Pine Tree Equity recaps RevMD :
Pine Tree Equity has recapitalized Westmont, Illinois-based RevMd, a provider of revenue cycle management services focused on insurance claims resolution services and self-pay collections for hospitals, large physician groups and other healthcare providers. No financial terms were disclosed.
Audax buys games and toys maker PlayMonster from Topspin :
Audax Private Equity has acquired Beloit, Wisconsin-based PlayMonster LLC, a maker of games and toys. The seller was Topspin Partners. No financial terms were disclosed. Robert W. Baird & Co. served as financial adviser to PlayMonster while Ropes & Gray served as counsel to Audax.
Capitala and Lineage invest in human anatomy apps creator Visible Body :
Capitala Group and Lineage Capital have made an investment in Visible Body, a maker of human anatomy apps. No financial terms were disclosed. Alantra advised Visible Body on the transaction.
Merit Capital sells AMI to Golden Gate Capital :
Golden Gate Capital has acquired Sparks, Maryland-based Active Minerals International LLC, a provider of specialty industry minerals. The seller was Merit Capital Partners. No financial terms were disclosed. Valence Group served as financial adviser to Golden Gate Capital on the deal while Grace Matthews did likewise for Merit Capital Partners.
GTCR to acquire and merge Ultimus Fund Solutions and The Gemini Companies :
GTCR has agreed to acquire and merge Ultimus Fund Solutions and The Gemini Companies. No financial terms were disclosed. The newly combined company will operate as Ultimus Fund Solutions and be a provider of full service fund administration, accounting and investor solutions to traditional and alternative fund managers. Broadhaven Capital Partners served as financial adviser to GTCR while Raymond James & Associates did likewise for Gemini.
QEP Resources to sell oil and gas assets to Aethon Energy for $735 mln: Reuters :
QEP Resources Inc said on Monday it will sell its oil and gas assets in the Haynesville-Cotton Valley in northwest Louisiana to Aethon Energy Management LLC for $735 million, as it plans to become a pure-play Permian operator.
Inkwell accquires majority stake in Title Boxing Club franchisee Masetak :
The Inkwell Group has acquired a majority stake in Masetak, a Title Boxing Club franchisee. No financial terms were disclosed. Title Boxing Club is a health club franchise. Lape, Mansfield, Nakasian & Gibson LLC provided legal advice to The Inkwell Group on the deal.
Black Knight joins investor base to acquire Dun & Bradstreet :
Black Knight Inc will invest $375 million in Dun & Bradstreet, a provider of commercial data, analytics and insights for businesses. In addition to the investment, Black Knight will join an investment consortium led by CC Capital, Cannae Holdings and Thomas H. Lee Partners L.P. to acquire Dun & Bradstreet. The deal is expected to close no later than the first quarter of 2019.
Ampersand acquires Pacific Biomarkers :
Ampersand Capital has acquired Seattle-based Pacific Biomarkers, a provider of specialty biomarker development and central laboratory testing services for the pharmaceutical and biotech markets. No financial terms were disclosed. Ampersand will merge Pacific Biomarkers with portfolio company NEOMED-LABS.
Online wine retailer Wine.com racks up $32.5 mlm :
Wine.com, an online wine retailer, has secured $32.5 million in financing. The investor was Goldman Sachs Asset Management's private credit group. Wine.com is a portfolio company of Baker Capital Corp.
Sun Capital and StonePoint to buy VantaCore :
Sun Capital and StonePoint Materials LLC have agreed to acquire VantaCore Partners, a producer of crushed stone, sand and gravel. No financial terms were disclosed.
Vespa Capital backs Feefo MBO :
Vespa Capital has backed Feefo's management buyout. No financial terms were disclosed. UK-based Feefo is a reviews and customer insights technology company.
Shore Capital-backed Eyesouth invests in Georgia Eye Associates :
Eyesouth, which is backed by Shore Capital Partners, invested in Georgia Eye Associates. Financial terms weren’t announced. Georgia Eye provides eye care services, including laser cataract surgery, glaucoma treatment, and diabetic eye management, at four clinical locations in Lawrenceville, Buckhead, Tucker and Braselton, Georgia.
CVC to buy minority of DKV Mobility Services :
CVC Capital Partners said Nov. 16 that it agreed to buy a minority of DKV Mobility Services Group. Financial terms weren’t announced. DKV family shareholders, the sellers, will retain a majority of the company, owing 80 percent. DKV issues cards that are used by commercial drivers to pay for fuel, toll and other services in more than 40 European countries without having to carry cash, the Wall Street Journal said.
KKR to buy GeoStabilization International :
KKR has agreed to buy GeoStabilization International. Financial terms weren’t announced. CAI Capital Partners is the seller. GeoStabilization International provides landslide repair and rockfall mitigation services in the United States and Canada.
Salveo Capital invests in Harborside :
Salveo Capital said Nov. 19 that it invested in Harborside as part of its Series B round. Harborside, with locations in Oakland and San Jose, is a cannabis retailer selling flower, concentrates, edibles and other cannabis products.
Gemspring Capital buys Bobit Business Media :
Gemspring Capital has acquired the assets of Bobit Business Media. Financial terms weren’t announced. Bobit, of Torrance, California, is a B2B media company.
Zayo Goup attracts interest from Blackstone, Stonepeak group: Bloomberg :
A group of investors including Blackstone Group and Stonepeak Partners are interested in a take-private of Zayo Group Holdings, Bloomberg is reporting. Including debt, Zayo, which operates an almost 130,000 mile fiber network across North America and Europe, is valued at about $11.1 billion, the story said.
Balmoral acquires VESTA Modular :
Balmoral Funds LLC have acquired an ownership stake in VESTA Modular, a provider of modular buildings. The sellers were Soaring Pine Capital LLC and Wells Fargo Central Pacific Holdings. No financial terms were disclosed.
American Securities buys CPM :
American Securities LLC has acquired Waterloo, Iowa-based CPM Holdings Inc, a provider of engineered process equipment to the animal feed, oilseed processing, extrusion and thermal processing markets. No financial terms were disclosed. BMO Capital Markets Corp acted as a financial adviser to American Securities while Jefferies LLC did likewise for CPM. And, Cypress Associates LLC also served as financial adviser to the CPM board and its majority shareholder.
Apis Capital acquires White Company’s blockchain intelligence and analytics unit :
Apis Capital Management has acquired White Company's blockchain intelligence and analytics division. No financial terms were disclosed.
H.I.G. sells Constructive Media to Sandbox & Co. :
H.I.G. Capital is selling digital education platform Constructive Media, LLC to Sandbox & Co. Financial details of the deal were not disclosed. Digital Capital Advisors Managing Director Elgin Thompson led the transaction.
Clearlake merges portfolio companies to create rental equipment business Knight Energy Services :
Clearlake Capital Group merged its portfolio companies IronGate Energy Services and Knight Oil Tools to create Knight Energy Services, a rental tool company for the North American oil and gas industry. Dwight Gross, former president and CEO of IronGate, will lead the larger company.
Seven Hills recaps Reliable Medical Supply :
Seven Hills Capital has recapitalized Minnesota-based Reliable Medical Supply, a provider of complex rehab technology, clinical respiratory products and durable medical equipment and supplies. No financial terms were disclosed. Wintrust provided senior debt financing to back the transaction while Northcreek Mezzanine and Harbert Credit Solutions provided mezzanine debt along with an equity co-investment. McGuireWoods LLP provided legal counsel to Seven Hills.
AIP to acquire Armstrong Flooring’s wood flooring business for $100 mln :
American Industrial Partners has agreed to acquire Armstrong Flooring Inc's wood flooring business for $100 million. The deal is expected to close at the end of the fourth quarter of 2018. Goldman Sachs is serving as financial adviser to Armstrong Flooring on the transaction with Skadden, Arps, Slate, Meagher & Flom LLP serving as legal counsel.
Swander Pace acquires Bäckerhaus Veit :
Swander Pace Capital has acquired Bäckerhaus Veit Ltd, a Canadian producer of artisan, European-style breads, rolls, buns and soft pretzel products. No financial terms were disclosed. Duff & Phelps Securities Canada advised Bäckerhaus Veit on the transaction.
LCM invests in Xpress Wellness Urgent Care :
Latticework Capital Management has made an investment in Xpress Wellness Urgent Care, an urgent care provider in Oklahoma and Kansas. No financial terms were disclosed.
Vestar Capital invests in IRI :
Vestar Capital Partners is investing in Information Resources Inc. Financial terms weren’t announced. New Mountain Capital is the seller. Once the deal closes, New Mountain and Vestar will jointly govern IRI. IRI, of Chicago, provides data and predictive analytics for companies in consumer goods, OTC health care, retail, financial services, and media. Kirkland & Ellis served as legal counsel to Vestar. Evercore, Morgan Stanley, and Jefferies acted as financial advisor and Fried Frank served as legal counsel to New Mountain and IRI. Jefferies Financial Group, Nomura Securities and Ares Management provided financing.
Clearlake Capital buys TEAM Technologies :
Clearlake Capital Group said Nov. 15 that it acquired TEAM Technologies Inc. Financial terms weren’t announced. Riverside Co is the seller. TEAM Technologies, of Morristown, Tennessee, makes dental and cosmetic tools.
Grey Mountain backs Mann Lake MBO :
Grey Mountain Partners has backed Mann Lake's management buyout. Also, Mann Lake has acquired Kelley Beekeeping from Frandsen Corporation. No financial terms were disclosed. Based in Hackensack, Minnesota, Mann Lake is a provider of beekeeping products to commercial and hobbyist beekeepers while Clarkson, Kentucky-based Kelley Beekeeping is a maker of products for beekeepers.
Audax acquires Colony Hardware :
Audax Private Equity has acquired a controlling stake in Orange, Connecticut-based Colony Hardware Corporation, a distributor of tools, safety products, and other contractor supplies. No financial terms were disclosed. Colony's previous backer Tailwind Capital will retain a minority stake in the company. BB&T Capital Markets was financial adviser to Colony and Tailwind.
Permira to take 50 percent stake in Grobest :
Permira will acquire a 50 percent stake in Taiwan-based Grobest, a provider of functional feed products. No financial terms were disclosed. A shareholder group led by Grobest CEO Ko Chi-kang and Chairman Chen Chun-ping, will also retain a 50 percent stake in Grobest.
AEA Investors buys Numotion from Audax and LLR :
AEA Investors has acquired Brentwood, Tennessee-based Numotion, a provider of complex rehabilitation technology and related mobility solutions. The sellers were Audax Private Equity and LLR Partners. No financial terms were disclosed. Harris Williams advised Numotion on the transaction.
Tecum Capital invests in IT security firm Converged Security Solutions :
Tecum Capital Partners invested in Converged Security Solutions, a cybersecurity company. Akoya Capital Partners, Hillcrest Holdings and current management acquired and merged two Virginia-based security companies Evolver and eVigilant to create Converged Security. Tecum invested subordinated debt and equity into the deal. BMO Harris Bank provided senior debt financing.
General Atlantic bids for Premiership Rugby: Financial Times :
General Atlantic has joined the race to buy a stake in Premiership Rugby, which has already rejected a 275 million pound majority offer from CVC, the Financial Times said. GA’s offer came after other groups also expressed interest, including CVC, the story said. It was unclear whether GA’s offer was higher than CVC’s or for a majority or minority stake.
WindRose Health recaps Traditions Behavioral Health :
WindRose Health Investors LLC has invested in Traditions Behavioral Health through a recapitalization. Financial terms weren’t announced. Traditions Behavioral Health, of Napa, California, provides permanent outsourced physician psychiatric services to institutional and community-based programs.
U.S. building products: untapped potential for PE :
By Nick Gaidai Often overlooked by private equity players due to its cyclicality, the U.S. building-products sector presents a strong case for value-adding investors. Operationally minded PE shops that are able to navigate homebuilding cycles, execute on disciplined bolt-on acquisition strategies and adopt new technologies can deliver returns in the high teens by investing in […]
IGP buys Electric Power Systems International :
Industrial Growth Partners has acquired St. Louis, Missouri-based Electric Power Systems International Inc, a provider of outsourced electrical engineering, testing, repair and maintenance services. No financial terms were disclosed.
KKR invests in Calabrio :
Minneapolis-based Calabrio, a provider of customer engagement and analytics software, has secured an undisclosed amount of funding. The investor was KKR.
Crestline backs Riversand :
Houston, Texas-based Riversand, a SaaS master data management and product information management solution provider, has secured an undisclosed amount of funding. The backer was Crestline Investors.
Dubin Clark invests in ABCOM :
Chicago-based ABCOMRENTS, a provider of event technology equipment rentals and services, has secured funding from Dubin Clark & Company Inc. No financial terms were disclosed. Livingstone's business services team was financial adviser to ABCOM during its partner search.
Johnson Controls sells its power business to Brookfield in $13 billion deal: Reuters :
Johnson Controls International Plc (JCI.N) said on Tuesday it would sell its power solutions business, which makes car batteries, to investment firm Brookfield Business Partners L.P., in a cash deal valued at $13.2 billion.
Skyview acquires Prynt Corp select assets :
Skyview Capital has acquired selected assets of Prynt Corporation, a photo-printing device for for smartphones, from QuickerPics LLC. No financial terms were disclosed.
TorQuest acquires Bartek :
TorQuest Partners has acquired Stoney Creek, Ontario-based Bartek Ingredients Inc, a specialty chemical manufacturer serving food and beverage and industrial end markets. No financial terms were disclosed.
Altacrest acquires Barton Watch Bands :
Altacrest Capital has acquired Austin, Texas-based Barton Watch Bands, a maker of watch bands. No financial terms were disclosed for the deal that was done in partnership with Route 2 Capital Partners.
Blackstone eyes GE assets: Fox Business Network :
General Electric is working with bankers to restructure its business units, sell assets and possibly raise capital, Fox Business Network is reporting. Blackstone is eyeing a potential purchase of GE assets and is continuing to have discussions about possible acquisitions, the story said.
Lovell Minnick buys majority of SRS Acquiom :
Lovell Minnick Partners said Nov. 13 that it closed its majority investment in SRS Acquiom. Financial terms weren’t announced. SRS Acquiom, of Denver, provides a platform of professional services, technology solutions and data for corporate acquirers, private equity firms and venture capital firms involved in M&A settlement support and risk mitigation. Kirkland & Ellis LLP served as LMP’s legal counsel. Cowen and Company acted as financial adviser to SRS Acquiom, while Latham & Watkins LLP served as SRS Acquiom’s legal counsel.
SkyKnight funds car wash operator WhiteWater :
SkyKnight Capital has made an investment in Houston, Texas-based WhiteWater, a car wash operator. No financial terms were disclosed.
Charlesbank to sell Plaskolite to PPC Partners :
PPC Partners has agreed to acquire Columbus, Ohio-based Plaskolite LLC, a provider of transparent thermoplastic sheet products, from Charlesbank Capital Partners. No financial terms were disclosed. William Blair & Co provided financial advice to PPC Partners in the transaction.
PWP Growth Equity backs Quick Med Claims :
Quick Med Claims, a provider of technology-enabled revenue cycle management services for the emergency medical transport industry, has raised an undisclosed amount of funding. The investor was PWP Growth Equity, Perella Weinberg Partners' middle-market private equity group.
SunEast picks up funding from NEC :
New Energy Capital Partners LLC has made an investment in SunEast, a developer of solar-generating projects. No financial terms were disclosed.
Australian PE snubbed twice in a day as firms seek higher offers: Reuters :
BGH Capital, an Australian private-equity firm run by three star dealmakers, was rebuffed on two billion-dollar deals on Monday, underscoring how companies are trying to squeeze out better offers in a market crammed with cash-rich investors.
Da Vinci Capital invests in DataArt :
Da Vinci Capital has made an investment in New York City-based DataArt, a global technology consulting firm. No financial terms were disclosed.
Montagu to buy Eastman Kodak’s flexographic packaging division :
Montagu Private Equity has agreed to acquire Eastman Kodak's flexographic packaging division. No financial terms were disclosed. When the deal closes, the business will operate as a standalone entity that will develop, manufacture and sell flexographic products. The transaction is expected to close in the first half of 2019. UBS Investment Bank provided financial advice to Kodak on the deal while Ernst & Young did likewise for Montagu.
L Catterton Asia invests in Owndays :
L Catterton Asia and Mitsui & Co, Principal Investments Ltd have invested in Owndays Inc. The deal includes the partial transfer of shares held by the current management team. Owndays management will continue to hold a substantial stake. Owndays Inc is a Japanese eyewear brand with retail presence in 10 markets, including Japan, Singapore and Taiwan.
Motive Partners buys control of LPA :
Motive Partners said Nov. 12 that it acquired a controlling stake in LPA. Financial terms weren’t announced. LPA, of Frankfurt, Germany, provides software and advisory services focused on financial services distribution and regulatory compliance solutions. Ernst & Young LLP, Proskauer Rose LLP and Skye Partners served as Motive Partners' advisers in connection with the transaction. Ludwig & Co and Watson Farley & Williams served as LPA's legal adviser.
Aurelius Equity to buy Hellanore :
Aurelius Equity Opportunities said Nov. 12 that it acquired Hellanor from Nordic Forum Holding A/S. Financial terms weren’t announced. Hellanor is an automotive aftermarket wholesaler in Norway. Nordic Forum is a subsidiary of Hella GmbH & Co. KGaA.
Veritas Capital, Elliott clinch $5.5 billion acquisition of Athenahealth: Reuters :
Private equity firm Veritas Capital and hedge fund Elliott Management have agreed to acquire U.S. healthcare software maker Athenahealth Inc (ATHN.O) for $5.5 billion in cash, Reuters reported.
Vista Equity to buy Apptio for about $1.94 bln :
Vista Equity Partners has agreed to buy Apptio Inc in a deal valued at about $1.94 billion, or $38 a share. The deal includes a 30-day go-shop where Apptio can initiate, solicit, encourage, and potentially enter negotiations with parties that make an alternative offer. Apptio, of Bellevue, Washington, provides business management software. Qatalyst Partners served as financial adviser to Apptio, while Wilson Sonsini Goodrich & Rosati was legal adviser to Apptio. Vista's legal adviser is Kirkland & Ellis LLP.
Stada, Angelini among final bidders for $1 bln Bristol-Myers’ Upsa unit, say sources: Reuters :
German drugmaker Stada and Italian healthcare company Angelini are the only industry players to be shortlisted to make final bids for Bristol-Myers Squibb’s French over-the-counter drugs business, sources told Reuters.
TorQuest Partners invests in Cando Rail Services :
Canadian mid-market private equity firm TorQuest Partners has invested in Cando Rail Services Ltd, a Brandon, Manitoba-based provider of specialized rail support services. No financial terms were released. Founded in 1978 by Gord Peters and Rick Hammond, Cando provides a range of rail services that help industrial customers optimize bulk material supply chains and connect to Class 1 railways.
Cornell Capital-led investor group to back KDC :
An investor group led by Cornell Capital is backing Québec-based Knowlton Development Corporation, a maker of of color cosmetics, skincare, haircare, bath and body, fragrance, deodorant, home, health, industrial and auto care products. No financial terms were disclosed. HarbourVest Partners is among the firms in the consortium. Also, previous KDC backers Caisse de dépôt et placement du Québec and Investissement Québec, long-time shareholders of KDC, will rollover a significant stake as part of this transaction. Guggenheim Securities LLC provided financial advice to KDC on the deal while Fasken Martineau DuMoulin LLP acted as legal adviser. And, Weil, Gotshal & Manges LLP and Stikeman Elliott LLP acted as legal advisers to Cornell Capital.
Carlyle invests in fintech platform iCapital :
The Carlyle Group has made an investment in iCapital Network, a financial technology platform. No financial terms were disclosed. Carlyle's news comes on the heels of firms such as BlackRock,The Blackstone Group, BNY Mellon, Credit Suisse Group AG, JPMorgan Chase & Co, Morgan Stanley Investment Management and UBS Financial Services Inc making investments in iCapital.
L Catterton Asia and Mitsui to invest in Japanese eyewear company OWNDAYS :
L Catterton Asia and Mitsui & Co. Principal Investments Ltd are investing in OWNDAYS Inc, a Japanese eyewear company. No financial terms were disclosed.
One Equity agrees to sell PeroxyChem for $625 mln, or ~10.4x Ebitda :
One Equity Partners agreed to sell PeroxyChem, a chemical maker, to Evonik Industries, for $625 million, or around 10.4x Ebitda. The deal is expected to close in mid-2019 subject to regulatory approvals. One Equity acquired PeroxyChem in 2014.
Hicks Equity-backed Drilling Tools buys tool rental business RIK :
Drilling Tools International, backed by Hicks Equity Partners, acquired RIK, Inc., which rents drilling tools to drilling companies in the U.S. Financial terms of the deal were not disclosed. Shane Bullard, founder of RIK, will join Drilling Tools' managing team focusing on business development and technical services.
MavenHill buys Gasser & Sons :
MavenHill Capital has acquired Commack, New York-based Gasser & Sons Inc, a maker of metal components used in mission critical medical, defense and industrial applications. No financial terms were disclosed.
Blackstone, LLOG looking to sell Gulf of Mexico oil exploration venture, say sources: Reuters :
Buyout firm Blackstone Group LP (BX.N) and privately held LLOG Exploration Company are working with an investment bank to sell their Gulf of Mexico oil exploration joint venture for more than $2 billion, sources told Reuters.
Wynnchurch acquires Midland Metal, will merge with Anderson Metals :
Wynnchurch Capital LLC has acquired Kansas City, Missouri-based Midland Metal Mfg., a distributor of fittings, valves, clamps and related products/accessories. No financial terms were disclosed. Wynnchurch will merge Midland with portfolio company Anderson Metals. Vince Hodes, CEO of Midland, will become CEO of the newly combined company.
Pamlico to invest in TRG Screen :
Pamlico Capital has agreed to make an investment in TRG Screen, a provider of enterprise subscription management solutions. No financial terms were disclosed. As a result of the transaction, Polaris Partners will exit its stake in TRG Screen. SunTrust Robinson Humphrey provided financial advice to Polaris Partners and TRG Screen.
Newell Brands to sell Pure Fishing to Sycamore Partners and Jostens to Platinum Equity :
Newell Brands has agreed to sell Pure Fishing to Sycamore Partners and Jostens to Platinum Equity for about $2.5 billion. Both transactions are expected to close in the fourth quarter, J.P. Morgan Securities LLC acted as financial adviser to Newell Brands on the Pure Fishing deal while Jefferies LLC did likewise on the Jostens deal. Pure Fishing is a provider of fishing tackle, lures, rods and reels. And, Jostens is a provider of school memorabilia such as class rings and yearbooks.
Southlake Equity backs Titan Spine :
Mequon, Wisconsin-based Titan Spine, a developer of surface-enhanced spinal interbody fusion implants, has raised an undisclosed amount of Series B funding. The investor was Southlake Equity Group.
OpenGate to buy AICO :
OpenGate Capital has agreed to acquire AICO, an Italian manufacturer of residential stoves, fireplaces, boilers and cookers, from Ambienta SGR. No financial terms were disclosed. The deal is expected to close by the middle of this month.
Buyout firm Thoma Bravo approaches Symantec about acquisition, say sources: Reuters :
Private equity firm Thoma Bravo LLC has approached Symantec Corp (SYMC.O) to express interest in acquiring the Norton antivirus software maker, sources told Reuters.
KKR, Allianz among four contenders for Altice Europe fiber sale, say sources: Reuters :
Rival consortia led by U.S. buyout fund KKR (KKR.N) and Germany’s insurer Allianz (ALVG.DE) are among the four main contenders for a stake in the fiber network business of Dutch-based telecom company Altice (ATCA.AS), sources told Reuters.
Palladin acquires Splash Car Wash :
Palladin Consumer Retail Partners LLC has acquired Greenwich, Connecticut-based Splash Car Wash, a regional operator of car washes. No financial terms were disclosed.
NewSpring invests in Messagepoint :
NewSpring has made an investment in Toronto-based Messagepoint, a provider of customer communications management software and services. No financial terms were disclosed. The capital infusion will be used to expand Messagepoint's R&D initiatives and boost its sales and marketing functions.
Oaktree buys MHW Constructors :
Oaktree Capital Management LP has acquired Broomfield, Colorado-based MWH Constructors, a global construction firm focused on water and energy. No financial terms were disclosed for the transaction that was done in partnership with MWH's management.
Huntington, Tri-W and Reinsurance Group of America recap Jacob Ash :
Huntington Capital Investment Company, Tri-W Global and the Reinsurance Group of America have recapitalized Jacob Ash, a provider of apparel and accessories. No financial terms were disclosed. Brown Gibbons Lang & Company and Meridian Capital provided financial advice to Jacob Ash on the transaction.
Frontenac acquires Motion Solutions :
Frontenac has acquired Aliso Viejo, California-based Motion Solutions, a provider of linear motion, motion control and automation solutions for critical, high technology applications. No financial terms were disclosed. Honigman Miller Schwartz and Cohn LLP served as legal counsel to Frontenac on the transaction.
Gridiron Capital invests in Royal Paper :
Gridiron Capital LLC has made an investment in Phoenix-based Royal Paper, a private label consumer packaged goods company. No financial terms were disclosed.
Tress Capital acquires cannabis advisory firm Turning Points Global :
Tress Capital LLC has acquired California and New York-based Turning Points Global LLC, a cannabis advisory firm. No financial terms were disclosed.
CVC to acquire ConvergeOne for about $1.8 bln :
CVC Capital Partners has agreed to acquire ConvergeOne, a global IT and managed services provider of collaboration and technology solutions. The sellers include Clearlake Capital Group. The value of the deal is about $1.8 billion. The deal is expected to close either in the fourth quarter of 2018 or the first quarter of 2019. Raymond James & Associates and William Blair provided financial advice to ConvergeOne in the deal while Deutsche Bank and UBS Investment Bank did likewise for CVC.
AIP to buy Current from GE :
American Industrial Partners has agreed to acquire Current from GE. No financial terms were disclosed. The deal is expected to close in early 2019. Boston-based Current is a provider of energy efficiency and digital productivity solutions for commercial offices, retail stores, industrial facilities and cities.
Durational Capital and The Jordan Company to buy Bojangles’ :
Durational Capital Management LP and The Jordan Company LP have agreed to acquire fast food restaurant chain Bojangles' Inc for $16.10 per share. BofA Merrill Lynch and Houlihan Lokey served as financial adviser to Bojangles' and its board of directors with Shearman & Sterling LLP providing legal counsel. Citigroup Global Markets Inc. advised the consortium while KKR Capital Markets LLC provided the financing to support the transaction. And, Akin, Gump, Strauss & Feld LLP, Kirkland & Ellis LLP and Seyfarth Shaw LLP served as legal counsel in connection with the deal.
Private equity’s energy moment :
By Richard Aube, Pine Brook To the casual observer, late 2014 through 2017 was a rough time to be invested in the energy industry. The oil market was awash in oversupply, creating a down cycle for the industry and a volatile commodity-price environment that few understood. As a result, even today, someone who took only […]
Riverside Partners sells Eliassen Group to Stone Point Capital :
Stone Point Capital has acquired Reading, Massachusetts-based Eliassen Group, a consulting and talent solutions firm. The seller was Riverside Partners. No financial terms were disclosed.
Battery Ventures acquires Audio Precision :
Battery Ventures has acquired Portland, Oregon-based Audio Precision Inc, a provider of high-performance instrumentation and software for audio testing and analysis. No financial terms were disclosed.
Thoma Bravo to buy software security firm Veracode for $950 million: Reuters :
Thoma Bravo said on Monday it would buy software security firm Veracode for $950 million, the latest addition to the technology-focused buyout group’s cybersecurity portfolio.
Ardian acquires Trustteam from Naxicap :
Ardian has acquired a majority stake in Trustteam from Naxicap. No financial terms were disclosed. Based in Belgium, Trustteam is an information and communication technology provider.
Deutsche’s DWS to buy stake in Dubai-based digital investment firm: Reuters :
DWS Group (DWSG.DE), Deutsche Bank’s (DBKGn.DE) asset manager, has entered into a binding agreement to acquire an equity stake of 15 percent in Dubai-based Neo Technologies, the companies said on Sunday.
U.S. private equity group TPG bids $481 million for Australian pet-care firm Greencross: Reuters :
Australian veterinary clinics operator Greencross Ltd (GXL.AX) said on Monday it has received a A$5.55 a share takeover offer from an entity owned by U.S. private equity firm TPG Capital, valuing the company at A$668.6 million ($481.4 million).
Goldman Sachs to buy second stake in Turkish tourism agency, says statement: Reuters :
Investment bank Goldman Sachs (GS.N) reached an agreement with Turkey’s Jolly Tur to buy a second stake in the company, the Turkish travel agency said on Monday.
Cerberus acquires SubCom :
Cerberus Capital Management has acquired Eatontown, New Jersey-based TE Connectivity's Subsea Communications business, which has rebranded as SubCom, a provider of fiber optic cable systems. No financial terms were disclosed. In addition to the transaction, David Coughland has been named CEO of SubCom.
Abry-backed Confie refinances $220 mln loan :
Confie said Nov. 5 that it completed the refinancing of a new $220 million loan led by Goldman Sachs and Barclays. Confie also has a $90 million revolving credit facility, which is undrawn and will be used to finance future acquisitions and investments in the company. Confie is a portfolio company of Abry Partners.
Providence Equity to exit Vector Solutions :
Golden Gate Capital said Nov. 5 that it agreed to buy Vector Solutions. Providence Equity Partners is the seller. Financial terms weren’t announced. Vector, of Tampa, Florida, provides eLearning and SaaS performance support solutions. Kirkland & Ellis LLP served as legal adviser to Golden Gate Capital. Robert W. Baird & Co served as financial adviser to Providence while Weil, Gotshal & Manges LLP was legal adviser.
Neuberger Berman buys Cartesian Re :
Neuberger Berman has acquired Cartesian Re. Financial terms weren’t announced. The deal for Cartesian Re includes affiliate Iris Re, which manages more than $1 billion in assets under management focusing on the insurance-linked strategies asset class. Cartesian Capital Group formed Cartesian Re in 2009 as a portfolio company.
Partners Group weighs sale of Hofmann Menü-Manufaktur: Wall Street Journal :
Partners Group AG is considering selling German catering company Hofmann Menü-Manufaktur GmbH, the Wall Street Journal reported. Rothschild & Co is advising on the sale which could value Hofman at 500 million euros ($570 million), the story said.
Pfizer weighs sale of women’s health portfolio: Bloomberg :
Pfizer Inc is considering selling its women’s health portfolio as it looks to focus on developing
treatments with higher growth potential, Bloomberg said. A sale of the division could fetch about $2 billion, the story said.
Gen Cap exits CPS Distributors :
Gen Cap America Inc said Nov. 5 that it sold CPS Distributors Inc to an undisclosed buyer. Financial terms weren’t announced. CPS, of Westminster, Colorado, is a wholesale distributor of professional pump, irrigation and landscape supplies.