3i Group has completed its acquisition of VNU Business Media Unit from The Nielsen Co. No financial terms were disclosed. The unit is a business-to-business publisher operating throughout Europe.
Advent International has acquired an 80 percent interest in Pronto, a consumer credit company in Uruguay, from a group of local individuals. No financial terms were disclosed. Advent was joined on the deal by Argentinean firm Grupo de Servicios y Transacciones SA.
AIG Capital Partners has led a buyout of Companhia Providencia Industria e Comercio (Providencia), a Brazil-based manufacturer a fabric made of polypropylene used in disposable goods such as diapers and feminine care, and durable goods such as auto-parts and home furniture. The deal was valued at $432.6 million, with other members of the buyout consortium including GG Investimentos, Banco Espirito Santo and the Constantino Family. To provide leverage, Banco Santander led a local commercial paper issuance worth around $216 million.
Aksia Capital of Italy has acquired a majority stake in Robuschi SpA, a maker of industrial blowers and pumps. The equity investment was €30 million, with senior credit facilities provided by Interbanca and BNL.
Angelo, Gordon & Co. has acquired NOVA Gaming LLC from a group of individual owners. NOVA is a Greenville, S.C.–based maker of interactive, server-based gaming systems and titles for the Native American gaming market.
Arbor Private Investments has acquired National Provisions Inc., a Miami, Fla.-based provider of branded deli meats. No financial terms were disclosed. It is Arbor’s first deal out of its second buyout fund.
Apax Partners has agreed to acquire a 27 percent stake in listed French computer services group GFI Informatique, by backing a €56 million rights issue. Apax said that it will not seek to acquire a control position.
Apollo Management has completed its $12.50 per share acquisition of Jacuzzi Brands Inc. (NYSE: JJZ). The total transaction was valued at $1.25 billion, including the assumption of $260 million in outstanding debt. Lazard Frères & Co. advised Jacuzzi Brands on the deal, which was originally announced last October. Jacuzzi Brands is a West Palm Beach, Fla.-based manufacturer and distributor of branded bath and plumbing products for the residential, commercial and institutional markets.
Aptuit Inc., a Greenwich, Conn.-based provider of streamlining and support services for drug developers, has completed its acquisitions of solid-state chemistry companies EaglePicher Pharmaceutical Services LLC and SSCI Inc. No financial terms were disclosed. Aptuit is backed by Welsh, Carson, Anderson & Stowe and Temasek Holdings.
Arlington Capital is in advanced talks to acquire a majority stake in Advanced Health Media, a Union, N.J.–based provider of technology solutions for compliant pharmaceutical meetings, speaker programs and healthcare professional interactions.
Avista Capital Partners has acquired Phillips Investment Resources LLC, a Rockville, Md.-based provider of subscription-based investment advice, from Phillips International Inc. No financial terms were disclosed. Phillips International was advised on the sale by The Jordan, Edmiston Group.
Baker & Taylor, a Charlotte, N.C.–based book distributor, has agreed to acquire a majority of the assets of San Diego-based Advanced Marketing Services Inc. (OTC BB: MKTSQ), a bankrupt provider of customized merchandising, wholesaling and contract distribution services. No financial terms were disclosed. Baker & Taylor is a portfolio company of Castle Harlan.
Bain Capital has agreed to acquire listed South African retailer Edgars Consolidated Stores Ltd. (Edcon) for approximately $3.5 billion. The deal is still subject to shareholder and regulatory approvals, and would represent a 51.3 percent premium to Edcon’s closing price on Oct. 16, which is when the company disclosed discussions with private equity firms. If completed, it would be the largest-ever leveraged buyout of a South African company.
Baird Capital Partners has acquired two suppliers of outdoor wood play sets: Backyard Adventures Inc. of Amarillo, Texas, and Leisure Time Products Inc., of Pittsburg, Kansas. No financial terms were disclosed. Each company will heretofore operate as separate subsidiaries of Backyard Leisure Holdings.
Bear Stearns Merchant Banking has completed its acquisition of a controlling interest in Alter Moneta, a Montreal-based provider of traditional equipment financing. No financial terms were disclosed. Existing Alter Moneta shareholder Caisse de dépôt et placement du Québec will retain an ownership position.
Belvedere Capital has agreed to acquire a majority interest in Professional Business Bank (OTC BB: PBBK), a Pasadena, Calif.-based bank serving Southern California businesses. Under terms of the deal, PBB shareholders will receive $23 per share in cash or 0.87 shares of a newly formed holding company that will own 100 percent of PBB. Shareholders will elect their form of consideration, with 52.5 percent of the outstanding shares expected to receive cash and the remaining 47.5 percent to receive holding company shares, subject to the allocation provisions of the agreement.
Berkshire Partners has acquired a majority position in medical equipment companies Chatsworth, Calif.-based Masterplan Inc. and Goodlettsville, Tenn.-based ReMedPar Inc. from Three Cities Research and Camden Partners. No financial terms for either deal was disclosed. Bear Stearns and Ares Capital provided leverage.
Black Diamond Capital Management and Brencourt Advisors have agreed to acquire Werner Holding Co., a bankrupt, Greenville, Pa.-based manufacturer and distributor of ladders, climbing equipment and ladder accessories. The deal provides Werner with an enterprise value of approximately $255.75 million.
Boston Ventures has acquired a majority interest in HomePages LLC, a DeKalb, Ill.-based publisher of 135 community yellow pages directories in Illinois, Wisconsin and Indiana. No financial terms were disclosed.
Brockway Moran & Partners has recapitalized Tri-Star Electronics International Inc., an El Segundo, Calif.-based maker of products for the aerospace and defense markets. The deal was done in partnership with company management and shareholder Odyssey Investment Partners, which will retain an interest in the company.
Cambridge Information Group has acquired ProQuest Information and Learning from ProQuest Co. (NYSE: PQE) for $222 million. ABRY Partners provided equity financing, while leverage was arranged by Morgan Stanley Senior Funding and Goldman Sachs Credit Partners. CIG will merge ProQuest I&L with existing subsidiary CSA.
has agreed to acquire a majority stake in Titan Specialties Ltd., a Pampa, Texas-based provider of perforating gun systems, shaped charges, well-logging instrumentation and other ancillary drilling and completion products for the oilfield services industry. No financial terms were disclosed for the deal, which includes leverage arranged by Credit Suisse. Merrill Lynch advised Titan on the sale.
Caritor Inc., a San Ramon, Calif.-based provider of IT services, has agreed to acquire business process and IT services firm Keane Inc. (NYSE: KEA) for $14.30 per share in cash (19 percent premium to yesterday’s closing price). The total deal is valued at approximately $854 million, with Caritor receiving equity financing from existing shareholder Citigroup Venture Capital International and leveraged financing from Citigroup Global Markets, UBS Securities and Bank of America Securities.
CCMP Capital Advisors and GS Capital Partners have agreed to acquire Triad Hospitals Inc. (NYSE: TRI) for $50.25 per share. The entire transaction is valued at approximately $6.4 billion, including around $1.7 billion in debt. Under terms of the deal, Triad may solicit superior proposals for the next 40 days. Were it to accept such an offer, it would owe CCMP and GS a $20 million breakup fee and another $20 million in reimbursement for out-of-pocket expenses. Lehman Brothers is advising Triad on the sale.
CCMP Capital Asia, Permira and Texas Pacific Group are prepping bids to acquire a majority stake in consumer electronics company Victor Co. of Japan (VCJ) from Matsushita Electric Industrial, according to The Wall Street Journal.
Cerberus Capital Management has agreed to acquire 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.
Code Hennessy & Simmons LLC has acquired an equity position in Mainline Supply Co., a Charlotte, N.C.–based wholesale distributor of underground infrastructure products in the Southeast. No financial terms were disclosed for the deal, which was done in partnership with company management.
CoreLogic Systems Inc., a Sacramento, Calif.-based provider of mortgage risk assessment and fraud prevention solutions, has merged with The First American Corp. (NYSE: FAF). The combined entity is majority owned by First American Corp. via its FARES LLC joint venture with Experian Group, while CoreLogic shareholders—TA Associates and company management—hold an 18 percent interest and have two board seats.
Creo Capital Partners has acquired a majority stake in Lintelle Engineering Inc., a Scotts Valley, Calif.-based design, engineering and manufacturing firm. No financial terms were disclosed, except that Lintelle founder Bill Turner will retain a “significant minority” stake.
Eateries Inc., an Oklahoma-based casual dining restaurant company, has been acquired by Cordova, Smart & Williams, Waterview Capital and company management. No financial terms were disclosed, except that Praesidian Capital provided around $6.5 million in subordinated notes and redeemable preferred equity.
Eddie Bauer Holdings Inc. (Nasdaq: EBHI) shareholders have rejected a $9.25 per share buyout offer from Sun Capital Partners and Golden Gate Capital. The total deal would have been valued at approximately $614 million, including around $328 million of debt to be repaid. Only 44 percent of the company’s outstanding shares were voted in favor of the deal, falling short of the required threshold. Thirty-seven percent voted in opposition.
EMC Corp., an educational publisher owned by The Wicks Group of Cos., has acquired JIST Publishing Inc., an Indianapolis-based publisher of educational materials covering such topics as job search, resumes and career reference. No financial terms were disclosed.
Exxon Mobil is considering the sale of at least some of its French oil business that could be worth up to $2.6 billion, according to The Business of London. Likely bidders include First Reserve, PAI Partners and Petroplus (of which Carlyle owns 20 percent).
FdG Associates has recapitalized USA Bouquet, a Miami, Fla.-based provider of fresh floral products and services. No financial terms were disclosed.
Fenway Partners has agreed to acquire a majority interest in Gemini Traffic Sales Inc., an Edison, N.J.-based regional truckload carrier specializing in the transportation of time- and temperature-sensitive products. No financial terms were disclosed for the deal, which is being done in partnership with Gemini management.
Four Seasons Hotels Inc. (NYSE: FS) said that its board has approved an $82 per share buyout offer from Cascade Investment (backed by Bill Gates), Kingdom Hotels International (backed by Saudi Prince Alwaleed Bin Talal Bin Abdulaziz Alsaud) and Four Seasons chairman and CEO Isadore Sharp. The total deal would values the company at approximately $3.8 billion, with a shareholder vote slated for April.
General Atlantic has withdrawn a $36 per share buyout offer for EGL Inc. (Nasdaq: EAGL), a Houston–based freight forwarding company. The offer had been made in partnership with company CEO James Crane, and would have valued EGL at approximately $1.2 billion. In a statement, EGL said that General Atlantic’s withdrawal was “due to an expected shortfall in EGL’s fourth quarter 2006 results, as compared to amounts previously anticipated by analysts and by General Atlantic.”
Golden Gate Capital and Integrity Brands have agreed to acquire military boot manufacturer Wellco Enterprises Inc. (AMEX: WLC) for $14 per share (33 percent premium to yesterday’s closing price).
Gryphon Investors has closed its acquisition of G.I. Joe’s Inc., a Wilsonville, Ore.–based sporting goods and outdoor retailer in the Pacific Northwest. No financial terms were disclosed.
H.I.G. Capital and AmTrust Financial Services Inc. (Nasdaq:AFSI) have completed their $0.75 per share acquisition of Warrantech Corp. (OTC BB: WTEC), a Bedford, Texas–based provider of service contracts and after-market warranties.
H.I.G. Capital has sponsored a recapitalization of The Harvard Drug Group LLC, a Livonia, Mich.-based distributor of generic and branded pharmaceuticals in the United States. No financial terms were disclosed.
Imperial Capital has acquired substantially all the assets of Kenra LLC, an Indianapolis-based hair care manufacturer and marketer. No financial terms were disclosed.
Industrial Opportunity Partners of Chicago has acquired the assets of the Shelby, N.C.-based operating facility of Honeywell (NYSE: HON). IOP has renamed the business FAS Controls Inc., and says that it is a manufacturer of pressure switches, valves, circuit breakers, mechanical switches, coils and solenoids. No financial terms were disclosed for the deal, except that PNC Business Credit provided financing.
Investar, of Irving, Texas has acquired Dallas-based bakery company Celebrity Cafe & Bakery. No financial terms were disclosed.
J.H. Whitney & Co. has offered to buy nutritional supplements company Herbalife Ltd. (NYSE: HLF) for $38 per share. Whitney already owns around 27 percent of the company, which is being valued at $2.7 billion by the offer.
Jinsheng Group, a Nanjing, China-based mall operator and real estate development company, has raised $60 million in private equity funding from Bain Capital ($45m) and CBL & Associates Properties Inc. ($15m). CBL and Bain Capital have also been granted a three-year warrant in the business for an additional combined investment of $7.5 million, exercisable at the buyers’ option.
Lamson & Sessions (NYSE: LMS) has retained Perella Weinberg Partners to help is explore strategic and financial alternatives that could include a sale of the company. News of the review sent the thermoplastic enclosure-maker’s stock up 6.5 percent to $28.50 per share.
LumaSense Technologies Inc., a Santa Clara, Calif.–based sensor maker controlled by Oak Investment Partners, has agreed to acquire Mikron Infrared (Nasdaq: MIKR) for $11.50 per share (18 percent premium to yesterday’s closing price). The entire transaction would be valued at approximately $65 million.
Madison Dearborn Partners has completed its $34.75 per share buyout of The Yankee Candle Company Inc., which has subsequently delisted from the New York Stock Exchange. The total deal was valued at around $1.6 billion, including $300 million in assumed debt.
Mattress Firm, a mattress retailer recently acquired by J.W. Childs Associates, has agreed to buy Bedtime Mattress Co., a Las Vegas-based mattress retailer with 15 locations. No financial terms were disclosed for the deal, which is expected to close within the next 45 days. Once completed, the deal will bring Houston-based Mattress Firm’s total store count to nearly 370 stores across 20 states.
Merrill Corp. said that its wholly-owned subsidiary WordWave International Pty Ltd. has acquired ComputerReporters, a provider of reporting services to the legal, corporate and government markets in Australia. Merrill is a provider of document management services to the financial, legal and real estate markets, and is backed by DLJ Merchant Banking.
MidOcean Partners has completed its $450 million acquisition of Sbarro Inc., a Melville, N.Y.–based quick-service Italian restaurant company with over 1,000 locations. The deal included leverage from Credit Suisse and Bank of America.
MidOcean Partners has completed its acquisition of a 50 percent ownership position in Prism Business Media. The move comes after Prism completed its previously-announced acquisition of Penton Media. The stake was sold by Prism owners Wasserstein & Co., Highfields Capital Management and Lexington Partners. No financial terms are being disclosed.
Numericable, a French cable company owned by Cinven, is considering a bid for Iliad SA, according to La Lettre de L’Expansion. The deal would be valued at approximately €5 billion, with Morgan Stanley arranging the leveraged financing.
One Equity Partners has agreed to acquire the Emissions Technologies group of ArvinMeritor Inc. (NYSE: ARM) for approximately $310 million. The group primarily serves manufacturers of light and commercial vehicles.
Palladian Capital Partners has acquired shareholder services business EquiSearch Services from ChoicePoint (NYSE: CPS). No financial terms were disclosed.
Platinum Equity is the favored bidder for bankrupt Delphi Corp.’s steering and halfshaft division, with a preliminary bid reported to be valued at around $560 million. The two firms continue to negotiate.
Parallel Investment Partners has completed the recapitalization of Moosejaw Mountaineering and Backcountry Travel Inc., a multi-channel retailer of premium outdoor apparel and equipment.No financial terms were disclosed. Moosejaw was advised by Financo.
Parallel Investment Partners has sponsored a buyout of Mealey’s Furniture and Mattress, a furniture retailer in the greater Philadelphia area. No financial terms were disclosed.
RedZone Capital, a private equity firm run by Washington Redskins owner Daniel Snyder, has agreed to acquire the Johnny Rockets restaurant chain for an undisclosed amount. Snyder said that he hopes to help expand the 2000-restaurant chain to around 1,000 locations within the next five years (including smaller Johnny Rockets Express shops).
Resilience Capital Partners has acquired Branstrator Corp., a Ft. Wayne, Ind.-based sunroom manufacturer. No financial terms were disclosed.
The Riverside Company has acquired two companies as add-ons to portfolio platform Veritext Corp., a Florham Park, N.J.–based provider of court reporting services. The add-ons are: Doemer & Goldberg Inc., a provider of court reporting and deposition support services; and First Services Ltd., a provider of court reporting services and video conferencing solutions for clients in the Philadelphia market.
SandRidge Energy Inc. (f.k.a. Riata Energy), an Oklahoma City-based oil and gas exploration and production company, has agreed to sell $250 million in common stock to Ares Management ($200 million) and company chairman and CEO Tom Ward ($50 million). The Ares commitment is subject to reduction in the event that certain existing shareholders exercise their right to acquire a portion of the shares.
SGS International Inc., a provider of consumer product packaging services, said that its Canadian subsidiary has acquired Synnoflex Inc., a pre-press services company based in Québec. No financial terms were disclosed. SGS is a portfolio company of Court Square Capital Partners.
Soros Private Equity Partners is among several private equity firms circling fashion designer Nanette Lepore, according to the NY Post. The company had 2006 sales of approximately $85 million.
Star Capital Partners has made two purchases in the flight simulator space: A majority stake of General Electric Commercial Aviation Training (GECAT) from General Electric’s Commercial Aviation Services business (GECAS) and SAS Flight Academy from SAS AB. The deals value the combined businesses at more than $275 million, and are expected to close within the next month.
Sun Capital Partners has acquired Scott Brass Inc., a Cranston, R.I.-based miller of brass and copper stripping. No financial terms were disclosed.
Superior Vision Services Inc., a Rancho Cordova, Calif.-based provider of managed vision care plans, has completed a $54.25 million recapitalization. The deal included $19.25 million of equity led by ABS Capital Partners and sourced by DCA Capital Partners, while the $35 million debt tranche was provided by ORIX Venture Finance.
Texas Pacific Group reportedly has joined the CVC-led consortium that is circling British supermarket chain J. Sainsbury PLC. Blackstone and KKR already are part of the group, which is expected to bid upwards of £11 billion. Reports also suggest that GS Capital Partners may participate.
TI Automotive has agreed to sell its Industrial Group businesses—Bundy Refrigeration, Walbro Engine Management and VARI-FORM—to Sun Capital Partners. No financial terms were disclosed.
Timberland Co. (NYSE: TBL) has called off its auction, according to The Deal. The Stratham, N.H.-based boot and clothing company had hired Goldman Sachs last year to run the process and had received interest from both strategic and private equity suitors. No word on why the company has opted to remain independent and public.
Tom Hicks and George Gillett have agreed to acquire soccer club Liverpool FC for £174 million. The deal was struck after rival bidder Dubai International Capital dropped out of the bidding. Hicks already owns the Texas Rangers (baseball) and Dallas Stars (ice hockey), while Gillett owns the Montreal Canadiens (ice hockey) and used to run both the Miami Dolphins and Harlem Globetrotters.
Trevi Health Ventures has formed Interventional & Surgical Innovations LLC, a development platform company for early-stage medical device technologies with an initial focus in the cardiovascular space. No terms of Trevi’s financial commitment were disclosed. The firm is launching ISI in partnership with Peter Hinchliffe, who has held senior management positions at the Interventional and Intervascular divisions of Datascope and, prior to that, at Tyco Healthcare’s US Surgical division.
WCI Communities Inc. (NYSE: WSI) has retained Goldman Sachs to explore strategic and financial alternatives that could include a sale of the company. The luxury condominium builder has a market cap of around $920 million.