Millstone Capital buys Native Foods Cafe restaurant chain :
Millstone Capital Advisors has acquired the Native Foods Cafe restaurant chain. No financial terms were disclosed. Founded in Palm Springs, California, Native Foods Cafe is a plant-based fast-casual restaurant group with 13 restaurants in California, Colorado, Oregon and Illinois.
Munich Re in talks to sell MEAG to Guggenheim, says source: Reuters :
German reinsurer Munich Re (MUVGn.DE) is in talks to sell its asset management division to U.S. fund manager Guggenheim Partners, a source told Reuters.
Siris Capital unit to buy Web.com for $2 billion: Reuters :
Web.com Group Inc, a provider of internet domain name registration services, said on Thursday an affiliate of private equity firm Siris Capital would buy the company for about $2 billion in cash.
KKR to buy 50 pct of Altice France’s SFR TowerCo :
KKR has agreed to buy a 49.99 percent stake in SFR TowerCo from Altice France. The deal values SFR TowerCo at 3.6 billion euros ($4.2 billion). SFR TowerCo comprises 10,198 tower sites across France currently operated by SFR.
CRF Health is on the block: Wall Street Journal :
CRF Health Inc, a portfolio company of Vitruvian Partners, has hired Jefferies to explore a sale, the Wall Street Journal reported. CRF, which enables electronic assessments for trial participants, generates EBITDA of 40 million euros ($46.3 million), the story said.
Taiyo Nippon, Carlyle frontrunners to buy Linde and Praxair assets, say sources: Reuters :
Taiyo Nippon Sanso Corp (4091.T) and private equity firm Carlyle Group CG.N have emerged as frontrunners to buy assets that gases groups Linde (LIN1.DE) and Praxair (PX.N) need to divest to seal their planned merger, sources told Reuters.
Oak Hill and Perlitz Strategy Group to buy MWS assets :
Oak Hill Advisors and Perlitz Strategy Group has agreed to acquire the assets of MWS, a German provider of components for the automotive and industrial markets. No financial terms were disclosed. Rödl & Partner was legal and tax adviser on the transaction.
Serent Capital backs Axiom Medical :
Serent Capital has made an investment in Texas-based Axiom Medical, an incident case management and occupational health services provider. No financial terms were disclosed.
TPG to take minority stake in Anastasia Beverly Hills :
TPG has agreed to acquire a minority stake in Anastasia Beverly Hills, a beauty company. No financial terms were disclosed. Imperial Capital provided financial advice to Anastasia Beverly Hills on the deal while UBS Investment Bank and Deutsche Bank did likewise for TPG.
BHP to sell Chilean copper mine to private equity fund: Reuters :
BHP said on Tuesday it has agreed to sell the Cerro Colorado copper mine in Chile to Australian private equity fund EMR Capital.
Warburg Pincus buys Supplier Assessment Services :
Warburg Pincus said June 19 that it acquired Supplier Assessment Services. Financial terms weren’t announced. Capita plc is the seller. Supplier Assessement, provides third party pre-qualification and health and safety accreditation services in the U.K. Supplier Assessment Services includes the Constructionline and Acclaim portfolio of products and services.
Charlesbank, Partners Group to exit Varsity Brands :
Bain Capital Private Equity has agreed to buy Varsity Brands. Financial terms weren’t announced. Charlesbank Capital Partners and Partners Group are the sellers. The deal is valued at $2.5 billion, according to press reports.
Blackstone to buy PSAV :
Blackstone said June 19 that it agreed to buy PSAV. Financial terms weren’t announced. Goldman Sachs and Olympus Partners were the sellers. PSAV, of Shiller Park, Illinois, is an event technology and audiovisual company. Goldman Sachs and Morgan Stanley provided financial advice to PSAV, while Weil, Gotshal & Manges LLP acted as legal counsel to PSAV. JP Morgan served as an adviser to management. Simpson Thacher & Bartlett LLP was legal counsel to Blackstone. AGM Partners, Barclays, Credit Suisse, and Moelis & Co provided financial advice to Blackstone.
Ukraine’s IT sector: a new Mecca for emerging markets PE? :
When people think IT outsourcing, they think Bangalore or Hyderabad or any number of tech hubs in South Asia. But Ukraine is rapidly emerging as a leader in competitive IT services, creating new opportunities for savvy private equity investors. A.T. Kearney’s Global Services Location Index ranks Ukraine among the largest outsourcing markets worldwide. The country’s […]
Polaris to buy ProData Consult :
Polaris said June 20 that it has agreed to buy ProData Consult. Financial terms weren’t announced. ProData, of Denmark, is an independent IT consultancy focused on business and IT consultants.
CVC in talks to buy Recordati pharma business: Financial Times :
CVC is in advanced talks to buy a controlling stake in the pharmaceutical business of Italy’s billionaire Recordati family, the Financial Times reported. A deal, valued at 3 billion euros ($3.5 billion), could be reached before the end of the month, the story said.
MSCP invests in Comar :
Morgan Stanley Capital Partners has made an investment in Voorhees, New Jersey-based Comar, a rigid plastics packaging manufacturer of bottles, containers, liquid dosing devices and closures for the healthcare and wellness industry. No financial terms were disclosed. Jones Day advised MSCP on the transaction.
Cylance procures $120 mln :
Irvine, California-based Cylance Inc, a cybersecurity company, has secured $120 million in funding. The investors included funds managed by Blackstone Tactical Opportunities.
KKR close to signing deal for Altice’s telecom towers, say sources: Reuters :
Private equity firm KKR (KKR.N) is close to buying a stake in the telecom towers business of Altice (ATCA.AS), three sources told Reuters, a deal that will help the telecoms and cable group to pay down debt and reshape its European operations.
Abu Dhabi Investment buys stake in UK insurer PIC: Reuters :
The Abu Dhabi Investment Authority (ADIA) said on Tuesday its private equity department would acquire a stake of up to 21.4 percent in Pension Insurance Corporation Group from funds advised by private equity firm J.C. Flowers & Co.
Private equity firm Veritas to buy Cotiviti in $4.9 billion deal: Reuters :
Private equity firm Veritas Capital will buy Cotiviti Holdings Inc (COTV.N) in a deal valued at $4.9 billion, the U.S. healthcare analytics company said on Tuesday.
Bain Capital nears deal to buy Varsity Brands for $2.5 billion: CNBC :
Bain Capital Private Equity is nearing a deal to buy cheerleading uniform and equipment retailer Varsity Brands for $2.5 billion, CNBC reported on Tuesday, citing sources familiar with the matter.
HGGC closes RPX acquisition : HGGC
has has closed its previously announced acquisition of RPX Corporation
, a provider of patent risk and discovery management solutions. No financial terms were disclosed; however, a previous report
of this deal pegged the amount of the transaction at $10.50 per share or about $555 million.
H.I.G. Capital completes Elekeiroz buyout :
H.I.G. Capital has closed its previously announced acquisition of Elekeiroz, a Brazilian chemicals manufacturer, from Itaúsa. The price of the transaction was R$160 (about $42.4 million). The Valence Group advised Itaúsa on the deal.
Genstar to buy Drillinginfo :
Genstar Capital has agreed to acquire Austin-based Drillinginfo, a software, data, and analytics platform for the energy value chain. No financial terms were disclosed. At the losing of the deal, Insight Venture Partners will retain a "significant" minority stake in Drillinginfo.
GameStop in talks with buyout firms after drawing interest: Reuters :
Video game and electronics retailer GameStop Corp is holding talks with private equity firms about a potential transaction after receiving buyout interest, Reuters reported.
Fosun to buy FFT GmbH :
Fosun International Ltd said June 19 that it agreed to buy FFT GmbH & Co KGaA. Financial terms weren’t announced. ATON GmbH is the seller. FFT provides automated and flexible turn-key production systems.
EQT, PSP Investments in exclusive talks to buy Azelis :
Apax Partners said June 19 that has entered exclusive talks to sell Azelis to EQT Partners and PSP Investments. Financial terms weren’t announced. Azelis, of Belgium, is a distributor of speciality chemicals and food ingredients.
Ironwood Capital funds CSI :
Ironwood Capital has made an investment in Tallahassee, Florida-based Consulting Solutions International, a provider of contract consultants for IT and staff augmentation. No financial terms were disclosed.
Spire Capital invests in DQ :
Spire Capital has made an investment in Greensboro, North Carolina-based Dynamic Quest, a managed service provider offering IT and cloud services to enterprises and businesses. No financial terms were disclosed. IT ExchangeNet provided financial advice to Dynamic Quest on the transaction. In addition to the funding, David Schaible, Andy Armstrong, Anthony Cassano and Rupali Varma will join DQ's board of directors.
General Atlantic to sell CLEAResult to TPG Growth and The Rise Fund :
TPG Growth and The Rise Fund have agreed to acquire Austin, Texas-based CLEAResult, a provider of energy efficiency solutions for utility companies. The seller is General Atlantic. No financial terms were disclosed. The deal is expected to close later in the year. KeyBanc Capital Markets Inc. and Robert W. Baird & Co. provided financial advice to TPG while J.P. Morgan and Piper Jaffray did likewise for General Atlantic.
CITIC Capital offers to buy China Biologic for $110 per share: Reuters :
A unit of Chinese investment firm CITIC Capital Holdings Ltd said on Monday it has offered to buy U.S.-listed biotech firm China Biologic Products Holdings Inc (CBPO.O), in a deal valuing the company at $3.65 billion.
Memory care provider Silverado inks $45 mln :
Silverado, a memory care provider, has secured $45 million in funding. The investor was Artemis Real Estate Partners. Coker Capital Advisors was financial adviser to Silverado on the deal. The capital will be used to develop Silverado's memory care communities and support its hospice, palliative care and at home offerings. In addition to the funding, Kelly Sheehy, a principal and managing director of Artemis, will join Silverado’s board of directors.
Tengram buys online beauty retailer Lime Crime :
Tengram Capital Partners has acquired Los Angeles-based Lime Crime, an online beauty retailer. No financial terms were disclosed. In addition to the funding, Lime Crime has appointed Stacy Panagakis as CEO. Panagakis is the former general manager of Fresh.
Vintage Capital to buy Rent-A-Center for about $1.3 bln :
Vintage Capital has agreed to acquire Plano, Texas-based Rent-A-Center Inc, a furniture retailer, for $15 per share in cash or about $1.365 billion. The deal is expected to close by the end of 2018.
Northleaf acquires stake in Lal Lal Wind Farms from Macquarie Capital :
Northleaf Capital Partners has acquired a minority stake in Lal Lal Wind Farms, two wind generation projects in Australia. The seller was Macquarie Capital. No financial terms were disclosed. The wind farms are scheduled to be fully operational by the second half of 2019. Also, Northleaf has opened an office in Melbourne, Australia.
Novacap closes $220 mln Horizon Telecom buy :
Novacap said June 18 that it finalized its buy of Horizon Telcom. The deal was valued at more than $220 million. Horizon provides fiber-optic bandwidth infrastructure services operating primarily in Ohio. Novacap said it partnered with Hamilton Lane, HarbourVest Partners and RCP Advisors to complete the transaction.
Tensions rise as private equity-backed companies push limits: Reuters :
Investors are taking the fight against an assault on leveraged loan documentation to the courts as more private equity-backed companies, such as troubled retailer PetSmart, seek flexibility that could lead to raising new debt, Reuters reported.
Revetas, Goldman Asset Management buy TriGranit :
Revetas and Goldman Sachs Asset Management have acquired TriGranit. Financial terms weren’t announced. TPG Real Estate, the real estate platform of TPG, is the seller. TriGranit’s portfolio of Central and Eastern European assets include total gross leasable area of over 173,000 sqm, made up of Class A office buildings fully leased to international tenants and three Class A permitted office development projects.
Intesa CEO talking to several investors over wealth management deal: Reuters :
Intesa SanPaolo (ISP.MI) is still in the early stages of looking for an investor in its wealth management unit and is talking to several potential partners, the chief executive of Italy’s biggest retail bank said on Friday.
Apollo pauses plans to sell security firm Constellis, say sources: Reuters :
Apollo Global Management (APO.N) has halted plans to sell U.S. military security services business Constellis after talks with Canada’s Garda World Security Corp [GWSC.UL] broke down, sources told Reuters.
Brussels Airport to go on sale after shareholders settle dispute, say sources: Reuters :
Investors Ontario Teachers Pension Plan (OTPP) and Macquarie have settled a legal dispute over Brussels Airport, allowing the sale of the transport hub to go ahead after the summer, sources told Reuters.
Oak Hill leads recap of VetCor :
Oak Hill Capital has led a recapitalization of VetCor, an operator of veterinary hospitals in the U.S. No financial terms were disclosed for the transaction that was done alongside VetCor's previous backers Harvest Partners LP, Cressey & Company and VetCor management. Jefferies LLC served as financial adviser to VetCor.
GI Partners to buy and combine sperm and egg donor bank, stem cell storage company :
GI Partners agreed to buy California Cryobank, a donor sperm and egg bank, and Cord Blood Registry, a stem cell collection and storage company. GI plans to combine the two companies, which will serve about 600,000 families across more than 30 countries. The combined deal is expected to close in the third quarter. The deal will be GI’s fifth platform investment from Fund V, which closed on $2.8 billion last year.
CVC to sell Delachaux Group stake to Caisse de dépôt, family :
CVC Capital Partners has agreed to sell its interest in the Delachaux Group, a French industrial and manufacturing company focused on rail infrastructure, energy and data management systems, and chronium metal. The buyers are Caisse de dépôt et placement du Québec and the Delachaux family. No financial terms were disclosed. CVC, a European private equity firm, took Delachaux Group private in 2011 in partnership with the founding family. The company’s sale will result in the suspension of a planned initial public offering, initiated in May 2018, and consolidate the Delachaux family’s majority ownership. Delachaux Group was established in 1902.
Australia’s Sirtex picks $1.4 billion Chinese bid over Varian offer: Reuters :
Australia’s Sirtex Medical (SRX.AX) has picked the highest bidder in a takeover battle for the liver cancer specialist, going with a $1.4 billion Chinese offer that trumped U.S. company Varian Medical Systems (VAR.N), Reuters reported.
Borgman Capital acquires three companies :
Borgman Capital has made three acquisitions: Derco Manufacturing, a metal fabricator that makes ergonomic industrial equipment; Lift Products Inc, a maker of ergonomic industrial equipment; and Solution Dynamics Inc, a provider of warehouse, storage and industrial equipment. No financial terms were disclosed.
Warburg Pincus sells Slickdeals to Goldman’s West Street Capital :
Warburg Pincus said June 14 that it has sold Slickdeals to West Street Capital Partners VII, a fund managed by the Goldman Sachs Merchant Banking Division and Hearst. Financial terms weren’t announced. Slickdeals, of Las Vegas, is an online community dedicated to sharing, rating and reviewing deals and coupons in the U.S.
TA Associates buys Global Software, insightsoftware.com :
TA Associates said June 14 that it acquired and merged Global Software Inc and insightsoftware.com International, both providers of ERP reporting and corporate performance management software. Financial terms weren't announced. The new company, called insightsoftware, is led by CEO Michael Lipps, ex-president and COO of MercuryGate International.
Cressey acquires Elite Dental :
Cressey & Company has acquired Chicago-based Elite Dental Partners, a dental support organization. The sellers include Tyree & D'Angelo Partners. No financial terms were disclosed. Houlihan Lokey was financial adviser to Elite Dental on the transaction while Golub Capital provided debt financing.
Thoma Bravo buys and merges MeridianLink and CRIF Lending :
Thoma Bravo has acquired and merged MeridianLink and CRIF Lending Solutions. No financial terms were disclosed. Credit Suisse and Krall & Co. provided financial advice to Thoma Bravo on the deal while Raymond James did likewise for MeridianLink. Based in Costa Mesa, California, MeridianLink is a provider of enterprise business solutions for financial service organizations while CRIF Lending was a subsidiary of CRIF International, which specializes in the development and management of decision support systems.
Stonegate promotes one and hires two :
Stonegate Capital has promoted Ryan Woody to managing director of credit and operations. Woody joined the firm over a year ago. His career includes various credit and operational roles at Wintrust, Bridge Finance Group, Gibraltar Business Capital and Wells Fargo. Also, the firm has hired Dan McCallum as a director on its underwriting and credit team and Karen Szafraniec as a vice president on its credit and operations team.
Bowmark Capital acquires The Instant Group :
Bowmark Capital has acquired The Instant Group, a provider of flexible property solutions. The seller was MML Capital Partners. No financial terms were disclosed. Livingstone advised The Instant Group on the transaction.
BC Partners buys Italy’s Forno d’Asolo in deal valuing group at 300 mln euros, says source: Reuters :
Private equity firm BC Partners has bought Italy’s Forno d’Asolo in a deal that implies an enterprise value for the pastry company of around 300 million euros ($353 million), a source told Reuters.
Brightstar to buy QualTek :
Brightstar Capital Partners has agreed to acquire King of Prussia, Pennsylvania-based QualTek USA LLC, a provider of turnkey solutions to the North American telecommunications and power sectors. No financial terms were disclosed. The deal is expected to close in July.
CD&R and Cardinal Health to invest in naviHealth :
Clayton, Dubilier & Rice and Cardinal Health Inc will jointly invest in Brentwood, Tennessee-based naviHealth, a manager of post-acute benefits for health plans. No financial terms were disclosed. According to terms of the deal, CD&R will acquire about a 55 percent ownership stake in naviHealth while Cardinal Health will retain an approximate 45 percent stake in the company. The transaction is expected to close in the third quarter of this year.
Johnson & Johnson accepts Platinum’s $2.1 bln offer for LifeScan :
Johnson & Johnson said June 12 that it has accepted a $2.1 billion offer from Platinum Equity to buy its LifeScan business. The offer was announced in March. LifeScan makes blood glucose monitoring systems.
Pharos Capital buys CCMC School :
Pharos Capital Group LLC said June 12 that it acquired CCMC School. Financial terms weren’t announced. CCMC, of New Britain, Connecticut, provides special education for students, from age five to 21, who require intensive intervention due to behavioral, emotional and learning challenges. CCMC is an affiliate of Connecticut Children’s Medical Center.
Blackstone in agreement to acquire Australia’s Investa Office Fund for $2.3 billion: Reuters :
Australia’s Investa Office Fund (IOF) (IOF.AX) and Blackstone Group (BX.N) on Wednesday entered into a scheme implementation agreement through which the U.S. private equity giant would acquire real estate investment trust for A$3.08 billion ($2.3 billion), Reuters reported.
Vintage Capital raises Rent-A-Center offer to $14 per share: Reuters :
Buyout firm Vintage Capital Management on Tuesday sweetened its offer for Rent-A-Center Inc (RCII.O) to $14 per share in cash, a day after the retailer ended its sale process saying it had not received a satisfactory takeover offer, Reuters reported.
KKR and Blackstone pursue stake in Swiss sports data group, say sources: Reuters :
KKR (KKR.N) and Blackstone (BX.N) have been picked for a second round of bidding for Sportradar, as investor EQT looks to sell a minority stake that could value the Swiss sports data group at more than 2 billion euros ($2.4 billion), sources told Reuters.
Ironwood Capital backs Bush Industries :
Ironwood Capital has made an investment in Jamestown, New York-based Bush Industries, a maker of "ready to assemble" and fully assembled commercial and home office furniture. No financial terms were disclosed.
Kore Software secures funding from Serent Capital :
Serent Capital has made an investment in Kore Software, a provider of business management software for the sports and entertainment industries. No financial terms were disclosed.
Marlin acquires and merges Bulk TV and DCI :
Marlin Equity Partners has acquired and merged Bulk TV & Internet and DCI Design Communications. No financial terms were disclosed. Bulk TV is an integrator of enterprise video, data and voice solutions while DCI is a provider of data, voice and unified communications. Deloitte Corporate Finance LLC provided financial advice to Bulk TV on the transaction while PEAK Technology Partners LLC did likewise for DCI.
Mainsail Partners funds FairWarning :
Mainsail Partners has made an investment in San Francisco-based FairWarning, a privacy and security company. No financial terms were disclosed. In conjunction with the funding, Mainsail's Michael Anderson, Taylor McKinley and David Farsai have been added to FairWarning's board of directors.
GPB takes majority stake in HPI :
GPB Capital has acquired a majority ownership stake in National Harbor, Maryland-based Health Prime International, a provider of practice management and revenue cycle management solutions for medical practices. No financial terms were disclosed.
Renovo Capital acquires Rochester Gauges :
Renovo Capital has acquired Dallas-based Rochester Gauges LLC, a maker of gauges and sensors that measure liquid levels. The seller was Gas Equipment Company Inc. No financial terms were disclosed.
Capital Partners invests in Sur-Seal :
Capital Partners has made an investment in Cincinnati-based Sur-Seal, a provider of custom-designed sealing solutions along with related components and assemblies. No financial terms were disclosed. Huntington National Bank provided the debt financing for the transaction.
Equistone to sell Karl Eugen Fischer :
Equistone Partners Europe said June 12 that it agreed to sell a majority of Karl Eugen Fischer to Deutsche Beteiligungs AG. Financial terms weren’t announced. Karl Eugen Fischer makes cord-cutting machines for the tire industry. Management will retain a stake.
Travelopia makes Croatia investment :
Travelopia, a KKR portfolio company, has agreed with Brodosplit to build a 200-passenger expedition ship designed for operation in Croatia. Financial terms weren't announced. The ship will offer travel experiences for Travelopia's customers. In a separate deal,Brodosplit, a KKR portfolio company, is also investing in Nova TV.
CVC invests in GarudaFood: Bloomberg :
CVC Capital Partners has invested about $150 million in PT GarudaFood Putra Putri Jaya, Bloomberg is reporting. The investment came ahead of a planned IPO for GarudaFood, which sells Leo brand potato chips and Gery chocolate biscuits, the story said. Garuda is a leading snack maker in Indonesia. CVC also acquired Munchy Group, a Malaysian snack-food maker, for about $250 million, Bloomberg said.
Weatherford considers selling lab business: Bloomberg :
Weatherford International Plc is considering a sale of its laboratory business and has reached out to private equity firms and corporate buyers, Bloomberg is reporting. The plan coincides with CEO Mark McCollum’s plan to cut debt and sell non-core units, the story said. Weatherford is also selling its onshore rig business, Bloomberg said.
Riverside acquires La Ventana Treatment Programs :
The Riverside Company has acquired La Ventana Treatment Programs, a California-based provider of eating disorder programs, as an add-on for its Castlewood platform. No financial terms were disclosed.
Neuberger Berman to buy 25 percent stake in Brazil college Uniasselvi: Reuters :
U.S.-based investment firm Neuberger Berman LLC is close to acquiring a 25 percent stake in Brazilian college Uniasselvi for $100 million, a source told Reuters.
L Catterton, Ambienta to buy Pibiplast :
L Catterton and Ambienta are buying Pibiplast. Financial terms weren’t announced. The Bosi family, the founder and current owner, is retaining a minority stake. Pibiplast, of Correggio, Italy, designs and makes beauty and personal care plastic packaging solutions.
KKR to buy Envision Healthcare for $9.9 bln :
KKR agreed to buy Envision Healthcare for $9.9 billion, including debt. KKR is buying all of Envision’s outstanding stock for $46 a share. The $9.9 billion deal means Envision is selling for a 10.9x trailing 12 months Adjusted EBITDA. Envision is a U.S. physician services provider.
Car auctioneer BCA Marketplace rejects $2.15 billion Reuters :
WeBuyAnyCar owner BCA Marketplace (BCA.L) said on Monday it had rejected a preliminary 1.6 billion pound ($2.15 billion) cash takeover offer from London-based private equity firm Apax Partners, Reuters reported.
KKR nears agreement to acquire Envision for about $5.5 billion: Reuters :
Private equity firm KKR & Co
) is nearing an agreement to acquire U.S. physician services provider Envision Healthcare Corp
) for $46 a share, or about $5.5 billion, a person familiar with the deal told Reuters
Starboard, Apollo seek to invest $131 million in Brazil retailer, says source: Reuters :
Starboard Restructuring Partners and buyout firm Apollo Global Management LLC (APO.N), have proposed to invest in convertible bonds to be issued by Brazilian appliance retailer Maquina de Vendas SA, a source told Reuters.
Aterian buys Standard Furniture Manufacturing Company :
Aterian Investment Partners has acquired Bay Minette, Alabama-based Albany Industries Inc, a maker of home furnishings. No financial terms were disclosed. Kirkland & Ellis LLP advised Aterian on the deal.
H.I.G. invests in Brazilian hospital group Meridional :
H.I.G. Capital has made an investment in Grupo Meridional, a Brazilian hospital group. No financial terms were disclosed.
Ant Financial raises $14 billion in world’s largest-ever single fundraising: Reuters :
Ant Financial Services Group, operator of China’s biggest online payment platform, on Friday said it raised around $14 billion in what market watchers called the biggest-ever single fundraising globally by a private company.
IWG says Starwood Capital, TDR have until June 29 to make firm takeover offers: Reuters :
IWG Plc (IWG.L) said on Friday that U.S. property investment firm Starwood Capital and British private equity fund TDR Capital will now have until June 29 to make firm offers for the company or walk away.
Clovis Point exits majority of its stake in MediaPro :
Clovis Point Capital has exited a majority of its stake in MediaPro as a result of the later's recapitalization by Frontier Capital. No financial terms were disclosed. Based in Bothell, Washington, MediaPro is a provider of security, privacy and compliance awareness training solutions.
IFM, BCI to invest in Ontario Teachers’-owned terminal operator GCT :
Australia’s IFM Investors and British Columbia Investment Management Corp have agreed to invest in GCT Global Container Terminals Inc, a Vancouver-based operator of four marine container terminals in Canada and the United States. No financial terms were disclosed for the deal, which will see IFM and BCI respectively hold 37.5 percent and 25 percent interests. They join existing GTI backer Ontario Teachers’ Pension Plan, which will continue to hold a 37.5 percent interest. Founded in 2007, GTI is led by President and CEO Doron Grosman. In 2016, Reuters reported Ontario Teachers’ was exploring potential deals, including the sale of a significant equity stake.
Kensington recaps Kenona :
Kensington has recapitalized Grand Rapids, Michigan-based Kenona Industries, a precision machining business serving the automotive industry. The transaction, which was done in partnership with Kenona management and co-investors, was for $85 million.
NetRate secures funding from Polaris Partners :
Okemos, Michigan-based NetRate Systems, a workflow platform for commercial insurance, has raised an undisclosed amount of funding. The investor was Polaris Partners. In conjunction with the transaction, Dan Lombard, a partner at Polaris Partners, will be joining NetRate's board of directors.
GI completes acquisition of Advanced Discovery and Consilio, merges both :
GI Partners has closed its previously announced acquisition and merging of eDiscovery companies Advanced Discovery and Consilio. No financial terms were disclosed. BlackArch was financial adviser to Advanced Discovery and its former private equity backer Trivest Partners on the transaction.
ACON and Humus Capital acquire Biosidus :
ACON Investments and Humus Capital Partners have acquired a majority stake in Biosidus, an Argentina-based maker of biosimilar pharmaceuticals. No financial terms were disclosed.
Golden Gate forms PSEB Group, composed of Eddie Bauer and PacSun :
Golden Gate Capital has formed a new company PSEB Group. The new company will be composed of two of the private equity firm's portfolio companies: Eddie Bauer LLC, an outdoor brand offering performance outerwear, apparel, footwear, accessories and gear; and specialty retailer Pacific Sunwear of California LLC. No financial terms were disclosed. Eddie Bauer CEO and President Mike Egeck will serve as CEO of PSEB.
Showpad buys LearnCore :
Showpad, which is backed by Insight Venture Partners, has acquired LearnCore. Financial terms weren’t announced. LearnCore, of Chicago, provides sales training and coaching software. A source said the deal was valued at $50 million.
L Squared provides funding to Kanopy :
L Squared Capital Partners has made an undisclosed investment in Kanopy. Based in San Francisco, Kanopy is a streaming video platform for public libraries and universities.
Battery to acquire LDetek as an add-on for PST platform :
Battery Ventures has agreed to acquire Thetford Mines, Quebec-based LDetek, a maker of gas chromatography instruments and online analyzers, for its Process Sensing Technologies' platform. No financial terms were disclosed. Process Sensing Technologies is a provider of instruments and analyzers for precision measurements.
Consortium to acquire Cory Riverside Energy :
An investor group comprised of Dalmore Capital, Fiera Infrastructure, Semperian PPP Investment Partners and Swiss Life Asset Managers has agreed to acquire UK-based Cory Riverside Energy, a resource management, recycling and energy recovery company. The sellers include Strategic Value Partners, EQT Credit and Commerzbank. No financial terms were disclosed. Macquarie and Rothschild provided financial advice to the buyers.
New Mountain Capital supports MAG :
New Mountain Capital has made an investment in Fairfax, Virginia-based MAG Aerospace, a provider of ISR solutions. No financial terms were disclosed. William Blair served as financial adviser to MAG Aerospace while Wells Fargo and Jefferies did likewise for New Mountain Capital.
Ardian to sell Siaci Saint Honore to management :
Ardian has agreed to sell Siaci Saint Honore, a Paris-based provider of insurance brokerage and consulting services, to its management. No financial terms were disclosed.Edmond de Rothschild, a minority shareholder of Siaci, will sell its stake as part of the deal. Charterhouse is backing the transaction.
Trilantic North America buys majority stake in Sunbelt Transformer :
Trilantic North America has acquired a majority stake in Temple, Texas and Sharon, Pennsylvania-based Sunbelt Transformer, a provider of power solutions, equipment and services for commercial, industrial and utility end markets. The seller was Grey Mountain Partners. No financial terms were disclosed. RW Baird & Co. was financial adviser to Sunbelt on the transaction while Lincoln International LLC did likewise for Trilantic North America.
Arable buys Farmington Fresh Cuts :
Arable Capital Partners has acquired Stockton, California-based Farmington Fresh Cuts, a processor of fresh sliced apples, oranges, pears and other packaged fruits. No financial terms were disclosed for the deal in which Alpine Pacific Capital participated as a minority investor. Farmington will merge with Fresh Innovations, which is also backed by Arable.
L Catterton invests in Goiko Grill :
Spain-based restaurant chain Goiko Grill has secured an undisclosed amount of funding. The investor was L Catterton.
Main Post backs pet food brand Nulo :
Main Post Partners has made an undisclosed investment in Nulo Pet Food. Based in Austin, Texas, Nulo is a pet food brand.