Advanced Lighting Technologies Inc., a lighting manufacturer owned by Saratoga Partners, has acquired Auer Lighting GmbH, the German lighting components business of Schott AG. No financial terms were disclosed. Auer Lighting has annual revenue of around $74 million and employs 500 people.
AllHeart, a Camarillo, Calif.-based e-commerce site for medical uniform and other healthcare apparel and items, has acquired Jasco Uniform, a Vernon Hills, Ill.-based direct mail marketer of uniform apparel, diagnostic instruments and other healthcare products. No financial terms were disclosed. AllHeart is a portfolio company of Friend Skoler & Co. Avaya Inc. (NYSE: AV) shareholders have approved a $17.50 per share buyout offer from Silver Lake Partners and TPG. The total deal would be valued at around $8.2 billion and is expected to close by the end of October.
Bain Capital and Huawei Technologies Co. have agreed to acquire telecom equipment company 3Com Corp. (Nasdaq: COMS) for approximately $2.2 billion. Bain Capital would take the majority stake, with Chinese networking company Huawei acquiring a minority position. Under terms of the transaction, 3Com stockholders would receive $5.30 per share. Leveraged finance commitments were provided by Citibank Hong Kong, Branch Citigroup Global Markets Asia, UBS AG Singapore Bank, The Hong Kong and Shanghai Banking Corp., ABN Amro and Bank of China (Hong Kong) Ltd. 3Com is being advised by Goldman Sachs, while the buyers were advised by Citigroup Global Markets and UBS Securities.
Bausch & Lomb (NYSE: BOL) shareholders have approved a $3.67 billion buyout by Warburg Pincus, in which they would receive $65 per share.
BCE Inc. shareholders have approved a $48.5 billion buyout by the Ontario Teachers’ Pension Plan, Providence Equity Partners and Madison Dearborn Partners. The deal is expected to close in Q1 2008, pending regulatory approvals.
Borders Group Inc. (NYSE: BGP) has agreed to sell its UK and Ireland stores to Risk Capital Partners for up to $40 million. The deal includes a $20 million up-front payment and $20 million in possible earn-outs. It includes 71 total stores.
Brockway Moran & Partners has recapitalized Pacific Crane Maintenance Co., a Long Beach, Calif.-based provider of on-dock equipment maintenance and repair services. No financial terms were disclosed for the deal, which was done in partnership with Pacific Crane management.
Caxton-Iseman Capital has acquired Conney Safety Products LLC from K+K America Corp. for approximately $48 million. Founded in 1946, Conney is a Madison, Wis.-based marketer of personal protective equipment, safety equipment and first aid supplies. GMAC Commercial Finance and BlackRock Kelso Capital provided financing for the transaction, while K+K America was advised by Robert W. Baird & Co.
Clear Channel Communications Inc. (NYSE: CCU) stockholders overwhelmingly approved a $39.20 per share buyout offer from Bain Capital and Thomas H. Lee Partners. The total deal is valued at approximately $27.45 billion.
CM Equity Partners is backing a new acquisition platform called Laguna Ventures, which will buy companies that serve the U.S. intelligence apparatus and U.S. Department of Defense. No financial terms were disclosed for the deal, which also includes CM’s commitment to assist in acquisition structuring and financing. McLean, Va.-based Laguna Ventures is led by William Senich, a former partner with IBM’s Global Business Services National Intelligence practice.
Creo Capital Partners has acquired Filet of Chicken, a Forest Park, Ga.-based processor and distributor of chicken products. No financial terms were disclosed for the deal, which will not result in any significant management or operational changes. Wachovia Capital Finance and Fifth Street Capital provided leveraged financing.
Coates Hire Ltd. (AX: COA), an Australian equipment rental company, has accepted a Au$1.7 billion buyout offer from The Carlyle Group and National Hire Group Ltd. (AX: NHR). The Au$6.59 per share offer represents Carlyle and National Hire’s third bid for Coates, and would rise to Au$6.70 per share once a final dividend is included.
CVI Melles Griot, a portfolio company of Norwest Equity Partners, has acquired Coherent Imaging Optics Ltd., a maker of optical components critical to the performance of thermal imaging systems. No financial terms were disclosed.
Deb Shops Inc. (Nasdaq: DEBS) shareholders will vote on October 16, on their pending $27.25 per share buyout by Lee Equity Partners. The deal’s total equity value is approximately $395 million. Deb is a Philadelphia-based retailer of apparel, shoes and accessories for juniors in both regular and plus sizes.
EQT Partners has sold deSter Holding BV, an Amsterdam-based provider of in-flight hospitality items, to Gate Gourmet for an undisclosed amount. Merrill Lynch bought Gate Gourmet earlier this year from TPG.
Fox Paine & Co. has completed its acquisition of Icicle Seafoods Inc., a Seattle-based seafood harvesting and processing company with processing facilities throughout Alaska. No financial terms were disclosed.
Goodrich Inc. (NYSE: GR) has agreed to sell its airframe heavy maintenance business, Goodrich Aviation Technical Services, to Macquarie Bank Ltd. No financial terms were disclosed. ATS has over 1,200 employees at its 950,000- facility in Everett, Washington.
Gores Group has completed its acquisition of CompuDyne Corp. (Nasdaq: CDCY), an Annapolis, Md.-based maker of security products like blast-resistant windows and doors for federal buildings. The deal was valued at approximately $81 million, including $59 million in equity, $42 million of assumed debt and the subtraction of $20 million in CompuDyne cash on hand. CompuyDyne shareholders received $7 per share, while Clearlake Capital Group provided both equity and debt to help finance the deal.
Great Hill Partners has agreed to acquire InteleNet Communications Inc. InteleNet is an Irvine, Calif.–based provider of data center and Web hosting services.
Harvest Partners has agreed to sell U.S. Silica Co. to an affiliate of Harbinger Capital Partners. No financial terms were disclosed. U.S. Silica is a Berkeley Springs, West Va.-based maker of industrial silica sand.
Hellman & Friedman has completed its $1.7 billion acquisition of Catalina Marketing Corp., with Catalina delisting from the NYSE. Catalina stockholders received $32.50 per share, and Bear Stearns and Morgan Stanley provided leveraged financing. Catalina was advised by Goldman Sachs.
ISH Inc., a Fairfield, Conn.-based provider of professional services for healthcare, has acquired Paradigm Business Solutions, a provider of strategic consulting services and of Lawson Software application and technical solutions. No financial terms were disclosed. ISH is a portfolio company of Summit Partners.
Kinder Morgan Energy Partners has bought the assets of Marine Terminals Inc. for approximately $100 million.Kinder Morgan is owned by GS Capital Partners, the Carlyle Group, AIG and Riverstone Holdings.
Kinderhook Industries has agreed to sponsor a buyout of Blitz USA, a Miami, Okla.-based manufacturer of plastic gas cans. No financial terms were disclosed for the deal, which also includes participation from current Blitz president Rocky Flick. Blitz owner Cy Elmburg will retire following the sale’s completion.
Kohlberg & Co. has agreed to acquire Converting Inc., a Clintonville, Wisc.-based manufacturer of tabletop disposables and party goods. No financial terms were disclosed. The deal is expected to close within the next 45 days, pending certain closing conditions like consummation of Kohlberg’s parallel acquisition of Hoffmaster from Solo Cup Co.
KKR has completed its $26 billion acquisition of payment processing company First Data Corp. First Data stockholders received $34 per share. Michael Capellas has been named First Data’s new chairman and CEO, replacing Ric Duques. Capellas was previously CEO of MCI, president of Hewlett-Packard Co. and chairman and CEO of Compaq Computer Corp.
Kurz-Kasch Inc., a Dayton, Ohio–based maker of electromagnetic and engineered composite components, has acquired the assets of MacLean Molded Components from MacLean Vehicle Systems LLC. No financial terms were disclosed. Monomoy Capital Partners acquired Kurz-Kasch from the Dover Corp. in February.
Leonard Green & Partners has acquired Scitor Corp., a Herndon, Va.-based provider of engineering and management consulting services to U.S. defense and intelligence agencies. No financial terms were disclosed, although reports put the price in excess of $500 million, including an oversubscribed $187.5 million senior note tranche.
OMERS Capital Partners has completed its acquisition of the golf retailer Golf Town LP, which had traded as a Canadian income fund. The deal was valued at approximately C$240 million.
Onex Corp. has agreed to acquire Husky Injection Molding Systems Ltd. (TSX: HKY) for C$8.18 per share, which gives the deal a total equity value of approximately C$960 million. Husky is a supplier of injection molding equipment and services to the plastics industry.
NewPage, a coated paper company owned by Cerberus Capital Management, has agreed to buy the North American paper mills operation of Norwegian forestry firm Stora Enso Oyj (NYSE: SEO). The deal is valued at $2.07 billion, including $1.5 billion in cash, with Stora also receiving a 19.9 percent stake in the NewPage.
PHH Corp. (NYSE: PHH) shareholders have approved a deal whereby the company would be taken private, and split in two. Under terms of the deal, The Blackstone Group would acquire PHH Mortgage, which originates private-label mortgages for groups like Merrill Lynch, while GE Capital Solutions would acquire PHH Arval, which provides fleet management services in North America. PHH stockholders would receive $31.50 per share, which puts the total deal value at approximately $1.69 billion. PHH is based in Mt. Laurel, N.J., and spun off from Cendant Corp. in early 2005.
Reverse Logistics GmbH, a portfolio company of Monitor Clipper Partners, has acquired Dutch logistics company Cycleon Strategic. No financial terms were disclosed.
The Riverside Company has acquired UltraVolt Inc. and Galluppi Associates Inc. UltraVolt manufactures and distributes high-voltage power supplies for complex products such as medical equipment. Galluppi Associates provides systems integration and engineering services around UltraVolt’s products, adding customization. Both companies are located in Ronkonkoma, New York. No financial terms were disclosed.
Silver Lake Partners and ValueAct Capital have terminated their $3 billion acquisition of Acxiom Corp. (Nasdaq: ACXM). The original agreement included a $110 million termination fee, but the two sides agreed to reduce it to just $65 million. Acxiom is a Little Rock, Ark.-based provider of customer and information management solutions to large companies.
Solera Capital has acquired a majority interest in Calypso Christiane Celle, a multi-brand retailer and designer of women’s and children’s lifestyle apparel, accessories and luxury home goods. No financial terms were disclosed. Company co-founders Christiane Celle and Antoine Verglas will retain “significant ownership stakes,” with Celle staying aboard as CEO and head of design. Elizabeth Rose-Poleway will join as chief operating officer. She previously was a senior executive with LVMH, Liz Claiborne and Coach.
The Step2 Company LLC, a Streetsboro, Ore.-based maker of toys for toddlers, has acquired Infantino LLC, a San Diego-based maker of infant toys and accessories. No financial terms were disclosed. Step2 is majority owned by Liberty Partners.
Sun Capital Partners has offered to buy Kellwood Co. (NYSE: KWD) for $21 per share in cash. The unsolicited bid would value Kellwood at approximately $544 million, and is subject to conditions such as the completion of due diligence. Kellwood is a marketer of apparel and consumer soft goods.
Susser Holdings Corp. (Nasdaq: SUSS) has agreed to acquire the parent company of Town & Country Food Stores, a San Angelo, Texas-based convenience store operator in West Texas and Eastern New Mexico. The deal is valued at approximately $361 million. Wellspring Capital holds nearly a 40 percent stake in Susser as of April.
Syrgis Performance Products, a halogen chemistry company backed by Edgewater Capital Partners, has acquired the organic peroxides business of Norac Inc. No financial terms were disclosed, except that the transaction is expected to add more than $50 million in annual revenue to Syrgis.
TMP Worldwide Advertising & Communications LLC, a New York–based recruitment advertising agency, has acquired People in Business Ltd., a UK-based employer brand consultancy. No financial terms were disclosed. Veronis Suhler Stevenson is TMP’s majority owner.
Thule Inc., a manufacturer of car rack products, has acquired United Welding Services Inc., a manufacturer of truck toolboxes and other pick-up truck accessories. No financial terms were disclosed. Thule is a portfolio company of Nordic Capital. United Welding was advised on the deal by Citi Capital Strategies.
XOJET, an Atlanta-based private aviation company, has raised $143 million in private equity and debt financing from TPG and Lehman Brothers GPS. It also has secured an additional $220 million in aircraft lease financing from Lehman Brothers GPS. It was advised by Morgan Stanley on the deal, and has added three new board members: David Bonderman, chairman and CEO of TPG; David Siegel, chairman and CEO of Gate Gourmet; and William McGlashan Jr., partner and managing director of TPG Growth.
United Rentals Inc. (NYSE: URI) said that the total price for its pending buyout by Cerberus Capital Management has grown from $6.6 billion to $7 billion, according to a proxy statement. The $34.50 per share price remains intact. When the deal was first announced back in July, United Rentals said that it would include $2.6 billion in assumed debt.
Universal American Financial Corp. (Nasdaq: UHCO) has completed its acquisition of pharmacy benefits manager MemberHealth Inc., for approximately $630 million. The deal is being backed by a $350 million PIPE investment in UAF by Lee Equity Partners, Perry Capital, Union Square Partners Management (f.k.a. Capital Z) and Welsh, Carson, Anderson & Stowe. The PIPE was valued at $20 per share.
Vector Capital has agreed to acquire Printronix Inc. (Nasdaq: PTNX), an Irvine, Calif.-based manufacturer of integrated enterprise printing solutions for the supply chain. The total deal is valued at $108 million, with Printronix stockholders to receive $16 per share (18.3 percent premium). Printronix CEO Robert Kleist and other members of senior management are expected to hold a 9.9 percent ownership position, post-transaction. Printronix was advised by Houlihan Lokey Howard & Zukin Capital.
W. P. Carey & Co. and Watermark Capital Partners have acquired the Doubletree Hotel Memphis Downtown, which includes 280 guest units and a T.G.I. Friday’s restaurant. The joint venture has retained Prism Hospitality as property manager. No financial terms were disclosed.