ABRY Partners has agreed to sell Raleigh, N.C.-based Hosted Solutions to publicly traded Windstream Corp. for $310 million. Boston-based ABRY bought Hosted Solutions, a provider of data center and managed Web services, in 2008 for roughly $140 million.
has sold its stake in Chinese paper packaging manufacturer Inpac International to Stora Enso, a paper and wood products company based in Helsinki and Stockholm. Financial terms of the deal were not released. Actis, which has offices in Beijing, bought its 30 percent stake in Inpac in 2007 for $17.7 million.
AZ Electronic Materials, which produces chemicals used in Apple iPads, aims to raise $700 million in a London IPO, Reuters reported. The company, which is owned by private equity shops The Carlyle Group and Vestar Capital Partners, had previously set the IPO target at $400 million. The offering from the London-based company is set to be Britain’s third largest this year.
BankUnited, a Florida bank that was one of the first to be taken out by private equity firms during the financial crisis, has filed for an initial public offering that could raise as much as $300 million. BankUnited was acquired last year by a consortium of private equity firms including Washington, D.C.-based The Carlyle Group and New York-based Blackstone Group.
Indian paper maker Ballarpur Industries plans to form a new holding company for its Ballarpur International Graphic Paper Holdings and list the subsidiary on the London Stock Exchange, Reuters reported. Ballarpur International Graphic Paper Holdings is partially owned by private equity funds JPMorgan Mauritius Holdings VII Ltd. and Lathe Investments PTE Ltd.
Negotiations have stalled to sell United Biscuits, a UK-based company owned by private equity firms Blackstone Group and PAI Partners, to Shanghai-based Bright Food Group, Reuters reported, citing the Wall Street Journal. The deal reportedly could have been valued at more that £2 billion ($3.17 billion).
Charlesbank Capital Partners has sold Blacksmith Brands Holdings to Prestige Brands for $190 million. The deal includes an additional working capital adjustment of $13.4 million. Charlesbank is a mid-market buyout firm with offices in Boston and New York. Prestige, of Irvington, N.Y., markets and sells consumer brands like Chloraseptic sore throat treatments, Clear Eyes eye care products and Compound wart removers. Blacksmith’s brands include Efferdent denture cleanser, Effergrip denture adhesive and Luden’s throat drops.
Wind farm developer First Wind Holdings has put its IPO on hold after cutting its price range by 24 percent, Reuters reported. Boston-based First Wind, which is funded by private equity firm Madison Dearborn and hedge fund operator D.E. Shaw, originally aimed to raise $300 million from the offering. The company faced skepticism from investors due to a heavy debt load, Reuters reported.
Publicly traded GT Solar International said that it will pay $203 million to buy back 26.5 million shares held by its private equity investors, which include Oaktree Capital Management. The company will pay $7.66 per share, a 13 percent discount to the company’s closing price on the last day of trading before the agreement was announced. Following the close of the deal, Oaktree Capital will own about 9.4 percent stake in the company.
Harrah’s Entertainment, which is owned by private equity firms TPG Capital and Apollo Management, will raise about $500 million in an initial public offering, Reuters reported. The company plans to sell 31.25 million shares, or 9.3 percent of the company, at $15 to $17 each. The company will also change its name to Caesars Entertainment.
Lion Capital said it has agreed to buy the operating companies of Bumble Bee Foods, which is owned by Centre Partners Management. Financial terms were not announced. The deal is expected to close by year-end, a statement said. San Diego-based Bumble Bee Foods, which supplies shelf-stable seafood, is known for its Bumble Bee tuna and King Oscar Sardines. Centre Partners, with offices in New York and Los Angeles, is a buyout firm. London-based Lion Capital is a consumer focused investment firm.
MBK Partners has agreed to sell Taiwanese cable operator China Network Systems to a consortium of investors led by Taiwan’s Want Want China Holdings, Reuters reported. Financial terms were not disclosed, though Reuters valued the deal at more than $2 billion, and named Taiwan cable company ETTV among the other investors. Seoul-based MBK Partners, which has more than $3.7 billion under management, bought China Network Systems for $1.5 billion in 2007.
Online comparison shopping company Nextag has acquired NextCoupons.com, an online coupon provider based in Santa Monica, Calif. Financial terms of the deal were not released. Nextag is based in San Mateo, Calif., and is backed by Providence Equity Partners, Morgenthaler Ventures and Technology Crossover Partners.
Palladium Equity Partners said it has completed the sale of Castro Cheese Co. to Dairy Farmers of America. Financial terms were not disclosed. Palladium is a buyout firm from New York. Houston-based Castro Cheese makes and markets queso fresco and other varieties of Hispanic cheeses and creams.
Spire Capital Partners, a private equity firm with offices in New York and West Conshohocken, Pa. has sold Highline Financial, to Thomson Reuters, publisher of Buyouts, Thomson Reuters said. Financial terms were not disclosed. Austin-based Highline Financial is a financial information and analytics provider focused on the U.S. banking system. Thomson Reuters, of New York, is a global news and data provider. The Jordan, Edmiston Group provided financial advice to Highline.
U.S. investment group Starwood Capital has reached a deal to sell the Hotel de Crillon to a group of Saudi investors with ties to the royal family, Reuters reported, citing an article from the French daily Le Figaro. The unnamed buyers will pay €250 million ($353.6 million) and may also need to spend another €100 million to restore the famed Paris hotel, which is located near the Champs Elysees.
Sun Life Assurance Co. said it has agreed to sell its life reinsurance business to Warren Buffett’s Berkshire Hathaway. Financial terms were not disclosed. Sun Life Assurance is owned by Sun Life Financial, a Canadian insurer.
Sunstone Capital portfolio company Zealand Pharma, a Danish biotech firm, aims to raise up to $140 million in an initial public offering, Reuters reported. The company will offer nearly 9 million new shares priced between 86 and 120 crowns ($16.2-22.6) each. The company expects its shares to begin trading on the Copenhagen bourse by November 19.
Welsh Carson Anderson & Stowe has agreed to sell portfolio company US Oncology to McKesson Corp. for about $2.16 billion, including debt, McKesson said. The deal is expected to close by the end of McKesson’s fiscal third quarter, which is Dec. 31. San Francisco-based McKesson is a health care services and information technology company. US Oncology, of The Woodlands, Texas, is an integrated oncology company. Welsh Carson, a private equity firm, invested in US Oncology in 2004.
Canadian ski resort operator Whistler Blackcomb Holdings priced its IPO at $12 Canadian ($12), Reuters reported. Whistler Blackcomb is owned by Intrawest, a company owned by buyout firm Fortress Investment Group. The closing of the IPO is set for Nov. 9. Fortress will retain a roughly 34 percent ownership of Whistler Blackcomb after the IPO, Reuters reported.