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NEWS
November 11, 2011 | By Maria Panaritis, INQUIRER STAFF WRITER
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.
BUSINESS
June 9, 2016 | By Harold Brubaker, STAFF WRITER
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. hbrubaker@phillynews.com 215-854-4651 @InqBrubaker  
BUSINESS
August 24, 2013 | By Andrew Maykuth, Inquirer Staff Writer
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.
NEWS
September 7, 2016 | By Jonathan Tamari, Washington Bureau
One of the brightest moments of Katie McGinty's tenure as Pennsylvania's environmental secretary began in Bilbao, Spain. At a recycling conference there in 2003, she began courting a wind-turbine manufacturer, Gamesa, that would eventually invest heavily in Pennsylvania, bringing 1,000 jobs to Bucks and Cambria Counties and a U.S. headquarters to Philadelphia. Luring the company was hailed as a coup for the Rendell administration, won McGinty statewide headlines, and later garnered a mention from Republican Chris Christie as he ran for New Jersey governor.
SPORTS
August 2, 2011 | By Kate Fagan, Inquirer Staff Writer
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.
SPORTS
September 8, 2013 | By Jen A. Miller, For The Inquirer
The Philadelphia Distance Run technically died in 2010, when it was turned into a Rock 'n' Roll half-marathon. But now any remains of what had been one of the greatest and fastest half-marathons in the world have been burned away thanks to a business decision by a private equity firm that just happens to be in the race business. Right before Labor Day weekend, the Competitor Group, which operates 38 Rock 'n' Roll races, told elite runners that they would stop paying appearance fees and travel costs, effective immediately.
NEWS
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.
NEWS
March 26, 2013 | By Mike Armstrong, INQUIRER STAFF WRITER
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 marmstrong@phillynews.com , or @PhillyInc on Twitter.
NEWS
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.
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NEWS
September 7, 2016 | By Jonathan Tamari, Washington Bureau
One of the brightest moments of Katie McGinty's tenure as Pennsylvania's environmental secretary began in Bilbao, Spain. At a recycling conference there in 2003, she began courting a wind-turbine manufacturer, Gamesa, that would eventually invest heavily in Pennsylvania, bringing 1,000 jobs to Bucks and Cambria Counties and a U.S. headquarters to Philadelphia. Luring the company was hailed as a coup for the Rendell administration, won McGinty statewide headlines, and later garnered a mention from Republican Chris Christie as he ran for New Jersey governor.
NEWS
August 25, 2016 | By Linda Loyd, STAFF WRITER
Cinven Partners L.L.P., an international private equity firm, announced Tuesday that it will acquire Doylestown-based Bioclinica Inc., which assists pharmaceutical companies and contract research organizations (CROs) in patient clinical trials. Financial terms were not disclosed. Reuters reported that sources said the deal was valued at about $1.4 billion, including debt. Cinven is acquiring Bioclinica - which will remain in Doylestown - from two other firms, Water Street Healthcare Partners and JLL Partners.
BUSINESS
June 9, 2016 | By Harold Brubaker, STAFF WRITER
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. hbrubaker@phillynews.com 215-854-4651 @InqBrubaker  
BUSINESS
October 17, 2015 | By Jacob Adelman, Inquirer Staff Writer
Resmark Land and Housing of Los Angeles has become an equity partner in the redevelopment of South Philadelphia's Mount Sinai Hospital site into 95 townhomes, it said on Friday. The division of the Resmark Cos., a private equity firm, has formed a joint venture on the project with the Bethesda, Maryland-based Concordia Group and Philadelphia's D3 Developers. Sales at the project, called Southwark on Reed, will begin later this year, with first occupancies expected in spring. Resmark said last year that it was joining the Mignatti Cos. to develop housing for the Waterside mixed-use project on the banks of the Delaware River in Bensalem Township.
SPORTS
September 9, 2013 | By Jen A. Miller, For The Inquirer
The Philadelphia Distance Run technically died in 2010, when it was turned into a Rock 'n' Roll half-marathon. But now any remains of what had been one of the greatest and fastest half-marathons in the world have been burned away thanks to a business decision by a private equity firm that just happens to be in the race business. Right before Labor Day weekend, the Competitor Group, which operates 38 Rock 'n' Roll races, told elite runners that they would stop paying appearance fees and travel costs, effective immediately.
BUSINESS
August 24, 2013 | By Andrew Maykuth, Inquirer Staff Writer
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.
NEWS
March 30, 2013 | By Angela Couloumbis, Inquirer Harrisburg Bureau
HARRISBURG - Never leave anything unsaid is a lesson former Gov. Ed Rendell may have relearned the hard way this week. Two days ago, the usually loquacious Democrat had an op-ed piece published in the New York Daily News urging New York state to get over its fears and permit hydraulic fracturing - commonly known as fracking - to seek natural gas within its borders. In the piece, headlined "Why [Gov. Andrew] Cuomo Must Seize the Moment on Hydrofracking," Rendell listed the benefits of natural gas for the region's economic development as well as the nation's energy future.
NEWS
March 26, 2013 | By Mike Armstrong, INQUIRER STAFF WRITER
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 marmstrong@phillynews.com , or @PhillyInc on Twitter.
BUSINESS
January 30, 2013
In the Region Supervalu execs' golden parachutes   As part of the complex $3.3 billion transaction that will mean a new owner for Acme Markets , the top management of Supervalu Inc. will receive a total of $22.8 million in "golden parachute" payments. In documents filed with federal regulators, Supervalu outlined the payments to four senior executives, including $12.8 million promised to Wayne C. Sales, Supervalu's non-executive chairman, who had replaced Craig R. Herkert as chief executive of the struggling grocery retailer July 30. The purchase of Malvern-based Acme and four other supermarket chains by a group of private-equity firms is expected to close by March 31. - Mike Armstrong   Tracking inmates' jobless benefits   Tracking down inmates who receive unemployment benefits while incarcerated in Pennsylvania's state and county prisons will save the state's unemployment insurance fund $12 million a year, officials said in announcing a new program Tuesday to cross-match lists of incarcerated inmates with those receiving benefits.
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