3i Group has agreed to acquire a minority ownership stake in Union Radio, a Spain-based owner of Hispanic radio outlets Cadena Ser and Grupo Latino de Radio. The deal includes an initial investment of €125 million, and a total commitment of €225 million. Maite Ballester and Javier Alonso of 3i will join the Union Radio board of directors.
ABRY Partners has acquired Hosted Solutions, a Raleigh, N.C.-based provider of data center and managed services. The deal is valued at $140 million, with Hosted Solutions being represented by DH Capital.
Advantage Partners, a Japan-based private equity firm, has agreed to buy global automotive leather provider GST Autoleather Inc. from SILLC Holdings LLC. No financial terms were disclosed. Goldman Sachs Japan is advising the buyer, while Lazard Freres & Co. is representing the seller.
Advent International reportedly is among the potential acquirers lining up for EAT, a UK-based sandwich shop chain that is being sold by Penta Capital and company founders. Morgan Stanley Private Equity also might be interested. Bids are expected to come in at around £150 million.
Apax Partners has abandoned plans to acquire a stake in German fashion house Escada. A statement on Escada’s website confirmed that the group had been in talks with Apax for several months, but that the firm had informed the board in early April that “they were not pursuing their plans for an equity investment in Escada any further and will therefore not continue negotiating.”
Apax Partners has agreed to acquire The TriZetto Group Inc. (Nasdaq: TZIX), a Newport Beach, Calif.-based provider of IT solutions for the healthcare supply chain. The deal is valued at approximately $1.4 billion, with TriZetto stockholders to receive $22 per share in cash (29 percent premium to 30-day trading average). TriZetto customers BlueCross BlueShield of Tennessee and The Regence Group will participate alongside Apax as equity investors.
Aquiline Capital Partners has acquired a 5.1 percent stake in in Dutch equities trader BinckBank NV.
Arsenal Capital Partners has agreed to acquire DG3 Group, a graphics and document printing company. No financial terms were disclosed, except that Bank of America provided leveraged financing.
August Equity has sold its investment in Healthcare Homes, a residential care provider for the elderly, in a £75 million secondary buyout to Bowmark Capital. Bowmark invested £35 million of equity, with Royal Bank of Scotland providing a £40 million senior debt facility and further funding for bolt-on acquisitions and development.
Bain Capital and Advantage Partners are among the bidders for Japanese audio equipment maker D&M Holdings, according to Reuters. D&M is currently owned by Ripplewood and Philips Electronics, and has a value of approximately $277 million. Other likely bidders include Merrill Lynch Global Private Equity and a non-Japanese electronics maker.
Bezier, a European in-store marketing company, has acquired UK-based Coutts Retail Communications. No financial terms were disclosed. Bezier is a portfolio company of MidOcean Partners.
The Blackstone Group and CVC Capital Partners have bid to acquire a 29.9 percent stake in UK pub group Mitchells & Butlers, according to The Times of London. No financial terms were reported. The Blackstone and CVC offer follows a bid from Permira, while Bain Capital is said to be considering its own approach.
Candover, Goldman Sachs and Alpinvest have agreed to acquire Expro International Group, a publicly-traded UK energy company, for £1.6 billion.
The Carlyle Group and J.H. Whitney & Co. have led an acquisition of Authentix Inc., an Addison, Texas–based provider of authentication and brand protection solutions. No financial terms were disclosed. MHT Securities advised Authentix on the deal.
CCC Information Services, a Chicago-based portfolio company of Investcorp, has agreed to merge with Mitchell International Inc., a San Diego-based portfolio company of Aurora Capital Group. The $1.4 billion transaction will create a combined company with annual revenue of around $460 million and approximately 2,000 employees. It will provide information, workflow management systems and integrated software to insurance companies and collision repair facilities.
Central European Media Enterprises Ltd., a publicly-traded portfolio company of Apax Partners, has agreed to acquire two Romanian radio stations from Compania de Radio Pro.
Cerberus Capital Management reportedly has ended its pursuit of the healthcare business of Belgian imaging technology group Agfa-Gevaert, due to worsening economic conditions.
Chrysalis, the U.K. music group which sold its radio interests last year, has terminated discussions about the sale of the rest of the business. In early February, reports suggested that EMI, backed by private equity investor Terra Firma, as well as Warner Music and Sony were in a second round of bidding. Bids had been expected to be worth around £170 million.
Crystal Ridge Partners has sponsored a recapitalization of Bronco Manufacturing Inc., a Tulsa–based manufacturer of replacement parts for drilling, workover, and well servicing rigs. No financial terms were disclosed. Corporate Finance Associates advised Bronco on the deal.
Dubai International Capital has abandoned its attempts to buy Liverpool Football Club. The team is currently owned by Tom Hicks and George Gillett, and is being advised by Merrill Lynch.
Elysian Capital has acquired The Landscape Group Ltd., a UK-based landscaping and horticultural specialist known as English Landscapes. No financial terms were disclosed for the deal, except that Lloyds TSB Corporate Markets provided the debt financing. Landscape Group has over 600 employees, and annual revenue of around £40 million.
Emerging Capital Partners has acquired a controlling interest in BACIM Bank, the seventh-largest banking group in Mauritania. The deal is valued at $15.9 million.
Francisco Partners and Elliott Associates have purchased $80 million in zero coupon convertible notes issued by Blue Coat Systems Inc. (Nasdaq: BCSI), a provider of WAN application delivery and web gateways. Blue Coat will use part of the proceeds to acquire Packeteer Inc.
Freestone Partners has led an acquisition of Sunbelt Steel Texas Inc., a Houston-based distributor of steel round bars. Company management also participated on the deal, while Stonegenge Growth Capital provided $16.4 million in equity and sub debt and PNC Business Credit provided senior managing. No complete financial terms were disclosed.
Gores Equity has acquired CBE Technologies, a Providence, R.I.-based provider of managed IT services for state governments, municipalities, educational institutions and SMEs. No financial terms were disclosed.
Greenfield Partners has agreed to acquire Clayton Holdings Inc. (Nasdaq: CLAY), a Shelton, Conn.-based provider of analytics, specialty consulting and outsourced services like due diligence and surveillance. The deal is valued at approximately $134 million, with Clayton stockholders—including TA Associates—to receive $6 per share (24 percent premium to Friday’s closing price). That figure does not include repayment of $23.8 million in debt. Banc of America Securities is advising Clayton.
GreenLine Foods, a provider of fresh-trimmed, microwaveable packaged green beans, has acquired HerbThyme Farms, a grower and distributor of fresh herbs in the U.S. No financial terms were disclosed. GreenLine is a platform portfolio company of The Riverside Company.
Gresham Private Equity has acquired Johnson Clothing, a UK-based maker of job-related clothing, from Johnson Service Group in an £82.5 million management buyout. Debt was provided by Lloyds TSB, Barclays, HSBC and Royal Bank of Scotland.
H.I.G. Capital has sponsored a recapitalization of Linden Lumber Company Ltd., a Linden, Ala.-based manufacturer of southern hardwoods like red oak and ash. No financial terms were disclosed.
Halliburton Co. reportedly is considering a counter-bid for Expro International Group PLC, a listed UK energy services company thatalready has agreed to a £1.61 billion buyout by Candover, Goldman Sachs and AlpInvest.
Halyard Capital has acquired a package of cable assets from Newnan Utilities, a municipally owned utility based in Newnan, Georgia. The deal was valued at $70 million, with financing provided by CIT Lending Services, Newstar Financial and Wells Fargo Foothill. The assets will be managed by a newly-formed company called NuLink.
Hanover Partners has acquired Pyramid Technologies Inc., a Mesa, Ariz.-based maker of bank note validators and currency validation equipment used in slot machines, vending machines and amusement devices. No financial terms were disclosed.
IMin Partners has acquired J.M. Huber Corp.’s Kaolin business unit, which makes hydrous and calcined kaolin clay for use in paper and industrial applications. No financial terms were disclosed. J.M. Huber was advised by Harris Williams & Co.
J.C. Flowers & Co. is leading a consortium offer to acquire a 24.9% stake in Hypo Real Estate, a Frankfurt-listed property finance business. The €22.50 per share offer represents a 25 percent premium.
Liz Claiborne Inc. (NYSE: LIZ) has completed its sale of Ellen Tracy brand to an investment group that includes Radius Partners, William Sweedler (Windsong Brands), Barry Sternlicht and Marvin Traub. The deal included a $27.3 million upfront cash payment, and up to $15 million in cash earn-outs.
Manoir Industries SA, a French maker of metal components and assemblies, has acquired Hi–Tech Fabrication Ltd., a UK-based maker of welded assemblies in heat resistant and corrosion resistant steels and alloys for the petrochemical, oil and gas, and power industries. No financial terms were disclosed. Manoir Industries is a portfolio company of Sun European Partners, the European affiliate of Sun Capital Partners.
National City Corp. said that it will raise $7 billion in new equity capital. Corsair Capital is leading the deal, alongside another undisclosed private equity investor. National City also announced a $171 million net loss for Q1. The combined news sent the Cleveland-based bank’s stock down nearly 19 percent.
Natural Gas Partners has completed its acquisition of a portfolio of generating and transmission assets owned by the city of Vernon, California. The transaction changed a bit from the initial announcement, with the sale price dropping from $342 million to $288 million and two fewer assets being included. NGP teamed on the deal with Paul Prager, who previously worked with NGP to acquire Bicent Holdings. Debt financing was provided by Union Bank of California and Lehman Brothers.
Nike Inc. (NYSE: NIKE) has completed the sale of its Bauer Hockey subsidiary to Kohlberg & Co. and Canadian businessman W. Graeme Roustan for $200 million. Bauer makes branded ice hockey products like skates, sticks and helmets. Lazard advised Nike on the process.
North America Sports Media, a portfolio company of Pfingsten Partners, has acquired Dodds Athletic Tours, a provider of university sports tour development and marketing. No financial terms were disclosed.
Octopus Private Equity has sponsored a £16 million management buyout of Hydrobolt Group Ltd. and its sister company Studbolt, which are UK-based makers of fasteners for the oil & gas and power generation markets.
Palladium Equity Partners has sponsored a management-led buyout of Remasas Quisqueyana Inc., a New York-based provider of money transfers and other services largely to Hispanic customers. No financial terms were disclosed. Other equity participants included Baird Venture Partners, Adams Street Partners, Sewanee Ventures and company management.
Pharos Capital and TPG Capital have agreed to buy American Beacon Advisors, the asset management subsidiary of American Airlines parent company AMR Corp. The deal is valued at approximately $480 million, with AMR retaining a minority ownership position.
Pine Creek Partners has sponsored a recapitalization of Hilden America Inc., a South Boston, Va.-based provider of luxury linens to high-end hotels and restaurants. No financial terms were disclosed for the deal, which also included participation by SunTrust Bank.
Platinum Equity has completed its $417 million take-private buyout of Covad Communications Group Inc. The deal valued Covad stock at $1.02 per share. Covad is a San Jose, Calif.-based provider of integrated voice and data communications. It was advised on the deal by Barclays Capital, while Platinum was advised by Houlihan Lokey Howard & Zukin.
Pomeroy IT Solutions (Nasdaq: PMRY) has received a $7.05 per share buyout offer from Charlesbank Capital Partners and David Pomeroy, the company’s founder and largest shareholder. Pomeroy provides IT infrastructure solutions, with a focus on enterprise, network and end-user technologies.
Primary Capital has acquired Pacific Direct, a UK-based maker of brand-name toiletries for hotel customers, for £20 million. HSBC provided leveraged financing.
Prism Health Networks, a West Seneca, N.Y.-based provider of muscular-skeletal health services, has raised an undisclosed amount of equity funding from Summer Street Capital Partners.
Relativity Capital has acquired a majority stake in Nivisys Industries LLC, a Tempe, Ariz.-based maker of defense and surveillance technologies. No financial terms were disclosed. Nivisys was represented by GW Equity, while CapitalSource provided debt financing.
Silver Lake Sumeru has sponsored a merger between Audio Visual Innovations and Signal Perfection Ltd., in order to form a single provider of global audio video systems and integration services. No financial terms were disclosed.
Sovereign Capital has sponsored a management buyout of World Class Learning Schools & Systems Ltd., a London-based operator of schools and education management services. No financial terms were disclosed.
Sun Capital Partners got a boost from proxy firm RiskMetrics Group-ISS, which urged Furniture Brands International (NYSE: FBN) stockholders to approve three board nominees put forth by Sun Capital, rather than the furniture company’s candidates.
The Riverside Company has acquired Central Power Products Inc., a Grandview, Mo.-based manufacturer of railcar movers. No financial terms were disclosed, except that the debt was financed via a co-managed venture of GE Commercial Finance and Allied Capital. Riverside will fold CPP into an acquisition platform called Nordco.
The Suzo-Happ Group, a portfolio company of Pfingsten Partners, has acquired Suzo Polska, a distributor of gaming equipment in Poland. No financial terms were disclosed.
TietoEnator (Helsinki: TIE1V), a Nordic IT services company, has advised shareholders to reject a €1.1 billion buyout offer from Nordic Capital. In a statement, TietoEnator chairman Matti Lehti said that it is “in active dialogue on several options with several parties.”
UniTek USA LLC, a portfolio company of HM Capital Partners, has agreed to acquire the cable services operating unit of 180 Connect Inc., which is being acquired by DirecTV in a separate transaction. Unitek also will acquire certain DirecTV installation services markets in exchange for cash and UniTek’s satellite installation services in New York City, Burbank, Calif., and Bloomington, California.
Verax Capital Partners has led a recapitalization of GoodRadio.TV LLC, a West Palm Beach, Fla.–based company formed in 2006 to acquire “hyper-local” radio operations in small to medium markets. It currently owns 24 stations and one FM construction permit in 12 markets in Missouri and Iowa. Verax was joined on the deal by Wells Fargo Foothill, Pacific Media Capital and GoodRadio founder and CEO Dean Goodman.
Wedbush Capital Partners has sponsored a growth equity recap of Reyn Spooner Inc. and Reyn’s Menswear, two affiliated island and surf-inspired apparel companies based in Hawaii. No financial terms were disclosed.
WL Ross & Co. has completed the first phase of its $1 billion investment in bond insurer Assured Guaranty Ltd. (NYSE: AGO). That piece involved the purchase of 10.7 million common shares at $23.47 per share, yielding $250 million in proceeds to the company. It gives Ross around a 12 percent ownership position.