3i Group has agreed to invest $44.4 million in Indian infrastructure construction company Navayuga Engineering Company Ltd., in exchange for a minority ownership position.
Active Interest Media Inc., an El Segundo, Calif.-based media company, has acquired Yachts magazine, a Ft. Lauderdale, Fla.-based luxury yachting publication. No financial terms were disclosed. Active Interest Media was formed in 2003 by Wind Point Partners.
Altor Equity Partners has bought Norwegian clothing company Helly Hansen ASA from Investcorp for an undisclosed amount.
Apax Partners France has agreed to acquire Telenor Satellite Services from Telenor (Nasdaq: TELN) for $400 million in cash. Telenor Satellite Services offers communication solutions via satellite to land, air and sea—but does not own any actual satellites itself.
Apollo Management, Madison Dearborn Partners and Providence Equity have teamed up to make a bid for newspaper publisher Tribune Co. (NYSE: TRB), according to The Wall Street Journal. A second group includes Thomas H. Lee Partners and Texas Pacific Group, while The Carlyle Group also is interested.
Apprise Media and Prism Business Media are both bidding for business magazine publisher Penton Media, according to the NY Post. The sale could fetch up to $500 million. Apprise is backed by Spectrum Equity Investors.
Aptuit Inc., a Greenwich, Conn.-based provider of streamlining and support services for drug developers, has agreed to acquire SSCI Inc., a West Lafayette, Ind.–based solid state chemistry company. No financial terms were disclosed for the deal, which is expected to close within 30 days. Aptuit is backed by Welsh, Carson, Anderson & Stowe and Temasek Holdings.
Austin Ventures has acquired and recapped All Star Directories, a Seattle–based publisher of online education directories. No financial terms were disclosed. Austin said that the deal resulted from a partnership with entrepreneur-in-residence Elisabeth DeMarse (former BankRate CEO), while All Star Directories was advised by media banker DeSilva + Phillips.
Bayside Capital announced that it invested in ServiceCraft Logistics, a Buena Park, Calif.-based logistics services provider. The company says it plans to use the funding to broaden its service offerings.
The Blackstone Group reportedly has held buyout talks with listed French IT services company Atos Origin, but has not yet made a bid. City AM, a London newspaper, reports that the deal could be worth around €3.6 billion.
Bloomberg LP is not for sale—at least not now. The New York Times reports that the financial content company has received approaches from such potential buyers as The Blackstone Group, KKR, McGraw-Hill and Thomson, but that Michael Bloomberg is not currently interested in selling. A sale could generate around $12 billion.
Brown Jordan International Inc., a Pompano Beach, Fla.-based provider of luxury indoor and outdoor furniture, has completed a financial restructuring. The deal includes a $50 million equity infusion, a $200 million credit facility from LaSalle Bank and the exchange of nearly all of the company’s $105 million worth of senior subordinated notes for cash or equity. Brown Jordan is a portfolio company of Trivest Partners.
Caltius Equity Partners of Los Angeles has acquired a controlling interest in Starpoint Health Inc., an Irvine, Calif.–based manager of multi-specialty outpatient surgery centers throughout Southern California. No financial terms were disclosed for the deal, which was done in partnership with company management.
Candover has agreed to acquire Swedish bed manufacturer Hilding Anders for approximately €1 billion. Texas Pacific Group also had been interested in the company.
CBRL Group Inc. (Nasdaq: CBRL) has agreed to sell the Logan’s Roadhouse Inc. restaurant chain to Bruckmann, Rosser, Sherrill & Co. and Canyon Capital Advisors for $486 million. Wachovia advised CBRL on the deal. Logan’s Roadhouse had been in registration for a $350 million IPO.
CDC Capital Investissements has offered to buy Belgian fast-food company Quick Restaurants SA for €37.8 per share, or €730 million.
Clear Channel Communications (NYSE: CCU) has retained Goldman Sachs to evaluate “various strategic alternatives to enhance shareholder value.” One such alternative could be an $18.5 billion buyout, with interested firms including Blackstone, KKR, Providence Equity Partners and Thomas H. Lee Partners.
CMS Cos. and Quad Partners have acquired Beckfield College, a Florence, Ky.-based for-profit, post-secondary college. No financial terms were disclosed.
Collins Industries Inc. (OTC BB: CNSI) shareholders have approved a $12.5 per share buyout offer from Steel Partners and American Industrial Partners. The total transaction is valued at approximately $110 million.
Countrywide PLC, a U.K. property and financial services company, has accepted a £900 million management buyout offer sponsored by 3i Group.
Doughty Hanson has agreed to invest around €100 million for a majority stake in Zobele, a Trento, Italy-based manufacturer of air freshener and insecticide products. Family shareholders will retain a significant stake. Unicredit Group and Interbanca are providing leverage.
Dyad Partners has completed its acquisition of Thermex-Thermatron Inc., a Louisville, Ky.-based manufacturer of industrial microwave generators/ovens and RF heating equipment. No financial terms were disclosed. TTI was advised on the deal by Matrix Capital Markets Group.
ECI Partners has sold UK-based holiday company Kirker Travel to Kuoni for an undisclosed amount. ECI had acquired Kirker in a 2002 management buyout.
Energy Investor Funds and John Hancock Life Insurance Co. have acquired Berkshire Power Company LLC, a 272-megawatt natural gas fired power plant located in Agawam, Massachusetts. No financial terms were disclosed.
European Capital has acquired Whitworths Ltd., a UK-based supplier of dried fruit and nut-based products. This is considered a “one-stop buyout,” with European Capital providing senior facilities, subordinated debt, equity and a revolving credit facility.
Fortress Investment Group has completed its public-to-private acquisition of Canadian resort operator Intrawest Corp. (NYSE: IDR) for $35 per share. The total deal was valued at $2.8 billion (including assumed debt).
Freescale Semiconductor Inc. said that six class-action petitions have been filed against it and its directors, in reference to the pending $17.6 billion buyout being led by The Blackstone Group. The petitions allege that Freescale breached fiduciary duty by not taking the proper steps to maximize shareholder value. Other members of the buying consortium include The Carlyle Group, Perima and Texas Pacific Group.
Golden Gate Capital has acquired Haband Inc., an Oakland, N.J.-based direct mail and online retailer for the 50+ baby boomer market. No financial terms were disclosed.
Hard Rock Café reportedly will receive second-round bids from such groups as Permira, TDR Capital, Apollo Management and Pilot Group (MTV co-founder Bob Pittman’s firm). Hard Rock is owned by UK-based Rank Group, and is believed to be worth nearly $1 billion.
HCA shareholders will still be allowed to vote on a proposed $21 billion buyout on Nov. 16, after a Tennessee judge rules against six shareholder groups that had been seeking a delay. The groups had alleged that the offer is unfairly low, but the judge ruled that they had failed to prove their case. One final hope for the plaintiffs will come on Nov. 13, during a motion for an injunction.
Hettinger Welding Inc., a Gillette, Wyoming-based provider of welding and facilities construction services for customers building natural gas infrastructure in the Rocky Mountain region, has completed a recapitalization sponsored by Clearview Capital. No financial terms were disclosed, except that Hettinger management will retain a “substantial equity stake.”
Hispania Capital Partners of Chicago has acquired a “substantial interest” in NEPS LLC, a Salem, N.H.-based provider of enterprise content management and print management solutions. No financial terms were disclosed.
InterMedia Partners of New York has agreed to buy Puerto Rican television station WAPA-TV from LIN TV Corp. (NYSE: TVL). The deal is valued at $130 million in cash, and also includes the acquisition of WJPX-TV (programmed as MTV in Puerto Rico) and WAPA America (cable/satellite channel targeting Hispanics in mainland U.S.).
John Maneely Co., a portfolio company of The Carlyle Group, has agreed to acquire Atlas Tube Inc. No financial terms were disclosed. The combined company will become the largest North American manufacturer of steel tubing, with annual sales in excess of $2 billion.
Kimberly Clark de Mexico, a unit of Kimberly Clark (NYSE: KMB), has sold a 60% interest in its industrial products division (PIMSA) to Eton Park Capital Management and Impulso de Desarollos Estrategicos SA. The deal is valued at $434 million, with KCM retaining a 40% equity interest.
KKR has withdrawn its Au$18.2 billion buyout offer for Australian retailer Coles Myer, after the bid was rejected by Coles Myer’s board. The KKR consortium had included Bain Capital, Carlyle Group, CVC Capital Partners, TPG and Pacific Equity Partners. It would have been the largest-ever leveraged buyout of an Australian company.
KKR will buy 50% of Tarkett , a French flooring company for approximately $1.8 billion (€1.4 billion).
Leonard Green & Partners is nearing a deal to buy the David’s Bridal retail chain from Federated Department Stores Inc. (NYSE: FD), according to Reuters. The deal is expected to be for between $600 million and $1 billion.
LLR Partners announced that it is part of the group that has acquired Franklin Mint Co., a Philadelphia-based collectibles company. The deal was led by Steve Sisskind and Moshe Malamud, who run coin and stamp marketing company Morgan Mint Inc.
LLR Partners and Greenhill Capital Partners have co-sponsored a $56.2 million recapitalization of First Equity Card Corp., a Northy Wales, Pa.–based credit card issuer focused on the small business market. Citigroup Global Markets Realty Corp. provided debt financing and participated in the equity tranche.
Madison Dearborn Partners has agreed to acquire The Yankee Candle Company Inc. (NYSE: YCC) for $34.75 per share. The total deal is valued at around $1.7 billion, including $300 million in assumed debt.
MBK Partners has agreed to acquire a 60% stake in Taiwanese cable television company China Network Systems for approximately $932 million.
MDSI Mobile Data Solutions Inc., a Richmond, British Columbia–based provider of enterprise mobile workforce management software, has agreed to acquire Indus International Inc. (Nasdaq: IINT), an Atlanta–based provider of service delivery management solutions. The all-cash transaction is valued at around $240 million, with Indus stockholders receiving $3.85 per share in cash. MDSI is a portfolio company of Vista Equity Partners, while Credit Suisse is advising Indus on the deal.
Neiman Marcus Group has acquired the founders’ equity of Kate Spade, which should help facilitate a stalled sale of the brand, according to the NY Post. Nieman Marcus already owned a majority stake, and was acquired last year in a $5.1 billion public-to-private buyout by Texas Pacific Group and Warburg Pincus.
Pacific Equity Partners has offered to buy listed Australian travel agent Flight Centre for Au$17.20 per share. The deal would value Flight Centre at Au$1.6 billion.
Permira Advisors was approved by the European Union to buy most of Unilever ‘s frozen food business.
Production Services Associates Inc., a Deerfield, Ill.–based provider of production services for the direct mail and plastic card industries, has completed a recapitalization sponsored by Norwest Equity Partners. No financial terms were disclosed for the deal, which included participation by existing management shareholders.
Promerica Bank, a new commercial bank in California focused on the Hispanic market, has agreed to receive an undisclosed amount of private equity funding from Palladium Equity Partners.
Providence Equity Partners and TA Associates have acquired minority stakes in Idea Cellular Ltd., a provider of wireless communications services in India. Each deal was transacted separately. No financial terms were disclosed, but a source close to Providence says that it paid $400 million for a 15% position. TA would not disclose specific numbers, except that it acquired a slightly smaller stake than did Providence. Idea Cellular’s largest shareholder is the Aditya Birla Group.
Publishing & Broadcasting Ltd., an Australian gaming and media company, has agreed to sell half of its media assets to CVC Asia Pacific for Au$4.54 billion. The announcement came shortly after the Australian parliament approved relaxed media ownership rules. CVC beat out rival bidders KKR and Newbridge.
RBC Capital Markets has agreed to acquire the broker-dealer business of Carlin Financial Group. No financial terms were disclosed for the deal, which is expected to close in Q1 2007. Carlin was advised on the deal by Freeman & Co.
Ripplewood Holdings is considering a bid for bankrupt auto parts maker Delphi Corp., according to The Wall Street Journal. The deal could be worth up to $10 billion, and is being led by Ripplewood partner and former Chrysler Corp. president Thomas Stallkamp.
The Riverside Company has acquired Agens Holding BV, a Dutch provider of unemployment-to-work services. No financial terms were disclosed.
RTL-Robinson Enterprises Ltd., a transportation and construction company for Canada’s Northwest Territories, has received an undisclosed amount of private equity funding from TriWest Capital Partners of Calgary.
SGS International Inc., a Louisville, Ky.-based provider of graphics and packaging services, has acquired two companies: The Box Room Ltd., a UK-based artwork and project management services company; and the packaging division of Lukkien Foto & Design BV, a Netherlands-based media and advertising services company. No financial terms were disclosed. SGS is a portfolio company of Court Square Capital Partners.
Springer Science & Business Media, a German portfolio company of Cinven and Candover, has approached rival publisher and conference organizer Informa about a takeover. The talks are in their early stages, but the combined company would be worth in excess of €4 billion.
Standish Capital of Pittsburgh has sponsored a management buyout of MJ1 Inc., a provider of manufacturing and outsourcing services to the metals industry. No financial terms were disclosed. First Commonwealth Bank provided a working capital facility, while Gladstone Capital provided term debt. The Lenox Group advised company management on the deal.
Steel Partners has made a $194 million unsolicited offer to buy listed Japanese instant-noodle company Myojo Foods Co. Ltd.
TA Associates has completed a $130 million minority leveraged recap of American Access Care, a Glen Rock, Pa.-based operator of outpatient vascular access centers for people with end-stage renal disease. RSM EquiCo Capital Markets served as financial advisor to AAC, while CIT Healthcare acted as lead arranger and administrative agent for the senior bank facility. TA Associates provided both equity and mezzanine capital.
Texas Pacific Group has dropped out of the bidding for H-3C, according to Dow Jones. That leaves Silver Lake Partners and Bain Capital as the remaining suitors for H-3C, which is a China-based joint venture between 3Com and Huawei Technologies Co. The deal is expected to be worth between $1.5 billion and $2 billion, with the report saying that Bain’s current offer is the highest.
Texas Pacific Group and Leonard Green Partners received approval from the shareholders of PETCO Animal Supplies (Nasdaq: PETC) to take the company private. The public-to-private transaction has a total value of approximately $1.8 billion, including assumed debt, and is expected to close this week.
Universal American Financial Corp. (NYSE: UHCO) has received an $18.15 per share buyout offer from a group that includes CEO Richard Barasch, Capital Z Partners, Lee Equity Partners, Perry Capital and Welsh, Carson, Anderson & Stowe. The deal would value UAF at around $1.06 billion.
USI Holdings Inc. (Nasdaq: USIH) says that it has received a buyout offer—and has formed a special committee of independent directors to examine the offer. The insurance broker also has retained Lazard and law firm Dewey Ballantine.
Wynnchurch Capital Partners of Chicago has acquired SPX Dock Products Inc., a Carrolton, Texas-based manufacturer of loading dock equipment, from SPX Corp. (NYSE: SPW). No financial terms were disclosed. SPX Deck Products will change its name to 4Front Engineered Solutions Inc.
Zenith Products Inc., a New Castle, Del.-based provider of decorative bathroom storage products, has completed a recapitalization of its senior debt. Golub Capital structured and led the recap, while other lenders include NewStar financial and Madison Capital Funding. Zenith is a portfolio company of Charlesbank Capital Partners.