3i Group has agreed to invest between $183 million and $229 million for a minority stake in Krishnapatnam Port Co., a port developer in South India, LBO Wire reported.
Accel-KKR has acquired a stake in Alexander Gallo Holdings Inc., a court reporting and litigation support services company based in Atlanta. The stake is part of the company’s acquisition of The Hobart West Group, which Accel-KKR has provided funding for.
Accel-KKR has sponsored a merger between portfolio company iTradeNetwork Inc. and Amphire Solutions, in order to create a single provider of software applications to the food, hospitality and healthcare industries. No financial terms were disclosed. Accel-KKR had acquired a majority stake in iTradeNetwork last December.
Active Interest Media, a media roll-up platform formed by Wind Point Partners in 2003, has acquired Yellowstone Journal Corp., a media company focused on happenings at Yellowstone National Park. No financial terms were disclosed.
Advent International has acquired Grango Assado, an operator of highway restaurants in Brazil, from the company’s founding family. No financial terms were disclosed, although Grango Assado expects 2008 sales in excess of US$120 million.
AIG Investments has invested new capital into Blue Intercontinental Micro Finance Bank, a JV between Nigeria’s Intercontinental Bank and Blue Financial Services, which provides micro-financing services and products into Nigeria’s retail market. AIG had previously invested in both Intercontinental Bank and Blue Financial Services. No financial terms were disclosed.
Alpine Investors has made an undisclosed investment in high-end lighting products seller YLighting, according to peHUB.
Amadeus Global Travel Distribution has asked its lenders to amend its €5.2 billion leveraged loan, in order to let it use around €600 million in excess cashflow to buy back debt at a reduced price. Certain lenders, however, are expressing deep reservations. Amadeus is controlled by BC Partners and Cinven.
American Fibers and Yarns Co. has filed for Chapter 11 bankruptcy protection, in order to liquidate its assets. The company makes polypropylene fibers and yarns for home furnishings, automotive and industrial applications. Monitor Clipper Partners sponsored a management buyout of the company in late 1999 from a division of AP Amoco.
Apax Partners and Haim Saban have exercised their option to buy an additional 10.66 percent of Bezeq Israel Telecom (TA: BEZQ), for approximately $318 million. They had acquired a 30 percent stake back in 2005.
Aricent, a Palo Alto, Calif.-based technology outsourcing company, has raised $60 million in new funding commitments from The Family Office (Bahrain) and return backer KKR. Other company shareholders include Sequoia Capital.
Bain Capital and Silver Lake Partners have submitted formal offers for a controlling stake in Huawei Technologies’ mobile handset business. The unit’s total value is expected to be in excess of $3.5 billion.
Bayside Capital, an affiliate of H.I.G. Capital, has acquired Akrion Inc., an Allentown, Penn.–based provider of surface preparation systems to the semiconductor and solar industries. No financial terms were disclosed.
Birch Hill Equity Partners and Westerkirk Capital have completed their acquisition of Sleep Country Canada Income Fund, a publicly-traded Canadian mattress retailer. The bid is valued at C$299 million, or C$22 per share. In addition, the bidders assumed approximately C$57 million in Sleep Country debt.
The Blackstone Group and JPMorgan Chase & Co. reportedly are arranging a $1 billion financing package that would be used to convert 20,000 U.S. cinema screens to digital technology.
The Carlyle Group, The Blackstone Group and Providence Equity Partners have withdrawn their £1.87 billion buyout offer for Informa PLC, after it was rejected by the UK publishing and event house. There had been some speculation that the firms would raise their bid, which had been reduced from the initial offer.
Cerberus Capital Management has offered $2 million in Chapter 11 financing to Hard Rock Park, a Myrtle Beach tourist attraction that filed for bankruptcy.
Cerberus Capital Management is in talks to acquire the 19.9 percent stake in Chrysler that it does not already own.
Charlesbank Capital Partners has acquired Tecomet, a Wilmington, Mass.-based contract manufacturer of complex components for the medical device and aerospace industries. No financial terms were disclosed. The seller was Cardinal Health (NYSE: CAH).
Ciena Capital, a provider of commercial real estate loans of up to $10 million, has filed for bankruptcy protection. It is a portfolio company of Allied Capital, whose shares fell to an all-time low following the news. Allied said it would pay around $320 million to lenders related to Ciena’s credit facility, using both cash-on-hand and perhaps borrowing up to $170 million.
The City of Chicago has agreed to lease its Midway Airport to a group led by Citi Infrastructure Investors. The $2.52 billion deal would be the first privatization of a major U.S. airport. Participating alongside Citi is YVR Airport Services Ltd. and John Hancock Life Insurance Co. Five other groups had submitted bids.Citigroup is considering a sale of life insurance unit Primerica to J.C. Flowers & Co. and insurer Protective Life Corp., according to Bloomberg.
CVC Capital Partners has agreed to acquire a 47.5 percent stake in Pilot Travel Centers, which would form an equal governance partnership with Pilot Corp. The CVC stake is being purchased from Marathon Oil Corp. for an undisclosed amount. PTC operates the largest travel center network in the United States with 305 locations in 40 states.
Emdeon, a provider of revenue and payment cycle management solutions for the healthcare industry, has acquired GE Healthcare IT’s patient statement business. No financial terms were disclosed. Emdeon is in registration for a $460 million IPO, and is backed by General Atlantic and Hellman & Friedman.
European Capital has invested 30 million in Compagnie Europeenne de Prestations Logistiques, a European logistics company focused on the outsourcing of automated multi-product order preparation. The deal values at CEPL at between 550 million and 600 million.
Falconhead Capital has acquired a controlling interest of an undisclosed size in Vernon, Calif.-based Not Your Daughter’s Jeans, an apparel company targeting Baby Boomer women.
Francisco Partners has invested $85 million in Aconex, an Australia-based provider of online management solutions to the global construction and engineering markets.
Gores Group has completed its acquisition of a 51 percent stake in Siemens Enterprise Communications from Siemens AG, which will retain the other 49 percent. The deal is structured as a joint venture, with the companies committing to invest at least €350 million into SEC, which provides unified communications, contact centers and secure networks.
Great Expressions Dental Centers, a Bloomfield Hills, Mich.-based operator of nearly 100 dental centers in seven states, has acquired ConsoliDent Inc., a dental chain with 41 affiliated practices in Florida and Michigan. No financial terms were disclosed. Audax Group acquired Great Expressions earlier this year. Harris Williams & Co. served as adviser to ConsoliDent, which had raised VC funding from DFW Capital Partners, RFE Investment Partners and Antares Capital.
H.I.G. Capital has helped form Epic Production Technologies, by sponsoring the merger of Q1 Production Technologies (Canada) and Ed & Ted’s Excellent Lighting (Los Angeles). No financial terms were disclosed for the deal, which creates a single provider of lighting systems for concert tours, theatrical productions and corporate and special events.
Hexion Specialty Chemicals Inc., a portfolio company of Apollo Management, has been ordered by a court to complete its stalled $6.5 billion buyout of Huntsman Corp. Hexion, a portfolio company of Apollo Management, has said that Huntsman’s increased debt loan has made the deal nonviable, and that it will review the court’s decision.
HgCapital has joined Capvis on its €325 million acquisition of Koenig Verbindungtechnik, a Swiss maker of fastenings and sealing products, from Klöckner. Capvis had originally announced that deal in July.
Hudson Clean Energy Partners has acquired Helium Energy, a Madrid-based renewable energy development company. No financial terms were disclosed. Helium will be integrated into Hudson’s Element Power platform, which will focus on utility-scale wind and solar development throughout the globe.
Huron Capital Partners has formed DOCetera Corp., an acquisition platform company for the document process outsourcing and total process outsourcing market. It will be run by Tom Olivia, former president of Cenveo Corp. (NYSE: CVO). No financial terms of Huron’s commitment were disclosed.
IRG Capital Group and Blackbird Capital Partners have backed out of a deal to buy the assets of Norwalk Furniture Group, a Norwalk, Ohio-based maker and retailer of upholstered furniture. The two firms had missed the original August 15 closing date, but later reaffirmed their interest in acquiring the company, following additional due diligence. Now, Norwalk has ceased operations, with the Cleveland Plain Dealer saying that the private equity firms were unable to secure the necessary financing.
Kohlberg & Co. has agreed to acquire Centerplate Inc. (AMEX/TSX: CVP), for approximately $83 million. Centerplate is a Stamford, Conn.-based provider of food services, including concessions, catering and merchandise services in more than 130 sports facilities, convention centers and other entertainment venues throughout the United States and Canada.
Lehman Brothers is being replaced as agent on a pair of European leveraged loans that backed buyouts of Firth Rixson (Oak Hill Capital Partners) and Iglo Birds Eye Frozen Foods (Permira).
Lime Rock Partners and Thompson Street Capital Partners have completed their acquisition of Industrial Rubber Products Inc. (OTC BB: INRB), a Hibbing, Minn.-based maker of protective coatings for the pipeline and industrial markets. IRP stockholders received $16.50 per share. Stifel, Nicolaus & Co. managed the sell-side process.
Linden LLC has acquired Drayer Physical Therapy Institute, a Hummelstown, Penn.-based operator of outpatient physical therapy clinics throughout the Eastern United States. No financial terms were disclosed for the deal, which was done in partnership with company management.
Lineage Power Holdings Inc., a portfolio company of The Gores Group, has agreed to acquire Cherokee International (Nasdaq: CHRK), a maker of switch-mode power supplies for datacom, telecom, medical and process-control applications. The deal is valued at approximately $105 million, or $3.20 per share.
MBF Healthcare Acquisition Corp. (AMEX: MBH) has again revised the terms of its pending buyout of Critical Homecare Solutions Holdings Inc., which it originally agreed to acquire from Kohlberg & Co. back in February. The original cut was from $534 million to $479 million, and came after a financing commitment letter from Jefferies Finance expired on July 31. Now, MBF said in an SEC filing that the cash paid at closing will be reduced by another $12 million. It also has made additional alterations, including the sale of new unregistered shares to the sellers.
Millennium Private Equity has made an undisclosed minority stake investment in Turin Networks, a Petaluma, Calif.-based ethernet services provider. Millennium Private Equity is based in Dubai.
Monomoy Capital Partners has acquired L&P Plastics LLC from Leggett & Platt Inc. (NYSE: LEG), for an undisclosed amount. L&P Plastics makes custom plastic components for the power tool, medical device, furniture and automotive industries. It has more than 400 employees and four facilities. Lazard Middle Market advised Leggett & Platt on the sale.
Moody’s Investors Service has downgraded Hawaiian Telcom Communications from B3 to Caa2, after the carrier announced that it had retained Lazard Freres to examine its balance sheet. The Carlyle Group acquired Hawaiian Telcom from Verizon Communications in 2005 for approximately $1.6 billion.
Nokia said that it is in advanced talks to sell its security appliances business to a financial investor.
Nord Holding has acquired a 70 percent stake in German IT services company Igel Technology. No financial terms were disclosed.
Orchard Brands, a portfolio company of Golden Gate Capital, has completed its $35 million purchase of the misses apparel catalogs of Charming Shoppes Inc. (Nasdaq: CHRS).
Perseus LLC has agreed to acquire the Physicians Interactive business of Allscripts Healthcare Solutions Inc. (Nasdaq: MDRX). No financial terms were disclosed for the deal, which is expected to close within the next month. Physicians Interactive provides online clinical education programs that enable life sciences companies to reach physicians.
Reliant Energy (NYSE: RRI) has secured $1 billion in new capital commitments, including a $650 million term loan commitment from GS Loan Partners and a $350 million convertible preferred stock purchase by First Reserve Corp. The Houston-based company said its move was prompted by “disappointing” 2008 retail results, plus difficulties related to Hurricane Ike.
The Riverside Company has acquired DuBois Chemicals Inc., a Racine, Wis.–based maker of specialty chemicals and solutions for manufacturing problems and lean initiatives, from JohnsonDiversey Inc. No pricing terms were disclosed. Key Bank and US Bank provided senior debt, while New Canaan provided mezzanine debt.
The Riverside Company has acquired Eemax Inc., an Oxford, Conn.–based maker of tankless electric water heaters. No financial terms were disclosed.
Rockwell Diamonds Inc. (TSX: RDI) is asking stockholders to reject a $0.36 per share buyout offer from Pala Investments Holdings, which would value Rockwell at $85.7 million. Pala already holds a 19.9% stake in Rockwell, which owns interests in alluvial diamond projects and properties in South Africa and the Democratic Republic of Congo.
Saptor, a private equity firm formed last year by Italian banker Matteo Arpe, has acquired a 40 percent stake in Baglioni Hotels for €30 million. It is the Saptor’s first deal.
Solar Power Partners Inc. announced that it has closed a total of $100 million in private equity and debt financing, and that it soon expects to close on another $60 million for project financing. Backers include United Commercial Bank, Globespan Capital Partners, Energy Investors Funds, The Enlightened World Foundation, Carrelton Asset Management, Dry Creek Ventures and Silicon Valley Technology Group. The Mill Valley, Calif.-based company develops, owns and managers a distributed network of mid-size commercial solar energy facilities that is remotely managed from a central location.
Sun Capital Partners has acquired Gordmans Inc., an Omaha, Neb.-based apparel and home fashions retailer in the Midwestern U.S. No financial terms were disclosed. Gordmans was advised on the deal by Harris Williams & Co.
TA Associates has invested C$98 million in Radialpoint, a Montreal-based provider of managed digital home security and care service to broadband service providers.
TowerCo, a portfolio company of Tailwind Partners, has completed its acquisition of approximately 3,300 wireless communication towers from Sprint Nextel for $670 million in cash. The two companies also entered into a long-term leasing agreement whereby TowerCo will provide Sprint with towers to support its CDMA, iDEN and WiMAX networks. Equity for the acquisition was being provided by Tailwind, Soros Strategic Partners, Stone Tower Equity Partners and Vulcan Capital.
Versa Capital Management has agreed to acquire substantially all the assets of retailer Boscov’s Department Store LLC, which filed for Chapter 11 bankruptcy protection on August 4.
Water Street Healthcare Partners has acquired HealthPlan Holdings Inc., a Tampa, Fla.-based provider of outsourcing services to insurers in the individual, small business, union trust and voluntary benefits markets. No financial terms were disclosed.
Water Street Healthcare Partners has completed its agreement to acquire 69 percent of CareCentrix from Gentiva Health Services for $147 million. CareCentrix is a manager of medical and nursing services based in Hartford, Conn.