Active Interest Media Inc., the parent company of Backpacker magazine and Yoga Journal, has acquired SNews, a provider of online trade news and information for outdoor and fitness retailers. No financial terms were disclosed. Active Interest is owned by Wind Point Partners.
Allied Capital has acquired CitiPostal Inc., a Brooklyn, N.Y.-based document storage and management company. The deal was valued at $79.5 million, with Allied providing both the debt and equity. Allied also invested $20.8 million of subordinated notes in 10th Street LLC, an affiliated entity that owns the real estate leased by CitiPostal.
American Industrial Partners has acquired the Brooks Instrument division of Emerson Electric Company. No financial terms were disclosed. Brooks is a Hatfield, Pa.-based maker of flow measurement and control devices to the low flow application market. It has manufacturing facilities in Hungary, France, the Netherlands and Japan.
Apollo Management has completed its $1 billion equity investment in the parent company of Norwegian Cruise Line, in exchange for a 50 percent ownership stake. The investment was in the form of common stock alongside NCL’s sole shareholder, Star Cruises.
Argos Soditic has sponsored a management buyout of ORSYP, a France–based provider of enterprise job scheduling solutions and IT Services. No financial terms were disclosed.
Audax Group has acquired Bridgepoint Tank Trucks Inc., a Bridgeport, Texas-based provider of fluid transport and disposal services and equipment rentals for oilfield production and drilling applications in the Barnett Shale. No financial terms were disclosed. Wells Fargo Foothill and Regiment Capital Advisors provided leveraged financing.
Audax Group has acquired a controlling interest in Reed Group Ltd., a Westminster, Colo.-based provider of outsourced absence and clinical case management services that assist in the reduction of disability and absence costs for employers. No financial terms were disclosed for the deal, which included participation by company management. Allied Capital provided one-stop financing, while Houlihan Lokey advised Reed Group on the sale.
Audax Group has acquired Northern Digital, a Waterloo, Ontario-based maker ofoptical and electromagnetic technology for image-guided surgical, industrial test, measurement and research applications. No financial terms were disclosed. BMO Capital Corp. advised NDI on the deal, and provided acquisition financing.
Avista Capital Partners has completed its $525 million acquisition of Bristol-Myers Squibb’s medical imaging unit. The Billerica, Mass.-based unit provides medical imaging products primarily focused on cardiovascular diagnostic imaging to nuclear physicians, cardiologists, radiologists, internal medicine physicians, IDNs/GPOs and technologists/sonographers working in hospitals and outpatient clinics.
Bain Capital and Thomas H. Lee Partners have received FCC approval for their planned $19.5 billion buyout of Clear Channel Communications.
The Blackstone Group and General Electric have paid a $50 million breakup fee to PHH Corp., after a proposed $1.69 billion buyout deal fell through earlier this month.
The Carlyle Group is in talks to acquire the government contracting business of Booz Allen Hamilton, according to multiple reports. The deal could be worth up to $2 billion, with other buyout firms waiting in the wings.
Cerberus Capital Management has completed its acquisition of seven television stations from CBS Corp. (NYSE: CBS) for $185 million. The deal includes stations in Austin, Salt Lake City, Providence and West Palm Beach, and is subject to FCC approval. Cerberus was advised on the deal by CobbCorp and Wachovia Capital Markets.
CHB Capital Partners of Denver has acquired Newline Products Inc., a Plano, Texas-based maker of classroom products like chalkboards and marker boards, according to LBO Wire. No financial terms were disclosed. The report also said CHB soon plans to launch its fourth fund with a target of between $125 million and $150 million.
Chicago Growth Partners has sponsored a recapitalization of Benetech, a Montgomery, Ill.–based provider of dust management and safety solutions used by the coal-fired utility industry. Golub Capital provided $36 million in debt financing, but full financial details were not disclosed. Golub also co-invested in the equity tranche.
Cognetas has agreed to acquire Gebrüder Gienanth-Eisenberg GmbH, an Eisenberg, Germany-based maker of engine blocks and compacted graphite iron products for use in clutch and transmission systems in the automotive industry. The seller is family holding company Fink Holdings, and the deal is expected to close early this year, pending regulatory approval. No financial terms were disclosed.
Crystal Ridge Partners has acquired Cord Crafts Inc., a Wharton, N.J.-based provider of artificial flowers and plant arrangements. The deal included $13 million in senior financing from PNC Financial Services.
Deutsche Bank and JPMorgan have each taken minority positions in BATS Trading Inc., a Kansas City-based electronic exchange. No financial terms were disclosed for the deals, which were done separately. BATS last year raised $45 million in second-round funding from Citigroup, after having originally launched in 2005 with around $40 million from Credit Suisse, Getco, Lehman Brothers, Lime Brokerage, Merrill Lynch, Morgan Stanley and Wedbush.
DLJ Merchant Banking Partners has acquired a control stake in Den-Mat Holdings LLC, a Santa Maria, Calif.–based maker of minimally invasive dental products for cosmetic and professional dentists. No financial terms were disclosed for the deal, which closed in December.
Emerging Capital Partners has invested $35 million into Ocean & Oil Investments Ltd., a Nigerian holding company whose main asset is a 32 percent equity stake in Oando PLC, a listed Nigerian indigenous oil and gas company.
Engauge, a marketing agency owned by Halyard Capital, has acquired StreamRight, a Columbus, Ohio-based developer of Web applications for marketers. No financial terms were disclosed. The seller was Rockaway Partners.
Falconhead Capital has acquired three San Diego-based companies in the endurance sport event and publishing markets: Elite Racing Inc., La Jolla Holding Group LLC (Triathlete Magazine) and Competitor Publishing Inc. The companies will be combined to form a platform company known as Competitor Group Inc. No financial terms were disclosed.
Founders Equity has acquired both The Pay-O-Matic Corp. and C.L.B. Check Cashing Inc. The firm also has merged the two companies into a new entity named FEF Cash Inc., which will provide check-cashing and other community-based financial services in New York City and Long Island. No financial terms were disclosed.
Freestone Capital Management, a Seattle-based wealth and asset management firm, has received a $40 million private equity infusion from The Sienna Group.
Genstar Capital has formed Confie Seguros, an acquisition platform focused on insurance brokerages, primarily focused on the Hispanic consumer. It has $75 million in committed capital from Genstar, platform management and a bank facility. The future capacity is expected to exceed $200 million. In related news, Confie Seguros has made its first acquisition: Westline Corp., an insurance brokerage firm serving California.
Gourmet Boutique LLC, a Jamaica, N.Y.-based manufacturer of prepared foods, has raised $8 million from Key Principal Partners.
Gridiron Capital has acquired Electronic Systems Protection Inc., a Zebulon, N.C.–based provider of power filtration and power protection technology. Company management also participated. No financial terms were disclosed.
Harrah’s Entertainment Inc. said that its buyout by Apollo Management and TPG will close on January 28. It would be the largest-ever buyout of a casino company.
Hewitt Associates Inc. (NYSE: HEW) has agreed to sell its Cyborg unit to Vista Equity Partners. No financial terms were disclosed. Cyborg is a licensed payroll and human resources software services organization.
Key Bridge Partners has acquired Magic Wand Inc. No financial terms were disclosed. Magic Wand is a Bristol, Va.-based seller of professional carwash equipment, like spraying systems, vacuums and carwash bays.
KRG Capital Partners has acquired Tri-County Petroleum Inc., a Riddlesburg, Penn.–based specialty distributor of industrial and commercial lubricants. No financial terms were disclosed. KRG will bridge the entire transaction with its fund capital, and will complete the leveraged financing post-close.
Language Line Services, a portfolio company of ABRY Partners, has acquired Teleinterpreters, a provider of language services to “limited-English speakers” and the organizations that serve them. No financial terms were disclosed.
Legg Mason Inc. (NYSE: LM) has sold $1.25 billion of convertible notes to Kohlberg Kravis Roberts & Co. The deal is expected to close by Feb. 5. The 2.5 percent notes are convertible at $88 per share, and expire in 2015. Legg Mason stock closed today at $72.36 per share.
London Bay Capital has acquired Selling Source LLC, a La Vegas–based Internet marketing company focused on the specialty finance sector. The deal was valued at more than $130 million, with Plainfield Asset Management providing both leveraged financing and an equity co-investment. Thomas Weisel Partners advised London Bay.
LNK Partners has agreed to sponsor a recapitalization of sandwich shop chain Au Bon Pain, in partnership with company management. The sponsors will invest more than $100 million in equity for a majority position, while leveraged financing has been committed by CapitalSource and Intermediate Capital Group. The Compass Group, which owned Au Bon Pain from 2002 to 2005, will retain an equity position, while subsequent buyer PNC Mezzanine Capital will sell its interest.
Marlin Equity Partners has acquired scrapbooking supply maker Chatterbox International, and merged it with existing portfolio company Ultra*Pro. No financial terms were disclosed.
Marketwire, a portfolio company of OMERS Capital Partners, has agreed to acquire International Media Services Cos., a Miami-based provider of newswire services to emerging markets in Asia and Latin America. No financial terms were disclosed.
The Mayline Group, a Sheboygan, Wis.-based office furniture maker, has acquired the AVA Furniture Group, a San Jose, Calif.-based maker of transitional and contemporary office furniture. No financial terms were disclosed. Mayline was acquired last May by Baird Capital Partners, company management, BMO Mezzanine Fund and Hexagon Investment LLC.
Oak Hill Capital has agreed to invest $150 million into Oversee.net, an provider of online marketing solutions. The deal is expected to close later this month, and does not represent a control or majority acquisition.
Ocwen Financial Corp. (NYSE:OCN), a mortgage servicing firm, has received a $7 per share buyout offer from a group that includes Oaktree Capital Partners, Angelo Gordon & Co. and Ocwen chairman and CEO William Erbey. The bid would value Ocwen’s equity at approximately $438 million. Ocwen’s board has formed a special committee to evaluate the offer, and has retained Evercore Group as an advisor.
Pennington Allen Capital Partners has acquired a majority stake in Knox Laboratories LLC, a Tulsa, Okla.-based drug testing company. No financial terms were disclosed.
Phoenix Footwear Group Inc. (Amex: PXG) has sold its Altama military footwear division to Tactical Holdings Inc., a portfolio company of Golden Gate Capital. The deal is valued at approximately $15 million, and includes a short-term transition services agreement.
Prospect Partners has sponsored a recapitalization of Gold Star Foods Inc., a Los Angeles-based foodservice distributor for public school districts. No financial terms were disclosed.
Regency Energy Partners LP (Nasdaq: RGNC) has completed its acquisition of CDM Resource Partners LP, a Houston, Texas-based provider of turnkey natural gas contract compression services. The deal was valued at $655 million. CDM had been owned by management and Carlyle/Riverstone Global Energy & Power Fund II.
Segulah has completed a $317 million recap of portfolio company Dacke PMC, a provider of hydraulic solutions to the Nordic region. HSH Nordbank, Nordea, FIH, Nykredit and Straumur provided senior debt financing, while HSH and Straumur together provided second-lien financing.
S&P lowered its ratings, including the corporate credit rating, on Buffets Holdings Inc. to ‘D’ from ‘CCC’ after the company failed to pay interest on 12.5 percent senior notes due in 2014. Buffets is owned by Caxton-Iseman Capital. S&P said it does not expect it Buffets to make the payment given the company’s weak liquidity and operating trends, which likely means a bankruptcy filing.
Sun Capital Partners has completed its $80 million acquisition of Smokey Bones Barbeque & Grill from Darden Restaurants Inc. (NYSE: DRI). Smokey Bones is a restaurant chain with 73 locations.
SunGard Data Systems has acquired the assets of Financial Technology Integrators LLC, a provider of Web-based portfolio management, pre-trade compliance, regulatory compliance, performance reporting and modeling systems. No financial terms were disclosed. SunGard was acquired in 2005 by seven LBO firms.
The Swett & Crawford Group Inc., an Atlanta-based wholesale insurance intermediary, has acquired Risk Reducers LLC, a Littlerock, Ark.-based wholesale insurance broker specializing in workers’ compensation. No financial terms were disclosed. Swett & Crawford is owned by HM Capital Partners, Banc of America Capital Investors and company employees.
Thoma Cressey Bravo has agreed to acquire Manatron Inc. (Nasdaq: MANA), a Portage, Mich.–based provider of property tax solutions for state and local governments. The total deal is valued at approximately $66 million, with Manatron stockholders to receive $12 per share (36.4 percent premium to the previous closing price). Wells Fargo Foothill has committed leveraged financing.
Thomas H. Lee Partners is in talks to acquire a 65 percent stake in MoneyGram International Inc. (NYSE: MGI), a provider of global payment services. The recap would include between $750 million and $850 million of equity from THL, plus between $550 million and $750 million in new debt facilities from third parties.
Vector Capital has completed its acquisition of Printronix Inc. (Nasdaq: PTNX), an Irvine, Calif.-based manufacturer of integrated enterprise printing solutions for the supply chain. The total deal was valued at $109 million, with Printronix stockholders receiving $16 per share. Printronix CEO Robert Kleist and other members of senior management hold a 9.9 percent ownership position, post-transaction. Printronix was advised by Houlihan Lokey Howard & Zukin Capital.
Warburg Pincus has agreed to acquire LifeCore Biomedical Inc. (Nasdaq: LCBM), a Chaska, Minn.-based maker of dental and medical devices. The deal is valued at approximately $239 million, with LifeCore stockholders to receive $17 per share (32.4 percent premium to the previous closing price).