State Street to buy Charles River Development : State Street Corp
agreed July 20 to buy Charles River Development
. Financial terms weren’t announced but press reports pegged the deal at $2.6 billion. Charles River, of Burlington, Massachusetts, provides investment management software for the institutional investment, wealth management and hedge fund industries. Buyouts
reported news of the sales talks
between Charles River and State Street in February. Mike Esposito
and Jason Eisenstadt
of Goldman Sachs
provided financial advice to State Street.
Southfield Capital acquires Match Marketing Group :
Southfield Capital has acquired Match Marketing Group, an omnichannel marketing services firm. No financial terms were disclosed. Petsky Prunier provided financial advice to Match on the transaction.
Onex to acquire childcare provider KidsFoundation from H.I.G. :
Canadian private equity firm Onex Corp has agreed to acquire KidsFoundation Holdings BV, a Dutch childcare services provider, in partnership with existing management. No financial terms were released for the deal, which is expected to close later this year. The seller is U.S. private equity firm H.I.G. Capital. H.I.G. established KidsFoundation in 2014 through the acquisition of assets from the estate of Estro Group. Based in Almere, the Netherlands, KidsFoundation offers nursery care as well as before- and after-school care services.
FedData rakes in funding :
McNally Capital has invested in Federal Data Systems, a provider of critical infrastructure and services to the Department of Defense and the national intelligence community. Other investors included Profile Capital Management and Pine Crest Capital. No financial terms were disclosed.
PE-backed Sunrise funds chocolate brand Little Secrets :
Sunrise Strategic Partners, an emerging brands accelerator that is backed by Trilantic North America, has invested in Boulder, Colorado-based Little Secrets, a clean label chocolate brand. No financial terms were disclosed.
New Harbor-backed Wedgewood Pharmacy merges with Diamondback Drugs :
New Harbor Capital-backed Wedgewood Pharmacy merged with Diamondback Drugs to form a combined animal-health business with more than 500 employees serving 40,000 prescribers and hundreds of thousands of animal-owners. Marcy Bliss, Wedgewood Pharmacy's president and chief executive officer, will lead the combined company.
NewSpring invests in Radius :
NewSpring has invested in Radius Global Market Research, a New York-based market research firm. Proceeds of the deal were used to acquire Cincinnati-based Illumination Research.
McWhorter and Bartow Street to raise $150 mln to invest in Horton Outdoors :
McWhorter Capital Partners and Bartow Street Capital is raising $150 million to invest in Horton Outdoor, an out of home advertising company. Horton Outdoor is backed by McWhorter Capital Partners. Bartow Street Capital, a subsidiary of Greenfield Advisors, will manage the fundraising.
Compass makes three acquisitions from Bridgepoint :
Compass Partners has made three acquisitions from Bridgepoint. They are Rodenstock, a German maker of manufacturers of ophthalmic lenses and frames; Infinitas Learning, a Dutch pure play education content and services business; and UK-based Protocol, a recruitment agency focused on skills, education and training. Glendower Capital provided $100 million to Compass to fund this transaction.
Brightstar buys QualTek :
Brightstar Capital Partners has closed its previously announced acquisition of King of Prussia, Pennsylvania-based QualTek USA LLC, a provider of turnkey solutions to the North American telecommunications and power sectors. Also, following its acquisition by Brightstar, QualTek acquired NX Canada, a wireline installation and engineering services company in Canada; and Premier CC Inc., a full-service cable and network installation company with operations across the U.S. No financial terms were disclosed.
WindRose recaps Basys :
WindRose Health Investors LLC has recapitalized Baltimore-based Basys LLC, a provider of benefits administration technology for the Taft-Hartley market. No financial terms were disclosed. Ziegler was financial adviser to Basys on the transaction. Hogan Lovells LLP provided legal advice to WindRose on the deal while Womble Bond Dickinson LLP did likewise for Basys.
Hellman & Friedman complete take-private buyout of Financial Engines :
Hellman & Friedman has closed its take-private acquisition of Financial Engines, an independent investment adviser, for $45 per share in cash. As a result of the closing, Financial Engines has stopped trading on the NASDAQ. Hellman & Friedman has merged Financial Engines with portfolio company Edelman Financial Services. Sandler O’Neill & Partners, L.P. was financial adviser to Financial Engines while Morgan Stanley, J.P. Morgan, Barclays, Deutsche Bank Securities Inc and UBS Investment Bank did likewise for Hellman & Friedman.
Edison Partners backs Giant Oak :
Arlington, Virginia-based Giant Oak, a data analytics software company, has raised $10 million in funding. The investor was Edison Partners.
TSG Consumer invests in Prive Revaux: WWD :
TSG Consumer Partners has invested in Prive Revaux, the eyewear brand worn by celebrities including Jamie Foxx and Ashley Benson, according to WWD. TSG is taking a minority stake, the story said.
Silver Lake offers $500 mln to invest in iHeartMedia: Wall Street Journal :
Silver Lake has offered to invest about $500 million in iHeartMedia, the radio broadcaster that filed for bankruptcy protection in March, the Wall Street Journal reported. IHeartMedia’s largest creditor group has not accepted the offer, the story said.
Pegasus Capital invests in Yanzi Networks :
Pegasus Capital Advisors LP said July 19 that it made a control investment in Yanzi Networks AB. Financial terms weren’t announced. Yanzi, of Stockholm, is a Swedish IoT solutions provider of facilities management services.
First Reserve to acquire Dresser NGS :
First Reserve has agreed to buy Dresser Natural Gas Solutions from Baker Hughes, a GE company. No financial terms were disclosed. Simpson Thacher is representing First Reserve on the deal. Dresser NGS is an original equipment manufacturer of commercial and industrial natural gas meters and pipeline repair products.
Tower Three takes controlling stake in Nurse Assist :
Tower Three Partners has made a controlling stake in Haltom City, Texas-based Nurse Assist LLC, a maker of medical devices. No financial terms were disclosed. In conjunction with the funding, Kevin Seifert has become the CEO of Nurse Assist.
Gridiron Capital takes control of The Service Companies :
Gridiron Capital LLC said July 18 that it acquired a controlling stake in The Service Companies Inc. Financial terms weren’t announced. The Service Companies, of Miami, consists of Heart of House Services, Acrobat Outsourcing, and JRS International. Service Companies provides services such as housekeeping, public and casino area cleaning, kitchen cleaning, stewarding, laundry services to businesses including hotels, casinos, and resorts.
Genstar to buy majority of Cetera Financial :
Genstar Capital has agreed to buy a majority of Aretec Group Inc, holding company of Cetera Financial Group. Financial terms weren’t announced. Cetera, of El Segundo, California, is a network of nearly 8,000 financial advisors. Cetera was seeking bids of $1.5 billion to $2 billion.
Genstar buys CRF Health from Vitruvian :
Genstar Capital has acquired CRF Health, a provider of patient-centered eSource technology solutions for the life sciences industry. The seller was Vitruvian Partners. No financial terms were disclosed. Genstar will merge CRF with portfolio company Bracket. The deal is expected to close by the end of 2018. Jefferies International Limited provided financial advice to CRF on the transaction with Dickson Minto acting as legal adviser to CRF. And, Ropes & Gray LLP served as legal adviser to Genstar Capital.
Mayfair backs Pixomondo :
Mayfair Equity Partners has acquired a majority stake in Los Angeles-based Pixomondo, a visual effects and digital media company. The deal puts Pixomondo at a $65 million valuation. FTI Consulting, Latham & Watkins LLP and Harris Williams & Co advised Mayfair on the transaction while Houlihan Lokey and Greenberg Glusker did likewise for Pixomondo.
Lineage Logistics racks up $700 mln :
Novi, Michigan-based Lineage Logistics LLC, a provider of temperature-controlled supply chain solutions, has raised $700 million in funding. The investors included Stonepeak Partners LP and D1 Capital Partners. Lineage is controlled and operated by Bay Grove.
BC Partners to recap Navex Global :
BC Partners has agreed to recapitalize Portland, Oregon-based Navex Global, a provider of governance, risk management and compliance software. No financial terms were disclosed. Noble Rock Advisors Incorporated will also be investing in the transaction. Navex's previous backer Vista Equity Partners will retain a minority stake in the company.
One Equity acquires OMNI Environmental Solutions :
One Equity Partners has acquired Gibson U.S. Environmental Services, from Gibson Energy Inc. No financial terms were disclosed. BlackArch Partners was financial adviser to Gibson Energy on the deal. The acquired company will be known as OMNI Environmental Solutions. Based in Carencro, Louisiana, OMNI is a provider of oilfield waste management and environmental solutions to exploration and production operators and oilfield services companies.
Capital Dynamics to buy stakes in two California solar power plants :
Capital Dynamics has agreed to acquire a 32 percent and 25 percent equity stake in two Imperial Valley, California-based solar power plants, CSolar South and West respectively. No financial terms were disclosed.
Staple Street Capital buys Dominion Voting :
Staple Street Capital has acquired Dominion Voting, a provider of election tabulation solutions to government customers. No financial terms were disclosed for the deal that was done in partnership with Dominion Voting's management. Stifel, Nicolaus & Company and Osler, Hoskin & Harcourt LLP advised Dominion Voting while Kirkland & Ellis LLP and McMillan LLP advised Staple Street Capital.
OpenGate to buy Gunnebo’s French, Belgium and Luxembourg units :
OpenGate Capital has agreed to buy Gunnebo Group's French, Belgium and Luxembourg divisions. No financial terms were disclosed for the deal that's expected to close in the fourth quarter of this year. Based in Sweden, Gunnebo Group is a provider of security products, services and solutions.
H.I.G. to sell AMPAC Fine Chemicals :
H.I.G. Capital has agreed to sell AMPAC Fine Chemicals to SK Holdings Co. Ltd. No financial terms were disclosed. Based in Rancho Cordova, California, AFC is a provider of active pharmaceutical ingredients and intermediates used in treating diseases such as cancer, CNS disorders and various viral infections.
LFM invests in Pratt Industries :
LFM Capital has made an investment in Bridgman, Michigan-based Pratt Industries, a maker of specialized trailers and chassis. No financial terms were disclosed.
Equistone Partners to sell Caseking :
Equistone Partners Europe said July 17 that it agreed to sell a majority stake in Caseking. Financial terms weren’t announced. Gilde Buy Out Partners is the acquirer. Caseking, of Berlin, is a European suppliers of PC gaming, eSports and tech products.
Stone Point to buy majority of Sabal Capital Partners :
Stone Point Capital LLC has agreed to buy a majority of Sabal Capital Partners LLC. Financial terms weren’t announced. Sabal, of Irvine, California, is a small balance debt provider and servicer.
KKR agrees to buy stake in AppLovin at $2 billion valuation: Reuters :
Private equity firm KKR & Co (KKR.N) said on Monday it will acquire a minority stake in AppLovin Corp for $400 million, just months after the U.S. mobile marketing firm was forced by Washington to scrap a deal to be acquired by a Chinese buyout firm, Reuters reported.
Salveo Capital invests in PathogenDx :
Salveo Capital said agreed to buy a minority stake in PathogenDx. Financial terms weren’t announced. PathogenDx, of Tucson, Arizona, provides DNA-based pathogen testing kits for the cannabis, botanical, food and agriculture industries.
BelHealth forms NavaDerm Partners :
New York-based BelHealth Investment Partners LLC, a healthcare-focused private equity firm, has formed NavaDerm Partners in partnership with Dermatology and Surgery Associates, Millburn Laser Center, Sharon Scherl Dermatology and Spring Street Dermatology. No financial terms were disclosed. The Northeast-based NavaDerm is a regional dermatology platform.
Eurazeo backs makeup brand Pat McGrath Labs :
Eurazeo has invested $60 million in Pat McGrath Labs, a makeup brand. The capital infusion will be used to help Pat McGrath Labs expand its distribution in the U.S.
Acorn Growth buys Berry Aviation :
Acorn Growth Companies has acquired San Marcos, Texas-based Berry Aviation Inc, a private aviation company. No financial terms were disclosed.
Northlane Capital invests in Firma :
Northlane Capital Partners has made an investment in Chicago and Hunt Valley, Maryland-based Firma Clinical Research, a contract research organization providing services to the biopharmaceutical industry. No financial terms were disclosed.
Aurora acquires Inhance :
Aurora Capital Partners has acquired Houston-based Inhance, a provider of -mold fluorination solutions. No financial terms were disclosed.
John Laing Infrastructure in talks with funds for possible $1.9 billion buyout offer: Reuters :
John Laing Infrastructure Fund (JLIF.L) said on Monday it was in talks with a consortium of funds about a possible cash buyout offer that could value the company at 1.41 billion pounds ($1.9 billion).
MavenHill leads recap of Universal Screen Arts :
MavenHill Capital has led the recapitalization of Hudson, Ohio-based Universal Screen Arts Inc, a direct marketing, catalog and ecommerce company. No financial terms were disclosed.
Australia’s Sirtex clears U.S. regulatory hurdle for Chinese buyout: Reuters :
Liver cancer treatment maker Sirtex Medical (SRX.AX) said on Monday that the U.S. Federal Trade Commission cleared its $1.4 billion buyout by a Chinese consortium, clearing a major hurdle for the deal to go through.
Capital Constellation takes minority ownership stake in Ara Partners :
Capital Constellation is acquiring a "substantial" minority ownership stake in Ara Partners Group, a middle-market private equity platform focused on the global energy and industrials sector. The price of the transaction is $150 million.
Linde sells U.S. antitrust assets for $3.3 billion to Messer, CVC: Reuters :
Germany’s Linde (LING.DE) said on Monday it would fetch $3.3 billion from selling assets to a consortium of German gases firm Messer and buyout group CVC in a deal to secure antitrust clearance for its planned $87 billion merger with U.S. group Praxair (PX.N).
Buyout firms interested in Arconic: Wall Street Journal :
Arconic, the aerospace-parts maker, is receiving takeover interest from private equity firms including Apollo Global Management, the Wall Street Journal said. Arconic, which was known as Alcoa before the aluminum maker broke itself up, currently has a market value of $8.3 billion, the story said.
KKR invests in RBmedia :
KKR has agreed to buy RBmedia. Financial terms weren’t announced. Shamrock Capital is the seller. RBmedia, of Landover, Maryland, is an independent publisher of audiobooks with a catalogue of more than 35,000 titles. Goldman Sachs & Co LLC served as financial adviser to KKR, with Simpson Thacher & Bartlett LLP as legal adviser. LionTree is financial adviser to RBmedia, with Cooley LLP serving as legal adviser.
FTV invests $54.5 mln in A-LIGN :
FTV Capital has invested $54.5 million in A-LIGN. It’s unclear how big is FTV’s stake. A-LIGN, of Tampa, Florida, provides security and compliance solutions in the form of assessments, audits and cyber risk advisory and testing services for companies ranging from small-medium sized businesses to large enterprises.
General Atlantic invests $250M in Greensill :
General Atlantic has invested $250 million in Greensill. The deal values Greensill, a London provider of working capital finance to businesses, at $1.64 billion.
Blackstone and GSAM take minority stake in Francisco Partners : Blackstone
and Goldman Sachs Asset Management have acquired
a minority stake in San Francisco and London-based Francisco Partners
, a tech-focused private equity firm. No financial terms were disclosed.
Greenhouse pulls in $50 mln Series D from Riverwood :
New York City and San Francisco-based Greenhouse, a provider of enterprise talent acquisition software, has secured $50 million in Series D funding. The investor was Riverwood Capital.
TA Associates invests in Prudent :
TA Associates has made an investment in India-based Prudent Corporate Advisory Services, a distributor of mutual fund and other wealth products. No financial terms were disclosed. DSK Legal provided legal counsel to TA Associates while Shardul Amarchand Mangaldas & Co. did likewise for Prudent.
Apollo approaches TV stations owner Nexstar about acquisition, say sources: Reuters :
Buyout firm Apollo Global Management LLC (APO.N) has approached Nexstar Media Group Inc (NXST.O), an operator of television stations that reach nearly 40 percent of U.S. households, to express interest in acquiring it, sources told Reuters.
Linde says in talks to sell assets to consortium of Messer, CVC: Reuters :
Germany’s Linde (LING.DE) and its merger partner Praxair (PX.N) are in advanced talks to sell assets to a consortium of German gases firm Messer Group GmbH and funds advised by CVC [CVC.UL], Linde said on Thursday.
SoftBank’s cheap valuation draws $1 billion bet from U.S. fund Tiger Global: Reuters :
U.S. hedge fund Tiger Global has built a stake worth over $1 billion in SoftBank Group Corp as it considers the Japanese firm undervalued, a source told Reuters, driving SoftBank shares up as much as 6.8 percent.
Cinven to buy Envirotainer :
Cinven has agreed to buy Envirotainer, a Swedish provider of temperature-controlled air cargo containers. No financial terms were disclosed
Goldman to buy Boyd Corp from Genstar :
Goldman Sachs has agreed to buy Boyd Corp. Financial terms weren’t announced. Genstar Capital is the seller. Boyd, of Pleasanton, California, provides thermal management and environmental sealing solutions. Goldman provided financial advice to Goldman while Davis Polk & Wardwell LLP is serving as legal counsel. Baird was financial adviser and Weil, Gotshal & Manges LLP is serving as legal counsel to Boyd and Genstar.
The Strategic P.R. acquires Ascenda Biosciences :
Puerto Rico-based private equity The Strategic Group, P.R. has acquired Alpharetta, Georgia-based Ascenda Biosciences LLC, a provider of medical tests. No financial terms were disclosed for the transaction that was done via a special purpose acquisition vehicle.
Humana, TPG and WCAS complete Curo acquisition : Humana Inc, TPG Capital
and Welsh, Carson, Anderson & Stowe
have closed their previously announced buyout of Curo Health Services
. The seller was Thomas H. Lee Partners
. No financial terms were disclosed; however, an earlier report
pegged the amount at $1.4 billion. Curo is an hospice operator.
Boyne Capital buys ASAP :
Boyne Capital has acquired Houma, Louisiana-based A.S.A.P. Industries Manufacturing Inc, a maker of flow control products and provider of BOP repair and recertification services primarily for the North American oil and gas industry. No financial terms were disclosed.
JD.com’s finance unit raises $2 billion, doubles valuation, say sources: Reuters :
JD.com Inc’s finance arm has raised at least 13 billion yuan ($1.96 billion) in fresh equity from Chinese investors, doubling its valuation ahead of an expected initial public offering, sources told Reuters.
Veritas completes acquisition of GE Healthcare’s ambulatory care, revenue cycle and workforce management software businesses :
Veritas Capital has closed its previously announced acquisition of GE Healthcare's enterprise financial management, ambulatory care management and workforce management assets. The price of the acquisition was $1.05 billion in cash. Morgan Stanley and Keval Health acted as financial advisers to GE on the deal while Goldman Sachs and William Blair & Company did likewise for Veritas.
Highview buys Good Source Solutions :
Highview Capital has acquired Good Source Solutions, a specialized food service distributor, from Evergreen Pacific Partners. No financial terms were disclosed.
Cosential pulls in $34 mln from JMI Equity :
Cosential, a provider of CRM and proposal automation solutions for architecture, engineering and construction firms, has secured $34 million in funding. The investor was JMI Equity. In conjunction with the funding, Bob Nye, a general partner at JMI, will join Cosential’s board of directors.
Thoma Bravo to buy majority of Centrify :
Thoma Bravo is buying a majority of Centrify. Financial terms weren’t announced. Sellers include Mayfield, Accel Partners, Jackson Square Ventures and Index Ventures. Centrify, of Santa Clara, California, is a cybersecurity firm. Golub Capital provided financing. Kirkland & Ellis is serving as Thoma Bravo's legal adviser. Sidley Austin is Centrify's legal adviser, and Barclays is providing financial advice.
Leeds Equity closes sale of Fulcrum Financial :
Leeds Equity Partners LLC said July 10 that it has closed the sale of Fulcrum Financial Data LLC to Fitch Group. Financial terms weren’t announced. Fulcrum Financial, of New York and London, provides leveraged finance and distressed debt analysis, as well as news and data. Houlihan Lokey Inc served as financial adviser and Goodwin Procter LLP served as legal counsel to Fulcrum.
Cotton Creek buys Young’s Communications :
Cotton Creek Capital has acquired Young’s Communications Co Inc. Financial terms weren’t announced. Young’s Communications provides infrastructure services to the telecommunications and utility industries in the Southeast.
TA to invest in Compusoft :
TA Associates has agreed to invest in Compusoft. Financial terms weren’t announced. Compusoft, of Sarpsborg, Norway, provides computer-aided design software to the kitchen and bathroom retail industries.
Svoboda Capital exits SWC Technology Partners :
Svoboda Capital Partners has exited its stake in Oak Brook, Illinois-based SWC Technology Partners, as a result of the latter's acquisition by BDO USA LLP. No financial terms were disclosed. Based in Oak Brook, Illinois, SWC is a provider of IT solutions.
Searchlight Capital leads $225 mln funding for MediaMath :
MediaMath, a New York City-based programmatic advertising firm, has raised $225 million in funding. The lead investor was Searchlight Capital Partners. RBC was financial adviser to MediaMath on the transaction.
Ardian takes minority stake in FiloBlu :
Ardian has acquired a minority stake in FiloBlu, an Italian digital consulting company. No financial terms were disclosed.
Audax acquires MNX from Riverside :
The Riverside Company sells MNX Global Logistics to Audax Private Equity. No financial terms were disclosed. MNX is a provider of logistics services. BB&T Capital Markets and Jones Day advised Riverside on the transaction.
Colony Capital sells stake in DAA4 :
Colony Capital Inc has sold its stake in DAA4 to AXA Investment Managers - Real Assets. No financial terms were disclosed. DATA4 is a European provider of colocation data centers.
Black Bay invests in Clean Chemistry :
Black Bay Energy Capital has made an investment in Clean Chemistry Inc, a provider of patented chemical solutions and technology for oilfield water treatment. No financial terms were disclosed. Horwood Marcus & Berk provided legal counsel to Clean Chemistry on the deal while Cooley LLP did likewise for Black Bay.
Palladium Equity invests in Spice World :
Palladium Equity Partners LLC is investing Spice World Inc. Financial terms weren’t announced. Spice World, of Orlando, Florida, supplies garlic and other spices under the Spice World brand. UPDATE: Lorin DeMordaunt of Deloitte Corporate Finance provided financial advice to Spice World, while Moore & Van Allen served as legal adviser. Piper Jaffray advised Palladium, while Kirkland & Ellis and Simpson Thacher & Bartlett were the attorneys.
Rock Hill Capital invests in LQC Pipe and Supply :
Rock Hill Capital Group said July 10 that it invested in LQC Pipe and Supply LLC through a recap. Financial terms weren’t announced. LQC, of Houston, is a wholesale distribution business providing pipes, valves and fittings to midstream and downstream end-users. Green Bank provided debt financing while Winston & Strawn provided legal advice.
CORE Industrial Partners buys Hayes Manufacturing Services :
CORE Industrial Partners said July 10 that it acquired Hayes Manufacturing Services Inc. Financial terms weren’t announced. Hayes, of Sunnyvale, California, provides precision-machined plastic and metal components for both rapid prototyping and low-volume production applications.
Brynwood buys Pillsbury baking brands, Hungry Jack from J.M. Sucker for $375 mln :
Brynwood Partners agreed to buy a portfolio of brands from The J.M. Smucker Co for $375 million. The portfolio includes exclusive U.S. rights to the iconic Pillsbury® brand’s shelf-stable baking products along with the Hungry Jack®, White Lily®, Jim Dandy® and Martha White® brands. The Pillsbury® brand license agreement is a royalty-free, perpetual agreement with General Mills Inc and encompasses all U.S. shelf-stable baking products, including flour, dry baking mixes and ready-to-spread frosting, in the retail channel. The transaction also includes the 650,000 square foot manufacturing facility in Toledo, Ohio. Brynwood Partners said it created Hometown Food Co, of Chicago, to acquire the assets from Smucker. Brynwood Partners did not retain an investment banking adviser but was represented by Holland & Knight LLP on legal matters.
Grey Mountain Partners invests in 48forty Solutions :
Grey Mountain Partners is investing in 48forty Solutions. Yukon Partners provided mezzanine capital and acquired a minority stake in the deal. Financial terms weren’t announced. 48forty Solutions, of Atlanta, is a whitewood pallet recycler in North America. It is a former division of Brambles and formerly known as CHEP Recycling. Dorsey & Whitney LLP served as legal counsel to Yukon.
Arable buys irrigation company LPI :
Arable Capital Partners has acquired California-based Lodi Pump and Irrigation, an irrigation company. No financial terms were disclosed. As a result of the deal, Steve Borra Jr. will remain president of LPI.
CPPIB, TCV buy stake in Swiss sports data group Sportradar: Reuters :
Canada Pension Plan Investment Board and Silicon Valley-based investor TCV are buying a stake in Sportradar, valuing the Swiss sports data group at 2.1 billion euros (US$2.5 billion), including debt, the companies said on Monday.
High Bluff Capital buys Taco Del Mar from Franchise Brands :
High Bluff Capital Partners has acquired Mexican fast food chain Taco Del Mar from Franchise Brands. No financial terms were disclosed.
Ardian to buy majority stake in Corob SpA :
Ardian has agreed to acquire a majority stake in Corob SpA, an Italian provider of automation solutions for dosing and dispensing in the chemical, paint, coatings and ink industries. No financial terms were disclosed. Ardian will invest alongside Wise SGR and Corob's senior management team.
UK blocks Chinese aerospace sale after security probe: Reuters :
UK private equity firm Better Capital PCC Ltd’s (BCAP.L) sale of airplane parts firm Northern Aerospace Ltd to a Chinese buyer has fallen through after regulators did not issue approval following a probe into national security concerns.
Carrick provides $80 mln to Exiger :
Carrick Capital Partners has invested $80 million in New York City-based Exiger, a provider of regulatory, financial crime, risk and compliance solutions. Deutsche Bank advised Exiger on the transaction.
L Catterton Asia and JD to invest $175 mln in Secoo :
L Catterton Asia and JD.com will invest $175 million in Secoo, an online integrated upscale products and services platform in Asia. L Catterton Asia is the Asian unit of L Catterton.
CatchMark and investor group acquire East Texas timberlands for about $1.39 bln :
CatchMark Timber Trust Inc and a consortium of investors that include BTG Pactual Timberland Investment Group, Highland Capital Management, Medley Management Inc and British Columbia Investment Management Corporation have closed its previously announced acquisition of 1.1 million acres of East Texas timberlands. The seller was Campbell Global. The price of the transaction was about $1.39 billion. Raymond James was financial adviser to CatchMark on the deal.
Branford buys controlling stake in Titan Production Equipment :
Branford Castle Partners has acquired a controlling stake in Texas-based Titan Production Equipment, a maker of oil and gas production equipment. No financial terms were disclosed.
Vista Outdoor to sell eyewear brands to European PE fund :
Vista Outdoor Inc has agreed to sell its Bollé, Cébé and Serengeti brands to an unidentified European private equity fund. The proceeds are expected to be about $158 million. Robert W. Baird & Co. served as transaction and financial adviser to Vista Outdoor on the deal while Reed Smith LLP served as legal adviser. Based in Farmington, Utah, Vista Outdoor is a maker of consumer products in the outdoor sports and recreation markets.
New Forests acquires Otago Land Company and takes minority stake in Wenita :
New Forests has acquired the Otago Land Company and a minority stake in Wenita Forest Products Ltd. The seller is The Rohatyn Group. Wenita is a softwood timber producer in New Zealand’s Otago region.
Cerberus buys controlling stake of Officine CST :
Cerberus said July 6 that it agreed to buy 57 percent of Officine CST SpA. Financial terms weren’t announced. Gianpiero Oddone, Officine’s founder and CEO, and other shareholders, were the sellers. Officine, or Rome, provides credit management services to large enterprises such as banks, institutional investors, utilities, and multinational companies, as well as small and medium sized enterprises.
Five dangers lurking in the balance sheet of your next transaction :
By Helene Banks, Cahill Gordon & Reindel Tick. Tick. Tick. Tick. Many private equity investors imagine a countdown clock as they hurriedly prepare to buy or sell a business. “Time kills deals” is the cliché, and both buy- and sell-side management teams are acutely aware of the need to reach closing day in a timely […]
EQT buys Saxo Payments Banking Circle :
EQT said July 9 that it is buying Saxo Payments Banking Circle. Financial terms weren’t announced. Sellers are Saxo Bank A/S and other minority owners. Saxo Payments Banking Circle, of Denmark, provides infrastructure for online cross-border payments.
Lawmakers question KKR, Bain, Vornado over Toys “R” Us failure: Wall Street Journal :
Nineteen members of Congress sent a letter to Toys “R” Us private equity investors and questioned their role in the failure of the retailer, the Wall Street Journal said. The July 5 letter, sent to KKR, Bain Capital and Vornado Realty Trust, asked whether the PE firms deliberately pushed Toys into bankruptcy and encouraged them to compensate the roughly 33,000 workers who lost their jobs, the story said.
PAI Partners sweetens offer for Ontex Group: Bloomberg :
PAI Partners has boosted its offer for Ontex Group NV, a Belgian diaper maker that previously rejected the PAI’s offer because it was too low, Bloomberg reported. Ontex’s board has allowed PAI to start due diligence, the story said.
3 Rivers Capital sells Deep Well Services to White Deer Energy :
White Deer Energy has acquired Deep Well Services from 3 Rivers Capital. No financial terms were disclosed. Metz Lewis Brodman Must O’Keefe LLC provided legal counsel to 3 Rivers Capital on the deal. DWS is an oilfield services company in the Appalachian Basin.
PE-backed Source Code buys Aberdeen Servers and Storage assets :
Source Code LLC, a portfolio company of JMC Capital Partners, has acquired certain assets of Aberdeen Servers and Storage. No financial terms were disclosed. Based in Santa Fe Springs, Aberdeen is a provider of custom servers and computing solutions.
Hg to buy Orion Health’s Rhapsody business, will also invest in Population Health business :
Hg has agreed to acquire Orion Health's Rhapsody business for NZ$205 million. Also, Hg will acquire a minority stake in Orion's Population Health business for NZ$20 million. Orion Health is a New Zealand-based provider of healthcare software.
Polar Star buys controlling stake in Meridian Restaurants Unlimited :
Polar Star Capital Partners has acquired a controlling stake in Meridian Restaurants Unlimited. Financial terms weren’t announced. Meridian Restaurants Unlimited, of South Ogden, Utah, operates 114 Burger King restaurants. Polar Star Capital, of Salt Lake City, is a newly launched private equity firm.
Audax Private Equity buys Van Pool Transportation :
Audax Private Equity has acquired Wilbraham, Massachusetts-based Van Pool Transportation, a provider of outsourced transportation services to K-12 students with special needs in Massachusetts, Connecticut, and New Hampshire. No financial terms were disclosed.
Partners Group to buy Megadyne and Ammeraal :
Partners Group has agreed to acquire Megadyne, an Italian maker of power transmission belts, from Astorg. Also, Partners Group has also agreed to buy acquire Ammeraal Beltech, a Dutch conveyer belt manufacturer, from Advent International. The combined value of the two deals is 2 billion euros. William Blair and RBC Capital Markets acted as M&A advisers to Partners Group while Clifford Chance provided legal advice.