Apollo Global Management LP has agreed to sell U.S. oil and gas company Parallel Petroleum to South Korea’s Samsung C&T and state-run oil firm KNOC in a deal that enables the Samsung Group to expand its natural resources business, Reuters reported. Samsung C&T confirmed the deal on Wednesday, though it would not disclose the price. A source close to the deal told Reuters that Samsung C&T and KNOC agreed to pay $772 million to Apollo.
Arle Capital Partners
said it had agreed to sell Capital Safety Group to Kohlberg Kravis Roberts & Co. in a deal valued at $1.12 billion. The transaction is expected to close in January. The sale represents a return of 2.7x for Arle. Capital Safety makes safety equipment to protect against falls. Arle is the former buyout arm of Candover Investments. Christian Hess and James Simpson of UBS advised on the sale.
Baring Private Equity Asia
portfolio company Courts Asia, an electronics and furniture retailer that operates in Singapore and Malaysia, announced plans to set up new stores but said it was keeping its options open about an initial public offering, Reuters reported. Reuters said in October that an investor group led by Baring Private Equity Asia was looking to sell Courts for over S$500 million ($384.88 million) and had hired HSBC and BNP Paribas to manage the sale.
Brockway Moran & Partners portfolio company Tri-Star Electronics International has been acquired by an affiliate of Carlisle Cos. Inc. for $285 million. Tri-Star is a manufacturer of electronic interconnect components and assemblies for commercial aerospace, defense and industrial applications.
has completed its sale of National Pretzel Co. to ConAgra Foods Inc. Terms of the deal, originally announced in November, were not released. National Pretzel is based in Lancaster, Pa.
CVC Capital Asia has sold shoe repair company Minit Asia Pacific to Japan’s Unison Capital, Reuters reported. Minit Asia provides services for repairing shoes and bags. The sale is CVC Capital’s third attempt to sell the company, Reuters wrote.
Snow and ice control equipment manufacturer Douglas Dynamics has announced a public offering of 1,996,479 shares of its common stock by certain of its stockholders, including Aurora Capital. The company will not sell any shares in the offering and will not receive any of the proceeds from the offering. Upon consummation of the offering, Aurora Capital will cease to own any shares of the company. Michael Marino and Mark Rosenbaum of Aurora Capital Group are leaving the company’s board of directors in conjunction with the exit.
Harvest Partners has recapped of Document Technologies, providing a “successful liquidity event” for Quad-C Partners VII LP, the firm announced. No terms of the deal were disclosed. Atlanta-based Document Technologies is a provider of outsourced litigation support services, including facilities management services and electronic and paper discovery.
Mobile operator Hutchison 3G is offering €1.4 billion ($1.87 billion) to buy larger rival Orange Austria, Reuters reported. France Telecom owns 35 percent of Orange Austria, and private equity firm Mid Europa Partners owns the other 65 percent.
South Korea’s Hyundai Heavy Industries and Daewoo Shipbuilding & Marine Engineering are each mulling bids for French engineering company GTT, Reuters reported. The potential bids are estimated at about €1 billion ($1.3 billion). GTT’s three shareholders—GDF Suez, the world’s biggest utility by market value, French oil company Total and U.S. private equity firm Hellman & Friedman—are planning to sell their stakes, Reuters wrote.Activist investor Carl Icahn reported in a regulatory filing that he sold 2.9 million shares of Motorola Mobility Holdings for $114 million, Reuters reported. The 2.9 million shares were sold at a slightly lower price than Google’s offer of $40 a share for Motorola Mobility, according to Reuters.
The Jordan Company announced that a group of investors, led by The Resolute Fund LP, completed the sale of Wound Care Holdings to National Healing Corp. Terms of the transaction weren’t disclosed.
Kohlberg & Co. has agreed to sell portfolio company Niagara LaSalle Corp. to Optima Specialty Steel. Harris Williams, an investment bank that announced the deal, said it advised Niagara LaSalle on its pending sale. Niagara makes cold finished steel bars. Optima Specialty Steel is a subsidiary of Optima Acquisitions, a U.S.-based investment firm with affiliated holdings in steel, mining, real estate and other industries.
Lone Star has agreed to cut the price of its 4.4 trillion won ($3.9 billion) stake sale in Korea Exchange Bank to Hana Financial Group Inc. by about 11 percent, Reuters reported. Lone Star bought into KEB in 2003 and has seen two failed sales attempts—first to Kookmin Bank for $7.6 billion in 2006 and to HSBC Holdings plc for $6.3 billion in 2008, Reuters wrote.
has appointed Carnegie and SEB Enskilda as advisers for the sale or public listing of Swedish industrial packaging firm Nefab, Reuters reported. The value of a potential deal has been estimated between 2 billion crowns ($286 million) and €350 million ($464 million), Reuters wrote.
Mid-market New York and Los Angeles firm Odyssey Investment Partners has acquired TNT Crane and Rigging from MML Capital Partners in a secondary buyout transaction. TNT is a mobile crane rental company serving the Texas, Louisiana and Oklahoma region. Financial terms of the transaction were not disclosed.
The Ontario Teachers’ Pension Plan has cancelled plans to sell its 80 percent stake in Maple Leaf Sports and Entertainment Ltd, owner of Toronto’s big-league hockey and basketball teams, Reuters reported. Teachers suggested a possible sale of the stake in March, after several unsolicited expressions of interest, Reuters wrote.
Ratos portfolio company Contex Group has agreed to sell its Z Corp. and Vidar Systems units to publicly traded 3D Systems Corp. for $137 million in cash. Z Corp. is a provider of personal and professional 3D printers, 3D scanners and other print materials and services. Vidar Systems is a provider of optical imaging technology for the medical and dental imaging markets.
The Riverside Company has sold Crisis Prevention Institute Inc. to Brockway Moran and Partners. Terms of the deal, which closed Nov. 18, were not released. Based in Milwaukee, Crisis Prevention Institute is a training organization specializing in the safe management of crisis situations and disruptive behavior.
Triton has hired Deutsche Bank and Handelsbanken to advise it on a sale of portfolio company Bravida, which provides installation services for buildings and plants, Reuters reported. The company could fetch an estimated $1 billion. Triton, which focuses on companies in the Nordic countries and in German-speaking parts of Europe, bought Bravida at the end of 2006, Reuters wrote.
Canada’s Valeant Pharmaceuticals International has agreed to buy Australia’s iNova Pharmaceuticals for A$625 million ($623 million) upfront, writes Reuters. The deal marks an exit for buyout firms Archer Capital and Ironbridge. Valeant said the deal includes an additional A$75 million in potential milestone payments based on the success of pipeline activities, Reuters reported. This is the latest in a string of sales by private equity firms in Australia in recent months as they exit investments made in the boom years, according to Reuters.