Five Point sells minority stake in WaterBridge to GIC :
Five Point Energy has sold a minority stake in WaterBridge Resources LLC to GIC. The price of the transaction puts WaterBridge's enterprise valuation at about $2.8 billion. Barclays served as financial adviser to Five Point Energy and WaterBridge on the transaction. Houston-based WaterBridge is a developer, owner and operator of water infrastructure networks.
CIVC launches Specialized Elevator Services Holdings :
CIVC Partners has formed Specialized Elevator Services Holdings, a provider of elevator maintenance, repair, and modernization services in California. The company was formed via CIVC's recapitalization of San Francisco Elevator, Ascent Elevator and Specialized Elevator. No financial terms were disclosed. Lift Business Advisors served as financial adviser to San Francisco Elevator, Ascent Elevator and Specialized Elevator on the deal.
LDC buys marketing agency MSQ Partners :
LDC has acquired MSQ Partners, a marketing agency. No financial terms were disclosed. GP Bullhound was the financial adviser to MSQ on the deal.
Global private equity firms to bid for Hitachi’s chemical unit, say sources: Reuters :
Global private equity firms Bain Capital, Carlyle Group and KKR & Co are among potential bidders for Japanese conglomerate Hitachi Ltd’s chemical unit, sources told Reuters.
SEP provides $56 mln to Criteria Corp :
Sumeru Equity Partners has invested $56 million in Criteria Corp, a SaaS- based employment analytics platform. In addition to the funding, SEP Managing Directors Jason Babcoke and John Brennan and Vice President Kevin Cheng will join Criteria's board of directors.
H.I.G. to invest in Riveron :
H.I.G. Capital has agreed to make an investment in Riveron, a business adviser. No financial terms were disclosed. The deal is expected to close by the end of May.
Blackstone makes minority investment in Marlin Equity :
Blackstone Group made a minority investment in Marlin Equity Partners. The investment, which came from Blackstone's Strategic Capital Group, will allow Marlin to expand its global investment platform and leverage the resources and capabilities of Blackstone.
Shore Capital launches platform to invest in ENT, allergy practices across the southeast :
Shore Capital Partners formed Southern Ear, Nose, Throat and Allergy Partners and completed a strategic partnership with Northwest ENT and Allergy Center. SENTA and Northwest ENT will seek affiliations with independent ear, nose and throat and stand alone allergy practices across the Southeast to build a network of doctors that focus on clinical care. SENTA is the eighth platform investment from Shore Capital's second fund, which closed on $190 million in 2017.
Osram says still in talks with Bain and Carlyle, shares spike: Reuters :
German lighting group Osram said on Thursday that talks with Bain and Carlyle were continuing, after a report said the private equity groups could bid 35 euros per share for the company.
Spruce Finance snags $50 mln from HPS :
Spruce Finance, an owner and operator of distributed generation solar and residential energy assets in the U.S., has raised $50 million in funding. The investor was HPS Investment Partners.
Monarch Alternative Capital buys Shopko Optical :
Monarch Alternative Capital LP has acquired Shopko Optical, an eyewear provider. No financial terms were disclosed.
LNC Partners invests in Terra Dotta :
Chapel Hill, North Carolina-based LNC Partners has made an investment in Terra Dotta, a provider of higher education travel risk management, study abroad and international programs management solutions. No financial terms were disclosed.
KPS to buy Colfax’s Howden for $1.8 bln :
KPS Capital Partners said May 16 that it agreed to buy Howden from Colfax Corp for $1.8 billion. The deal includes $1.66 billion in cash and $0.14 billion in assumed liabilities and minority interest. Howden, of Glasgow, Scotland, provides mission critical air and gas handling products and services to the industrial, power, oil & gas, and mining industries.
Oak Hill Capital sells AccentCare to Advent :
Advent International said May 16 that it agreed to buy AccentCare Inc. Financial terms weren’t announced. Oak Hill Capital Partners is the seller. AccentCare, of Dallas, offers a range of services including personal, non-medical care to skilled nursing, rehabilitation, hospice care and care management across 16 states.
TodayTix raises $73 mln :
TodayTix said May 16 it raised $73 million in funding led by Great Hill Partners. TodayTix, of New York, is an online platform that sells best-priced tickets to shows, arts and cultural entertainment in cities including New York City, London’s West End, Toronto, the San Francisco Bay Area.
SymphonyAI Group buys Azima Global :
SymphonyAI Group said May 15 that it acquired Azima Global. Financial terms weren’t announced. Azima provides machine condition monitoring and asset reliability solutions across several industrial verticals.
Nestle revamp advances with $10 billion sale of skin health unit to buyout funds: Reuters :
Nestle has entered exclusive talks to sell its skin health business to a consortium led by EQT Partners for 10.2 billion Swiss francs ($10.12 billion), as the food group shifts its portfolio in response to changing consumer demands, Reuters reported.
Bernhard Capital-led investor group takes stake in The Lemoine Company :
Bernhard Capital-led investor group has acquired a stake in Louisiana-based The Lemoine Company, a construction management firm. No financial terms were disclosed.
Firmament invests in Fortbrand :
The Firmament Group has made an investment in Fortbrand Services, which sells, leases and rents aircraft ground support equipment and airfield maintenance equipment to commercial airlines, ground handling companies and airports in North America. No financial terms were disclosed.
Investor group completes acquisition of Momentive :
An investor group comprised of SJL Partners LLC, KCC and Wonik has closed its previously announced acquisition of Momentive, a global silicones and advanced materials company. No financial terms were disclosed. According to the terms of the deal, Momentive stockholders received $32.50 in cash for each issued and outstanding share of common stock they owned.
Navigant and InfraRed Capital launches Compass Energy Platform :
Navigant and InfraRed Capital Partners have launched Compass Energy Platform, a platform that will help cities and utilities develop and finance local energy infrastructure solutions. No financial terms were disclosed.
WestView backs Health Monitor Network :
WestView Capital Partners has led a funding round for Health Monitor Network, a patient engagement company. No financial terms were disclosed. BBVA Compass, Stellus Capital Management and Evolution Credit Partners provided the debt financing for the transaction.
MDP acquires InMoment :
Madison Dearborn Partners has acquired InMoment, a provider of customer experience management solutions. No financial terms were disclosed. Union Square Advisors was financial adviser to InMoment on the transaction while Stifel Nicolaus did likewise for MDP.
OpenGate buys Saint-Gobain’s silicon carbide unit :
OpenGate Capital said May 15 that it acquired the silicon carbide division of Saint-Gobain SA. Financial terms weren’t announced. The business will be renamed Fiven A/S. Fiven provides Silicon Carbide grains and powder that are used in applications including metallurgy, refractory materials, filtration products and technical ceramics.
CenterOak Partners invests in Service Champions :
CenterOak Partners LLC said May 15 that it completed a majority investment in Service Champions. Financial terms weren’t announced. CEO Leland Smith is retaining a stake. Service Champions, which is merging with CenterOak portfolio company Moore Home Services, provides residential service and replacement services including air conditioning repair and replacement, plumbing, solar and electrical services.
Kroger, Lindsay Goldberg launch PearlRock Partners :
The Kroger Co and Lindsay Goldberg said May 14 that they have formed a platform, PearlRock Partners, that will invest in consumer product brands. The platform will be a part of Kroger’s alternative profit streams portfolio.
Artesyn Embedded Tech to sell embedded power unit to Advanced Energy :
Artesyn Embedded Technologies Inc, a Platinum Equity portfolio company, has agreed to sell its embedded power business to Advanced Energy Industries Inc for about $400 million. Artesyn’s embedded power business supplies and makes power conversion products, including AC-DC power supplies, DC input devices and board mounted DC-DC modules.
Milacron to sell Uniloy Blow Molding biz to Osgood Capital and Cyprium :
Osgood Capital and Cyprium Investment Partners have agreed to acquire Milacron's Uniloy Blow Molding business. No financial terms were disclosed. The deal is expected to close within the next 90 days.
Kian Capital acquires Eastwood :
Kian Capital Partners has acquired The Eastwood Company, an ecommerce provider of aftermarket automotive tools and equipment. No financial terms were disclosed. Brown Gibbons Lang & Company was financial adviser to Eastwood on the deal.
Graycliff acquires Sweeteners Plus :
Graycliff Partners LP has acquired Lakeville, New York-based Sweeteners Plus, a maker of essential liquid and dry sweeteners for quick service restaurant, specialty beverage, bakery, confectionery and pharmaceutical customers. No financial terms were disclosed.
Ardian close to buying Cerberus-owned wind farms in Spain, say sources: Reuters :
French investment fund Ardian is close to buying wind farms from Spanish renewables group Renovalia in a 550 million euro ($617.87 million) deal, two sources with knowledge of the deal said, marking a move into green energy where buyer interest is hotting up.
Cove Hill invests in NetDocuments :
Cove Hill Partners LP said May 14 that it invested in NetDocuments. Financial terms weren’t announced. NetDocuments, a Clearlake Capital Group portfolio company, provides a cloud-based content services platform for law firms and corporate legal and compliance departments.
Blackstone invests in Superbet :
Superbet said May 14 that Blackstone has invested 175 million euros ($196.6 million) in the company for a minority stake. Superbet is a sports betting and gaming operator in Romania.
CITIC invests in Cityneon :
CITIC Capital Holdings Ltd has invested in Cityneon Holdings. Financial terms or the size of CITIC’s stake weren’t announced. Cityneon partners with major movie and gaming studios globally to secure IPs to hold exclusive exhibitions to create iconic experiences for their audience.
Riverside Partners buys majority of 3Play Media :
Riverside Partners LLC said May 14 that it completed a majority investment in 3Play Media Inc. Financial terms weren’t announced. 3Play Media provides video captioning, transcription, subtitling, and audio description services to more than 2,500 customers across industries.
HealthpointCapital to buy control of CrossRoads Extremity Systems :
HealthpointCapital is taking a controlling stake in CrossRoads® Extremity Systems. Financial terms weren’t announced. CrossRoads Extremity is a medical device company that is developing foot and ankle implant systems and services. MB Venture Partners, a seller, and CrossRoads' management team will remain investors.
Spur Energy, KKR partner to buy Percussion Petroleum’s Permian Northwest Shelf assets :
Spur Energy Partners LLC and KKR said May 14 that they formed a partnership to buy the Permian Northwest Shelf assets of Percussion Petroleum LLC. Financial terms weren’t announced. The deal includes interests in about 380 gross producing wells and 22,000 net acres situated in the core of the Yeso formation in Eddy & Lea Counties, New Mexico, as well as associated water and midstream assets.
To catch the baby-boomer wave, elder-care investors need to think differently :
By Patrick McCormick, Plante Moran The boomers are coming: The massive generation born after World War II is starting to hit old age, a turning point that many senior-care operators and investors are viewing as a kind of salvation. As PE in recent years has poured investment into the assisted-living sector, many markets have become […]
Post Capital invests in Property Registration Champions :
Post Capital Partners said May 14 that it has recapitalized Property Registration Champions LLC. Financial terms weren’t announced. Prochamps is a technology and program administrator for property registration programs across the country.
ArchiMed takeover of Bomi Group closes :
ArchiMed said May 14 that its 70 million euro takeover of Bomi Group has closed. ArchiMed has acquired the more than 99 percent of Bomi Group, which provides transport, warehousing and supply chain management services for healthcare companies.
Scout24 takeover offer by Hellman & Friedman, Blackstone fails: Reuters :
A takeover bid for Germany’s Scout24 led by Hellman & Friedman and Blackstone has failed as it did not secure the required support of 50 percent of shares, Reuters reported.
Lee Equity to buy K2 Insurance Services :
Lee Equity Partners LLC said May 14 that it agreed to buy a majority of K2 Insurance Services LLC. Financial terms weren’t announced. K2 is a specialty insurance holding company. Endeavour Capital and Patrick Kilkenny, a founder, are exiting. The deal calls for Aegis Security Insurance Co to be spun off and remain under Endeavour’s and Kilkenny’s ownership. Evercore advised Lee Equity while TigerRisk Capital Markets & Advisory</strong
BlackBern acquires Zentech Manufacturing :
BlackBern Partners has acquired Zentech Manufacturing, an electronics contract manufacturer. No financial terms were disclosed.
Sky Island buys Material Sciences Corp :
Sky Island Capital has acquired Canton, Michigan-based Material Sciences Corporation, a provider of advanced materials and specialty coated metals. No financial terms were disclosed.
Sterling Partners’ EOF invests in Reading Plus :
Sterling Partners’ Education Opportunity Fund has made an investment in Vermont-based Reading Plus, a provider of literacy solutions for grades 3-12. No financial terms were disclosed.
L Squared divests its stake in Virtium to Court Square :
L Squared Capital Partners has sold its stake in Virtium to Court Square Capital Partners. No financial terms were disclosed. Based in Rancho Santa Margarita, California, Virtium is a provider of solutions provider of industrial-grade memory and storage solutions for OEMs.
Oakley Capital buys Videotel from KVH for $90 mln :
Oakley Capital has acquired KVH's maritime training business Videotel. The price of the acquisition was $90 million.
Webster acquires Vivona from Inflexion :
Webster Equity Partners has acquired Vivona Brands from Inflexion Private Equity. No financial terms were disclosed. London-based Vivona is a provider of beauty, wellness and lifestyle products. No financial terms were disclosed.
Colfax nears deal to sell air and gas unit to KPS, say sources: Reuters :
Welding and valves manufacturer Colfax Corp (CFX.N) is nearing a deal to sell its air and gas handling division to private equity firm KPS Capital Partners for more than $1.8 billion, sources told Reuters.
Sale of EQT’s Swiss outsourcing company VFS stalls, say sources: Reuters :
Buyout group EQT Partners is putting plans for a sale of outsourcing firm VFS on ice as suitors’ views on valuation were too far away from EQT’s expectations, sources told Reuters.
West Lane takes majority stake in Fantasy Files :
West Lane Capital Partners LLC has acquired a majority stake in California-based Fantasy Files, a provider of specialty cosmetic products. No financial terms were disclosed.
Tikehau backs Medtrade :
Tikehau Capital is investing 26 million pounds in Medtrade. Based in the UK, Medtrade is a developer of medical device products.
BV invests in CivicPlus :
BV Investment Partners has made an investment in Manhattan, Kansas-based CivicPlus, a tech platform for local government. No financial terms were disclosed. The investment was made in partnership with Ward Morgan, founder of CivicPlus.
Lender takes control of Flywheel Sports: Bloomberg :
Kennedy Lewis Investment Management LLC seized control of Flywheel Sports last month and is working with an adviser to gauge interest from buyers, Bloomberg reported. Flywheel Sports is known for its high-intensity indoor cycling and barre classes, the story said.
Sycamore Partners makes $407.8 mln offer for Chico’s :
Chico's FAS Inc said May 10 that it received an unsolicited proposal from Sycamore Partners to buy the company for $3.50 a share cash. The women’s apparel retailer said its board will review the bid, which Reuters valued at $407.8 million, and determine if it’s in the best interest of shareholders. Chico’s said that it recently rejected another unsolicited offer from Sycamore for $4.30 a share cash because the offer was too low. Goldman Sachs & Co LLC is financial adviser to Chico's FAS, while Paul, Weiss, Rifkind, Wharton & Garrison LLP is legal counsel.
ION to buy majority of Acuris from BC Partners, GIC :
BC Partners said May 13 that it sold a majority of Acuris to ION Investment Group. Financial terms weren’t announced although press reports pegged the sale at more than 1.35 billion pounds. GIC is also selling its stake. Acuris is a financial media and data firm. ION is backed by Carlyle Group.
U.S. fund to invest $50 million in low-cost carrier Viva Air: Reuters :
Low-cost airline Viva Air, which operates in Colombia and Peru, said on Thursday it has received a $50 million investment from U.S. capital fund the Cartesian Capital Group, which it will direct toward expansion plans.
Prostar to acquire oil storage terminal facility for about $250 mln :
Prostar Capital has agreed to acquire an oil storage terminal facility on Saint Eustatius from NuStar Energy LP for about $250 million. The deal is expected to close by the end of the second quarter of 2019.
Ironwood exits Lewis Clark Recycling Disposal :
Ironwood Capital has exited its investment in Harrisburg, Illinois-based Lewis Clark Recycling Disposal LLC, a solid waste management company. No financial terms were disclosed. The exit comes as a result of Waste Connections' acquisition of Lewis Clark.
BlackRock buys eFront, merges with Aladdin :
BlackRock Inc has acquired Paris-based eFront, an alternative investment management software and solutions provider. No financial terms were disclosed. BlackRock will merge eFront with portfolio company Aladdin.
Gender equity: PE can do a lot better :
By Tyler Newton, Catalyst Investors No one these days needs statistics to show that private equity and venture capital are too male-dominated. But here they are, from Bella Private Markets, showing that females control only 3.4% of the assets in PE. Go to investment-firm websites and see how many women are on the investment teams. That’s […]
Reverence Capital to buy Advisor Group from Lightyear, PSP :
Reverence Capital Partners said May 9 that it agreed to buy Advisor Group Inc. Financial terms weren’t announced. Reverence is buying 75 percent of Advisor Group. Lightyear Capital and PSP Investments, the sellers, will have 25 percent. Advisor Group Inc is a wealth management platform that supports over 7,000 financial advisors with $268 billion of client assets. Centerbridge Partners LP was is in talks to buy Advisor Group for more than $2 billion, Bloomberg reported in April.
J.F. Lehman sells API to AEA Investors :
AEA Investors has acquired Marlborough, Massachusetts-based API Technologies, a maker of high-performance components and subsystems for demanding RF/microwave and electromagnetic spectrum management applications. The seller was J.F. Lehman. No financial terms were disclosed. Evercore Group LLC and Houlihan Lokey Capital Inc served as financial advisers to J.F. Lehman on the transaction with Blank Rome serving as lead legal counsel.
Littlejohn to take majority stake in Outcome Health :
Littlejohn & Co LLC is acquiring a majority stake in Outcome Health, a healthcare innovation company. No financial terms were disclosed.
North Branch invests in Diversified Fall Protection :
North Branch Capital has made an investment in Westlake, Ohio-based Diversified Fall Protection, a maker of engineered fall protection systems for regulatory driven, mission critical safety applications. No financial terms were disclosed.
Monomoy acquires Kauffman Engineering :
Monomoy Capital Partners has acquired Lebanon, Indiana-based Kauffman Engineering Inc, a maker of of highly-engineered wire harnesses and cable assemblies for electrical systems across the HVAC, commercial equipment, specialty vehicle, lawn care, marine, medical and other industrial markets. No financial terms were disclosed. KPMG Corporate Finance LLC provided financial advice to Kauffman Engineering on the deal while Faegre Baker Daniels LLP provided legal counsel.
Apax to buy Baltic Classifieds Group :
Apax Partners said May 9 that it agreed to buy Baltic Classifieds Group from Media Investments & Holding OÜ. Financial terms weren’t announced. Baltic Classified operates a portfolio of online classified advertising platforms in the Baltics, including Autoplius.lt, Aruodas.lt, Skelbiu.lt, CVBankas.lt, KV.ee, City24.ee, City24.lv, Osta.ee and Soov.ee.
First Reserve buys majority of IRISNDT Inspection & Engineering Services :
First Reserve said May 9 that it acquired a majority of IRISNDT Inspection & Engineering Services through a recap. Financial terms weren’t announced. IRISNDT Inspection provides advanced and general non-destructive testing (NDT), inspection, engineering, heat treatment, rope access, and specialized software solutions to the refining, petrochemical, chemical, power generation, pipeline and industrial markets.
ATC Drivetrain buys ATP :
ATC Drivetrain said May 9 that it acquired ATP Automotive Transmission Remanufacturing Specialists Ltd, A.T.P. Electronic Developments Ltd and ATP Holdings USA LLC from ATP’s founder Alan Smart. Financial terms of the transaction were not disclosed. ATP, of the U.K., is a remanufacturer of automatic transmissions, including torque converters and automated manual transmissions, electronics and mechatronics, as well as a maker of diagnostics systems and providing associated services. ATC is backed by Crestview Partners.
Omnes closes buy of Camerus Group :
Omnes said May 9 that it closed its buy of Camerus Group, which it first invested in in 2013. Financial terms weren’t announced. With the refinance, Camerus, a French furniture rental company for trade fairs, conferences and professional events, has bought Lign’Expo.
Great Point Partners invests in Axiom Real-Time Metrics :
Axiom Real-Time Metrics, a Toronto-based provider of e-clinical solutions, has raised a “significant” undisclosed investment from Great Point Partners, a U.S. healthcare private equity firm. Founded in 2001 by CEO Andrew Schachter, Axiom provides data management, data analytics, biostatistics, pharmacovigilance and other services that support the clinical study data and operational needs of small and mid-sized life sciences companies. The investment by GPP is Axiom’s first from an external capital source. The proceeds will be used for enhancements to Axiom’s Fusion eClinical platform and growth of professional services and business development initiatives.
Accel-KKR backs Safeguard Global :
Austin-based Safeguard Global, a provider of employment outsourcing services, has raised an undisclosed amount of funding. The investor was Accel-KKR.
Fort Point recaps AMS :
Fort Point Capital has recapitalized Valencia, California-based AMS Fulfillment Holdings, a provider of omnichannel fulfillment services. No financial terms were disclosed. Kirkland & Ellis and RSM advised Fort Point on the transaction.
Ampersand Capital backs GenDx :
Ampersand Capital Partners has made a minority investment in GenDx, a Dutch provider of molecular diagnostic kits and analysis software for transplantation and companion diagnostics. No financial terms were disclosed.
Center Rock invests in Signature Systems :
Center Rock Capital Partners LP has made an investment in Flower Mound, Texas-based Signature Systems Group, a maker of composite ground protection products. No financial terms were disclosed.
Digital Colony, EQT to buy Zayo for $8.2 billion in cash: Reuters :
U.S. communications infrastructure provider Zayo Group Holdings Inc said on Wednesday it agreed to be sold to investment firms Digital Colony Partners LP and EQT for about $8.2 billion in cash.
KKR completes MYOB buyout :
KKR has acquired MYOB, an Australian online business management company. No financial terms were disclosed.
Audax acquires Chartis from RLH :
Audax Private Equity has acquired Chartis, an advisory firm for academic medical centers, integrated healthcare delivery networks, and hospitals. The seller was Riordan, Lewis & Haden | Equity Partners. No financial terms were disclosed. Lincoln International served as financial adviser to Chartis with Winston & Strawn LLP providing legal advice.
Wind Point acquires A&R Logistics :
Wind Point Partners has acquired Louisville, Kentucky-based A&R Logistics, a provider of integrated dry bulk logistics solutions for the chemical and plastic industries. No financial terms were disclosed. Antares Capital, Bain Capital, First Eagle Investment Management and Varagon Capital provided the debt financing for the transaction.
KJK acquires Slovenian sporting goods firm Elan :
KJK has acquired Elan, a Slovenian sporting goods company. No financial terms were disclosed.
Hg to invest in Litera Microsystems :
Hg will invest in Chicago-based Litera Microsystems, a provider of end-to-end document lifecycle solutions to the legal and life sciences industries. No financial terms were disclosed.
HCAP invests in CortiCare :
HCAP Partners has made an investment in Carlsbad, California-based CortiCare Inc, a neurotelemetry and remote neurological patient monitoring company. No financial terms were disclosed.
H.I.G. Europe makes three acquisitions :
H.I.G. Europe has acquired Cadica, Tessilgraf and Bernini. The newly acquired companies will form a trim and packaging manufacturer for the premium and ultra luxury fashion industry. No financial terms were disclosed. H.I.G. Europe is the European arm of H.I.G. Capital.
BGL recaps TAS Environmental Services :
Blue Point Capital Partners has recapitalized Fort Worth, Texas-based TAS Environmental Services LP, a provider of environmental and industrial services. No financial terms were disclosed. Brown Gibbons Lang & Company was financial adviser to TAS on the deal. TAS Environmental Services LP is a portfolio company of TEAM Partners LLC.
MGP backs Jackrabbit Equipment :
Midwest Growth Partners has made an investment in Jackrabbit Equipment, a maker of tree nut harvesting equipment and handling systems. No financial terms were disclosed.
PE-backed Lexitas acquires three reporting companies :
Lexitas, which is backed by Trinity Hunt Partners, has acquired three reporting companies: Barrister Reporting Service, American Stenographic and Eppley Court Reporting. No financial terms were disclosed.
Diversis Capital and Stage 1 Ventures acquires PureCars :
Diversis Capital LLC and Stage 1 Ventures has acquired PureCars, a provider of marketing automation and business intelligence for the automotive industry. No financial terms were disclosed.
ShopSabre takes in funding from LFM Capital :
LFM Capital has made an investment in Lakeville, Minnesota-based ShopSabre, a maker of CNC routers and plasma tables. No financial terms were disclosed.
KPS to acquire Brunswick Corp’s fitness business for $490 mln :
KPS Capital Partners has agreed to acquire Brunswick Corporation's fitness business for about $490 million in cash. Included in the transaction is the Life Fitness brand, a provider of commercial fitness equipment and game tables. The deal is expected to close in the second quarter of 2019. Paul, Weiss, Rifkind, Wharton & Garrison LLP provided legal counsel to KPS on the transaction.
Macquarie Capital invests in Dovel Technologies :
Macquarie Capital has made an investment in McLean, Virginia-based Dovel Technologies, a provider of customer-focused software solutions. No financial terms were disclosed.
Arsenal buys Hopebridge :
Arsenal Capital Partners has acquired Indianapolis-based Hopebridge LLC, a provider of behavioral health services for children affected by autism spectrum disorder. No financial terms were disclosed. Cain Brothers, a division of KeyBanc Capital Markets, provided financial advice to Arsenal while Harris Williams did likewise for Hopebridge.
Accel-KKR invests in OrthoFi :
Accel-KKR has made an investment in Denver-based OrthoFi Inc, a software and technology-enabled service platform in the orthodontic specialty industry. No financial terms were disclosed.
H&F-led investor group completes take-private buyout of Ultimate Software :
An investor group led by Hellman & Friedman has acquired Ultimate Software, a provider of human capital management and employee experience solutions in the cloud. The deal is valued at about $11 billion. As a result of the closing, the stock stopped trading May 3, 2019 on the NASDAQ. Blackstone, GIC, Canada Pension Plan Investment Board and JMI Equity are among the investors participating in the acquisition. Goldman Sachs provided financial advice to Ultimate while Qatalyst Partners did likewise for the investor group.
Anacapa sells Krueger-Gilbert Health Physics to Blue Sea :
Blue Sea Capital LLC has acquired Towson, Maryland-based Krueger-Gilbert Health Physics, LLC, a diagnostic medical physics provider. The seller was Anacapa Partners. No financial terms were disclosed. Piper Jaffray served as financial adviser to Krueger-Gilbert Health Physics on the transaction with Goodwin providing legal advice.
Italy’s F2i submits bid for Telecom Italia unit Persidera, say sources: Reuters :
Italian infrastructure fund F2i has submitted a binding offer for Telecom Italia’s broadcasting unit Persidera, sources told Reuters.
Australia’s Superloop in $345.5 million takeover talks with investment manager: Reuters :
Superloop Ltd said on Friday it received a revised takeover offer from QIC Private Capital Pty Ltd of A$493.9 million ($345.53 million) for the telecommunications infrastructure company.
Quad-C sells Colibri Group to Gridiron Capital :
Gridiron Capital has acquired Colibri Group from Quad-C Management. No financial terms were disclosed. Based in St. Louis, Colibri is a provider of online learning solutions to licensed professionals.
Clearlake to buy Dude Solutions from Warburg Pincus :
Clearlake Capital Group has agreed to acquire Dude Solutions from Warburg Pincus. No financial terms were disclosed. Shea & Co. served as financial adviser to Clearlake on the transaction while William Blair & Company did likewise for Dude Solutions and Warburg Pincus. Cary, North Carolina-based Dude Solutions is a provider of cloud-based operations management software.
Pamlico invests in BNI :
Pamlico Capital has made an investment in Charlotte, North Carolina-based Business Network International, a business development platform. No financial terms were disclosed. Lincoln International was financial adviser to BNI on the deal.
The hidden IT issues that can hurt a PE deal thesis and RoI :
By Chris Steele, Saggezza Skydivers and police officers know their daily jobs come with inherent risks. Likewise, private equity firms know that any given deal thesis might not realize the expected return on investment, even after meticulous due diligence. But some risks, particularly in IT, can be spotted and addressed pre-deal signing. Unaddressed, these four […]