2x Consumer Products Growth Partners has backed The MegaFood and Innate Response brands of whole food nutritional supplements (owned by BioSan Laboratories). 2x Partners joins majority investor The Riverside Company and longtime owner and former CEO Carl Jackson, who retired in May but continues to be an active adviser and member of the board of directors.
3i Group portfolio company Element Materials Technology, which was formerly known as Stork Materials Technology, has acquired Detroit Testing Laboratory. Financial terms weren’t announced. Warren, Mich.-based DTL is a product qualification testing provider.
Emerging markets investor Actis announced the opening of the $100 million Ikeja City Mall in Lagos, Nigeria. The retail and leisure development was initiated by Actis three years ago and comprises 27,000 square meters (291,000 square feet) of gross built area and 23,000 square meters of leasable area. The space accommodates nearly 100 shops including Shoprite, KFC, Mr. Price, Twice as Nice, Nike and Aldo. Actis is the majority (60 percent) shareholder; Paragon Holdings and RMBIA each hold 20 percent.
Advent International, Carlyle Group, Charterhouse, Avista and Clessidra all submitted second round bids for Italian drug company Rottapharm, Reuters reported. The company is hoping to be valued at up to €2 billion ($2.7 billion), Reuters wrote.
A handful of lenders are considering committing to the $4 billion loan for Alibaba Group that will help the Chinese e-commerce giant buy back part of the 40 percent stake that Yahoo owns in the company, Thomson Reuters publication Basis Point reported. Apart from Yahoo, Softbank also owns 40 percent of Alibaba, while Yunfeng Capital—co-founded by U.S. private equity fund Silver Lake and other investors—took a 5 percent stake in November, Reuters wrote.
Altus Capital Partners has acquired majority ownership of Shelby Township, Mich.-based Models & Tools, a designer and manufacturer of tooling systems used in the aerospace and defense industries. The senior management team of Models & Tools will remain in place and maintain a significant equity stake in the company. Transaction terms were not disclosed. McGladrey Capital Markets acted as exclusive financial adviser to Models & Tools.
Dental group practice American Dental Partners has announced the expiration of the 40-day “go-shop” period during which the company solicited alternative proposals to the acquisition of the company by JLL Partners. After a broad solicitation of financial and strategic parties during the period, the company did not receive any acquisition proposals. The company expects the transaction to close in the first quarter of 2012.
The Seattle-based life sciences company AquaLive Technologies announced that its subsidiary, AquaLiv, has in hand a conditional commitment letter from an undisclosed investment group that intends to provide it with $50 million. The company expects to receive its first payment next year.
Arsenal Capital Partners portfolio company Source Refrigeration & HVAC has acquired Atlanta-based DHR Mechanical Services-Georgia. DHR is a provider of HVAC services to grocery, commercial and retail clients. Terms of the deal were not released.
Los Angeles-based Aurora Capital has acquired the Alltub Group. Headquartered near Paris, France, Alltub is a manufacturer of collapsible aluminum tubing with annual production capacity in excess of 1.5 billion tubes. Financial terms of the deal were not released.
Babson Capital Management, an investment management firm based in Springfield and Boston, Mass., and Charlotte, N.C., has provided $7.2 million of mezzanine debt financing to support Gryphon Investors’ acquisition of Trinity Consultants. Dallas-based Trinity Consultants, with offices nationwide and in China and the Middle East, is an environmental consulting company specializing in industrial air quality issues.
Bayside Capital Inc. announced that is has completed the acquisition of the assets of Alexander Gallo Holdings, parent company to court reporting and litigation support companies Esquire Deposition Solutions and Sanction Solutions. Terms of the deal were not released. Esquire Deposition is based in Atlanta.
Blue Coat Systems Inc., which makes equipment that secures, monitors and speeds Internet traffic, has agreed to be taken private by an investor group led by Thoma Bravo for $1.1 billion in a deal that throws a lifeline to a company beset by falling sales and a U.S. government probe into use of its products by Syria.
Bonds.com Group has secured a strategic investment from Michel Daher, chairman of Daher Bonds Investment Co. Other investors include Mida Holdings, Oak Investment Partners, and GFINet Inc. The total raised is $16.6 million. Bonds.com serves institutional fixed income investors by providing a zero subscription fee online trading platform for corporates.
The Carlyle Group has bought a 42 percent stake in Alamar Foods. The seller is the the Al Jammaz family of Saudi Arabia, which will continue to hold a majority stake. The deal closed on Dec. 14. Alamar is a franchise operator of Domino’s pizza and Wendy’s hamburgers outlets in the Middle East and North Africa region (but not Wendy’s in Saudi Arabia).
The Carlyle Group and Hellman & Friedman have completed their $3.9 billion deal to buy Pharmaceutical Product Development. The deal was approved by PPD shareholders on Nov. 30. Morgan Stanley advised PPD while Lazard provided a fairness opinion. Credit Suisse provided financial advice to Carlyle and Hellman & Friedman.
CHAMP Private Equity confirmed it would offer A$163 million ($166 million) for outdoor advertising firm oOh!media Group after looking at the company’s books, the target firm said, according to Reuters. The deal will place 2011 as the biggest year for buyouts since the 2006 peak, Reuters wrote.
Indianapolis-based CID Capital has provided backing to Westone Laboratories, a manufacturer of custom in-ear communication and hearing protection products. The investment will allow the Westone management team to continue to build the company with a new investment partner while allowing members of the family that founded Westone to diversify and pursue personal interests.
Cinven is assessing a 150 million pound-plus ($234 million) takeover of mother and baby products retailer Mothercare, the Sunday Telegraph reported, according to Reuters. A source familiar with the situation told Reuters that Mothercare had not yet received any approaches.
CIT Group, a provider of financing to small businesses and mid-market companies, has provided a $46.5 million senior secured credit facility to American Internet Services, a provider of enterprise-class data center and connectivity services in the Western United States. AIS is backed by Seaport Capital, Viridian Investments and DuPont Capital Management.
CIT Group, which provides lending, leasing and other financial and advisory services to the small business and mid-market sectors, announced that it was among the providers of a senior secured credit facility that TA Associates, the mid-market buyout firm, used to acquire CoSentry, an Omaha-based IT infrastructure services company.
Commercial Metals Co. has rejected billionaire investor Carl Icahn’s $1.73 billion bid to buy out the metals recycler, Reuters reported. The company said the offer substantially undervalued the business and was “opportunistic,” Reuters wrote.
The debt fund Comvest Capital II is providing a $10 million debt facility to Alana Healthcare LLC, a company that provides comprehensive patient care and clinical consultations. Specifics of the deal were not disclosed. Alana is based in Tennessee.
CPPIB Credit Investments, a wholly-owned subsidiary of CPP Investment Board has agreed to pay $125 million in cash to Dendreon Corp. for its royalty interest related to intellectual property licensed to Schering and associated with Victrelis, a treatment for chronic hepatitis C.
Crystal Financial and GB Merchant Partners co-agented a $34 million senior lending facility for Great Lakes Aviation Ltd, which, despite its name, operates in Wyoming. The company services airports in the High Plains and Rocky Mountain regions. Great Lakes Aviation was advised by Raymond James & Associates LLC.
CVC Capital Partners has dropped an idea to split its A$2.6 billion ($2.6 billion) of debt in Australia’s Nine Entertainment, with talks on refinancing likely to go well into 2012, Reuters reported. CVC had been exploring the idea to split the debt, with one tranche for banks and a second class for hedge funds that have snapped up the senior debt in recent weeks to own between 50 and 60 percent, after the firm failed to reach a deal with creditors to refinance the debt.
Darby Private Equity, the private equity arm of Franklin Templeton Investments, said that the Brazil Mezzanine Infrastructure Fund has invested 58 million reais ($30 million) in Bioenergy Geradora de Energia SA. The fund also invested 58 million reais ($30 million) in Produman Engenharia SA. BMIF invests in Brazilian infrastructure projects that are either new or expand existing, medium-sized infrastructure assets.
Denham Capital portfolio company Gradient Resources Inc., a Reno, Nevada-based developer of geothermal power, has raised $63 million in financing, according to a filing with the Securities and Exchange Committee. The money comes largely in the form of options and warrants, according to the filing. The company was formerly known as Vulcan Power Co.
The British alternative asset management company, Duet Group, has backed Expatcare Health International, a health maintenance organization based in Nigeria. This investment reflects Duet’s increasing commitment to companies in Africa looking to expand their business through growth capital. Duet recently integrated TLG Capital Investments into a newly formed Africa Private Equity arm.
Several buyout firms are preparing to participate in the roughly $4 billion auction for the unit of chemical maker DuPont that makes automotive finishes and industrial coatings, people familiar with the matter said.
Education Growth Partners has made a “significant investment” in Sightlines, a provider of performance measurement and data benchmarking services to higher education institutions. No details of the investment were released. Sightlines was formed in 2000, and is based in Guilford, Conn.
Boca Raton-based Energy 1 Corp. has secured funding from an unnamed private equity firm to put its ExhausTek technology on the road. The company has also entered into an agreement with the Nuemark Group, a financial communications and consulting firm as a part of its commitment to transparency.
EQT Infrastructure Fund plans to buy two subsidiaries from Finnish utility Fortum for around €200 million ($260.9 million) including net debt, Reuters reported. Fortum plans to complete the sale of Fortum Energiaratkaisut and Fortum Termest, which focus on heating and cooling systems for small businesses, during the first quarter of 2012.
South Korea’s Export-Import Bank of Korea is set to exercise its right to sell a 6.25 percent stake in Korea Exchange Bank, a KEXIM official said, under the same terms as U.S. buyout fund Lone Star’s 11,900 won per share sale to Hana Financial Group, Reuters reported. The KEXIM official said that the bank would convene a board meeting for final approval, Reuters reported.
Flexpoint Ford portfolio company T&H Global Holdings announced that its VeriClaim subsidiary has acquired Cramer Johnson Wiggins & Associates Inc., a provider of administration services to the property and casualty insurance market. Terms of the deal were not released.
Freeman Spogli & Co. and company management have acquired Irvine, Calif.-based Boot Barn, a western and work wear specialty retailer. Boot Barn was previously a portfolio company of investment firm Marwit Capital.
Golden Gate Capital agreed to provide a $60 million senior secured term loan to Pacific Sunwear of California, under a plan in which the retailer will close 175 to 200 underperforming stores in the next 14 months. Golden Gate gets the right to buy up to 20 percent of PacSun at an exercise price of $1.75 plus two board seats. The company also completed a $100 milion revolving credit facility with Wells Fargo Capital Finance.
Australia’s Goodman Group and Canada Pension Plan Investment Board have more than doubled their equity investment in a Chinese joint venture to $500 million, targeting growth in China’s logistics market, Reuters reported. The two parties formed an 80-20 joint venture with an initial commitment of around $180 million in 2009 to own and develop logistics assets in China. Canada Pension Plan has now committed a total of $400 million to the venture, Reuters wrote.
Gores Group has completed its acquisition of Alpheus Communications, one of the largest fiber network and data center operators in Texas. Terms were not released. The firm plans to combine Alpheus with First Communications, an existing Gores portfolio company. Genesis Park and El Paso Corp. are the sellers.
Grey Mountain Partners
, a Boulder, Colo.-based private equity firm, has acquired a majority interest in Norcross, Ga.-based Stratix Corp., which sells mobile software and services. Terms of the deal were not disclosed.
GTCR portfolio company AssuredPartners announced that it has acquired Herbert L. Jamison & Co., Jamison Special Risk Inc. and Grosvenor Brokers. Financial terms weren’t announced. West Orange, N.J.-based Jamison is an insurance brokerage. Grosvenor is a Lloyd’s broker with expertise in the placement of U.S. professional liability.
The Halifax Group has recapitalized K2 Industrial Services Inc., a provider of outsourced industrial maintenance services to refineries, petro-chemical and power generation facilities, among other companies. Terms of the deal were not released.
HealthpointCapital has acquired Blue Belt Technologies Inc., a maker of surgical instruments. Terms of the transaction were not disclosed. As part of the deal, HealthpointCapital also announced that Eric Timko joined the company as president and chief executive.
Hellman & Friedman portfolio company OpenLink is acquiring Technology Crossover Ventures‘ portfolio company SolArc, a provider of commodity management software. ArchPoint Partners served as SolArc’s investment banker, and Wilson Sonsini Goodrich & Rosati served as SolArc’s outside legal counsel in this transaction. Financial terms of the transaction were undisclosed.
Heritage Partners portfolio company REACH Medical Holdings is merging with Cal-Ore Life Flight. Cal-Ore is a provider of air and ground medical transportation services. Santa Rosa, Calif.-based REACH provides helicopter and airplane patient transportation for critically ill or injured patients. Terms of the deal were not released. Provident Healthcare Partners served as the exclusive financial adviser to Cal-Ore.
launched a tender offer for the shares of Commercial Metals at $15 apiece even as the metals recycler tries to resist his $1.73 billion hostile bid, Reuters reported.
India’s Ind-Barath Power Infra Ltd, a power infrastructure developer, is in talks to raise about $150 million from TPG Capital and Apollo Global Management, Reuters reported. The company is talking to the private-equity companies after it shelved plans for an initial public offering due to a sharp plunge in the stock markets, Reuters wrote.
Industrial Opportunity Partners, an operations-focused buyout firm based in Evanston, Ill., has acquired Toledo Molding & Die in a management buyout. Headquartered in Toledo, Ohio, TMD is an automotive supplier that designs, develops and manufactures highly engineered molded thermoplastic components and assemblies such as interior cockpit modules and air and fluid management products.
Brooklyn-based classic American brand J.McLaughlin has closed a senior debt facility from ORIX Leveraged Finance. Proceeds were used to finance the previously announced acquisition of J.McLaughlin by private equity sponsors JH Partners, the Highland Consumer Fund, and Palladin Capital Group as well as provide liquidity for the company’s future growth. ORIX Leveraged Finance was the sole financing party to the transaction and is an equity co-investor.
The Jordan Company has completed its acquisition of Heritage Food Service Equipment Inc., a distributor of replacement parts for commercial kitchen equipment manufacturers. Terms of the deal were not released. Heritage is based in Fort Wayne, Ind.
JWI Capital said it has acquired a controlling stake in Weaver Express Blower Services. Financial terms weren’t disclosed. Sugarcreek, Ohio-based Weaver installs and makes compost-based filter socks and other compost-based products for erosion and sediment control applications. Aldine Capital Partners provided mezzanine capital and an equity co-investment to support the deal, as well as additional capital for expansion of the business.
Klarna, an online payments service based in Stockholm, has closed $155 million financing from DST Global, General Atlantic and Sequoia Capital. The funding will support expansion efforts. With Klarna, consumers do not have to pay for products until they are delivered. The company says it handles more than $2.5 billion worth of transactions annually.
Four private equity firms including Kohlberg Kravis Roberts & Co. and Providence Equity Partners are bidding for health care information provider WebMD Health Corp., the New York Post reported, citing sources, according to Reuters.
A South Korean private equity fund led by Korea Development Bank has acquired gas assets from U.S. oil and gas company Apache Corp. for $200 million, KDB said, according to Reuters. The acquisition includes 490 gas rigs in East Texas.
Lakeside Network Investments, a consortium made up of 3i Infrastructure, 3i Group, GS Infrastructure Partners and Ilmarinen Mutual Pension Insurance Co., has agreed to buy from European power firm Vattenfall its electricity distribution and district heating businesses in Finland in a deal worth €1.5 billion ($2 billion), Reuters reported.
LaSalle Capital Group has acquired Pacific Maintenance Services. Founded in 1995 in Redlands, Calif., Pacific provides floor care and other outsourced building maintenance services to grocery store chains in Southern California.
U.S. private equity firm Lone Star is the preferred bidder for Lloyds Banking Group‘s £1 billion ($1.6 billion) Project Royal portfolio of UK commercial property debt, Reuters reported. Lone Star’s bid was backed by about £300 million of senior debt from Royal Bank of Canada and Citigroup, Reuters reported.
Chicago-based Maranon Capital has completed financing transactions to support follow-on acquisitions at two of its existing portfolio companies, T&H Global Holdings and DayMen Group. Maranon made its initial investment in T&H in March 2011 when it provided an integrated senior and mezzanine financing solution to support Flexpoint Ford’s acquisition of the company. And Maranon has been the sole mezzanine lender to DayMen since Brockway Moran & Partners acquired the company in October 2010.
Denver-based MarkWest Energy Partners has announced plans to acquire the 49 percent of MarkWest Liberty Midstream & Resources that it doesn’t already own from the Energy & Minerals Group. MarkWest already has extensive natural gas gathering, processing, and transmission operations in the Southwest, Gulf Coast, and Northeast regions of the United States, including the Marcellus Shale.
Utah-based Mrs. Fields’ Famous Brands, the franchisor of the cookie-maker and TCBY, completed a refinancing with Z Capital Partners and The Carlyle Group. Specifics of the transaction were not publicized. As part of the transaction, Z Capital Partners becomes the largest shareholder in the business.
Nokia is to sell its luxury subsidiary Vertu, as the Finnish handset manufacturer overhauls its business to compete with other smartphone makers, the Financial Times reported, according to Reuters. Vertu has attracted interest from private equity groups, according to one person with knowledge of the business, Reuters wrote.
Nordic Capital portfolio company Cidron Delfi has launched bid worth 2 billion Swedish crowns ($292 million) for Orc Group, a provider of software and services for brokerages and traders, Reuters reported. Cidron Delfi, indirectly owned by Nordic Capital Fund VII, said it was bidding 86 crowns per share for Orc, a 52 percent premium to the company’s average share price over the last three months, Reuters wrote.
Nordic Capital and CVC are forming a new Swedish chocolate and candy company by merging their LEAF company with well-known name Cloetta, Reuters reported. The deal values LEAF at 6.8 billion Swedish crowns ($974.8 million) on a cash and debt-free basis. After the deal, current top Cloetta shareholder Malfors Promotor will hold 22 percent of the share capital and 39.9 percent of the votes in the new company, Reuters reported. CVC will hold 33 percent of the share capital and 25.4 percent of the votes, while Nordic Capital will hold 24.6 percent of the shares and 18.9 percent of the votes.
New York-based Patriarch Partners has acquired Hussey Copper, a copper product manufacturer. Terms of the deal were not released. Hussey Copper has operations in Leetsdale, Penn., and Eminence, Ky.
Central and eastern European private equity investor Royalton Capital Investors II has acquired an indirect stake of 70 percent of IUS Software, a Slovenian online information provider to legal and business professionals. The purchase of IUS marks Royalton’s first investment in Slovenia and its third acquisition in central and eastern Europe this year.
Saratoga Capital has agreed to buy a majority stake in PT Medco Power from Indonesian listed oil company PT Medco Energi Internasional, Reuters reported. Medco Energi CEO Lukman Mahfoedz told Reuters the company has invited Saratoga to expand Medco Power to help tap growing electricity demand.
Scout Partners and KBW Capital Partners have invested in International Planning Group. Financial terms weren’t disclosed. Wellesley, Mass.-based International Planning is a life insurance sales, marketing, distribution and consulting company.
Searchlight Capital Partners has acquired a controlling stake in Hunter Boot Ltd. Existing shareholders will retain a stake. Financial terms weren’t announced. Hunter makes and supplies the well-known Hunter brand of boots.
Shamrock Capital Advisors has invested in Learfield Communications. Financial terms weren’t announced. Clyde Lear, Learfield’s founder, will continue as a minority shareholder. Learfield manages the athletic multimedia rights for more than 50 collegiate institutions and associations through its Learfield Sports operating unit.
SES Holdings (Saxon) has merged its rig business with the business of the Schlumberger Rig Management Group. As a result of the transaction, Saxon will continue to be owned by Schlumberger, affiliates of investment firm First Reserve Corp. and Saxon management.
Mid-market firm SFW Capital Partners has completed a majority investment in Buyers Laboratory, a provider of analytical testing and competitive intelligence services to the digital imaging and document management industry. The current owners, Michael Danziger and Mark Lerch, will retain a substantial stake in the company and will continue in their roles as CEO and COO, respectively. John Donnelly will continue as managing director of BLI International. Terms of the transaction were not disclosed.
Shaner Capital has acquired Pittsburgh-based Metal Foundations, a company specializing in the design, engineering and installation of metal foundations for building. Terms of the deal were not released.Buyout firm Spectrum Equity and venture capital firm Trident Capital are expected to invest $56 million in health care software company HealthMEDX Inc. for a controlling stake, Reuters reported. As part of the investment, former president of McKesson Technology Solutions, Pamela Pure, will join HealthMEDX as chief executive officer.UK-based buyout shop Star Capital is close to signing a deal with ThyssenKrupp to buy the civilian shipbuilding businesses of its Blohm + Voss unit, Reuters reported. Hamburg-based Blohm + Voss makes yachts for the rich as well as submarines and frigates.
Sun Capital Partners portfolio company Lexington Home Brands, a furniture maker, has completed its acquisition of Sligh Furniture Co. Terms were not released. Sligh makes home office and entertainment furniture.
Sycamore Partners has made an unsolicited offer to struggling women’s clothing retailer Talbots Inc., proposing a $212 million buyout of the company. The $3-a-share cash offer values the retailer at a 92 percent premium to the stock’s closing price on the day before the offer. Sycamore acquired a 9.9 percent stake in Talbots in August, becoming the second biggest shareholders in Talbots, after OppenheimerFunds, which at the time held a 13.27 percent stake, according to Reuters. The bid is “opportunistic and a very low offer,” a top investor in the retailer said, according to a Reuters report.
Talisman Capital Partners portfolio company Terry’s Tire Town has acquired Englewood Tire Wholesale. The deal was announced by Morgan Stanley Credit Partners, which said it provided $38 million in mezzanine debt financing as part of the deal. Based in Alliance, Ohio, Terry’s Tire Town is a regional tire distribution company.
An investor group led by private equity firm Thoma Bravo will buy Internet-monitoring gear maker Blue Coat Systems Inc. for about $1.3 billion in cash, Reuters reported. The deal values Blue Coat at $25.81 a share, roughly a 48 percent premium to the stock’s close the day before the deal was announced.
Thomas H. Lee Partners is in the lead to buy consumer-health assets from GlaxoSmithKline, Reuters reported. Glaxo has been hoping to receive second-round bids for a clutch of its non-prescription drugs, which include its diet pill Alli, Lactacyd soap, FiberChoice diet supplements and Nytol sleep aid, Reuters wrote.
The supervisory board of ThyssenKrupp’s Marine Systems division has approved plans to sell the civilian shipbuilding business of Blohm + Voss to British private equity company Star Capital, Reuters reported.
TPG Capital has been dropped from the auction for a majority stake in British grocer Iceland Foods because its bid was too low, Reuters reported. Other bidders, private equity firms Bain Capital and BC Partners, as well as grocer Asda and Wm Morrison, are through to a second round of bidding, with offers expected in around the end of January, Reuters wrote.
TPG Capital has bought NZ$70 million ($53 million) of the debt of New Zealand media company MediaWorks from Commonwealth Bank of Australia, Reuters reported. TPG Capital now holds about 20 percent of the senior loans of MediaWorks, Reuters wrote. MediaWorks was acquired by Australian firm Ironbridge Capital in 2007 in a NZ$800 million leveraged buyout.
TPG Capital has acquired a 30 percent stake in Saxo Bank, an online trading and investment specialist. TPG Capital has acquired the stake from existing investors, including global growth investor General Atlantic and Portuguese bank Banco Espirito Santo, among others. General Atlantic and Banco Espirito Santo invested in Saxo Bank in 2005 and 2008, respectively.
TPG Capital and SurveyMonkey, which is backed by Bain Capital Venture Partners, have agreed to buy MarketTools. Financial terms weren’t announced. Terms of the deal call for TPG to buy MarketTools and transfer its Zoomerang, ZoomPanel and TrueSample businesses to SurveyMonkey in exchange for a minority stake in SurveyMonkey. TPG will retain the Research Solutions and CustomerSat businesses.
is in talks with Japan’s Takefuji about a possible injection of funds, two people with direct knowledge of the matter said, Reuters reported. A Japanese court in October approved a rehabilitation plan for Takefuji that allowed A&P Financial to invest in it, but the Korean firm has so far failed to inject any money, Reuters reported, citing sources.
Ventizz Capital Partners
portfolio company exceet Group SE, a provider of embedded intelligent electronics and card-based security technology, is to acquire Inplastor GmbH, Vienna, Austria-based service provider of card-based loyalty and ID security solutions. Ventizz Capital Fund III first backed exceet Group in 2006.