Apollo to buy Cox TV stations in broadcast push: Reuters :
Buyout firm Apollo Global Management LLC has agreed to acquire a majority stake in 14 television stations from privately held Cox Media Group, the company said on Friday, a move that sets up Apollo to become a player in broadcasting, an industry it has sought deals in for some time.
BPOC invests in Health-E Commerce :
Beecken Petty O'Keefe & Company has made a majority investment in Health-E Commerce, a parent company of pre-tax health and wellness shopping sites. No financial terms were disclosed. Financo provided financial advice to Health-E Commerce while O’Melveney & Myers LLP acted as legal adviser. And, Paul Hastings LLP served as legal adviser to Beecken Petty O’Keefe & Company.
Private equity firms win over Scout24 with improved $6.4 billion bid: Reuters :
Hellman & Friedman and Blackstone have won over Scout24 after raising their offer for the online classifieds group to 5.7 billion euros ($6.4 billion) including debt, setting up the biggest takeover of a listed German company by private equity.
Apollo completes take-private Aspen Insurance buyout :
Apollo Global Management has closed its take-private acquisition of Aspen Insurance in an all-cash transaction valued at about $2.6 billion. As a result of the closing, Aspen stopped trading February 15, 2019 on the New York Stock Exchange and the Bermuda Stock Exchange. Goldman Sachs and J.P. Morgan Securities LLC provided financial advice to Aspen on the deal.
Chart National invests in Sequoia Holdings :
Chart National LP has made an investment in Reston, Virginia-based Sequoia Holdings, a provider of software and cloud engineering services for the U.S. intelligence community. No financial terms were disclosed.
OpenGate to buy SMAC from Colas Group :
OpenGate has agreed to acquire SMAC, a French manufacturer of waterproofing and building envelope solutions, from Colas Group. No financial terms were disclosed.
Skyview completes Conduent’s customer care assets acquisition, forms Continuum :
Skyview Capital has closed its previously announced acquisition of Conduent's select customer care assets and formed Continuum Global Solutions. No financial terms were disclosed.
Patisserie Valerie rescued by management with help from Causeway Capital: FT :
Scandal-hit British cafe chain owner Patisserie Holdings has been bought out of administration by its management with help from Los Angeles-based investment management firm Causeway Capital, the Financial Times reported.
CenterGate funds Mid-State :
CenterGate Capital has made an investment in Lakeland, Florida-based Mid-State Industrial Maintenance, a provider of on-site and off-site industrial maintenance and service solutions. No financial terms were disclosed.
Astorg to invest in Anaqua :
Astorg will make a "significant" investment in Anaqua, a provider of intellectual property management solutions. No financial terms were disclosed. As a result of the transaction, Astorg will become the controlling shareholder of Anaqua, replacing Insight Venture Partners and Bessemer Venture Partners.
NewSpring and Larsen MacColl back Turning Point :
Eatontown, New Jersey-based Turning Point, a restaurant chain, has secured an undisclosed amount of funding. The investors were NewSpring Mezzanine and Larsen MacColl Partners.
Main Post invests in Not Your Mother’s :
Main Post Partners has invested in DeMert Brands, parent company of Not Your Mother's. Financial terms weren’t announced. Not Your Mother's, of Tampa, Florida, is a haircare brand, offering shampoos, conditioners and styling products.
Excellere Partners invests in Sepro Corp :
Excellere Partners said Feb. 12 that it has invested in Sepro Corp. Financial terms weren’t announced. Sepro, of Carmel, Indiana, provides plant protection and plant management products and services that fit specialized market needs.
Bow River to recap Kivu Consulting :
Bow River Capital has agreed to recapitalize Kivu Consulting, a cybersecurity consulting firm. No financial terms were disclosed. Bryan Cave Leighton Paisner LLP served as legal adviser to Bow River.
3i backs merger of travel companies ICE and SOR :
3i Group plc is investing $24 million to back the merger of International Cruise & Excursion and SOR Technology. ICE is a tech-based travel-related loyalty solutions company while SOR is a provider of a travel technology platform. 3i originally invested in ICE in June 2018.
Vitruvian puts German fintech Smava up for sale, say sources: Reuters :
Buyout group Vitruvian is putting German consumer credit online platform Smava up for sale, sources told Reuters.
Bain and Carlyle weigh a joint bid for Osram: Bloomberg :
Private equity firms Bain Capital and Carlyle Group are weighing a joint bid for Germany’s Osram Licht, Bloomberg reported on Wednesday.
Millpond invests in Futuri Media :
Millpond Equity Partners has made an investment in Futuri Media LLC, a provider of SaaS technology for audience engagement and sales intelligence to broadcasters and publishers. No financial terms were disclosed. Petsky Prunier served as financial adviser to Futuri Media on the transaction.
Catapult Capital buys JibJab :
Catapult Capital has acquired Los Angeles-based JibJab, a provider of social expression content. No financial terms were disclosed. Reed Smith LLP provided legal counsel to Catapult Capital on the deal.
Investor group to buy U.S Renal Care :
An investor group that includes Bain Capital Private Equity, Summit Partners and Revelstoke Capital Partners has agreed to acquire Plano, Texas-based U.S. Renal Care Inc, a provider of dialysis services for patients suffering from end stage renal disease. No financial terms were disclosed. Goldman Sachs and Barclays are serving as financial advisers to U.S. Renal Care.
Lion Capital acquires DMC Group from BlueGem Capital :
Lion Capital acquired Crafts Group (DMC Group), comprising a portfolio of European needlecrafts brands, from BlueGem Capital Partners. Brands include DMC, Wool and the Gang, Sirdar and Tilsatec. In 2018, DMC Group generated more than 90 million euros of sales across more than 100 countries.
MIP acquires Wheelabrator from Energy Capital :
Macquarie Infrastructure Partners has acquired Portsmouth, New Hampshire-based Wheelabrator, an owner and operator of waste-to-energy facilities. The seller was Energy Capital Partners. No financial terms were disclosed.
Thoma Bravo to take Ellie Mae private in $3.7 bln deal: Reuters :
Private equity firm Thoma Bravo LLC is acquiring Ellie Mae Inc for $3.7 billion, the mortgage software company said on Tuesday.
Darby invests in Biopas :
Darby Private Equity has made an investment in Biopas, a Latin American specialty pharmaceutical distribution company. No financial terms were disclosed.
Monumet recaps MDME :
Monument MicroCap Partners LLC has recapitalized Montgomery DME, a provider of durable medical equipment to hospices located primarily in Los Angeles and surrounding counties. No financial terms were disclosed.
H.I.G. invests in Digital Ware :
H.I.G. Capital LLC said Feb. 12 that it invested in Digital Ware SA. Financial terms weren’t announced. Digital Ware, of Bogotá, Colombia, develops and sells ERP software, payroll human capital management solutions, as well as hospital information systems and business process management applications for business environments.
Acacia Partners exits Perennials & Sutherland :
Acacia Partners said Feb. 6 that it sold its investment in Perennials & Sutherland LLC. Bertram Capital is investing in the company. Financial terms weren’t announced. Perennials, of Dallas, designs and makes 100 percent solution-dyed acrylic performance fabric and rugs for indoor and outdoor use and luxury outdoor furniture. Piper Jaffray advised Perennials & Sutherland while McGuire Woods served as legal counsel.
TRP and Waterfall invest in Flex Fleet Rental :
Salt Lake City, Utah-based Flex Fleet Rental, a provider of medium-term truck rentals to commercial customers, has raised an undisclosed amount of funding. The investors were TRP Capital Partners and Waterfall Asset Management. Houlihan Lokey served as financial adviser to Flex Fleet on the transaction.
Mason Wells sells Eddy Packing to Insight Equity :
Insight Equity has acquired Eddy Packing from Mason Wells. No financial terms were disclosed. Eddy Packing is a processor of smoked, cooked and fresh pork, beef and poultry products.
EnCap commits $300 mln to Pegasus :
EnCap Investments LP has committed $300 million to Pegasus Resources LLC. Based in Fort Worth, Texas, Pegasus is a mineral and royalty company.
Ardian to acquire Italian beverage solutions company Celli :
Ardian has agreed to acquire Celli, an Italian beverage solutions company. The seller is Consilium. No financial terms were disclosed.
BDT Capital to buy Commercial Credit from Lovell Minnick :
BDT Capital Partners has agreed to acquire Commercial Credit, a commercial finance company. No financial terms were disclosed. Commercial Credit is a portfolio company of Lovell Minnick Partners. The deal is expected to close in the first quarter of 2019.
Veritas and Elliott’s Evergreen completes take-private buyout of Athenahealth :
Veritas Capital and Elliott Management's Evergreen Coast Capital have closed its previously announced take-private acquisition of Athenahealth, a provider of medical record, revenue cycle, patient engagement, care coordination and population health services. The price of the deal was about $5.7 billion. Veritas portfolio company Virence Health will merge with Athenahealth and operate under the Athenahealth name. As a result of the closing, Athenahealth stock will be delisted from the NASDAQ and stop trading after the February 11, 2019 business day.
Alantra acquires Frías Nutrición :
Alantra Private Equity has acquired a majority stake in Frías Nutrición, a Spain-based producer of vegetable beverages, broths, creams and other health products. No financial terms were disclosed.
Investcorp takes controlling stake in Revature :
Investcorp has acquired a controlling stake in Reston, Virginia-based Revature, a technology talent development company. No financial terms were disclosed. Jefferies LLC served as financial adviser to Revature on the deal.
EQT buys Kodiak from The Stephens Group :
EQT has acquired Kodiak Gas Services from The Stephens Group. No financial terms were disclosed. Jefferies LLC served as financial adviser to Kodiak on the transaction while Kirkland & Ellis LLP provided legal counsel. And, Simpson Thacher & Bartlett LLP served as legal adviser to EQT. Based in Houston, Kodiak is a provider of compression equipment for the extraction of oil and transportation of gas in the U.S.
Franklin Templeton, Actera eyeing Abraaj’s Turkey funds, say sources: Reuters :
U.S. fund manager Franklin Templeton and Turkish private equity firm Actera are among the bidders in talks to take control of Abraaj’s Turkish assets after negotiations with other buyers faltered, sources told Reuters.
Impactive Capital to secure $250 mln from CalSTRS :
California State Teachers' Retirement System has agreed to invest $250 million in New York City-based Impactive Capital, a newly launched investment management firm. Lauren Taylor Wolfe and Christian Asmar are the co-founders.
Stellex invests in Cisco Equipment :
Stellex Capital Management LP has made an investment in Odessa, Texas-based Cisco Equipment, a provider of equipment, services, parts and supplies to the midstream infrastructure, general construction, agriculture and general industrial markets. No financial terms were disclosed for the transaction that was done in partnership with Christopher J. Sibert.
Carlyle hires BofA to sell Addison Lee: Financial News :
Carlyle Group is considering selling Addison Lee in a deal that could value the London taxi company at 800 million pounds ($1.03 billion), Financial News is reporting. Carlyle has retained Bank of America Merrill Lynch to run the process that will likely start later this year, the story said. Addison Lee has a fleet of roughly 5,000 cars in London and serves more than 10 million customers in that year alone, Financial News said.
Francisco Partners buys Qualcomm Life :
Francisco Partners said Feb. 11 that it acquired Qualcomm Life Inc from Qualcomm Inc. Financial term weren’t announced. Qualcomm Life will be renamed Capsule Technologies Inc and operate two business segments: Capsule, a medical device connectivity platform, and 2net, which provides wireless mobile device connectivity via cloud-based solutions.
Main Capital exits Roxit Groep :
Main Capital Partners said Feb. 11 that it sold its majority stake in Roxit Groep to Visma. Financial terms weren’t announced. Roxit is a Dutch governmental software company active in front-, mid- and back office applications.
KKR closes $510 mln Ramky Enviro Engineers buy :
KKR said Feb. 11 that it closed its buy of 60 percent of Ramky Enviro Engineers Ltd for about $510 million. Ramky Enviro, of Mumbai, provides environmental services and solutions in India and overseas.
Euronext offers $786 million for Oslo Bors as it tries to nix Nasdaq bid: Reuters :
strong>Euronext (ENX.PA) raised its bid for Oslo Bors OSLO.NFF on Monday to around 6.79 billion Norwegian crowns ($786 million), upping the stakes in a battle with Nasdaq (NDAQ.O) for the Norwegian stock exchange operator, Reuters reported.
Apollo nears $3 billion deal to buy Cox TV stations: Reuters :
Apollo Global Management LLC is nearing a roughly $3 billion agreement to acquire Cox Enterprises Inc’s 14 regional TV stations, the biggest in a series of deals the private equity firm is lining up to become a force in U.S. broadcasting, Reuters reported.
Ara Partners invests in Priority Power Management :
Ara Partners Group said Feb. 11 that it invested in Priority Power Management LLC. Financial terms weren’t announced. Priority Power, of Midland, Texas, is an energy management services and consulting firm.
Arconic to split into two after rebuffing Apollo offer: Reuters :
Arconic said on Friday it would split into two companies and slashed its quarterly dividend by two-thirds, just weeks after the U.S. aluminum products maker spurned a buyout offer from Apollo Global Management.
CCV acquires Burger King and Pizza Hut franchisee Redberry :
City Capital Ventures has acquired Toronto-based Redberry Group, a Burger King and Pizza Hut franchisee in Canada. No financial terms were disclosed. CIBC and Scotiabank provided senior debt for the transaction. McCarthy Tétrault LLP provided legal counsel to CCV with additional services provided by Perkins Coie LLP. Metronome Partners was financial adviser to Redberry Group.
Nielsen shortlists private equity bidders, say sources: Reuters :
A private equity consortium led by Blackstone Group LP and Hellman & Friedman LLC, as well as a grouping comprising Advent International and Goldman Sachs Group Inc’s buyout arm, are through to the second round of bidding for Nielsen Holdings Plc, sources told Reuters.
Investor group closes take-private acquisition of Dun & Bradstreet :
An investor group led by CC Capital, Cannae Holdings, Bilcar, Black Knight and Thomas H. Lee Partners has closed its previously announced take-private buyout of Dun & Bradstreet. The deal was reported to be $7.2 billion, according to a source familiar with the transaction. Financial advisers to the investor group included BofA Merrill Lynch, Citigroup and RBC Capital Markets while Kirkland & Ellis LLP provided legal advice. J.P. Morgan was financial adviser to Dun & Bradstreet with Cleary Gottlieb Steen & Hamilton LLP providing legal counsel. As a result of the transaction, Dun & Bradstreet stopped trading on the New York Stock Exchange prior to the opening of the NYSE today. Dun & Bradstreet is a provider of in commercial data, analytics and insights for businesses.
Brookfield in talks with India’s Reliance Industries to buy tower, fibre assets, says report. :
Canadian private equity firm Brookfield Asset Management is in preliminary talks with India’s Reliance Industries to buy a stake in its optical fibre and telecom tower assets, The Times of India newspaper reported on Friday.
ArcLight completes buyout of Sempra Energy’s non-utility U.S. natural gas storage facilities :
ArcLight Capital Partners has closed its previously announced acquisition of Sempra Energy‘s non-utility U.S. natural gas storage facilities. The transaction was for $328 million in cash. Wells Fargo Securities LLC provided financial advice to Sempra Energy on the transaction while Jones Day provided legal advice. Based in San Diego, Sempra Energy is an energy services holding company.
KKR to take minority stake in Söderberg & Partners :
KKR will acquire a minority stake in Söderberg & Partners, a provider of wealth management and corporate pension and insurance services in the Nordic region and the Netherlands. The sellers include TA Associates. No financial terms were disclosed. The deal is expected to close during the second quarter of 2019.
One Rock agrees to buy plastics distribution business of Nexeo Solutions :
One Rock Capital Partners agreed to buy the plastics distribution business of Nexeo Solutions Inc. The deal will follow Nexeo's pending acquisition by Univar Inc. The acquisition will create a standalone plastics distribution business.
Riverstone commits up to $500 mln to Three Rivers IV :
Riverstone Holdings LLC has invested up to $500 million to Three Rivers Natural Resource Holdings IV LLC. Based in Austin, Three Rivers IV is an oil and gas company focused on opportunities in the Permian Basin.
LLCP buys Club Champion :
Levine Leichtman Capital Partners has acquired Willowbrook, Illinois-based Club Champion, a provider of custom fitting services and golf equipment in the U.S. No financial terms were disclosed. Kirkland & Ellis LLP advised LLCP on the deal.
Periscope invests in Power Digital Marketing :
Periscope Equity LLC has made an investment in Power Digital Marketing, a tech-enabled digital marketing agency. No financial terms were disclosed.
L Catterton backs Hydrow :
Hydrow by CREW, a live outdoor reality rower, has secured an undisclosed amount of funding. L Catterton was the lead backer.
TSCP recaps BCM One :
Thompson Street Capital Partners has recapitalized New York-based BCM One, a managed technology solutions provider. No financial terms were disclosed.
H.I.G. buys Taconic Biosciences :
H.I.G. Capital has acquired Rensselaer, New York-based Taconic Biosciences Inc, a provider of genetically engineered models and service solutions used in life sciences research. No financial terms were disclosed.
Hull Street Energy buys two plants from NextEra Energy :
Hull Street Energy LLC said Feb. 6 that it agreed to buy ownership interests in the Bayswater and Jamaica Bay natural gas-fired electric generating stations from NextEra Energy Resources LLC. Financial terms weren’t announced. The two facilities are located in Far Rockaway, New York and provide approximately 110 megawatts of start power generation capacity to the region.
Thoma Bravo to buy Aucerna :
Thoma Bravo LLC said Feb. 7 that it agreed to buy Aucerna. Financial terms weren’t announced. Aucerna provides integrated planning, execution and reserves services for the energy industry.
KKR invests in OneStream Software :
KKR has agreed to invest in OneStream Software LLC. Financial terms weren’t announced. The investment values OneStream at over $1 billion. OneStream, of Rochester, Michigan, provides cloud or on-premise corporate performance management solutions for mid-sized to large enterprises.
Equity38 invests in TRX :
Equity38 LLC has made an investment in TRX, a provider of functional training solutions. No financial terms were disclosed.
Platinum Equity buys Orbit Irrigation and Hydro-Rain :
Platinum Equity has acquired Pro-Mark, the parent company of irrigation products providers Orbit Irrigation and Hydro-Rain. No financial terms were disclosed.
L Catterton invests in Grupo MYT :
L Catterton has made an investment in Grupo MYT, a designer and operator of restaurant brands in Mexico. No financial terms were disclosed.
BV recaps Intelliteach :
BV Investment Partners has recapitalized St. Louis-based Intelliteach, a provider of tech- enabled, business process outsourcing solutions for law and accounting firms. The seller was Dominus Capital LP. No financial terms were disclosed.
Carlyle to sell UK healthy snack brand Graze to Unilever :
The Carlyle Group has agreed to sell UK-based healthy snack brand Graze to Unilever. No financial terms were disclosed.
Boyne buys Adapt Laser :
Boyne Capital has acquired Kansas City, Missouri-based Adapt Laser Systems, a provider of laser cleaning solutions. No financial terms were disclosed.
Abry recaps physicians’ social platform Sermo :
Abry Partners has recapitalized Sermo, a social platform for physicians and healthcare professional survey company. No financial terms were disclosed. Marlin & Associates was financial adviser to Sermo on the deal while Ernst & Young and Chestnut Hill Partners did likewise for Abry.
Consonance Capital recaps Orsini :
Consonance Capital Partners has recapitalized Elk Grove Village, Illinois-based Orsini Pharmaceutical Services LLC, a national specialty pharmacy focused on patients with rare and complicated diseases. No financial terms were disclosed. Latham & Watkins LLP and Bass, Berry & Sims PLC advised Consonance Capital on the transaction while Barone Law Group P.C., Levenfeld Pearlstein LLC, and Brown & Fortunato, P.C. advised Orsini Pharmaceutical Services.
K1 Investment Management buys GoCanvas: Washington Business Journal :
K1 Investment Management has acquired GoCanvas, according to the Washington Business Journal. K1 acquired the maker of mobile-friendly web forms for businesses for $100 million, the story said.
Z Capital Partners buys Techniks Tool Group :
Z Capital Partners LLC said Feb. 6 that it acquired Techniks Tool Group. Financial terms weren’t announced. Techniks Tool, of Indianapolis, provides tool holding and workholding products used in CNC machine applications for industrial end markets.
Accel-KKR backs Travel Tripper, Pegasus merger :
Travel Tripper and Pegasus are merging in deal backed by Accel-KKR. Financial terms weren’t announced. Travel Tripper, of New York, and Pegasus of Scottsdale, Arizona, are hospitality technology providers. Regent, the Los Angeles PE firm, acquired Pegasus in 2014. Travel Tripper has raised angel funding from undisclosed investors, according to PitchBook.
TCV invests $200 mln in Relex Solutions :
TCV has made a $200 million minority investment in Relex Solutions. Relex, of Helsinki, provides unified retail planning solutions.
YPrime secures funding from Flexpoint :
Flexpoint Ford has made an investment in Malvern, Pennsylvania-based YPrime, a provider of cloud-based eClinical solutions. No financial terms were disclosed. YPrime's previous backer Ballast Point Ventures will retain a minority stake in the company and invest alongside Flexpoint in the transaction. Hill Ward Henderson provided legal advice to YPrime while Kirkland & Ellis and Duane Morris did likewise for Flexpoint.
VERTU and BDC to acquire Firmex from Novacap :
VERTU Capital has teamed up with BDC Capital to acquire Toronto-based Firmex, a provider of virtual data rooms and secure document sharing solutions. The seller is Novacap. The Bank of Montreal is providing the debt financing for the transaction that was done in partnership with Firmex executive management team. RBC Capital Markets provided financial advice to Firmex on the deal.
Abu Dhabi’s Mubadala sells 34.9 million shares in U.S. chipmaker AMD: Reuters :
Abu Dhabi’s Mubadala Investment Co has sold 34.9 million common equity shares in Advanced Micro Devices (AMD), a company spokesperson said on Tuesday, and plans to convert 75 million warrants in the U.S chipmaker.
Sun Capital buys Simply Beautiful Smiles :
Sun Capital Partners Inc has acquired Langhorne, Pennsylvania-based Simply Beautiful Smiles, a regional dental service organization. No financial terms were disclosed.
Bertram invests in Perennials and Sutherland :
Bertram Capital has made an investment in Dallas-based Perennials and Sutherland LLC, a maker of 100 percent solution-dyed acrylic performance fabric for indoor and outdoor use and luxury outdoor furniture. No financial terms were disclosed.
Blackstone Energy Partners launches Permian Basin midstream platform Waterfield :
Blackstone Energy Partners has formed Waterfield Midstream, which has secured a $500 million equity commitment. Waterfield is a provider of water management services to producers in the Permian Basin.
Vivendi considers partial Universal Music sale: Bloomberg :
Vivendi is mulling a partial sale of Universal Music Group, which could value the label at $25 billion, Bloomberg is reporting. Vivendi has met with financial advisers and held informal talks with potential buyers, including at least two private equity firms, the story said.
Wynnchurch buys Boss Industries :
Wynnchurch Capital LLC said Feb. 5 that it acquired Boss Industries LLC. Financial terms weren’t announced. Boss, of La Porte, Indiana, provides power take-off and engine driven rotary screw air technology that is used in compressors and vapor recovery systems.
L Catterton invests in Femme :
The Latin America fund of L Catterton has invested in Femme – Laboratório da Mulher. Financial terms weren’t announced. Femme, of São Paulo, offers women diagnostic gynecology, ultrasound, fetal medicine, breast imaging, genetics, pathology lab and blood tests.
Activa Capital invests in Explore :
Activa Capital said Feb. 5 that it has taken a majority position in Explore. Financial terms weren’t announced. Explore, of Paris, develops B2B business intelligence solutions for the real estate, construction and business services sectors.
Monroe Capital backs Warren Equity’s Magneto & Diesel buy :
Monroe Capital LLC said Feb. 5 that it provided financing to support Warren Equity Partners’s buy of Magneto & Diesel Injector Service Inc. Financial terms weren’t announced. Magneto & Diesel is a distributor of aftermarket parts and components for maintaining and repairing diesel-powered engines within Texas, Oklahoma, and Louisiana.
Advent International names Taylor as managing partner :
Advent International has appointed Bryan Taylor as a managing partner to lead its technology investment team. Prior to joining Advent, Taylor was co-head of TPG Capital's technology group.
Vector Capital completes Aspect Software buyout : Vector Capital
has closed its previously announced acquisition of Aspect Software Inc,
a provider of customer engagement, workforce optimization and self-service solutions. No financial terms were disclosed; however, as previously reported
by PE HUB, Vector agreed to invest more than $100 million in Aspect’s business. Jefferies LLC
and DCS Advisory
served as financial advisers to Aspect on the deal.
Silver Lake completes ServiceMax acquisition from GE Digital :
Silver Lake has closed its previously announced acquisition of ServiceMax from GE Digital. No financial terms were disclosed. JP Morgan served as financial adviser to GE Digital on the transaction with Hogan Lovells providing legal counsel. And, Morgan Stanley was financial adviser to Silver Lake while Skadden, Arps, Slate, Meagher & Flom LLP provided legal advice.
GTCR acquires Ultimus Fund Solutions and The Gemini Companies :
GTCR has acquired Ultimus Fund Solutions and The Gemini Companies, which both provide middle and back-office solutions that help fund managers and investors. No financial terms were disclosed. Broadhaven Capital Partners served as financial adviser to GTCR on the deal while Raymond James & Associates did likewise for Gemini. And, Latham & Watkins advised GTCR on the acquisitions.
South Africa’s Clover Industries shares soar on $359 million buyout offer: Reuters :
Shares of Clover Industries Ltd (CLRJ.J) jumped over 20 percent on Monday after it announced a 4.8 billion rand ($358.99 million) buyout offer from a consortium of companies, including Brimstone Investment Corporation Ltd (BRTJ.J) and the executive management of Clover, Reuters reported.
Insiginia Capital to acquire minority stake in marketing tech company MediaAlpha :
Insignia Capital Group has agreed to acquire a "significant" minority stake in MediaAlpha, a marketing technology company. The transaction puts MediaAlpha at a valuation of about $350 million. As a result of the transaction, White Mountains Insurance Group Ltd will retain an equity stake in MediaAlpha. Petsky Prunier Securities LLC provided financial advice to MediaAlpha on the deal.
Roark takes majority stake in health club chain Fitness Connection :
Roark Capital has acquired a majority stake in Fitness Connection, a health club chain, from LNK Partners. No financial terms were disclosed. Paul, Weiss, Rifkind, Wharton & Garrison LLP advised Roark while Jefferies LLC, Piper Jaffray & Co. and Kirkland & Ellis LLP advised Fitness Connection.
Stellex buys Paragon Metals :
Stellex Capital Management has acquired Hillsdale, Michigan-based Paragon Metals, a maker of precision machined components and assemblies. No financial terms were disclosed.
First Infrastructure Capital to buy WhiteWater :
First Infrastructure Capital Advisors LLC has agreed to acquire Austin, Texas-based WhiteWater, a midstream company. No financial terms were disclosed. The deal is expected to close in the first quarter of 2019. Whitewater is backed by Denham Capital Management and Ridgemont Equity Partners.
KKR exploring ‘full or partial’ sale of Hitachi Kokusai: Financial Times :
Private equity firm KKR & Co Inc (KKR.N) is exploring the “full or partial” sale of its Hitachi Kokusai chip equipment unit and has attracted the interest of two Chinese buyers, the Financial Times reported on Sunday, citing people familiar with the situation.
Hellman-led group to buy Ultimate Software for $11 bln :
An investor group led by Hellman & Friedman is buying Ultimate Software for $331.50 share cash or about $11 billion. In additional to Hellman, buyers include Blackstone, GIC, Canada Pension Plan Investment Board (CPPIB), as well as other investors including JMI Equity. Ultimate Software provides cloud-based human capital management and employee experience solutions, with more than 48 million people records in the cloud.
One Equity closes MediaKind buy :
Ericsson said Feb. 1 that it closed the divestment of MediaKind to One Equity Partners. The deal was previously announced. One Equity Partners is majority owner of MediaKind, while Ericsson has 49 percent of shares. MediaKind is an independent video technology company.
Weir Group close to selling unit for about $390 mln, says source: Reuters :
Engineering company Weir Group Plc is close to selling a unit, which supplies pumps and valves to power and oil and gas industries, for more than 300 million pounds ($390 million), a source told Reuters.
Carlyle takes majority stake in SERgroup :
The Carlyle Group has acquired a majority stake in SERgroup, a German enterprise content management solutions software company. No financial terms were disclosed.