Kimberly Clark de Mexico, a unit of Kimberly Clark (NYSE: KMB), has sold a 60% interest in its industrial products division (PIMSA) to Eton Park Capital Management and Impulso de Desarollos Estrategicos SA. The deal is valued at $434 million, with KCM retaining a 40% equity interest.
European Capital has acquired Whitworths Ltd., a UK-based supplier of dried fruit and nut-based products. This is considered a “one-stop buyout,” with European Capital providing senior facilities, subordinated debt, equity and a revolving credit facility. www.europeancapital.com www.whitworths.co.uk
Collins Industries Inc. (OTC BB: CNSI) shareholders have approved a $12.5 per share buyout offer from Steel Partners and American Industrial Partners. The total transaction is valued at approximately $110 million, and is expected to close later today. www.collinsind.com
Hettinger Welding Inc., a Gillette, Wyoming-based provider of welding and facilities construction services for customers building natural gas infrastructure in the < ?xml:namespace prefix = st1 />RockyMountain region, has completed a recapitalization sponsored by Clearview Capital. No financial terms were disclosed, except that Hettinger management will retain a “substantial equity stake.” www.hettingerwelding.com www.clearviewcap.com
Brown Jordan International Inc., a Pompano Beach, Fla.-based provider of luxury indoor and outdoor furniture, has completed a financial restructuring. The deal includes a $50 million equity infusion, a $200 million credit facility from LaSalle Bank and the exchange of nearly all of the company’s $105 million worth of senior subordinated notes for cash or equity. Brown Jordan is a portfolio company of Trivest Partners. www.brownjordan.com