The New York and London private equity firm named building products veteran Frank Riddick III an advisor.
Boston's Advent International agreed to sell Polish insulation company Bolix to Berger Paints India for a reported $38.6 million.
Dealmakers have been trying to harness Chinas growth for years, helped along by policy changes and a growing ease accessing the region. A recent study by Ernst & Young, however, looks at whether or not this sentiment will continue after the Olympics in the face of weakness in the U.S. and Europe.
Market watchers anticipate the planned 2010 hike in the capital gains tax could keep deal flow steady among family-owned businesses, even if the credit markets and economy continue to suffer.
Siemens VAI Metals Technologies acquired family-run Morgan Construction for about $130 million, and will absorb the steel maker into its Austrian division.
TowerBrook Capital Partners is exploring investment opportunities in the building products area.
Morgan Construction has been acquired by Siemens VAI Metals Technologies for about $130 million, not including about $30 million in debt that came along with the firm.
SK Capital Partners, LP, an affiliate of The Valence Group, a newly formed merchant bank, acquired Aristech Acrylics, an acrylic sheets and solid surface products supplier, from Mitsubishi Corporation.
Building products manufacturer Armstrong World Industries has decided against a sale of the business, citing unfavorable market conditions, specifically the continued deterioration in the U.S. residential housing market and a 'dramatic' tightening of the credit markets.
Thomas & Betts plans to sell its plastic pipe business, which was acquired as part of its Lamson & Sessions buy in November 2007.