Altitude Capital Partners has sold the entire patent portfolio of Saxon Innovations LLC to Norman IP Holdings LLC and RPX Corp. No financial terms were disclosed. Saxon was formed in August 2007 to buy around 180 patents from Legerity Corp., which previously was a spinout from AMD Corp.
Apax Partners plans to sell 5 million shares of common stock in Rue21 (Nasdaq: RUE), a Warrendale, Penn.-based youth clothing retailer, via a secondary public offering. Apax would still hold nine million shares following the offering, which represents more than a 37 percent ownership stake. Rue21 went public last November at $19 per share, and closed trading yesterday at $27.93 per share. Apax did not sell any shares in the IPO.
Battery Ventures has agreed to sell Nova Analytics Corp., a Woburn, Mass.-based provider of lab and field equipment for electrochemical measurements, to ITT Corp. (NYSE: ITT). No financial terms were disclosed, except that Nova has annual revenue in excess of $160 million. Battery acquired Nova Analytics in 2003, and has since helped the company make nine acquisitions.
Blackstone Group is seeking to sell Gold Toe-Moretz, a sock maker, according to the New York Post. The firm seeks around $450 million.
Chesapeake Midstream Partners has filed for a $345 million IPO. It plans to trade on the NYSE under ticker symbol CHM, with Citi and Morgan Stanley serving as co-lead underwriters. The Oklahoma City-based company was formed in 2008 as a 50/50 joint venture between Chesapeake Energy Corp. (NYSE: CHK) and Global Infrastructure Partners. As part of the deal, GIP paid Chesapeake $588 million.
Express, a Columbus, Ohio-based retail apparel brand and retailer, has filed for a $200 million IPO. It plans to trade under ticker symbol EXPR, with Goldman Sachs and BoA Merrill Lynch serving as co-lead underwriters. The company reports approximately $1.74 billion in net sales for the first 39 weeks of 2009 (through Oct. 31), compared to $1.23 billion for the same period in 2008. Its net income for the 2009 period was around $29 million, compared to a $1.89 million loss the previous year. Golden Gate Capital acquired a 67 percent interest in Express in July 2007, for $548 million. The seller was Limited Brands Inc. (NYSE: LTD), which remains an Express shareholder.
Generac Holdings Inc., a Waukesha, Wis.-based maker of standby and portable generators, raised around $243.8 million via an IPO. The company priced 18.75 million shares at $13 per share, compared to plans to offer 20.3 million shares at between $15 and $17 per share. It will trade on the NYSE under ticker symbol GNRC, while J.P. Morgan and Goldman Sachs served as co-lead underwriters. CCMP Capital and Unitas Capital bought Generac for approximately $2 billion in late 2006. The post-IPO market cap is just over $852 million.
Goldman Sachs has agreed to buy Metro International Trade Services, a warehouser of non-ferrous metals for customers of the London Metal Exchange, from Monitor Clipper Partners. No financial terms were disclosed.
Gordon Brothers Merchant Banking has sold Canadian chocolate maker Laura Secord to Nutriart Inc., a Quebec-based chocolate manufacturer, for $19.5 million. Gordon Brothers had paid $27.6 million for the company in 2004, according to local reports.
Graham Packaging Co., a plastic container maker owned by The Blackstone Group, raised $167 million via an IPO. The company priced 16.7 million shares at $10 per share, compared to original plans to offer 23.33 million shares being at between $14 and $16 per share. It will trade on the NYSE under ticker symbol GRM, while Citi, Goldman Sachs and Deutsche Bank Securities served as co-lead underwriters.
HgCapital Trust PLC (LSE: HGT) plans to raise between £30 million and £50 million next month, via an issuance of new shares. The firm has a current market cap of £210 million.
Lone Star Funds said it plans to sell its majority stake in Korea Exchange Bank within the next six months.
Lloyds Banking Group reportedly remains in the early stages of considering options for its private equity unit, which has garnered interest from at least five buyout firms.
Medica, a French care homes operator backed by AXA Private Equity and BC Partners, said that an over-allotment option on its IPO pushed proceeds past $400 million.
Merlin Entertainments, a theme park operator owned by The Blackstone Group, said that it has no near-term plans to go public. Last fall, Reuters reported that Blackstone had called in various banks to discuss the possibility of a £2 billion flotation in March.
New Look, a U.K. fashion retailer backed by Apax Partners and Permira, has indefinitely postponed its planned $1 billion IPO.
Niska Gas Storage, a Gridley, Calif.-based owner and operator of natural gas storage assets in North America, has filed for a $402.5 million IPO. It plans to trade on the NYSE under ticker symbol NKA. No underwriters are listed. The Carlyle/Riverstone Global Power and Energy Fund acquired Niska Gas Storage in 2006 from EnCana Corp. (NYSE: ECA).
Oak Hill Capital Partners has agreed to sell New York-based drug store chain Duane Reade to Walgreen Co. (NYSE: WAG), for $1.075 billion. Oak Hill bought Duane Reade for $700 million in 2004, and later provided $125 million in equity recap funding.
Providence Equity Partners plans to publicly list German cable television operator Kabel Deutschland in a €1 billion IPO, abandoning plans to sell it for up to €5.5 billion.
TBA Global, a portfolio company of J.H. Whitney & Co., has sold its U.S.-based Destination Management Services operations to Switzerland’s Kuoni Travel Holding Ltd. No financial terms were disclosed. Edgeview represented TBA on the sale.
Travelport, a New York-based travel services company owned by The Blackstone Group, has called off its $1.28 billion London IPO, citing poor market conditions. The deal would have valued Travelport at $3.13 billion, were it to have priced in the middle of its offering range.
Windstream Corp. (WIN.N) has completed its previously-announced acquisition of NuVox Inc., a Greenville, S.C.-based CLEC. The deal is valued at $643 million, including $280 million in cash, $183 million in stock and the assumption of $180 million in debt. NuVox has received equity backing from firms included M/C Venture Partners, KKR, Columbia Capital and Wachovia Capital Partners.