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Deals

Lake Forest, Illinois-based Actient Pharmaceuticals has acquired Timm Medical Technologies. Financial terms of the deal were not released. Timm Medical develops products and services for the diagnosis and treatment of urological disorders. Actient was formed in 2009 in partnership with Chicago-based private equity firm GTCR. Timm Medical is Actient’s second acquisition.

Advent International and India’s RPG Group are among the bidders for the Carbon Black unit of Germany’s unlisted chemical maker Evonik Industries, Reuters reported. Advent is one of two U.S.-based private equity firms interested in the business unit, Reuters said.

Advent International has agreed to invest £200 million ($320.4 million) in Towergate Partnership Ltd, a London insurance intermediary. Goldman Sachs, Keefe, Bruyette & Woods, North Sea Partners and Weil, Gotshal & Manges advised Advent.

Apollo Management, The Blackstone Group and J.C. Flowers, as well as China Development Bank, have all made preliminary bids for failing German lender WestLB, Reuters reported. The bank is probably heading for a breakup, Reuters said, as the bidders would likely spin off the firm’s risky assets, as well as wind down investment banking and international banking operations. The deadline for offers in the auction was Feb. 11, Reuters said.

Arsenal Capital Partners portfolio company Novolyte Technologies has formed a joint venture with Foosung Co. to create a global producer of lithium-ion battery electrolytes. The venture will retain the Novolyte Tech name and will be managed by Novolyte’s current management team, a statement said. Foosung, which produces lithium salts for lithium batteries, is investing about $30 million in the venture and will also contribute a future lithium salt plant. Novolyte, of Cleveland, makes and supplies specialty electrolyte materials.

Boston-based Auctus Private Equity Fund has provided $10 million in equity financing to Monster Offers, which is traded on the over-the-counter Bulletin Board. The new funding will help Monster Offers expand its products and fun acquisitions, the company said.

Aircraft leasing company Avolon, which is backed by private equity firms Cinven, CVC and Oak Hill Capital Partners, has raised $465 million from investors including Wells Fargo Securities, Citigroup and Morgan Stanley, Reuters reported. The money will help Avolon add aircraft and additional warehouse space, Reuters said.

AXA Private Equity announced that it has bought a 22 percent stake in FitnessBoutique. Financial terms were not announced. FitnessBoutique, of Grenoble, France, sells fitness equipment and food supplements in Europe. AXA Private Equity is part of AXA Investment Managers.

Bain Capital and the Government of Singapore Investment Corp. are close to buying a minority stake in Mumbai-based motorcycle maker Hero Honda, Reuters reported, citing an article in the Financial Times. The deal could be valued as high as $1.75 billion, Reuters said.

Behrman Capital portfolio company Ark Holdings Inc. has acquired HMR Advantage Health Systems for $143.8 million. Easley, S.C.-based HMR is an owner and operator of long-term care centers. Ark Holdings owns skilled nursing homes, and is based in Memphis.

Bencis Capital Partners will acquire Desso Group BV, a textile flooring company based in the Netherlands and owned by NPM Capital. Financial terms of the deal were not released. Bencis Capital Partners has offices in the Netherlands and Belgium.

Boston-based Berkshire Partners and Rhône, with offices in New York and London, are announcing they’ve made minority equity investments in the New York-based fragrance company Coty. Investors from both of the private equity firms will take a board seat at the company. Terms of the investments aren’t being disclosed.

BJ’s Wholesale Club Inc., under pressure from potential hostile bidder Leonard Green & Partners, may put itself up for sale, Reuters reported. Reuters said that BJ’s had no timetable for a sale. The firm acquired a 9.5 percent stake in the company last summer.

Blackstone Group has acquired a majority interest in San Diego’s Hotel Del Coronado, Reuters reported. Blackstone will own 60 percent of the hotel. The deal reduces the hotel’s debt load by roughly a third, to $425 million. Strategic Hotels & Resorts, which will continue as the hotel’s asset manager, will have a 34.3 percent stake. KSL Resorts, the hotel’s operator, will hold 5.7 percent, Reuters said.

Blackstone Group and TPG Capital submitted a second-round bid for medical diagnostics company Beckman Coulter Inc., as did a second consortium made up of Apollo Management and The Carlyle Group, Reuters reported. Beckman Coulter has a market valuation of more than $5 billion.

The Carlyle Group has agreed to buy Integrated Dental Holdings from Bank of America Merrill Lynch Capital Partners. Carlyle, in partnership with Palamon Capital Partners, plans to merge Integrated Dental with Associated Dental Practices. Carlyle will own a majority while Palamon, a UK buyout shop, will share joint governance, a statement said. Financial information wasn’t disclosed but Bank of America Merrill Lynch Capital Partners is selling all of its stake. BAMLCP is the private equity arm of Bank of America.

Publicly traded Casella Waste Systems has agreed to sell certain recycling assets to a new company formed by buyout shops Pegasus Capital Advisors and Intersection LLC in a deal worth $130.4 million. The acquisition is financed by Pegasus Capital Advisors, MissionPoint Capital Partners, HarbourVest Partners, and Ares Capital Corp. Craig Cogut, founder and managing partner of Pegasus Capital, will serve as chairman of the new company.

Centurion Private Equity has provided $10 million in equity financing to DC Brands International Inc., which is traded on the over-the-counter bulletin board. The company will use the money for production and for general corporate purposes. DC Brands manufactures health products including energy drinks and nutritional supplements.

Cerberus Capital Management will pay $94.4 million in cash to buy timeshare operator Silverleaf Resorts, Reuters reported. The firm will pay $2.50 per share for Silverleaf, representing a 75 percent premium over the company’s closing price the day before the deal was announced. Cerberus, which has $23 billion under management, has agreed to provide equity financing for the full amount of the deal, Reuters said.

Chanticleer Holdings led a group of investors that acquired Hooters of America Inc. and Texas Wings Inc., the largest Hooters franchisee. Terms of the transaction were not specified. McColl Partners, based in Charlotte, N.C., served as financial adviser to the sellers, the Brooks family.

Comvest Group

portfolio company Vesdia Corp. has merged with Cartera Commerce, a provider of marketing and merchant-funded rewards programs. Financial terms of the deal were not disclosed. The combined company will retain the Cartera Commerce brand and will be headquartered in Lexington, Mass. Comvest acquired a majority interest in Vesdia in December 2009.

GenNx360 Capital Partners portfolio company Syncreon has acquired supply chain services company Compuspar. Financial terms of the deal were not released. Based in Barcelona, Compuspar provides repair, warranty and reverse logistics services for the technology industry. Auburn Hills, Mich.-based Syncreon provides contract logistics and supply chain management services. New York-based GenNx360 Capital Partners first invested in Syncreon in March 2009.

Glencoe Capital, investing through its Glencoe Capital Michigan Opportunities Fund, has acquired Spring Lake, Mich.-based Campbell Grinder Co. Financial terms of the deal were not released. Campbell Grinder manufactures high-precision grinding machines and filtration systems. Glencoe Capital and its affiliates have roughly $1.4 billion under management with offices in Chicago and Birmingham, Mich.

H.I.G. Capital is buying the building block chemicals business of Cytec Industries for $180 million in cash and notes, Reuters reported. The business makes raw materials used in automobiles, CD players and other home appliances, Reuters said. Cytec is based in Woodland Park, N.J.

H.I.G. Capital has raised its purchase price for shares of healthcare company Matrixx Initiatives by 9.4 percent to $8.75 per share, Reuters reported. The firm previously offered $8 per share. Miami-based H.I.G. Capital has more than $8.5 billion of equity capital under management.

Huntington Capital has invested an undisclosed amount in Wave Technology Solutions Group Inc., a provider of information technology services. Financial terms of the deal were not released. Founded in 1992, Wave designs business process outsourcing and IT services for commercial and municipal customers. Huntington’s current fund, Huntington Capital Fund II LP, is focused on lower-middle market mezzanine investments.

New York-based middle-market investment firm ICV Partners has acquired Stauber Performance Ingredients, a distributor of ingredients to the dietary supplement industry. The firm bought Stauber from J. H. Whitney & Co. Financial terms were not disclosed. Founded in 1998, ICV Partners has more than $440 million under management.

Irish private equity firm Kerten has acquired roughly a third of Turkish chocolate company Elit, Reuters reported, citing a story in Hurriyet newspaper. Financial terms of the deal were not released.

Kohlberg Kravis Roberts & Co. has agreed with an undisclosed Turkish partner to bid for assets belonging to media group Dogan Yayin, Reuters reported. Pragma Corporate Finance is advising the partnership between KKR and the Turkish partner, Reuters said.

Kohlberg Kravis Roberts & Co., through a partnership with Premier Natural Resources, has acquired some Texas-based shale properties from ConocoPhillips. Terms of the deal were not disclosed, but the transaction represents the second made by KKR Natural Resources.

LAB Research said that it has agreed to be acquired by a U.S.-based buyout firm for $13 million. The publicly traded LAB, a Canadian non-clinical contract research firm, didn’t reveal the name of the buyer. LAB said it has agreed to negotiate exclusively with the unidentified firm until Feb. 23.

Laredo Petroleum, the Oklahoma-based oil and gas company in which buyout firm Warburg Pincus invested in 2007, completed a sale of $350 million in senior unsecured notes. Bank of America Merrill Lynch, J.P. Morgan, and Wells Fargo Securities acted as joint book running managers for the sale. BMO Capital Markets was lead manager and Tudor, Pickering, Holt & Co. were co-managers.

Lloyds Development Capital, the private equity arm of Lloyds Banking Group, is in talks to acquire Pattonair, the supply chain unit of British aerospace parts supplier Umeco Plc, Reuters reported, citing a report in The Mail. A potential deal is estimated at £200 million ($322.2 million), Reuters wrote.

Maverick Capital led a $40 million private equity financing in Bloomington, Ind.-based ProCure Treatment Centers. The funding will help ProCure develop and expand its network of proton therapy centers. Proton therapy is a form of radiation treatment and an alternative to standard X-ray radiation for patients with cancer and for some non-cancerous tumors. Previously, ProCure had raised more than $70 million from investors including McClendon Venture Co.

New York-based MidOcean Partners will pay $650 million for publicly traded Pre-Paid Legal Services Inc., taking the company private. The cash deal, at $66.50 per share, is expected to close by the end of July. Macquarie Capital will provide debt financing for the deal.

Oak Hill Capital Partners portfolio company Vantage Oncology and Physician Oncology Services plan to merge. Financial terms of the deal were not released. The combined company will be known as Vantage Oncology. Physician Oncology Services has been a portfolio company of Oak Hill Capital since January 2007.

Oak Street Capital Management has asked portfolio company Red Robin Gourmet Burgers to appoint its nominees to the company’s board and eliminate the poison pill the restaurant chain adopted in August, Reuters reported. Oak Street and its affiliates own about 13.3 percent of Red Robin.

Partners Group and Baring Private Equity Asia have invested an undisclosed amount in private schools provider Nord Anglia Education. No terms of the deal were disclosed. Formed in 1972, Nord Anglia operates in eight cities worldwide. The new funding will help the company expand its business. Partners Group is based in Zug, Switzerland.

Partners Group has invested an undisclosed amount in Korean manufacturer Saehwa International Machinery. Partners was joined in the funding by STIC Investments. Saehwa is an outsourcer for tire mold and drum manufacturing, and builds tire making machinery. The company is based in South Korea, with operations in China and North America.

Permira is in talks with Israeli holding company IDB Holdings Corp. to buy part or all of its 55 percent stake in Clal Insurance, Reuters reported. The price for the deal could reach as high as $1.04 billion for the IDB Holdings stake, Reuters said.

Permira, CVC Capital Partners, Advantage Partners and Goldman Sachs are all considering a bid for Japanese food supplement company Everlife, which is currently owned by CLSA Capital Partners, Reuters reported. The first round of bids will close at the end of January, according to CLSA, and the deal could reach between 50 billion to 70 billion yen ($606 million to $848 million), Reuters said.

Chicago-based Prospect Partners has invested an undisclosed amount in Lawrence, Kansas-based SurePoint Medical. The management-led recapitalization is Prospects Partners’ first investment from its $200 million third fund. Formed in 2006, SurePoint Medical provides mail-order diabetes supplies. Prospect Partners focuses on lower-middle-market investments and manages $470 million across its three funds.

Providence Equity Partners is among the investors who have acquired a controlling stake in Hong Kong broadcaster Television Broadcasts Ltd, Reuters reported. Media mogul Sir Run Run Shaw sold his stake in the firm to the investor group, which was led by Charles Chan, chairman of ITC Corp Ltd. The stake is estimated to be worth between $1.16 billion and $1.29 billion, Reuters said.

Existing investors Ripplewood Holdings, Blumenstein/Thorne Information Partners and Oakleigh Thorne participated in raising $35 million in new financing for Aircell, a provider of in-flight WiFi services. Aircell is based in Itasca, Illinois.

The Riverside Company has acquired Orliman SL, the Spanish manufacturer of orthopedic braces and supports. The company had revenues of approximately €14 million in 2010. Orliman joins Riverside’s current European health care portfolio, which includes The Summit Medical Group, Crioestaminal and Diatron Group.

The Riverside Company will acquire Pareto Corp. into a newly formed subsidiary, the private equity firm announced. Pareto, which makes marketing displays and is listed on the Toronto Stock Exchange, already has 72 percent of its outstanding shares supporting the transaction and its management will continue to maintain a stake after the deal is completed. Ogilvy Renault acted as counsel to Pareto, Fraser Milner Casgrain acted as counsel to the management shareholders, and Osler Hoskin & Harcourt acted as counsel to the non-management shareholders who entered into voting support agreements. The buyout firm was represented by Stikeman Elliott and Kirkland & Ellis.

Rock Hill Capital said Monday that it has recapped Kiva Kitchen & Bath. Financial terms weren’t announced. Houston-based Kiva resells and installs high-end household appliances, plumbing fixtures, hardware, countertops and cabinets. Annual revenues were about $80 million in 2010. Rock Hill, also of Houston, invests in middle market companies with enterprise values up to $75 million.

Food company Sara Lee Corp. has rejected a buyout offer from private equity firms Apollo Global Management, Bain Capital and TPG Capital, Reuters reported, citing a story in the New York Post. The buyout shops reportedly made an offer of $18 per share, which Sara Lee considered too low.

Saudi Telecom Co. and competitor Mobily may sell a majority stake in a combined $2.5 billion merged towers business, Reuters reported. Swedish company Ericsson is considering a bid alongside Saudi private equity firm Abraaj Capital and SREI Infrastructure, Reuters added. Other potential bidders include a partnership between Indian group GTL Infrastructure and Abu Dhabi investment fund Mubadala.

SFW Capital Partners has acquired MD Buyline, a provider of strategic information and analyses to health care services companies. Financial terms of the deal were not disclosed. MD Buyline was formed in 1983, and is based in Dallas, Texas. SFW is based in Rye, N.Y.

Summit Partners-backed AFCV Holdings has agreed to buy Answers.com for about $127 million, or $10.50 a share. Answers.com’s board has approved the merger, which is expected to close in second quarter. UBS advised Answers.com while Jefferies provided financial advice to Summit.Boca Raton, Fla.-based Sun Capital Partners has invested an undisclosed amount in The SCOOTER Store. Based in New Braunfels, Texas, the company makes mobility devices for elderly and disabled people. Financial terms of the investment were not released. McColl Partners advertised the seller, a SCOOTER Store representative told peHUB. Sun takes control of the SCOOTER Store’s board, but not a majority stake in the company. It’s possible that the SCOOTER Store will make add-on deals.

Tonka Bay Equity Partners of Minnetonka, Minn., bought Checkers Industrial Products in conjunction with the company’s management, including its CEO Steve Henry. The Broomfield, Colo., company manufactures and distributes a variety of branded safety products for the industrial, mining, aviation, military, constructionx and entertainment markets.

TPG Capital

is planning to buy 14 percent of Mumbai-based packaging company Time Technoplast, Reuters reported, citing an article in the Economic Times newspaper. At 65 rupees ($1.42) per share, the deal represents a 30 percent premium over the company’s closing price on the day before the deal was disclosed. Chicago-based Wind Point Partners portfolio company Global Tube, a maker of tubes used in cooling, heating and exhaust systems for trucks and off-road vehicles, will buy the exhaust business belonging to listed, Indiana-based Cummins Inc. The transaction is expected to close in March.

Wind Point Partners has acquired Nonni’s Biscotti from Chipita America Inc. Financial terms of the deal were not disclosed. The buyout shop previously owned Nonni’s Food Co., which it divested in 2008, and is now re-acquiring the biscotti business as a stand-alone entity. The firm invested out of Wind Point VII, a $915 million fund closed in April 2009. Nonni’s Biscotti has facilities in Ferndale, New York, and Tulsa, Okla.

Wind Point Partners

has acquired Petmate, a maker of pet products including toys, pet carriers and collars. Financial terms of the deal were not released. Wind Point Partners bought the company from Westar Capital. PNC Equity Sponsor Group, Ally Commercial Finance, Bank of America Merrill Lynch and Regions Business Capital provided the senior debt financing for the deal. Chase Capital and LBC Credit Partners provided the junior debt financing.