've found Joshua Harris' weakness: He doesn't have much of an outside shot. He's competitive, aggressive, strong going to the basket, solid defending, but perhaps can be allowed a little room on the perimeter. Harris, head of the investment group whose ownership of the 76ers is pending approval by the NBA board of governors, seems like a man with few weaknesses: He's a billionaire, a respected businessman, a family man, and an athlete - not necessarily listed in order of importance.
April 24, 2012 |
John Fortin, 89, who bought a small chemical manufacturer in North Philadelphia and turned it into a major chemical supply-chain management company, died Friday, April 20, of complications from a stroke at his home in Hershey's Mill in West Chester. "He lived a full life. He didn't get cheated," said his son, Thaddeus J. Fortin, chief executive officer of Haas Group International. In 1975, Mr. Fortin, then a salesman with Quaker Chemical in Conshohocken, bought Charles J. Haas in North Philadelphia, which had about $150,000 in revenue and three employees.
September 15, 2011
Inverness Graham, a Newtown Square private equity firm, raised $151.5 million from institutional investors for its second investment fund, Inverness Graham II L.P., the company said. Inverness Graham invests in companies focused on wireless and mobility; medical and health care; and the energy and power industries. The new fund, which closed Aug. 31, already has made three investments this year. The $151.5 million includes $10 million in a parallel fund that makes the same investments.
March 26, 2013 |
Checkpoint Systems Inc., of Thorofare, has agreed to sell its CheckView business to a California private-equity firm, Platinum Equity, for $5.4 million in cash. The CheckView security-systems integration business employs about 225 people in Canada and the United States. The transaction is expected to be completed by the end of April. Shares of Checkpoint, which makes anti-theft systems for retailers, closed at $13.45, up 10 cents or 0.8 percent Monday. Contact Mike Armstrong at 215-854-2980 or email@example.com , or @PhillyInc on Twitter.
October 18, 2011
Graham Partners, a Newtown Square private equity firm, said one of its portfolio companies, which makes rugged wireless communications equipment, had purchased Quatech Inc. for $10.5 million. Quatech, a producer of wireless communications equipment, is based in Hudson, Ohio, and has more than $8 million in annual revenue, Graham said. Quatech is now part of B&B Electronics, which is based in Ottawa, Ill. Graham did not disclose the annual revenues of B&B, which it bought in 2008 in partnership with Inverness Graham Investments, also of Newtown Square and also sponsored by the Graham Group of York.
September 20, 2011
International Battery Co., an Allentown manufacturer of large lithium-ion batteries, said today it named Dennis Sadlowski as chief executive officer. He was president and CEO of Siemens Energy & Automation, a division of the German industrial giant. Sadlowski replaces Ake Almgren, who becomes chairman. Mark P. Mills, who represents a private equity firm that invested $35 million in International Battery last year, is moving from chairman to executive vice chairman.