Buyout beat, week of Oct. 8, 2007

XOJET flying high with $363M from TPG, Lehman


, an Atlanta-based private aviation company, has raised $143 million in private equity and debt financing from TPG and Lehman Brothers GPS. The company also has secured an additional $220 million in aircraft lease financing from Lehman Brothers GPS. It was advised by Morgan Stanley on the deal. The company has now raised more than $540 million in private equity funding.

As part of the latest financing, David Bonderman, chairman and CEO of TPG; David Siegel, chairman and CEO of Gate Gourmet; and William McGlashan Jr., partner and managing director of TPG Growth, have joined the board.

The company says that global demand for private jet travel continues to grow, and that it has orders and options for up to 110 new Bombardier and Citation business jets valued at $2.5 billion.

Bain, Huawei pays $2.2B for 3Com

Bain Capital

and Huawei Technologies Co. have agreed to acquire telecom equipment company 3Com Corp. (Nasdaq: COMS) for about $2.2 billion. Bain would take the majority stake, with Chinese networking company Huawei acquiring a minority position. Under terms of the transaction, 3Com stockholders would receive $5.30 per share.

Bain said it will submit for a national security review its proposed acquisition. The voluntary move comes after some U.S. politicians expressed concern about 3Com being partially owned by Huawei, because the Chinese telecommunications company has close ties to China’s government.

Legal analysts say a key in the government’s review of the deal will be whether Huawei is a passive or active investor.

In a statement, Bain Capital, said “We believe the U.S. government review in this matter will conclude that the company will be firmly controlled by an American firm, have only a small minority foreign shareholders, and the deal presents no risks to national security.”

Bain was co-founded by former Massachusetts Gov. Mitt Romney, a Republican presidential candidate who retired as a partner in 1999. According to disclosure forms filed with the Federal Election Commission, Romney still receives modest annual income from Bain.

Silver Lake opts to not buy Acxiom

Silver Lake Partners

and ValueAct Capital have terminated their $3 billion acquisition of Acxiom Corp. (Nasdaq: ACXM). The acquisition agreement had included a $110 million termination fee, but the two sides reduced it to $65 million. Acxiom is a Little Rock, Ark.-based provider of customer and information management solutions to large companies.

Good Energies charges up wind project

EverPower Renewables Corp.

, a New York-based developer of utility-grade wind energy projects, has received a $55 million private equity commitment from Good Energies. The deal will help EverPower further developer its existing portfolio of wind construction projects, and expand its pipeline of new projects. Company management will retain a majority ownership position.

One buyout closes

France Telecom

and Mid Europa Partners, a Central and Eastern Europe-focused private equity firm, have completed their acquisiton of One, an Austrian mobile operator, announced in June.

The transaction gives One an enterprise value of about $2 billion. The Royal Bank of Scotland, Societe Generale and Morgan Stanley provided financing.

Mid Europa Partners will hold a controlling stake of 65%, alongside France Telecom, which will hold the remaining 35%. One is the number three mobile operator in Austria with about 2 million subscribers.