3i Group portfolio company Norma, a maker of vehicle clamps, is planning to float on the Frankfurt Stock Exchange during the second half of 2011, Reuters reported. The company aims to raise about €150 million ($208.1 million) through the offering.
Bain Capital Partners, J.P. Morgan Partners and Thomas H. Lee Partners are among those selling stakes in publicly traded Warner Chilcott plc. The company announced a secondary offering of 25 million of its ordinary shares. The company will not receive proceeds from the sale, but will pay the expenses of the offering, according to a press release.
New York-based Blue Wolf Capital Partners LLC has sold Chicago-based Healthcare Laundry Systems to Crothall Services Group. An affiliate of Blue Wolf created Heathcare Laundry in November 2008 through acquisitions of assets from a consortium of not-for-profit hospitals. As its name implies, the company provides laundry services for health care facilities. Terms of the sale were not released.
The Carlyle Group has closed its previously announced sale of a majority stake in JMC Steel Group to the Zekelman family. Carlyle is retaining a minority interest, a statement said. Financial terms were not disclosed. Beachwood, Ohio-based JMC is an independent tube manufacturer.
CVC Asia Pacific portfolio company Nine Entertainment has sold its stake in carsales.com for $565 million, Reuters reported. The sale was aimed at cutting debt and taking advantage of a recent rally in the shares of the Australian online car classifieds business, Reuters wrote. CVC has been considering an initial public offering for Nine Entertainment, and recently hired Credit Suisse, Goldman Sachs and UBS to advise on an IPO.
German chemicals maker Evonik said it is considering selling a stake in its real estate division, Reuters reported. The company is partially owned by private equity firm CVC, which stated recently that the real estate division could be included in Evonik’s planned initial public offering, Reuters said.
General Mills is set to buy the 50 percent stake of yogurt maker Yoplait owned by PAI Partners. The food giant will pay about €800 million ($1.1 billion) for the stake, Reuters reported. The deal values Yoplait at €1.6 billion, which is four times the value of the business when PAI Partners invested in 2002, Reuters said. French dairy cooperative Sodiaal will retain the remaining 50 percent of the business.
Golden Gate Capital has sold most of its stake in Apogee Retail LLC, a secondhand goods retailer, to Savers Inc., a strategic buyer. The firm, which invested in Apogee in 2007, will continue to hold a small stake in the business. Terms of the transaction were not disclosed; McColl Partners’s Brian Davis and Lorin J. DeMordaunt worked on the transaction.
Golden Gate Capital has agreed to sell a majority stake in clothing retailer J. Jill to Arcapita Bank Golden Gate Capital will remain a minority shareholder of the company. Financial terms of the deal were not released. Golden Gate Capital bought the J. Jill apparel brand from Talbots Inc. in 2009, paying approximately $75 million. Arcapita is an investment bank headquartered in Bahrain.
Kohlberg Kravis Roberts & Co. portfolio company MMI Holdings has cancelled its 1 billion Singapore dollar ($785.7 million) initial public offering due to recent market volatility, Reuters reported. KKR took MMI private in 2007 in a deal valued at 1.01 billion Singapore dollars. MMI is a precision engineering firm specializing in electrical and mechanical parts for computer hard disks.
Kosmos Energy, which is backed by private equity firms The Blackstone Group and Warburg Pincus, is lining up a bank group to secure $2 billion of seven-year debt in advance of its planned initial public offering, Reuters reported. Kosmos Energy is the owner of 23.9 percent of the Jubilee oil field in Ghana.
Nordic Capital is planning to list Swedish auto parts company FinnvedenBulten, Reuters reported. The firm has brought on Swedish banks Handelsbanken and Carnegie to act as its financial advisers. An exact date for the initial public offering was not released.
Indian generator maker Powerica Ltd, which is backed by the private equity arm of Standard Chartered, has filed a prospectus to raise $200 million in an initial public offering, Reuters reported. The Mumbai-based company is expected to launch the IPO in June, Reuters said. Standard Chartered private equity owns 12 percent of the company, having invested $50 million in Powerica in 2007. The firm will sell a significant portion of its holding in the company, Reuters wrote.
Chinese Internet company Qihoo 360 Technology Co. Ltd plans to raise up to $200 million in an initial public offering, Reuters reported. The IPO would provide an exit for investors including Sequoia Capital, Highland Capital, Redpoint Capital, Matrix and IDG. UBS Investment Bank and Citi are leading underwriters. Quihoo is a provider of Internet and mobile security products.
Sun Capital Partners has sold Bruegger’s Enterprises to Groupe Le Duff SA. Financial terms were not announced. Brueggers is an operator and franchiser of fast casual bakery cafes.
TPG Capital aims to sell its indirect stake in Indian commercial vehicle lender Shriram Transport Finance Co. for as much as $1 billion, Reuters reported, citing an article in the Times of India. In 2005, TPG’s Newbridge fund invested $100 million for 49 percent in Shriram Holding. The firm’s indirect stake in the transportation financing unit is estimated at more than 20 percent, Reuters said.
Zillow Inc., a real estate data company backed by Legg Mason Capital Management, Benchmark Capital and PAR Capital Management, has hired Citigroup to manage its initial public offering, Reuters reported, citing a Bloomberg story. The exact timing of the IPO was not released. Zillow is based in Seattle.