3i and Pragma Capital have teamed to take a minority stake in Loxam Holdings, a European equipment rental company. The €60 million ($87 million) deal will provide the private investors a minority stake in Loxam, which has annual revenue of about €700 million, according to a statement issued by the companies. Other specifics of the deal were not publicized. 3i’s Denis Ribon worked on the deal for the private equity firm.
ABRY Partners has agreed to buy Masergy Communications. Financial terms were not announced. Masergy provides managed, secure virtualized network services. The deal is expected to close in 90 days.
Apollo Global Management has agreed to buy Gulf Stream Asset Management, which manages a portfolio of collateralized loan obligations and has more than $3 billion under management. The deal is expected to close during the third quarter. Terms were not released. Gulf Stream Asset Management is based in Charlotte, N.C., with offices in New York.
Apollo Global Management is planning to invest up to $500 million in Indian steel pipe manufacturer Welspun Corp., according to the company, Reuters reported. The private equity firm said it will put 13.05 billion rupees ($290 million) in Welspun, Reuters wrote.
Audax Group completed its acquisition of the Elgin Equipment Group, of Downers Grove, Ill., a maker of material processing parts for coal, oil and gas applications. Specifics on the deal were not publicized. Lincoln International advised Elgin. Kirkland & Ellis LLP served as counsel to Audax Group. GE Antares Capital, Madison Capital Funding, and BMO Capital Markets led the senior debt financing and PNC Mezzanine led the subordinated debt financing to support the transaction.
Baird Capital Partners, the buyout arm of the Milwaukee investment bank Robert W. Baird & Co., has bought Justrite Manufacturing Co., a maker of safety products for the handling and storage of flammable and hazardous liquids. Financing for the transaction is being provided by U.S. Bank, Madison Capital and Thrivent Financial for Lutherans. BCP is joined in the investment by JZ Capital Partners and management. The terms of the deal were not disclosed.
Barra Energia, the Brazilian oil and gas company based in Rio de Janeiro, has closed a deal to buy the remaining 10 percent of Royal-Dutch Shell’s stake in a deep-water subsalt exploration block off Brazil’s coast. Shell said the sale was part of a previously announced reshuffle of its asset portfolio. It plans to continue investing in Brazil and expects to participate in future exploration and production auctions. Barra Energia’s principal investors are First Reserve Corp. and Riverstone Holdings.
BlackEagle Partners portfolio company US LBM has acquired John H. Myers & Sons. Financial terms were not disclosed. York, Pa.-based Myers operates six building products stores throughout south central Pennsylvania and northern Maryland. US LBM is a building products distributor that serves the Midwest, Northeast and Mid-Atlantic.
The Blackstone Group will put 1.5 billion rupees ($34 million) into FINO, an Indian technology provider for banks, microfinance institutions and insurance companies, Reuters reported. The company’s existing investors include HSBC, ICICI Bank and Intel Capital. Blackstone did not disclose the size of its stake in FINO.
Blue Point Capital Partners has recapitalized Elyria, Ohio-based Alco Manufacturing, a provider of close tolerance precision-machined steel components. Blue Point Capital Partners is a lower mid-market private equity firm. KeyBank and Prudential Capital provided debt financing. Terms of the deal were not released.
The European private equity firm Bridgepoint is backing a management buyout of SPP Process Technology Systems from its parent company Sumitomo Precision Products, the firm announced. SPP Process Technology Systems designs, develops and manufactures equipment used in the production of devices on semiconductor substrates. Financial terms of the deal were not released. SPP Process has operations in Newport, Wales, and in San Jose, Calif.
CapMan Group portfolio company Eastway, a Nordic entertainment equipment rental and event company, is merging with Norwegian AVAB CAC and AVAB CAC Bergen. The combined company will create a larger entertainment equipment company operating throughout Finland and Norway. Terms of the deal were not released. CapMan will remain a shareholder in the new venture.
A CI Capital Partners portfolio company, Madison, Wis.-based Conney Safety Products, has acquired Mettam Safety Supply Co. of Danville, Illinois. Terms of the deal were not released. The acquisition is part of Conney’s strategy to expand its business as a specialty distributor of safety supplies and equipment. CI Capital Partners is a buyout firm based in New York.
is in exclusive talks to sell its OneMain consumer lending unit, previously known as CitiFinancial, to a consortium of private investors including Centerbridge Capital Partners, Leucadia National Corp. and Berkshire Hathaway, according to Reuters, which cited reports in the Wall Street Journal.
Clayton Dubilier & Rice is among the potential buyers for the mutual fund business of Hartford Financial Services Group, Reuters reported. The business, which has $104 billion in assets, could fetch as much as $1.5 billion, though a sale is weeks away, according to a report by Bloomberg.
Cyprium Investment Partners has completed a subordinated debt and equity investment in Network Hardware Resale. Terms of the deal were not released. NHR is a provider new and used networking systems, and the infusion will help the company refinance existing debt, as well as support operations and expansion efforts. NRH is based in Santa Barbara, Calif. Cyprium, which spun out from KeyCorp in June, has offices in Cleveland and New York.
Doughty Hanson is interested in buying Synovate, the market research unit of British marketing company Aegis, Reuters reported, citing a story in the Sunday Telegraph. Wyvern Partners is acting as financial adviser to the firm, Reuters said. Aegis had said that it was in talks with French group Ipsos about a sale. The Telegraph reported that Aegis was close to selling Synovate to Ipsos for about £520 million ($835 million).
GGC Software Holdings, an affiliate of San Francisco-based private equity firm Golden Gate Capital, and privately held business software maker Infor have completed the acquisition of Lawson Software. At $11.25 per share, the deal valued enterprise software maker Lawson at roughly $2 billion. The deal was first announced in April.
Goldman Sachs Capital Partners is in talks to buy U.S. Security Associates, sources said. Wind Point Partners, a Chicago buyout firm, is the seller. Standard & Poor’s LCD reported that Goldman was in the market for a $435 million loan to back its deal for U.S. Security Associates. Goldman, Keybanc Capital Markets and Wells Fargo are leading the financing, LCD said.
A H.I.G. Capital portfolio company Provo, Utah-based Die Cuts With a View, has acquired of the assets of Blue Moon Beads. Blue Moon Beads is a designer and supplier of jewelry-making products. Die Cuts With a View is a supplier of paper crafting products, vinyl wall art and other decorative products. The acquisition allows the company to expand its reach into other markets.
European buyout shop IK Investment Partners is acquiring the French food ingredient manufacturer Savena from Azulis Capital and Céréa Capital. Terms of the deal were not released. The deal is expected to close within four weeks. Azulis Capital and Cerea Capital bought Savena in 2007.Listed, Norcross, Ga.-based blood transfusion systems developer Immucor Inc. agreed to a deal of nearly $2 billion with private equity firm TPG Capital, with a go-shop clause until Aug. 15 to get itself a better deal. Goldman, Sachs & Co. acted as financial adviser to Immucor and King & Spalding LLP acted as the company’s legal adviser. Ropes & Gray LLP acted as legal adviser to TPG Capital. Citigroup and J.P. Morgan Securities LLC acted as financial advisers and provided fully committed financing to TPG Capital.
Kohlberg & Company portfolio company Phillips Plastics Corp. will acquire Medisize Corp. from Ratos AB and other shareholders. Medisize is a European outsourcer of manufacturing and design services for health care companies. White & Case Oy served as local counsel in Finland. Ropes & Gray represented Phillips Plastics and Kohlberg & Company. Specifics of the transaction were not publicized.
Chicago-based Lake Capital Management has acquired the global market research firm ORC International from Infogroup. Terms of the deal were not released. The deal is the latest in a string of changes at Infogroup, including a company structure more focused on its core business, and new hires across the company. ORC International was acquired by Infogroup in 2006.
Leonard Green & Partners and funds advised by CVC Capital Partners have signed an all-cash deal to buy BJ’s Wholesale Club for $2.8 billion. BJ’s shareholders will receive $51.25 per share, representing a 7 percent premium to the closing price of BJ’s shares on June 28. Morgan Stanley acted as financial adviser to BJ’s. Deutsche Bank Securities, Citigroup Global Markets, Barclays Capital and Jefferies & Co. acted as financial advisers, and—in addition to General Electric Capital and Wells Fargo Capital Finance—provided fully committed financing to CVC and Leonard Green.
A Levine Leichtman Capital Partners portfolio company, Global Franchise Group, has closed on $50 million senior credit facility. The money will be used to refinance existing debt, pay a shareholder dividend and provide for ongoing working capital needs of Global Franchise Group, the company said. The debt financing was provided by Bank of Montreal and NXT Capital.
A Madison Parker Capital portfolio company, the online college athletics recruiting platform beRecruited.com, has acquired Fanvibe, a venture-backed online and mobile sports company. The entire Fanvibe team will join beRecruited. beRecruited offers students access to more than 30,000 college coaches and recruiting programs in 31 sports across the U.S. To date, beRecruited says that its platform has facilitated more than 26.5 million connections between high school student athletes and college coaches. Fanvibe was backed by Y Combinator and by angel investors from ESPN, Google, NBC and Stubhub.
MBF Healthcare Partners has acquired a minority stake in Vero Beach, Fla.-based eMindful Inc., a provider of technology-enabled health and wellness solutions. Financial terms of the deal were not released. MBF Healthcare Partners is based in Coral Gables, Fla.
MidCap Financial, a commercial finance company backed by Genstar Capital, Lee Equity Partners and Moelis Capital Partners, has extended and renegotiated its four primary credit facilities to now exceed $900 million. The company launched in September 2008 and focuses on mid-market health care finance. The company is based in Bethesda, Md.
New York-based MidOcean Partners has completed its acquisition of Pre-Paid Legal Services for $66.50 per share, in a deal valued at roughly $650 million. Pre-Paid Legal, based in Ada, Okla., provides legal services to families and small businesses.
Oaktree Capital Management will invest about $175.5 million into First BanCorp, Reuters said. Oaktree is the second buyout shop to invest in First BanCorp in the past two months. Thomas H Lee Partners agreed to invest $180 million in the Puerto Rico-based bank in May. Oaktree will own a quarter of the bank, once the $425 million preferred shares held by the U.S. Treasury are converted into common stock, Reuters wrote.
One Equity Partners, a private investment arm of JPMorgan Chase & Co., is paying $470 million to buy customer care and business process outsourcing services provider APAC Customer Services Inc., Reuters reported. One Equity, which manages more than $10.5 billion, plans to combine APAC with outsourcing services provider and One Equity portfolio company NCO Group, Reuters wrote.
Paine & Partners said that it will buy Scanbio Marine Group, producer of fish protein concentrate, fish meal and fish oil, from its parent company Scanbio AS. Scanbio AS is owned by Rolf Eide, Per Arne Eide, Nordic secondary direct fund Verdane Capital IV and other shareholders. Terms of the deal were not released. Scanbio is based in Trondheim, Norway.
Parthenon Capital Partners has agreed to provide an undisclosed amount of financing to Eliza Corp., a provider of integrated health care communication strategies, analytics and business intelligence. The round is the first institutional financing for Eliza, and will be used to provide liquidity to some shareholders as well as provide growth capital. Following the transaction, Eliza’s founders and senior management team will continue to own a majority of the company. Parthenon has offices in Boston and San Francisco.
Parthenon Capital Partners agreed to acquire Wells Fargo & Co.’s H.D. Vest Financial Services broker/dealer business. H.D. Vest’s existing management team, led by Roger Ochs, will continue to operate the Irving, Texas, business. No financial terms were disclosed.
Permira is the frontrunner to buy a collection of businesses put up for sale by telecom gear maker Alcatel-Lucent, Reuters reported, citing sources familiar with the deal. The businesses up for sale include Genesys, which sells software for the operation of call centers and video conferencing. Permira is reportedly offering around $1.3 billion for the businesses, Reuters reported, adding that the deal process will likely last another month.
Platinum Equity, the Los Angeles-based private equity firm, struck a deal to provide debt funding and additional equity to the Finnish electronics manufacturing company Elcoteq. Specifics on the transaction were not publicized. Elcoteq and Platinum are also negotiating about further debt financing amounting to up to €80 million ($116 million). Elcoteq’s electronic manufacturing segment provides engineering, manufacturing and demand & supply services.
Providence Equity Partners is near a deal to acquired Blackboard, the Washington, D.C.-based education software maker, Reuters reported. Specifics on the transaction were not revealed, but a consortium of debt providers would include BAML, Morgan Stanley and Deutsche Bank.
SFW Capital Partners has bought Spectro Inc. Financial terms were not announced. QinetiQ Group was the seller. Littleton, Mass.-based Spectro provides instrumentation and software for machine condition monitoring and preventive maintenance. The sale was pegged at $20.5 million, a person said.
Slate Capital Group portfolio company Wythe Will Distributing has merged with Tzetzo Bros. The combined company will be called Wythe Will Tzetzo. Terms of the deal were not released. Buffalo, N.Y.-based Tzetzo is a provider of national branded, unbranded and private label confectionery products. Williamsburg, Va.-based Wythe Will is a distributor of branded and private label packaged gourmet food and confections. Slate Capital will hold a controlling stake in the combined company. Additional equity investment and mezzanine financing for the deal came from Triangle Capital Corp. and Centerfield Capital Partners. M&T Bank, Fifth Third Bank and First Niagara Bank provided senior debt financing.
Standard Chartered Private Equity has taken a 49 percent interest in South Korea’s largest forklift maker, Doosan Industrial Vehicle, Reuters reported. Terms of the deal were not released. Standard Chartered Private Equity said it planned to expand Doosan’s presence in emerging markets.
Standard Chartered Private Equity paid $98 million for a 12 percent stake in Redington India, a supply chain management company, Reuters reported. Taiwan-based Synnex Technology International Corp., a strategic investor in the company, reportedly cut its stake in Redington.
Sterling Partners portfolio company Cornerstone Records Management has bought MedResolutions Corp. Financial terms weren’t announced. MedResolutions, of Pinehurst, Texas, specializes in secured storage of hardcopy records, medical release of information (ROI) services and document scanning.
Sterling Partners teamed with SAP Ventures to invest $14 million in SAVO Group, the Chicago-based cloud-based sales enablement technology and consulting solutions company. SAP Ventures managing director Doug Higgins will join its board of directors.
Sun Capital Partners, the Boca Raton, Fla.-based investor in distress, has agreed to acquire the assets of Contessa Premium Foods through a 363 bankruptcy sale, which was approved in the U.S. Bankruptcy Court for the Central District of California. Contessa Premium Foods is based in San Pedro, Calif., and since 1984 has made a variety of frozen meals.
Buyout shop Symphony Technology Group aims to buy up all the shares of Aldata Solution that it does not yet own. The firm is offering to buy the Finnish retail software company at €0.61 ($0.88) per share, a 30 percent premium, Reuters reported. The firm currently holds a 36 percent stake in the company.
Terra Firma, the fund run by entrepreneur Guy Hands, is planning a £4 billion ($6.4 billion) bid for Royal Bank of Scotland’s aircraft financing division, RBS Aviation Capital, Reuters reported, citing a story in the Sunday Times. The report said that Hands wanted to combine RBS Aviation with Awas, a plane-leasing firm owned by Terra Firma.
Thomas H. Lee Partners has completed its acquisition of Sword Insurance. Dowling Capital Partners I LP was a co-investor in the transaction. Sword Insurance, a provider of software and services to the property and casualty insurance industry, was previously part of French-owned Sword Group. Terms were not disclosed.
Versa Capital Management has acquired the assets of Böwe Bell + Howell to form Bell and Howell LLC. Financial terms were not disclosed. Access Value Investors is coinvesting, a statement said. Wheeling, Ill.-based Bell and Howell, which provides products and services for paper-based and digital messaging, sealed a $55 million credit facility, including a $20 million term loan from Crystal Financial. The money will help support the growth and working capital needs, the company said.
Vision Capital will acquire a portfolio of investments from Banco Popolare, including Bormioli Rocco, a glass and plastic packaging manufacturer. Vision Capital’s VCP VII Luxco secured a €260 million ($376 million) bridge loan as part of the transaction; Vision Capital was represented by Ropes & Gray in the closing of the acquisition and the loan.
Chicago-based Water Street Healthcare Partners has acquired MarketLab Inc., a distributor products to the clinical laboratory, hospital nursing and magnetic resonance imaging markets. The company is headquartered in Caledonia, Mich. Water Street said that it is committing up to $70 million of equity financing to both acquire, and grow, MarketLab.
Chicago-based mid-market buyout firm Wind Point Partners acquired Rupari Foods, maker of pre-cooked and ready to eat ribs sold at retailers and through Tony Roma’s and Butcher’s Prime brands. Wind Point acquired Rupari in partnership with former Sara Lee Foods CEO Bob Kopriva and John Rice, who will serve as active co-chairmen, and Rupari’s CEO Robert Mintz. Paul Peitzsch will join as CFO. Specifics on the transaction were not publicized. Senior debt for the transaction was provided by GE Antares, a unit of GE Capital, Fifth Third Bank’s Food & Agribusiness Group and SunTrust Robinson Humphrey. DLA Piper LLP acted as the legal adviser to Wind Point. Greenberg Traurig LLP served as legal adviser to Rupari Foods
South Korea says that three local private equity firms are interested in the government’s $6 billion stake in Woori Finance Holdings. Vogo Fund and TStone confirmed that they were bidding for the stake, Reuters reported. MBK Partners was reported to be the third bidder, Reuters wrote.