Mill Point Capital acquires Affinion Group’s insurance unit :
Mill Point Capital has closed its previously announced acquisition of Stamford, Connecticut-based Affinion Group‘s insurance division, Affinion Insurance Solutions. No financial terms were disclosed.
Thoma Bravo acquires Centrify :
Thoma Bravo has acquired a majority stake in Centrify. The sellers include Mayfield, Accel Partners, Jackson Square Ventures and Index Ventures. No financial terms were disclosed. Kirkland & Ellis was legal adviser to Thoma Bravo on the transaction while Sidley Austin did likewise for Centrify with Barclays serving as its financial adviser. Based in Santa Clara, California, Centrify is a cybersecurity firm.
PSG to take majority stake in ExakTime :
Providence Strategic Growth has agreed to acquire a majority stake in Calabasas, California-based ExakTime, a provider of digital time and attendance solutions for construction and field services. No financial terms were disclosed.
Instaclustr grabs $15 mln from Level Equity :
Instaclustr, a provider of solutions for open source technologies, has raised $15 million in funding. The investor was Level Equity.
Riverside invests in SET Industrial Services :
Riverside Co said Aug 16 that it invested in SET Industrial Services Inc as an add-on to portfolio IFS Group. Financial terms weren’t announced. SET Industrial provides industrial cleaning and related on-site facility services, including vacuum truck services, tank cleaning and hydroblasting, across the Midwest. CIBC provided financing. Kostopoulos Rodriguez PLLC and Jones Day served as legal advisers for Riverside, True North Equity and IFS.
Vista Equity invests in iCIMS :
Vista Equity Partners is investing in iCIMS Inc. Financial terms weren’t announced. iCIMS, of Holmdel, New Jersey, provides recruitment technology. Susquehanna Growth Equity, the seller, will remain a shareholder. Goldman Sachs provided financial advice to iCIMS while Qatalyst advised Vista. Cooley LLP acted as legal adviser to iCIMS. Stuart E. Casillas and Natalie Logan of Kirkland & Ellis acted as legal adviser to Vista.
Investment firms explore buyout of Yum China: Reuters :
Investment firms are exploring a buyout of Yum China Holdings Inc. (YUMC.N) in what could be one of Asia’s biggest M&A deals this year, sources close to the situation told Reuters.
Bregal Sagemount backs merging Align General and Catalytic :
Insurance firms Align General Insurance Agency and Catalytic Risk Managers are merging and securing funding from Bregal Sagemount. No financial terms were disclosed.
Dominus invests in BluSky :
Dominus Capital has made an investment in Centennial, Colorado-based BluSky Restoration Contractors LLC, a provider of restoration, renovation, environmental and roofing services. No financial terms were disclosed.
KCM recaps Atlantic Beverage :
KCM Capital Partners LLC has recapitalized Edison, New Jersey-based Atlantic Beverage, a specialty importer and distributor of food and beverage products. No financial terms were disclosed for the transaction that was done in partnership with Huron Capital, Stonehenge Partners and Atlantic Beverage management. Katten Muchin Rosenman LLP provided legal counsel to KCM.
Brazil’s Patria Investimentos considers bid for Cesp, says source: Reuters :
Brazilian asset management firm Pátria Investimentos is considering a bid for power generation company Companhia Energética de São Paulo (CESP6.SA), known as Cesp, a source told Reuters.
RSV acquires Eyenalyze :
Rising Sun Ventures has acquired a majority stake in Arkansas-based Eyenalyze, a software firm focused on data analytics for restaurant owners and franchises. No financial terms were disclosed.
Canson Capital raises $100 mln to invest alongside Blackstone: Financial Times :
Canson Capital Partners, the boutique firm that advised Blackstone in its Thomson Reuters deal, has raised $100 million to co-invest alongside the PE group, the Financial Times said. Canson raised the fund, which was 30 percent oversubscribed, in less than four months, the story said.
Blackstone may buy stake in India’s Jet Airways loyalty arm: Bloomberg :
U.S. private equity firm Blackstone Group LP
) is in talks to acquire a stake in the frequent-flier loyalty program of Jet Airways (India) Ltd
reported on Wednesday, citing people familiar with the matter.
Eagle Merchant and JLM Financial fund Recreational Group :
Eagle Merchant Partners and JLM Financial Partners have made an investment in Recreational Group, a provider of residential and commercial recreational surfacing products. No financial terms were disclosed.
Blue Point recaps Next Level Apparel :
Blue Point Capital Partners has recapitalized Gardena, California-based Next Level Apparel, a maker of casual apparel for the promotional product, ad specialty and other decorated apparel markets. No financial terms were disclosed.
AlpInvest provides $260 mln to Stagwell Group :
Stagwell Group has raised $260 million in funding from AlpInvest Partners. Mercury Capital Advisors provided financial advice to Stagwell Group on the transaction. Stagwell Group is an investment firm formed by ex-Bill Clinton adviser Mark Penn.
VTG calls on suitor Morgan Stanley Infrastructure to hike bid: Reuters :
Rail logistics group VTG (VT9G.DE) said on Tuesday that Morgan Stanley Infrastructure should sweeten its takeover offer but added the suitor had not shown any willingness to do so.
Pattern Energy and PSP Investments buy Canadian power facility :
Pattern Energy Group Inc and the PSP Investments have acquired the Canada-based Mont Sainte-Marguerite Wind power facility. According to terms of the deal, Pattern Energy acquired a 51 percent stake in Mont Sainte-Marguerite for about $40 million, while PSP Investments acquired the remaining 49 percent stake. Pattern Energy will operate the facility.
Alpine invests in VHT :
Alpine Investors has made an undisclosed investment in Akron, Ohio-based VHT, a provider of customer experience solutions. No financial terms were disclosed. In addition to the funding, VHT has appointed Matt DiMaria as CEO.
KKR to sell 64 mln First Data shares :
KKR plans to sell 64 million shares of First Data Corp in a secondary offering. Underwriters on the deal have the option to buy another 9.6 million shares. First Data said it would receive none of the proceeds from the sale. KKR acquired First Data in 2007 in a deal valued at $29 billion. First Data, a payments company, went public in 2015.
Monroe Capital backs S&S Healthcare recap :
Monroe Capital said Aug. 14 that it provided financing for the recap of S&S HealthCare Strategies Ltd by Level Capital Partners. S&S, of Cincinnati, is a third party healthcare administrator.
Bain Capital to take UK insurer esure private in $1.55 billion deal: Reuters :
Private equity firm Bain Capital has agreed to buy esure (ESUR.L) for 1.21 billion pounds ($1.55 billion), in a deal that gives investors in the British insurer a 37 percent premium on the share price at the end of last week, Reuters reported.
Musk says Silver Lake, Goldman advising on taking Tesla private: Reuters : Tesla Inc
) Chief Executive Elon Musk
tweeted on Monday that he was working with buyout firm Silver Lake
and investment bank Goldman Sachs Group Inc
) as financial advisers on his plan to take the U.S. electric car maker private, Reuters reported.
H.I.G. Capital buys HR consulting firm Buck :
H.I.G. Capital has acquired New York-based Buck, an HR consulting, benefits, administration and technology services firm. No financial terms were disclosed.
Bridges takes majority stake in Medwood :
Bridges Fund Management has acquired Medwood, a provider of administrative and management support services to a network of primary care and family medicine physician practices located in New York City. No financial terms were disclosed.
Apex and Genstar buy hedge fund administrator Custom House :
Apex and Genstar Capital have acquired Custom House, a hedge fund administrator. No financial terms were disclosed. The deal is expected to close at the end of the fourth quarter.
Silver Lake sells Quorum Software to Thoma Bravo :
Thoma Bravo has acquired Quorum Software from Silver Lake. No financial terms were disclosed. Quorum Software is a provider of finance, operations and accounting software.
Graham Partners backs Nuconic Packaging :
Graham Partners has made an undisclosed investment in Vernon, California-based Nuconic Packaging LLC, a provider of rigid PET plastic packaging solutions to commercial and industrial food processors. Mesirow Financial advised Nuconic on the transaction. Nuconic is a portfolio company of Carlin Capital Partners.
Australia’s Capilano Honey gets $138 million bid from consortium: Reuters :
(Reuters) - Australia’s Capilano Honey Ltd (CZZ.AX) said on Monday a consortium of China-focused Wattle Hill RHC Fund and Roc Partners agreed to buy the company for A$189.8 million ($138 million).
UK’s esure soars on possible $1.5 billion offer from Bain Capital: Reuters :
Britain’s esure (ESUR.L) is in advanced talks over a possible 1.17 billion pound ($1.49 billion) bid from Bain Capital Private Equity, the insurance company said on Monday, sending its shares more than 30 percent higher, Reuters reported.
North Square Investments debuts :
North Square Investments, a new Chicago-based investment firm, has launched. Also, North Square has acquired a minority stake in Oak Ridge Investments. No financial terms were disclosed. North Square plans on buying $700 million of mutual fund assets. Mark Goodwin is serving as CEO of North Square.
H.I.G. invests in Sage Hospice :
H.I.G. Growth Partners has made an investment in Phoenix-based Sage Hospice, a provider of hospice and palliative care services. No financial terms were disclosed.
THL-backed Federal Street to merge with Universal Hospital Services :
Federal Street Acquisition Corp, a SPAC from Thomas H. Lee Partners LP, is merging with Universal Hospital Services Inc, a portfolio company of Irving Place Capital Management LP. The deal is valued at $1.74 billion. Universal Hospital provides healthcare technology management and service solutions. Irving Place will retain a minority equity stake in the combined company.
ACON to buy Goody Products :
ACON Investments LLC said Aug. 13 that it agreed to buy Goody Products Inc. Financial terms weren’t announced. Newell Brands is the seller. Goody makes hair styling tools and accessories. Hogan Lovells LLP served as ACON's legal adviser.
Donerail Group in talks for Tronc: Chicago Tribune :
Donerail Group, a new investment firm from Will Wyatt, is in advanced negotiations to buy Tronc, the Chicago Tribune reported Aug. 9. The deal, if struck, would mark the second change in control in less than three years for the company that owns the Chicago Tribune and other newspapers, the story said. Wyatt left hedge fund Starboard Value LP in June after three years, the Chicago Tribune said.
Australia: Land of opportunity for U.S. PE :
By Matthew Nelson, Norton Rose Fulbright One of U.S. private equity’s biggest challenges is how to deploy the record dry powder it has raised in recent years. Compounding the issue is intense competition for deals in North America, Europe and Asia. Against this backdrop, Australia presents a unique opportunity. While U.S. PE firms have been […]
ADM Capital exits Central Eastern European, Kazakhstan PE business :
ADM Capital said it has exited its Central Eastern European and Kazakhstan private equity business through a management buyout. Financial terms weren’t announced. ADM Capital said the sale will allow it to focus on its Asian fixed income business and Cibus Fund platform, as well as expanding its ADM Capital Foundation.
KKR to buy control of REEL for $530 million, one of India’s biggest buyouts: Reuters :
Private equity firm KKR & Co
) said it will acquire a 60 percent stake in India’s Ramky Enviro Engineers Ltd
(REEL) for $530 million, adding it was one of India’s largest buyouts, Reuters reported.
Peak Rock Capital agrees to buy pizza crust business from Tyson Foods :
Peak Rock Capital agreed to buy TNT Crust business, which makes pizza crusts, from Tyson Foods. The transaction is expected to close in September 2018. The deal is Peak Rock's seventh recent food and beverage investment, including Sweet Harvest Foods, a producer of honey; Berner Food & Beverage, which makes dairy-based snacks and beverages; and Diamond Crystal Brands, which makes portion control and single-serve food and beverage products.
Gryphon Investors completes sale of Washing Systems :
Gryphon Investors completed the sale of Washing Systems to Kao Corp, which provides cleaning solutions and hygiene management. Financial terms weren't disclosed. Gryphon initially invested in Washing Systems in Dec. 2015.
Auxo Buys Midway Rotary Die Solutions :
Auxo Investment Partners has acquired Midway Rotary Solutions, a provider of dies for customers in the automotive, packaging, medical, food processing, tag-and-label, specialty and photo-cutting industries. No financial terms were disclosed.
LGP to buy window treatments provider The Shade Store :
Leonard Green & Partners has agreed to acquire The Shade Store from Great Hill Partners. No financial terms were disclosed. The Shade Store is a maker of custom window treatments.
Olympus Partners acquires Rise Baking :
Arbor Investments has sold Rise Baking to Olympus Partners. No financial terms were disclosed. Minneapolis-based Rise Baking is a maker of cookies, dessert bars, artisan breads and flatbreads. Harris Williams and Evercore provided financial advice to Arbor on the transaction while Winston & Strawn and Stikeman Elliott was legal counsel.
Carrick Capital takes majority stake in Discovery Health :
Carrick Capital has acquired a majority stake in Discovery Health Partners, a provider of insights and technology-powered solutions to help healthcare payers. No financial terms were disclosed. In August 2015, Carrick made an initial investment of $22.5 million in Discovery Health.
TPG Growth and The Rise Fund close ClEAResult buyout :
TPG Growth and The Rise Fund have closed its previously announced acquisition of Austin, Texas-based CLEAResult, a provider of energy efficiency solutions for utility companies. The seller was General Atlantic. No financial terms were disclosed.
SGE invests $50 mln in HR tech platform PerkSpot :
Chicago-based PerkSpot, an HR technology platform, has secured $50 million in funding. The investor was Susquehanna Growth Equity.
NCP invests in Discovery Data :
Northlane Capital Partners has made an undisclosed investment in Discovery Data. Based in Eatontown, New Jersey and Englewood, Colorado, Discovery Data is a provider of SaaS solutions to asset managers, wealth advisers, insurance companies, financial technology and service providers.
Blackstone to invest in TaskUs :
Blackstone has agreed to invest in TaskUs. Financial terms weren’t announced although press reports said Blackstone invested $250 million. TaskUs, of Santa Monica, California, is a customer service and business process outsourcing services provider for high-growth technology companies. The deal, before Blackstone’s investment, values TaskUs at more than $500 million.
Investor group to take Dun & Bradstreet private :
An investor group led by CC Capital, Cannae Holdings and Thomas H. Lee Partners is taking Dun & Bradstreet private. The total value is $6.9 billion or $5.4 billion not including net debt and net pension obligations. Dun & Bradstreet shareholders will receive $145.00 in cash for each share of common stock they own. BofA Merrill Lynch, Citigroup Inc, and RBC Capital Markets are providing financing.
Blackstone completes PSAV buyout :
Blackstone has closed its previously announced acquisition of Schiller Park, Illinois-based PSAV, an events company. The sellers were Goldman Sachs and Olympus Partners. No financial terms were disclosed. As part of the deal, Goldman Sachs will be reinvesting alongside Blackstone in PSAV.
Providence backs KPA :
Providence Equity Partners has made an investment in KPA, a provider of environmental health and safety risk management solutions. No financial terms were disclosed. As a result of the transaction, KPA's previous backer CIVC Partners will retain a minority stake.
Lincoln Road invests in Pro-Tec Fire & Safety :
Lincoln Road Global Management LLC has made an investment in Atlanta-based Pro-Tec Fire & Safety, a provider of fire extinguisher and safety services. No financial terms were disclosed. Holland & Knight LLP provided legal advice to Lincoln Road on the transaction.
Stonegate Digital Capital Group grabs funding :
Stonegate Digital Capital Group, a private equity firm that invests in blockchain technology and digital assets, has secured an "eight-figure" investment. The backer was an unnamed European family office.
Golden Gate buys majority of Aperio Group :
Golden Gate Capital has acquired a majority equity interest of Aperio Group. Financial terms weren’t announced. Aperio Founders Patrick Geddes and Paul Solli will retain a significant ownership stake. Aperio, of Sausalito, California, is research-based investment management firm. UBS advised Aperio.
KKR Real Estate Finance Trust to sell 5M shares :
KKR Real Estate Finance Trust Inc said Aug. 8 that it is selling 5 million shares in a secondary sale. KREF is expected to receive about $100 million in gross proceeds. Citigroup, J.P. Morgan and Wells Fargo Securities are underwriters for the offering.
Junction Energy, Ara Partners invest in Puraglobe :
Junction Energy Capital and Ara Partners Group said Aug. 8 that they jointly invested in Puralube Inc, known as Puraglobe. Financial terms weren’t announced. Allied Resource Corp, the founding Paralube shareholder, will maintain a stake. Puraglobe, of Wayne, Pennsylvania, produces base oils, using recycled oil as feedstock. Riverside Management Group LLC and Triple A Partners LLC advised Puraglobe.
Tower Arch recaps Panoramic Doors :
Tower Arch Capital said Aug. 8 that it completed a recap of Panoramic Doors LLC. Financial terms of the investment were not disclosed. Panoramic Doors, of Oceanside, California, designs, makes and distributes panel folding patio door systems. Tower Arch was advised by Choate Hall & Steward LLP.
ORIX Corp to buy 30 pct of Avolon for $2.2 Bln :
ORIX Corp said Aug. 8 that it agreed to buy a 30 percent stake in Avolon for $2.2 billion. Bohai Capital, whose investors include HNA Group, is the seller. Avolon, of Dublin, Ireland, provides aircraft leasing and lease management services. Morgan Stanley & Co LLC provided financial advice to Avolon while Douglas Warner, James Harvey, Oliver Walker and Andrew Yoon of Weil, Gotshal & Manges LLP were legal advisers to Avolon.
Vista to buy Alegeus from Lightyear :
Vista Equity Partners has agreed to acquire Waltham, Massachusetts-based Alegeus, a consumer-directed healthcare payment and processing firm, from Lightyear Capital. No financial terms were disclosed. BofA Merrill Lynch and TripleTree served as financial advisers in the transaction.
OIG buys footwear maker USA Dawgs :
Optimal Investment Group has acquired Las Vegas-based USA Dawgs Inc, a branded footwear distributor. No financial terms were disclosed.
Beringea leads $5.5 mln round for Popular Pays :
Chicago-based Popular Pays, an operating system for content creation, has raised $5.5 million in funding. Beringea led the round.
Tower Arch recaps Kiinde :
Tower Arch Capital has recapitalized White Plains, New York-based Kiinde, a developer of infant and child feeding solutions. No financial terms were disclosed for the transaction that was in partnership with Pear Orchard Partners and Kiinde's management team. Choate Hall & Stewart LLP advised Tower Arch on the recap.
Wynnchurch to buy Logistik :
Wynnchurch Capital has agreed to acquire Montreal-based Logistik Unicorp Inc, a provider of managed clothing services and uniform solutions. No financial terms were disclosed for the transaction that is being done in partnership with Louis Bibeau, the founder and CEO of Logistik.
Peak Rock exits Precision Global :
ONCAP said Aug. 7 that it acquired Precision Global. Peak Rock Capital, which acquired Precision Global in 2015, was the seller. ONCAP said it invested about $111 million in the deal. Precision Global, of Greenville, South Carolina, makes dispensing solutions, such as aerosol valves, actuators and pumps.
SoftBank’s Vision fund to lead $3 bln plus round in Ele.me: Bloomberg :
SoftBank’s Vision Fund is expected to lead a $3 billion to $5 billion investment in Ele.me, Bloomberg is reporting. Alibaba Group Holding, which owns the food delivery giant, plans to merge Ele.me with in-house arm Koube, the story said.
GI Partners completes acquisition and merger of California Cryobank and Cord Blood Registry :
GI Partners has closed its previously announced acquisition and merger of California Cryobank, a donor sperm and egg bank, and Cord Blood Registry, a stem cell collection and storage company. No financial terms were disclosed. The combined company will operate under the California Cryobank Life Sciences name. Harris Williams served as financial adviser to GI Partners on the deal while Paul Hastings provided legal advice.
Webster Capital acquires JBR :
Webster Capital has acquired Salt Lake City-based JBR Clinical Research, a clinical research site manager conducting post-op pain studies on behalf of pharmaceutical companies. No financial terms were disclosed.
Strand Equity takes minority stake in Van Leeuwen :
Strand Equity has acquired a minority stake in Van Leeuwen Ice Cream, a provider of made-from-scratch ice cream and vegan ice cream. No financial terms were disclosed.
AnaCap buys Slovenia’s NKBM first lien corporate debt/loan portfolio: Reuters :
Specialist European financial services private equity firm AnaCap Financial Partners on Monday acquired the first lien corporate debt and loan portfolio from Slovenia’s second biggest bank Nova KBM (NKBM). Reuters reported.
YFM backs Collaborative Project Management Services :
YFM Equity Partners has invested 4.5 million pounds in Collaborative Project Management Services. UK-based CPMS is a provider of full project solutions to traditional project consultancy for the rail sector.
Silver Lake invests in GoodRx :
Silver Lake has made an investment in GoodRx, a provider of prescription and healthcare savings. No financial terms were disclosed. J.P. Morgan Securities LLC and TripleTree LLC served as financial advisers to GoodRx while Kirkland & Ellis LLP and M&H LLP provided legal counsel. And, Ropes & Gray LLP and Epstein Becker & Green P.C. provided legal counsel to Silver Lake.
Protagonist Therapeutics to rake sin $22 mln :
Newark, California-based Protagonist Therapeutics, a biopharmaceutical company, has agreed to sell 2.75 million shares for $22 million. The investors included BVF Partners LP. The deal is expected to close on August 8, 2018.
Offices group IWG ends takeover discussions with remaining suitors: Reuters :
) has abandoned takeover talks with its three remaining suitors in a move that ends months of uncertainty about the future of the London-listed provider of serviced offices but sent its shares tumbling, Reuters reported.
Vista considers selling Tibco Software: Bloomberg :
Vista Equity Partners is considering selling Tibco Software Inc, Bloomberg is reporting. Vista has held early stage talks with potential suitors, the story said.
Duet Private Equity acquired majority of AJEAST Nigeria :
Duet Private Equity Ltd said Aug 1 that it acquired a majority stake in AJEAST Nigeria Ltd. Duet PE said its investment was more than $50 million. AJEAST is the Sub-Saharan Africa subsidiary of AJE Group, a multinational beverage company.
C.H. Guenther buys Cookietree :
C.H. Guenther & Son, a portfolio company of PPC Partners, has acquired Cookietree Bakeries. Financial terms weren’t announced. Cookietree, of Salt Lake City, provides thaw-and-serve cookies, bake-and-serve cookie dough, brownies and scones to quick-service restaurants, fast-casual restaurants, club stores and retailers. Cody Peak Advisors advised Cookietree.
Guardian Capital backs Direct Line :
Guardian Capital has made an investment in Fremont, California-based Direct Line, a provider of network cabling, infrastructure and staffing services to data centers and other mission critical environments. No financial terms were disclosed.
Paine Schwartz Partners divests stake in Meadow Foods to Exponent :
Exponent has acquired Paine Schwartz Partners' stake in UK-based Meadow Foods, a provider of ingredients and milk for the food industry. No financial terms were disclosed. Houlihan Lokey, RPC and KPMG advised Meadow Foods on the deal.
Aterian acquires Pioneer Metal Finishing :
Aterian Investment Partners has acquired Green Bay, Wisconsin-based Pioneer Metal Finishing LLC, a provider of outsourced anodizing, plating, hardcoat, adhesive, electroless nickel and other value-added surface treating services. No financial terms were disclosed.
Ardian to pay 850 million euros in infrastructure deal with Italy’s Gavio: Reuters :
Investment fund Ardian has agreed to pay 850 million euros ($985 million) to create a strategic partnership with Italy’s Gavio group to support the growth of motorway infrastructure companies ASTM-SIAS, Reuters reported.
Source Capital invests in Texan Allergy :
Source Capital has made an investment in Texan Allergy, a provider of management support services to affiliated allergy practices. No financial terms were disclosed.
Legend, Pamplona Capital consider offers for Grupo Iberconsa: Bloomberg :
Legend Holdings Corp and Pamplona Capital Management are weighing making offers for Grupo Iberconsa, the Spanish frozen-seafood seller backed by Portobello Capital, Bloomberg reported. Iberconsa could be valued at about 600 million euros ($698 million), the story said.
China’s Didi, Ant Financial weigh joint $2 billion Ofo buyout: Reuters :
Chinese ride-hailing giant Didi Chuxing
) Ant Financial
are in talks with bike-sharing startup Ofo
for a joint buyout offer that could value Ofo at up to $2 billion, Reuters reported.
ArcLight buys Midcoast Operating LP for about $1.1 bln :
ArcLight Capital Partners has acquired Midcoast Operating LP from Enbridge Inc for about $1.1 billion in cash. Houston-based Midcoast is an owner of midstream assets.
TPG, KKR leading contenders to manage Abraaj’s healthcare fund, say sources: Reuters :
Buyout firms TPG (TPG.L) and KKR & Co (KKR.N) have emerged as leading contenders to run Dubai-based private equity firm Abraaj’s troubled $1 billion healthcare fund, sources told Reuters.
CVC abandons talks with Ingenico over potential buyout, say sources: Reuters :
Private equity group CVC [CVC.UL] has abandoned talks with Ingenico (INGC.PA) over a potential buyout of the French payments group, amid a frenzy of deals in the sector, sources told Reuters.
Genstar completes DrillingInfo buyout :
Genstar Capital has closed its previously announced acquisition of Austin-based Drillinginfo, a software, data and analytics platform for the energy value chain. No financial terms were disclosed. Insight Venture Partners will retain a “significant” minority stake in Drillinginfo.
Genstar buys BBB Industries :
Genstar Capital said Aug. 2 that it acquired BBB Industries LLC. Financial terms weren’t announced. BBB, of Daphne, Alabama, is an automotive aftermarket supplier. UBS Investment Bank and Latham & Watkins LLP advised Genstar.
Bidder looks to challenge KKR’s control of Gibson Brands: Bloomberg :
At least one bidder is challenging KKR’s efforts to take control of Gibson Brands Inc, Bloomberg is reporting. An unidentified buyer complained that KKR and allied noteholders wield too much influence over Gibson’s reorganization process, the story said. KKR has warned rivals that they off at least $375 million of Gibson’s debt first, Bloomberg said.
Cinven to buy AXA Life Europe for 1.2 bln euros :
AXA said Aug 1 that it received an “irrevocable offer” from Cinven to buy AXA Life Europe. AXA said the sale could generate 1.165 billion euros ($1.4 billion), including a 240 million euro capital distribution. Axa Life Europe, of Dublin, designs, makes and distributes AXA’s Variable Annuity products across Europe.
Hidden Harbor buys Masterwork :
Hidden Harbor Capital Partners has acquired California-based Masterwork Electronics, a maker of printed circuit board assemblies. No financial terms were disclosed. B. Riley FBR advised Masterwork on the deal.
Canada’s Fairfax set to take 19 percent stake in Irish insurer FBD: Reuters :
Canadian investment group Fairfax (FFH.TO) could become Irish insurer FBD’s (FBD.I) second largest shareholder by September by converting a bond into equity, FBD Chief Executive Fiona Muldoon said on Wednesday.
Axa in talks with Cinven over sale of platform in 1.2 billion, says euro deal: Reuters :
French insurer Axa (AXAF.PA) said on Wednesday it had entered exclusive talks over the potential sale of its variable annuity products platform to private equity firm Cinven, adding it would raise 1.2 billion euros ($1.40 billion) in total from the deal.
Trilantic North America takes majority stake in Planet Fitness franchisee Taymax :
Trilantic North America has acquired a majority stake in Taymax, a Planet Fitness franchisee. No financial terms were disclosed. Harris Williams was financial adviser to Taymax on the transaction.
Apollo and Freestone form partnership :
Apollo Global Management LLC and Freestone Midstream Holdings LLC have partnered up to invest in water assets serving the oil and gas industry. Apollo has committed $200 million to back the plan. The partnership will focus initially on the Powder River Basin in Wyoming.
Blue Sage and Hanover invest in Ligchine :
Blue Sage Capital and Hanover Partners have made an investment in Wisconsin-based Ligchine International Corporation, a maker of laser-guided boom operated concrete screeds. No financial terms were disclosed.
Pfingsten Partners buys Quality Valve :
Pfingsten Partners LLC said July 31 that it acquired Quality Valve Inc. Financial terms weren’t announced. Quality Valve, of Mobile, Alabama, provides safety and relief valve parts serving certified valve repair companies.
Compelling PE Roadshows: The Investor Perspective :
By Allen Latta, Campton Private Equity Advisors Thousands of private equity funds are being raised right now. For a fund in the market, that’s a massive amount of competition. Limited partners (or LPs), the investors in private equity funds, are constantly meeting with general partners (GPs), the fund managers, to select the very best funds […]
Vista Equity wins fight against hedge funds seeking higher deal price: Reuters :
Buyout firm Vista Equity Partners Management LLC won a court battle this week against investors seeking a higher price on its $6.5 billion leveraged buyout of U.S. software company Solera Holdings, in a blow to hedge funds that deploy this strategy, Reuters reported.