3i Group PLC’s portfolio company Trescal plans to acquire Dynamic Technology Inc., a Detroit, Mich.-based company that offers calibration and repair services of test and measuring equipment. The deal allows Trescal to enter the U.S. market. Trescal provides calibration services.
Abraaj Capital, a private equity firm based in the United Arab Emirates, will pay 2 billion UAE dirhams ($539 million) for a 49 percent stake in Network International, Reuters reported. Network International is a subsidiary of Dubai-based lender Emirates NBD. The deal is expected to close during the first quarter of 2011.
ABRY Partners closed its deal to invest in the majority stake of New Jersey-based claims-handling business York Risk Services Group in a secondary deal from Odyssey Investment Partners. The private equity firm has spent more than a decade handling business services deals. Among its other investments in the space are its 2008 deals in Gateway EDI, a claims processor for physicians, and Orion HealthCorp, a billing agency; Talent Partners, a payroll services provider to ad agencies, and Gould & Lamb, a claims settlement service. Harris Williams and Macquarie Capital advised York.
AEA Investors portfolio company BI Inc. has agreed to merge with The GEO Group in a deal valued at $415 million. BI, of Boulder, Colo., provides supervision technologies and community-based cognitive behavioral reentry programs for adult and juvenile offenders. GEO Group also supplies correctional, detention and residential treatment services to federal, state and local government agencies globally. News of the deal was disclosed by Harris Williams, which provided financial advice to BI.
Canadian firm Alberta Investment Management Corp. will acquire a 50 percent stake in Santiago, Chile-based toll road operator Sociedad Concesionaria Autopista Central, joining shareholders Abertis Infraestructuras SA and Santander Private Equity SA. Autopista Central is a 61-kilometer, six-lane highway that connects the Santiago suburbs to the Pan-American Highway.
Apax Partners portfolio company iGate agreed to acquire a majority stake in India’s Patni Computer Systems for $1.2 billion, Reuters reported. iGate agreed to pay 503.50 rupees a share for a 63 percent stake in Patni from founder General Atlantic LLC. This values the transaction at $921 million. iGate plans to acquire another 20.6 percent stake from minority shareholders for $301 million. The deal is expected to close during the first half of 2011. The firms beat out a rival consortium composed of The Carlyle Group, Advent International and Akansa Capital.
announced that it has agreed to acquire Telgte, Germany-based Takko Fashion, a “value fashion” company. Nomura, Unicredit, Lazard and Ferber & Co. worked for Apax as advisors and Bain Consulting, PwC and Linklaters provided due diligence support to the investor. Other Apax fashion investments include Tommy Hilfiger, Phillips-Van Heusen/ Calvin Klein, rue21, inc., New Look, Tommy Bahama and The Children’s Place.
Apollo Management plans to buy a portfolio of commercial real estate loans from Credit Suisse, Reuters reported. Apollo will pay $1.2 billion for the soured real estate loans, which have a face value of $2.8 billion. Credit Suisse is providing Apollo with debt financing for the deal, Reuters said.
A group of buyout shops including Apollo Global Management is interested in pursuing Sara Lee Corp. A source familiar with the situation told Reuters that the group made an approach to the food and beverage company. The Wall Street Journal reported the news earlier and said the group includes Bain Capital and TPG Capital.
Audax Group portfolio company Great Expressions Dental Centers announced that it has completed the acquisition of Smilecare Dental Associates, located in Jacksonville, Fla. The private equity firm, having invested in Great Expressions in 2008, has rolled up several regional dental care businesses since its initial deal and continues to pursue buys, according to Audax’s Web site. Prior investments included buys in Ohio, Florida and Michigan, among others.
The Blackstone Group and Spanish private equity firm Dinamia will pay up to €8.5 million ($12.58 million) for a 5 percent maximum stake in the parent company of Spanish food cans maker Mivisa, Reuters said. Murcia, Spain-based Mivisa is currently owned by European buyout shop CVC, which bought the company in 2005, Reuters reported.
The Blackstone Group
has entered a preliminary bid for the asset portfolio of Australian shopping center owner Centro Properties Group, Reuters reported, citing an article in the Wall Street Journal. The firm is specifically interested in Centro’s 600 U.S. properties, Reuters said. Centro manages an $18.8 billion portfolio of shopping malls in the U.S., Australia and New Zealand. The company is mired in debt, and is selling the assets to put itself on stronger financial footing.
and Bain Capital are among a number of buyout shops are eyeing Fortune Brands’s home products unit, Reuters reported. Fortune Brands recently announced plans to spin off the $3 billion division, Fortune Brands Home & Security LLC.
The Blackstone Group
and Kohlberg Kravis Roberts & Co. are teaming up in a bid for medical test maker Beckman Coulter, Reuters reported. Two other firms, Apollo Management and The Carlyle Group, may also join forces as the auction for Beckman enters a second round, Reuters said. Beckman, which has a market capitalization of roughly $5 billion, hired Goldman Sachs Group Inc. to help it weigh options, including a possible sale, Reuters reported last year.
Blue Wolf Capital Partners said it is now the majority equity shareholder of Gloucester Engineering Co., which provides equipment for the plastics extrusion and converting industry. Gloucester Engineering, of Gloucester, Mass., filed for Chapter 11 bankruptcy protection last June and emerged on Dec. 31. Blue Wolf, of New York, made an initial investment in Gloucester Engineering in May as a secured lender.
Brazilian dairy producers Bom Gosto and LeitBom plan to merge their operations, Reuters reported. LeitBom is owned by Monticiano Participacoes, a joint venture between private equity firms Laep Investments and GP Investments. The newly combined company, called Lacteos Brasil, will have annual sales of roughly 3 billion reais ($1.8 billion), Reuters said.
Greenwich, Conn.-based Brynwood Partners has said that its newly formed portfolio company High Ridge Brands has bought the Zest brand from Procter & Gamble. Financial terms of the deal were not released. The new company will be based in Stamford, Conn. Brynwood Partners has more than $500 million under management.
Brynwood Partners portfolio company DeMet’s Candy Co. has acquired the TrueNorth nut snack brand from Frito-Lay North America. Financial terms of the deal were not released. Formed in 2007, DeMet’s Candy, based in Stamford, Conn., manufactures chocolate candies.
Bunker Hill Capital, based in Boston, has partnered with SunBriteTV’s founders and management in a recap deal. SunBriteTV makes LCD television sets that withstand outdoor elements for advertising and other purposes. SunBriteTV co-founders Larry Kaiser and Tom Weaver will remain stakeholders and will continue to oversee the company’s operations.
The Carlyle Group and Affinity Equity Partners are among the groups shortlisted to help finance Hana Financial Group’s $4.1 billion takeover of Korea Exchange Bank, Reuters reported, citing an article in MoneyToday. Each firm has reportedly offered more than 1 trillion won ($865.7 million) towards the deal. Hana is planning a $1 billion share sale to help fund its $4.1 billion acquisition of KEB from private equity firm Lone Star. Reuters also said private equity firms Corsair Capital and MBK Partners have submitted letters of interest to buy the shares.
In connection with its takeover by The Carlyle Group, communications cable maker CommScope said it plans to raise $1.5 billion in senior notes. The money will be used to finance the buyout, and to pay for other fees and expenses related to the deal. In October, private equity giant Carlyle offered roughly $2.9 billion for the Hickory, N.C.-based company.
Greenwich, Conn.-based Catterton Partners has acquired Noodles & Co., an operator of about 250 casual restaurants. Financial terms of the deal were not released. Catterton Partners has more than $2.5 billion of equity capital under management. Noodles & Co. was formed in 2005.
Champ Private Equity will buy the Australian and British business of wine company Constellation Brands for about A$290 million ($290.5 million). Constellation will retain a roughly 20 percent stake in the business unit. The deal is expected to close by the end of January. Formed in 1987, Champ has offices in Sydney, Brisbane, Singapore and New York.
Charlesbank Capital Partners has acquired Peacock Engineering Co., a portfolio company of Behrman Capital. Financial terms weren’t announced. Geneva, Ill.-based Peacock provides processing and packaging services for consumer companies like ConAgra Foods, General Mills and Kraft. News of the deal was disclosed by Harris Williams, which advised Peacock.
CI Capital Partners, a New York firm, will acquire a controlling stake in Tech Air, a distributor of industrial, specialty and medical gases. CI Capital is making the buy from its CI Capital Investors II LP fund. Specifics of the deal were not publicized. CI Capital’s legal counsel is Paul, Weiss, Rifkind, Wharton & Garrison LLP. Tech Air was represented by Boylan, Brown, Code, Vigdor & Wilson, LLP.
Private equity firm Citi Infrastructure Investors is planning to buy the Australian operations of ports operator DP World, Reuters reported. The deal, valued at roughly $1.5 billion, will help DP World reduce its debts. The deal is expected to close in the first quarter of 2011. DP World is a unit of Dubai World.
Concept Development Partners, an affiliate of Dallas-based private equity firm CIC Partners, will back Granite City Food & Beverage, providing $9 million in convertible preferred stock and arranging for $10 million in debt financing, the company said. Formed in 1999, Granite City Food & Brewery operates 26 restaurants in 11 states.
plans to buy Capio Sanidad, a private health care unit of private equity backed European hospital group Capio, Reuters reported. Capio is currently owned by Apax and Nordic Capital. The deal, which may close this month, values Capio Sanidad at roughly €900 million ($1.2 billion).
Despite unsolicited bids from buyout shops CVC and The Carlyle Group, Malaysia’s Johor Corp. will not sell its indirect subsidiaries QSR Brands and KFC Holdings, Reuters reported. Malaysian businessman Halim Saad had joined CVC Group in a bid, which was later topped by a $618.8 million offer from the Carlyle Group.
With backing from New York-based Diamond Castle Holdings, NuGen Capital Management and KDC Solar have formed a joint venture to develop solar electricity generator systems in Carteret, N.J.
Miami-based Empire Investment Holdings has completed its acquisition of the Groesbeck filtration business unit of Ahlstrom Corp. Financial terms of the deal were not disclosed. Groesbeck manufactures nonwoven air filtration media for the heating, ventilation and air conditioning industry.
Energy and Minerals Group portfolio company Nunavut Iron Ore sweetened its offer for Baffinland Iron Mines, Reuters reported. Nunavut Iron has upped its offer to C$1.45 ($1.45), up from C$1.35. The group wants to take a 60 percent stake in Baffinland. ArcelorMittal, the world’s largest steel producer, previously bid C$1.25 a share in a friendly buyout offer, and later hiked its bid for Baffinland to $1.40 per share, or $550 million, Reuters reported. Baffinland controls a vast iron-ore deposit in the Canadian Arctic.
Seattle-based Evergreen Pacific Partners has acquired a majority interest in Good Source Solutions, a distributor of food service products to specialized markets. Good Source is based in Carlsbad, Calif., and sells primarily to the corrections industry, educational institutions and non-profit organizations. Financial terms of the deal were not released. Evergreen has $700 million under management.
Friedman Fleischer & Lowe has completed its acquisition of Transtar Industries from Linsalata Capital Partners. The deal was financed with $425 million of senior secured credit facilities, the companies said. Transtar is a provider of auto body products for automotive repair. San Francisco-based Friedman Fleischer & Lowe has roughly $2.5 billion under management.
Friedman Fleischer & Lowe has invested an undisclosed amount in TriTech Software Systems, a provider of public safety software for law enforcement and emergency service agencies. The financing is designed to help TriTech grow its business organically and through acquisitions.
GCP Capital Partners
has paid $23 million for a controlling stake in ClearView Risk Holdings, whose principal subsidiary is Dallas-based wholesale insurance broker Southwest Risk. Southwest Risk specializes in property and casualty coverages, including real estate and construction risks, the company said. New York-based GCP Capital Partners manages five private equity funds totaling $1.9 billion in committed capital.
Gitanjali Gems Ltd., an Indian jewelry company, is in talked with two unnamed private equity players to raise as much as $100 million, Reuters reported. The deal is expected to close in February, Reuters said. Gitanjali, which is currently undergoing restructuring, plans to divest 10 percent to 12 percent equity, Reuters said.
H.I.G. Europe has joined with Chief Executive Olaf Hahn to acquire Anvis, a German automotive supplier of anti-vibration systems, from Arques Industries. Financial terms of the deal were not released. H.I.G. Capital has more than $8.5 billion of equity capital under management. The firm is based in Miami, with offices across the world.
High Road Capital Partners portfolio company Accentus, a Canadian medical transcription business, bought a pair of companies to boost its presence in outsourced medical transcription services and technology. The company, which High Road targeted for investment in 2009, will expand its footprint in the United States with Illinois-based Transolutions Inc., and Florida-based ZyloMed. Bank of Montreal and BMO Capital Corp. provided financing for the transactions.
High Road Capital Partners has acquired Montvale, New Jersey-based Dowden Health Media. Financial terms of the deal were not released, although High Road said the deal was the seventh platform investment from its debut fund. Dowden provides marketing, communications and information technology services for pharmaceutical companies and hospitals.
Billionaire investor Carl Icahn got the go-ahead from the Federal Trade Commission for his $665 million cash takeover of Dynegy Inc., Reuters reported. Icahn’s acquisition of the power producer follows a failed takeover attempt by buyout shop Blackstone Group.
Irving Place Capital said it has bought Dots, which sells affordable clothing through more than 400 stores. Financial terms of the deal, which closed Jan. 3, were not announced. Irving Place is based in New York.
Irving Place Capital portfolio company National Surgical Hospitals will acquire a majority interest in Lafayette Surgical Specialty Hospital, a specialty hospital in Louisiana. Financial terms of the recapitalization and acquisition were not released. National Surgical Hospitals owns, operates and develops surgical hospitals and surgery centers. It will own 56.9 percent of Lafayette Surgical, following the deal.
Irving Place Capital portfolio company PlayCore Holdings has acquired BigToys Inc., a maker of commercial playground equipment, and Spectrum Products, whose products are used in swimming pool construction. Financial terms of the acquisitions were not released. PlayCore makes a wide range of recreation products, and is based in Chattanooga, Tenn.
ISS, a private equity-backed Danish outsourcing firm, has formally ended talks for an $8.5 billion buyout by private equity firm Apax, Reuters reported. Goldman Sachs and Swedish buyout firm EQT currently own ISS, and will opt for a share flotation instead of an acquisition, Reuters said.
Kohlberg Kravis Roberts & Co. and TPG Capital are on the short list of potential buyers for the assets of Turkish media group Dogan Yayin, Reuters reported. Time Warner is also among those shortlisted for the sale, Reuters said. The starting price for the properties is estimated between $1.6 billion and $1.8 billion, Reuters said.
A private equity fund run by Korea Development Bank has completed its purchase of a 1 trillion won ($874.8 million) stake in Daewoo Engineering & Construction Co., Reuters reported.
Kosmos Energy, which is backed by Blackstone Group and Warburg Pincus, reached an agreement with the government of Ghana and the country’s state oil company to resolve issues around its corporate structure, Reuters reported. Kosmos, an oil exploration firm, owns 23.49 percent of Ghana’s Jubilee offshore oilfield. The firm has been attempting to sell its Ghana assets, but had to call off a $4 billion deal in August after resistance from Ghana National Petroleum Corp., Reuters said.
Leading Ridge Capital Partners, of Rockville, Md., said that it has recapped The Supply Source. Financial terms weren’t announced. Jacksonville, Fla.-based Supply Source distributes packaging and shipping products, labels, and janitorial supplies.
Leonard Green & Partners may launch a hostile bid for warehouse club operator BJ’s Wholesale Club Inc. if the company does not initiate an auction in the coming weeks, Reuters reported, citing an article in the New York Post. BJ’s Wholesale has said previously that it would begin the auction process in 2011.
Lightower Fiber Networks, a Boxborough, Mass.-based metro fiber network and bandwidth service company, has announced a long-term agreement to license the remaining fiber optic network capacity of NSTAR Communications, the Boston-based energy company. Lightower is backed by M/C Venture Partners, Pamlico Capital and Ridgemont Equity Partners.
Chicago-based Lincoln Park Capital Fund has committed a $1 million investment to Provectus Pharmaceuticals, a biotech company developing oncology and dermatology drugs. As part of the deal, Lincoln Park committed to invest up to $30 million more in equity capital. Provectus is traded on the over-the-counter Bulletin Board.
Boston-based Lineage Capital has taken a non-control stake in LifeSafer Interlock Holdings, a maker of ignition interlock devices used in the automobiles of convicted drunk driving offenders. Financial terms of the deal were not released. Northstar Capital provided debt financing and an undisclosed amount of equity in the round.
Lovell Minnick Partners has taken a minority stake in Matthews International Capital Management. Financial terms were not announced. San Francisco-based Matthews International is an asset management firm focused on Asia. Lovell Minnick invests in financial services.
Mason Wells has invested an undisclosed amount into Gurnee, Illinois-based Paris Presents Inc., a maker of branded and private label personal care products. Mason Wells, along with Paris Presents’ existing management team, acquired the company from previous owners the Zall family. No terms of the deal were released.
Mercer Investment Consulting said it has completed its buy of Hammond Associates effective Jan. 3. Financial terms were not disclosed. Hammond, of St. Louis, is an investment consulting firm that serves endowments and foundations. Mercer, a unit of Marsh & McLennan Cos., provides consulting, outsourcing and investment services.
MidOcean Partners has invested an undisclosed amount in Freshpet, which makes the Freshpet Select, Deli Fresh, and Vital brands of dog and cat food. The new money will be used, in part, to expand the company’s retail distribution channels, as well as to expand marketing. MidOcean’s Richard Thompson will join as chief executive of FreshPet. MidOcean has offices in New York and London.
Montage Partners bought LY Inc. and National Home Warranty, affiliated companies that provide warranty contracts for Las Vegas-area residential home systems and appliances as well as repairs. The Benchmark Group acted as adviser to National Home Warranty and LY Inc. Montage Partners’ other investments include Desierto Verde, which works with commercial and residential real estate landscaping companies, and Riggs Plumbing, an Arizona-based company.
Nautic Partners has acquired Aavid Thermalloy, of Concord, N.H. Company management also took part in the deal. Financial terms were not announced. Aavid designs and makes high-performance thermal management products that are used in electronic systems.
Nicolet Capital Partners portfolio company Transilwrap Co. has acquired South Carolina-based Interfilm Holdings, a maker of plastic films for consumer and industrial markets. Transilwrap, of Franklin Park, Ill., makes plastics for thermal laminating, printing, industrial, specialty packaging, and graphic arts markets. Sperry, Mitchell & Co. Inc. served as adviser to the target.
Nordic Capital Fund VII bought a 28 percent stake in Thule Group, bringing the investor’s aggregate position to 85 percent of the Swedish outdoor products maker. After spending €1.3 billion ($1.7 billion) to acquire the company from Candover in 2008, Nordic invested another $64 million in Thule in 2009 to preserve its majority stake. Ulf Rosberg, director of Thule and partner at Nordic Capital, said the investor’s goal is an IPO.
Nordic firm Norvestor Equity AS has acquired Aptilo Networks, a developer of technology to control billing, user services and access in wireless networks. Financial terms of the deal were not released. Aptilo also announced that it would buy Service Factory, a division of publicly traded Birdstep Technology. Terms of the acquisition were not disclosed.
O2 Investment Partners has acquired Silbond Corp., a specialty chemical manufacturing company based in Weston, Mich. Terms of the acquisition were not released. Founded in 1994, Silbond makes “tetra ethyl ortho silicate,” a chemical used in manufacturing semiconductors and other electronics. O2 Investment Partners is based in Bloomfield Hills, Mich.
Oak Hill Capital Partners, which recently closed its acquisition of AccentCare, said it will merge the home health care firm with home care and hospice service Guardian Home Care Holdings. Financial terms of the deal were not released. AccentCare is based in Irvine, Calif. Oak Hill Capital Partners has more than $8.2 billion under management.
Odyssey Investment Partners
portfolio company Pro Mach, based in Cincinnati, has acquired Shuttleworth, a manufacturer of conveyor automation and product-handling machinery. Terms of the deal were not released. Shuttleworth is based in Huntington, Indiana. Chicago-based PAG Capital Partners has bought a majority stake in MMA Warehouse, an online retailer of mixed martial arts gear, apparel and accessories. Financial terms of the deal were not released. Formed in 2004, MMA Warehouse is based in Wheeling, Illinois. The company’s CEO Mika Casey retains a significant ownership and will continue to lead the company.
Palladium Equity Partners has acquired Jordan Healthcare Holdings, a provider of home health care services in Texas. Financial terms of the deal were not released. Formed in 1975, Jordan Healthcare provides personal care, home management and skilled nursing services across Texas. Palladium, based in New York, focuses on investments in the U.S. Hispanic marketplace.
Pamlico Capital acquired a majority stake in CLEARLINK Technologies, the Utah-based supplier of performance-based customer acquisition solutions. CLEARLINK was advised by financial adviser Petsky Prunier Securities and legal adviser Holland & Hart LLP. Pamlico was advised by Alston & Bird LLP.
Partners Group has provided an undisclosed amount of junior debt financing to satellite communications services provider Vizada. Based in Paris, Vizada was created in 2007 from the merger of the satellite services businesses of France Telecom SA and Telenor ASA. Vizada is owned by private equity firm Apax France.
Pine Brook Road Partners has agreed to acquire United PanAm Financial Corp. in conjunction with an entity controlled by United PanAm’s chairman, Guillermo Bron. Under the terms of the deal, valued at approximately $110 million, Pine Brook Road will pay $7.05 per share, which represents a 41 percent premium over the company’s closing price on the day before the deal was announced. The deal is expected to close in the first quarter of 2011. United PanAm Financial is a specialty automobile finance company.
PNC Mezzanine Capital has provided $21.5 million in debt financing to recapitalize Wilton, New York-based Pet Partners Holdings. Pet Partners operates full-service veterinary clinics across 11 states, and will use the financing—which was in the form of senior and junior subordinated debt with warrants—to help with continued growth. M&T Investment Banking Group, a division of M&T Bank, advised Pet Partners in the deal.
Progressive Enterprises, a holding company owned by private equity firm Stone Point Capital and publicly traded Fiserv Inc., has acquired pharmacy benefit manager Progressive Medical. Financial terms of the deal were not released. Progressive Medical is based in Westerville, Ohio, and focuses on the workers’ compensation and auto no-fault markets. Progressive Enterprises was formed by Stone Point and Fiserv as a holding company for a portfolio of insurance services businesses. Stone Point is based in Greenwich, Conn.
The Riverside Company
has acquired DISA Inc., a provider of employee screening services for safety-sensitive industries. Specifics on the transaction were not publicized. Fifth Street Finance Corp. provided senior financing; Jones Day and Deloitte provided Riverside with legal counsel and accounting support, respectively. Houlihan Lokey acted as financial adviser to the target.Boston-based Riverside Partners completed its acquisition of a majority equity stake in Eliassen Group, a tech staffing and data management consultant. Specifics of the deal were not publicized. Riverside Partners is investing from its fourth fund in healthcare and technology industries, focusing on companies with revenues between $20 and $200 million and with $5-$25 million of EBITDA.
Riverstone Holdings and Harbinger Capital Partners, billionaire Philip Falcone’s hedge fund, have provided $76 million in financing to electric car maker Coda Holdings, Reuters reported. The financing is designed to support production of its all-electric sedan, Reuters said.
Riverstone/Carlyle Global Energy and Power Funds, a group of energy-focused private equity funds managed by buyout shop Riverstone Holdings, has acquired USA Compression Holdings. Financial terms of the deal were not disclosed. Formed in 1998, USA Compression provides natural gas compression services across the U.S. The company is based in Austin and Dallas. Riverstone Holdings has roughly $17 billion under management.
Riveria Investment Group, of New York, has bought a minority stake in Empire Petroleum Holdings. Financial terms were not announced. Rockville, Md.-based Empire, an East Coast distributor of fuel and petroleum products, will use the funds to recap an existing shareholder and to finance its acquisition of Mountain Express Oil Co.RoundTable Healthcare Partners portfolio company Renaissance Pharma has acquired pharmaceutical manufacturer Confab Laboratories. Financial terms of the acquisition were not released. Renaissance Pharma Confab Laboratories is based in St. Hubert, Quebec.
Sun Capital Partners portfolio company Kellwood Co. struck another deal, buying Rebecca Taylor, a women’s sportswear brand. Terms of the deal were not publicized. Other Kellwood brands include Vince, ADAM, Baby Phat, Phat Farm, Sag Harbor, Briggs NY, Jolt, and My Michelle and licensed brands XOXO and David Meister.
Sun Capital Partners portfolio company ThermaSys Corp. has acquired Covrad Holdings and Serck Heat Transfer, two U.K.-based manufacturers of heat transfer products. Financial terms of the deal were not released. Montgomery, Ala.-based ThermaSys is a supplier of copper, brass and aluminum heat-exchanger components.
Sverica International has bought The Center for Wound Healing, which manages 32 wound care treatment centers in the eastern United States. Financial terms were not announced. Sverica has offices in Boston and San Francisco.
Symphony Technology Group will pay $265 million in cash for the employer services and litigation support businesses of publicly traded CoreLogic. The newly spun-out businesses will operate under the name First Advantage. Palo Alto, Calif.-based Symphony Technology Group focuses on software and services companies. CoreLogic is based in Santa Ana, Calif.
has acquired a minority stake in Evanston Capital Management, an Illinois-based hedge fund-of-funds manager. Financial terms of the deal were not released. The private equity firm will not likely make add-on deals to support the transaction; Evanston will serve as a stand-alone investment. Middle-market buyout shop TA Associates has more than $16 billion in capital, and offices in Boston, London, Mumbai, and Menlo Park, Calif. TA invested through several funds under its management to complete the deal.
Tailwind Capital has acquired Ericsson Federal, a unit of telecommunications giant Ericsson that focuses on the U.S. federal government market. Financial terms of the deal were not released. New York-based Tailwind renamed the company Oceus Networks. Ericsson did not retain a stake in the Reston, Va.-based company.
Tata Power Co. has canceled a plan to raise $300 million by issuing shares for two of its special purpose vehicles to private-equity firm Olympus Capital Holdings Asia, Reuters reported. The Indian utility company said that certain conditions stated in the investment agreement were not fulfilled, Reuters said.
Thoma Bravo, a San Francisco firm, has completed its acquisition of the logistics technologies unit of UPS. Financial terms weren’t disclosed. The logistics technologies unit, based in Baltimore, Md., creates high-tech transportation routing and fleet management systems. Thoma Bravo has renamed the company Roadnet Technologies.
Thomas H. Lee Partners is planning to buy Acosta, a food marketer currently owned by buyout shop AEA Investors, in a deal valued at more than $2 billion, Reuters reported, citing a report by Bloomberg News.
TPG Capital, the Texas-based private equity firm, completed its acquisition of MacDonald, Dettwiler and Associates’s property information business. The private equity firm appointed Chris Cartwright to serve as CEO of the business. The transaction was announced in November.
TPG Capital will pay roughly $505 million for a portfolio of U.S. retail and mixed-use assets currently owned by ProLogis. The properties include Los Angeles Union Station, four shopping centers, two office buildings and two residential development joint ventures, among others. The assets were acquired when ProLogis merged with Catellus Development Corp. in 2005. TPG Capital has more than $48 billion under management.
Trivest Partners has recapitalized Ryko Manufacturing Co., a maker of automated car wash systems, acquiring a majority of the business. Financial terms of the deal were not released. Ryko’s management team will continue to lead the day-to-day operations of the company. Ryko was formed in 1973 and is based in Grimes, Iowa.
Paris-based Truffle Capital said that portfolio company LeadMedia has acquired Brazil-based online performance marketing firm MediaFactory. LeadMedia projects revenues for 2011 of $25 million with offices in Paris, Sao Paulo and Los Angeles.
The consumer-focused private equity firm TSG Consumer Partners has invested an undisclosed amount of financing in E.L.F. Cosmetics. Terms of the deal were not released, but the company said that TSG took a minority stake. ELF aims to expand its online business, and well as its retail presence at major retailers like Target and Dollar General. TSG has offices in San Francisco and New York.
Vintage Capital Management LLC will become majority shareholder of API Technologies Corp. after that company buys Vintage portfolio company SenDec Corp., a defense electronics manufacturing service concern based in Fairport, N.Y. API will buy 100 percent of the equity in SenDec. The deal will include SenDec’s manufacturing operations and about $30 million of cash for 22 million API common shares to an affiliate of Vintage Capital, which is based in Orlando, Fla.
Warburg Pincus will acquire ReSearch Pharmaceutical Services Inc. in a deal valued at roughly $227.3 million, Reuters said. The firm has offered $6.10 per shares for the clinical research firm.
Chicago-based Water Street Healthcare Partners will buy OraPharma from personal care conglomerate Johnson & Johnson. Financial terms were not disclosed. The firm will install former Janssen Pharmaceutica President Janet Vergis to serve as CEO of OraPharma.
Water Street Healthcare Partners portfolio company Precision Dynamics Corp. has acquired the St. John Cos. Financial terms were not announced. Santa Clarita, Calif.-based St. Johns Cos. makes and distributes labels, patient identifications, medical imaging and medical record products to U.S. hospitals. Precision Dynamics, of Burr Ridge, Ill., provides healthcare wristband and labeling systems. Harris Williams, an investment bank, advised St. John.
White Deer Energy has invested $52 million into O-Tex Pumping, including $42 million for existing equity and $10 million to acquire newly issued shares. O-Tex will use the proceeds to expand its cement pumping truck fleet and to open additional locations. Houston and New York-based White Deer has about $821 million under management and focuses on investments in energy exploration and production.
Wind Point Partners portfolio company Knape & Vogt will buy John Sterling Corp. Knape & Vogt, a maker and distributor of functional hardware, storage components and ergonomic products, will integrate the Illinois-based Sterling Corp. into its existing operations. For Wind Point Partners, 2010 has been a busy year of completing add-on deals for existing assets and platforms, including its Ryt-Way Industries and Hearthside Food Solutions.