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Deals

Apollo Management portfolio company Berry Plastics is buying the lid-making business of European drinks can maker Rexam for $360 million, Reuters reported. Berry Plastics expects to close on the cash deal during the third quarter of this year.

Apollo Global Management completed its acquisition of publicly traded CKX Inc., a company that owns the rights to the name, image and likeness of Elvis Presley, the “American Idol” television series and other entertainment properties. The deal was valued at about $510 million.

Avista Capital Partners has committed up to $125 million in funding to Houston-based Sidewinder Drilling Inc. The money will be used to build a fleet of newly constructed, fast-moving, highly efficient land drilling rigs, the company said. Avista manages $4 billion in committed capital, and has offices in New York, Houston and London.

Bain Capital and Hellman & Friedman have agreed to buy Swedish alarm company Securitas Direct from Swedish buyout firm EQT, Reuters reported. The deal reportedly values the business at about 20 billion Swedish kronor ($3.1 billion). Bain and Hellman & Friedman beat out a rival consortium of Stanley Black & Decker and Carlyle Group in the deal. Terms of the acquisition were not released.

The Bank of Ireland is in “advanced talks” with U.S. buyout firms, Reuters reported, citing a story in the Sunday Business Post. The bank is looking to raise €4.2 billion ($6 billion), and is said to be in talks with firms including TPG Capital.

The Blackstone Group is in exclusive talks to German outdoor brand Jack Wolfskin, Reuters reported. Quadriga Capital and Barclays Private Equity currently own Jack Wolfskin, and the two firms said in a statement that they aimed to complete negotiations in the third quarter.

The Blackstone Group and Affinity Equity Partners are among those mulling a 50 percent stake in Australian meat products specialist Primo Smallgoods, Reuters reported. The company has been valued at up to A$900 million ($950 million). Affinity is reportedly working with as many as 12 banks on a financing package for its bid.

CapMan, via its CapMan Buyout IX fund, has acquired a majority stake in Oslo-based alcoholic beverage importer Solera AS, the company announced. Following the close of the acquisition, CapMan will own 76 percent of the company, with the remainder held by co-investors and the management. The deal is expected to close in August.

The Carlyle Group is paying £1 billion ($1.6 billion) to buy the RAC roadside rescue business from the British insurer Aviva, Reuters reported. Aviva said it expected to make an accounting profit of £600 million pounds from the sale. The added funds will help Aviva bolster its balance sheet as it continues to tighten focus to its main insurance and savings operations, Reuters said.

The Carlyle Group and Urgo Hotels have teamed up to buy two landmark hotels in Miami Beach, Florida, paying $26.7 million. The Blue Moon Hotel and Winterhaven Hotel—both in the South Beach area—will undergo major renovations over the next six months. Urgo is based in Bethesda, Md.

The Carlyle Group has put $25 million in to India’s Visen Industries Ltd, a maker of water-based polymer emulsions, Reuters reported. Terms of the deal were not released. The firm invested from its $1 billion Carlyle Asia Growth Partners IV, which is focused on high-growth companies in India, China and Korea.

Charlesbank Capital Partners has completed its deal to buy DEI Holdings, the firms said in a joint statement. DEI Holdings, the electronics company that makes, among its other products, Polk Audio home theater systems, was taken private from the Pink Sheets for $4.46 per share in cash, or about $305 million. The company’s existing management will remain in place.

CIT Vendor Finance is backing Mage Solar USA, and together, the two businesses will operate a financing program for the Mage Group that will make more accessible the alternative energy provider’s panels for commercial users. Mage Solar is based in Dublin, Ga.

Comvest Capital II, the debt fund affiliated with the Comvest Group, will provide $15 million in debt and equity financing to Integrated Oncology Network LLC. The company is acquiring a minority interest in Vicura, a radiation oncology center with locations in southern California.

Dentsply International beat out private a number of private equity firms to buy AstraZeneca’s dental implants and medical devices unit, Reuters reported. Dentsply is paying $1.8 billion in cash for the unit, Astra Tech. The unit, with revenue last year of $535 million, is the third largest dental implants maker in the world, Reuters said. A number of buyout shops were interested in buying the unit, including Bridgepoint, Cinven, PAI Partners and Warburg Pincus.

DH Capital said it advised iWeb Group in its recent sale of a majority stake to Novacap. iWeb announced in May that Novacap had bought a majority of the Web hosting firm. The transaction reportedly valued iWeb at roughly $47 million. Novacap is a Canadian venture capital and buyout firm.

DST Systems Inc. has received buyout overtures from private equity firms in recent months, including one led by activist investor Russell Glass, according to people with knowledge of the situation, Reuters reported Thursday. Glass, founder and head of New York investment firm RDG Capital, told Reuters he had teamed up with a private equity firm and approached DST management within the last 30 days to talk about a buyout of the diversified data processing company in the mid-$60s per share range.

Music company EMI, which is owned by Citigroup, said it had launched a strategic review to examine options including a possible sale, recapitalization or initial public offering, Reuters reported. The company, home to artists such as Katy Perry and Iron Maiden, said in a statement that there was no certainty that the process would result in a transaction. Citigroup took control of EMI in February in a blow to its previous private equity owner, Terra Firma, which had fought a long battle to keep hold of the company, Reuters wrote.

Publicly traded Express-1 Expedited Solutions Inc. has sealed a deal to raise up to $150 million from Bradley S. Jacobs, Jacobs Private Equity LLC and minority co-investors. Jacobs will become the majority shareholder and chairman of its board, the company said. Express-1 is a third-party logistics transportation services provider.

Spain’s Ferrovial is in talks to sell a 10 percent stake in UK airport operator BAA, Reuters reported, citing a report in the Sunday Times. Ferrovial has reportedly been in talks with U.S.-based infrastructure company Alinda Capital Partners, Reuters wrote. The stake is estimated to be worth about $285 million.

Beer maker Foster’s Group rejected a $10.1 billion cash takeover offer from SABMiller, saying the bid was too low, Reuters reported. Investors predict, however, that the Australian brewer would succumb to a slightly higher offer, Reuters added. Foster’s, which has a 50 percent market share in Australia, has been the subject of takeover talk since it announced plans last year to spin off its struggling wine operations.

Genstar Capital has bought MW Industries. Financial terms weren’t announced. Logansport, Ind.-based MW Industries provides highly engineered springs, specialty fasteners and other precision components.

Google and Citigroup will finance a second phase of the Alta Wind Energy Center being developed by Terra-Gen Power, each investing $102 million in the project, the companies announced. Terra-Gen Power is an affiliate of Boston energy buyout firm ArcLight Capital Partners LLC and Global Infrastructure Partners. Both Google and Citi previously put $55 million into the Alta IV project, bringing each company’s total investment to $157 million.

Google and privately held SolarCity have launched a $280 million fund to finance residential solar projects, the two companies announced. The fund is Google’s largest investment to date in the clean energy sector, and will help pay for solar lease and power purchase agreement options for SolarCity customers, the company said in a written statement. Overall, Google has poured more than $680 million into clean tech investments. This fund is Google’s first investment in residential solar.

The Gores Group has completed its acquisition of the assets of Clarkesville, Ga.-based Scovill Fasteners, a manufacturer of engineered closure products. Terms of the deal were not released. Gores Group is based in Los Angeles, and its current private equity fund has committed equity capital of more than $4 billion.

GTCR has partnered with former Tribune Co. CEO Randy Michaels to buy Merlin Media LLC, the owner of several radio station properties, from Emmis Communications. Emmis will retain a significant stake in the venture, the firm said. GTCR’s investment will be made out of GTCR Fund X, a private equity fund with $3.25 billion of committed capital. Specific terms of the deal were not released. Latham & Watkins LLP served as legal counsel and PriceWaterhouseCoopers served as accounting adviser to GTCR.

Harbin Electric has agreed to be taken private by Chief Executive Tianfu Yang in a deal valuing the company at $750 million, Reuters reported. As part of the deal, Harbin will merge with Tech Full Electric Co. owned indirectly by CEO Yang. Yang, along with buyout firm Abax Global Capital, had made a $24 per share offer last October to take Harbin private, Reuters wrote.

H.I.G. Capital portfolio company Vaupell Holdings has bought Russell Plastics Technology Co. Financial terms were not announced. Lindenhurst, N.Y.-based Russell supplies composite plastics products and assemblies serving primarily the aerospace and military markets.

Huron Capital Partners has acquired Lot 26 Studio Inc., a designer and marketer of adhesive wall décor, the firm announced. Terms of the deal were not released. Huron Capital currently manages over $600 million in committed equity through three private equity funds and has offices in Detroit and Toronto.

Taiwan regulators have rejected Kohlberg Kravis Roberts & Co.’s planned $1.6 billion joint buyout of component maker Yageo Corp., Reuters reported. Still, the buyout firm remains “fully committed to its investment” in Yageo, according to a statement by Orion Investment, a company jointly held by KKR and Yageo founder and Chief Executive Pierre T.M. Chen, Reuters reported. KKR initially invested in Yageo in 2007.

Leonard Green & Partners and CVC Capital Partners have teamed up to bid on club retailer BJ’s Wholesale Club Inc., Reuters reported. Leonard Green, which owns a 9.3 percent stake in BJ’s, and CVC plan to form a new entity to acquire BJ’s shares, Reuters said.

Nautic Partners portfolio company Omnicare Clinical Research, a contract research organization, has re-named itself Theorem Clinical Research. Nautic bought the company in April, and the rebranding is part of the company’s separation from its former parent company. The company is based in King of Prussia, Pa. Nautic Partners is based in Providence, R.I.

New Evolution Ventures has provided an undisclosed amount of financing to the Atlanta-based health and weight loss company Sharecare, the company said. No terms of the deal were released. Created by Jeff Arnold and Dr. Mehmet Oz, in partnership with Oprah Winfrey’s Harpo Studios, HSW International, Sony Pictures Television and Discovery Communications, Sharecare has developed an interactive social platform designed to help people learn about health and wellness.

Oak Hill Capital Partners portfolio company Intermedia, which manages 320,000 Microsoft Exchange mailboxes for some 38,000 small and mid-size customers, has acquired the cloud services provider Zlago of Washington, D.C. Zlago’s CEO, Michael Gold, has joined New York-based Intermedia as president as part of the transaction. Terms of the deal were not disclosed, but Intermedia said the Zlago acquisition “was executed as part of Intermedia’s recent acquisition” by Oak Hill.

Oaktree Capital Management

has made a non-controlling equity investment in Sabal Financial Group, which was formerly Milestone Asset Resolution Co. Financial terms were not announced. Newport Beach, Calif.-based Sabal specializes in the acquisitions and valuation of real estate loan portfolios.

Los Angeles-based OpenGate Capital said it has agreed to buy two subsidiaries of Cascades. Financial terms weren’t announced. The deal includes Cascades Boxboard Group—Connecticut LLC, a paper mill facility located in Versailles, Conn., and Cascades Boxboard US Inc., a converting facility located in Hebron, Ky. The businesses generate a combined $100 million in revenue, a statement said. The two facilities will operate under the brand name Fusion Paperboard.

Platinum Equity portfolio company Schutt Sports will buy certain football helmet and faceguard assets that belonged to Adams USA. Schutt will continue to develop the brand under the Adams name. Terms of the deal were not publicized.

The owners of Polkomtel have received three final bids for the Polish mobile operator, Reuters reported. The company declined to name the bidders. Bankers have previously valued the company at up to 18 billion zlotys ($6.6 billion). It was put up for sale by its owners: miner KGHM, and state-linked companies PKN, PGE and coal exporter Weglokoks, as well as Vodafone, Reuters wrote.

Providence Equity Partners is close to a deal for learning software maker Blackboard Inc., Reuters reported. Blackboard, based in Washington, D.C., hired Barclays Capital in April to advise it on unsolicited, non-binding acquisition proposals. A deal could happen as early as next week, Reuters said.

New Zealand’s Rank Group will pay $1.68 billion, or $25.50 per share, for Graham Packaging Co., Reuters reported. Rank Group, a private investment company owned by New Zealand’s richest man, Graeme Hart, won the race for the company against Silgan Holdings by raising its bid from $25 per share. Silgan did not counter bid.

The Riverside Company portfolio company ActivStyle has acquired Home Wellness Inc. & Stay Dry Products Inc. Financial terms were not disclosed. Cinnaminson, N.J.-based Home Wellness distributes catheters and incontinence supplies. The deal is the fourth add-on for ActivStyle. U.S. Bank provided financing for the deal.

Two rival consortia are gearing up for bids to buy Swedish alarms firm Securitas Direct, Reuters reported. Stanley Black & Decker is expected to team up with The Carlyle Group on a bid for Securitas Direct, which is currently owned by Swedish private equity group EQT. A second consortium of Bain Capital and Hellman & Friedman is also expected to make a bid, Reuters reported.

Publicly traded Smart Modular Technologies Inc. has announced the expiration of its “go-shop period,” which followed Silver Lake Partners’s buyout offer in April. Silver Lake will acquire the Newark, Calif.-based Smart Modular in a cash deal that values the company at roughly $645 million. Smart Modular is a maker of memory chips. Silver Lake has roughly $14 billion under management.

Sun Capital Partners recapitalized its portfolio company Exopack Holding Corp., a packaging company. The recapitalization transaction included a private placement for $235 million at 10 percent due 2018 and a six-year $350 senior secured term loan facility. Mesirow Financial advised Exopack in the transaction.

Tengram Capital Partners has made a “significant” investment in Robert Graham, a men’s fashion label. Michael Buckley was also named Graham’s CEO, according to a statement. Tengram, of Westport, Conn., is a $200 million fund from entrepreneur William Sweedler.

Universal Music Group is reportedly working on a bid to buy EMI, Reuters reported. EMI was put up for sale by creditor Citigroup, which took control of the music company when private equity owner Terra Firma defaulted on a loan.

Vector Capital said that it would buy publicly traded Gerber Scientific Inc. for $281.8 million. At $11 per share, the cash consideration represents a 24 percent premium to Gerber’s average closing price over the last 30 days. Fortress Credit Corp. is providing debt financing. Based in Tolland, Conn., Gerber provides automated manufacturing systems for the sign making, specialty graphics, packaging, apparel and industrial industries.

Vector Capital has completed its $138 million acquisition of RAE Systems Inc., the firm announced. In connection with the transaction, Vector partnered with CITIC Capital Partners, a China-based private equity firm. RAE Systems, formed in 1991, makes instruments to detect gas and hazardous materials. Silicon Valley Bank provided financing for the deal.

Waud Capital Partners

portfolio company CarePoint Partners will acquire the infusion business of ArTex Medical Inc., in its 13th acquisition in four years. Terms of the deal were not released. CarePoint is an independent infusion therapy provider. Waud Capital is a mid-market buyout investment firm.

Windjammer Capital Investors has acquired Protective Industries Inc., the manufacturer of Caplugs plastic protection products. Windjammer teamed up with ShoreView Capital Partners LP, a fund managed by ShoreView Industries, on the deal. Specifics on the transaction were not publicized. Choate, Hall & Stewart LLP acted as legal counsel to Windjammer. Caplugs was advised by Houlihan Lokey Capital Inc. and the law firm of Sidley Austin LLP.