The Blackstone Group is in talks with British outsourcing group Serco to sell its stake in India’s Intelenet Global Services, Reuters reported, citing an article from the Financial Times. Blackstone currently owns 66 percent of Intelenet.
Blue Wolf Capital Partners and Atlas Holdings exited Northern Resources Nova Scotia Corp., selling it to a strategic buyer in Paper Excellence Canada Holdings Corp. Specifics on the transaction and bankers were not disclosed.
Boingo Wireless Inc.
’s initial public offering of 5.77 million shares was priced at $13.50 each. Shares of the provider of commercial mobile Wi-Fi Internet solutions will change hands on the NASDAQ Global Market under the symbol “WIFI.” Boingo is offering about 3.85 million of the shares and selling stockholders are offering about 1.92 million. Credit Suisse and Deutsche Bank Securities are acting as joint book-running managers. Los Angeles, Calif.-based Boingo is backed by Evercore Partners, Mitsui & Co. and New Enterprise Associates Inc.Constellation Energy, the listed, Baltimore-based energy company, will buy MXenergy in an all-cash deal totaling $175 million. Denham Capital Management, Charterhouse Group and Sempra Energy Trading have each thrown their support behind the transaction. BofA Merrill Lynch acted as financial adviser to MXenergy on the transaction as well as on the replacement and termination of the Sempra Energy Trading supply facility, and Duff & Phelps delivered a fairness opinion to the MXenergy board of directors.
A CVC Capital Partners portfolio company, the luggage maker Samsonite has approval from the listing committee of the Hong Kong stock exchange for an initial public offering, Reuters reported. The IPO could raise as much as $1.5 million, Reuters said.
Emeritus Corp. agreed to pay $99 million to take full ownership of 24 properties it owns jointly with The Blackstone Group LP‘s real estate arm, Reuters reported. The transaction values the properties at $310 million, factoring in debt reduction and incentives for rising cash flows, Emeritus said. Emeritus is a Seattle, Wash.-based provider of assisted-living housing. Emeritus and Blackstone acquired the properties for $190 million in 2007, with Blackstone picking up an 81 percent stake.
Francisco Partners has exited its investment in Mincom Pty Ltd, selling the company to ABB Ltd. Terms of the deal were not released. Mincom is the maker of an asset management software platform. Jefferies & Co. advised Mincom on the deal.
Global Equity Capital has sold Voicecom Telecommunications, which does business as Intelliverse, to Amvensys Telecom Holdings. Financial terms were not announced. Atlanta-based Intelliverse provides communications services in the business-to-business market. Peter A. Sokoloff & Co. provided financial advice to Intelliverse.
West Coast shop Hanover Partners is selling Solidscape Inc., a maker of 3D printer systems, to Stratasys, a similar manufacturer. The exit from Solidscape generated a 2.5x cash-on-cash return for lead investors Hanover Partners and Tuckerman Capital, during a nearly five-year investment period. Hanover has offices in Portland, Ore., and San Francisco.
Monument Capital Partners along with partners John Campbell and Joe Mansfield, have completed the sale of Separators Inc. to a strategic buyer. Founded in 1985, Separators is an Indianapolis-based company that specializes in servicing and remanufacturing industrial centrifuge equipment. Monument Capital, Campbell and Mansfield acquired Separators in June 2005.
Nordic Capital has applied to list its portfolio company FinnvedenBulten, a Swedish auto parts maker, on the Stockholm stock exchange, Reuters reported. The value of the offering would be between 614 million and 695 million crowns ($92.6 million to $105 million), Reuters wrote. Nordic Capital acquired the company in 2005.
Tennessee firm River Associates has sold its interest in Coining Holding Co. to AMETEK Inc. for $148 million. The deal generated a gross IRR of 76 percent and netted River Associates 6x its initial investment. Mike Brookshire worked on the deal for the firm; River Associates bought the controlling stake in Coining in August 2007 and made growth investments to support its development.
Roper Industries has agreed to buy Northern Digital, which is backed by the Audax Group. Financial terms were not disclosed. The sale is expected to close in second quarter. Northern Digital, of Ontario, provides optical and electromagnetic measurement systems for medical and industrial applications. News of the sale was disclosed by Harris Williams, which advised Northern Digital.
Samsonite is aiming to hold a listing hearing with the Hong Kong stock exchange in late May as part of its preparation for an initial public offering, Reuters reported. Before launching an IPO, all companies must meet the exchange to get a formal approval to go public. Luxembourg-based luggage maker Samsonite is owned by private equity firm CVC and the Royal Bank of Scotland. The company is expected to raise up to $1.5 billion in the offering.
Spansion Inc. agreed to acquire certain bankruptcy claims held by SL Capital Appreciation Fund LLC, Silver Lake Sumeru Fund LP and Silver Lake Credit Fund LP. The deal has a purchase price of $29 million and has been approved by the board of Spansion, which is a Sunnyvale, Calif.-based provider of flash memory technology.
Sun Capital Partners has exited its Big 10 Tires investment, selling it to Pep Boys, the automotive aftermarket service and retail chain that itself considered selling before failing to get a sufficient bid. The private equity firm acquired Big 10 through an affiliate in 2006. Morgan, Lewis & Bockius LLP acted as legal adviser to the sellers in connection with the transaction.
Japanese drugmaker Takeda Pharmaceutical Co. is in talks to buy Swiss rival Nycomed in a deal that could reach about $14.2 billion, Reuters reported, citing a story by Bloomberg. Nycomed is owned by Nordic Capital and Credit Suisse Group AG’s private-equity unit. A deal for the company could be announced as early as next week, Reuters said.
Thomas H Lee Partners will make a return of about two times its original $655 million investment on sale of Warner Music Group to Access Industries, Reuters reported. Boston-based THL Partners was the largest private equity investor in the $2.6 billion buyout of Warner Music in 2004.
Vestar Capital Partners portfolio company Essent Healthcare has sold a pair of Massachusetts hospitals to Steward Healthcare System LLC of Boston. The firm invested in the hospital system through its fourth fund.