Private Exits

Admiralty Partners and Hastings Equity Partners have sold submarine cable manufacturer Seacon Phoenix Inc. for $38 million to Amtek Inc. (NYSE: AME).

Agribusiness Partners International has agreed to sell Russian poultry processor Chicken Kingdom to the Cherkizovo Group (LSE: CHE). No financial terms were disclosed. API is a $100 million private equity fund formed in 1996, with the support of OPIC.

ArcLight Capital Partners and Competitive Power Ventures have agreed to sell CPV Wind Ventures LLC to Spain-based Iberdrola SA. No financial terms were disclosed for the deal, which is expected to close early next month. CPV Wind owns a portfolio of wind-power projects totaling 3,500 megawatts across 15 states. It also has a contract for a large block of General Electric wind turbines to support the development portfolio.

The Blackstone Group has agreed to sell Extended Stay Hotels to the Lightstone Group for $8 billion. Blackstone will retain a 10 percent stake in Extended Stay, which it acquired in 2004 for approximately $3.13 billion (including $1.13 billion in assumed debt).

Google (Nasdaq: GOOG) has agreed to acquire online marketing company DoubleClick Inc. from Hellman & Friedman and JMI Equity for $3.1 billion in cash. H&F led a $1.1 billion buyout of DoubleClick in 2005, with JMI Equity participating as a minority investor.

Hachette Filipacchi Media US, publisher of such magazines as Car & Driver, has agreed to acquire Jumpstart Automotive Media, a San Francisco-based vertical advertising network focused exclusively on the automotive industry. The deal includes an initial cash payment of $84 million, plus up to $26 million in earnouts in 2008 and 2010, based on reaching of certain specified earnings targets. Jumpstart Automotive Media raised $10 million last summer from Alta Communications, at a post-money valuation of approximately $40 million.

Intelsat Ltd., the world’s largest commercial satellite operator, reportedly is on the block for up to $6 billion, with Blackstone having expressed interest. The company was acquired in August 2004 by Apollo Management, Madison Dearborn Partners, Apax Partners and Permira. One year later, it acquired rival PanAmSat for around $3.2 billion.

Investcorp has completed its sale of Harborside Healthcare Corp. to Sun Healthcare Group Inc. (Nasdaq: SUNH). The deal includes $349.4 million in cash for Harborside’s equity, while Sun also entered into a new $485 million senior secured credit facility led by Credit Suisse. Harborside is a Boston-based operator of 73 skilled nursing facilities, one assisted living facility and one independent living facility with approximately 9,000 licensed beds in ten states.

ISIS Equity Partners has sold Martin Audio Ltd. to LOUD Technologies (Nasdaq: LTEC) for £17.25 million. Martin Audio is a UK-based manufacturer of loudspeaker systems for the professional audio markets. It was acquired by ISIS in 2003, via a buyout from former parent company TC Group AS.

Linsalata Capital Partners has agreed to sell Adorn LLC to Patrick Industries Inc. (Nasdaq: PATK). No financial terms were disclosed. Adorn is an Elkhart, Ind.-based maker of interior components to the recreational vehicle and manufactured housing industries.

Natural Gas Partners has agreed to sell Gulf Coast oil and gas exploration company Goldking Energy Corp. to Dune Energy Inc. (Amex: DNE). The total deal is valued at $320.5 million, including $302.5 million in cash and $18 million newly-issued Dune shares.

Parallax Capital Partners has agreed to sell MultiGen Paradigm Inc. to CAE (NYSE: CGT) for US$16 million. MultiGen is a Richardson, Texas-based provider of real-time, commercial off-the-shelf software for creating and visualizing simulation solutions.

Welsh, Carson, Anderson & Stowe has agreed to sell diagnostics testing company Ameripath to Quest Diagnostics (NYSE: DGX). The deal is valued at approximately $2 billion, including $770 million in debt. The deal is expected to close later this quarter. WCAS acquired Ameripath in 2003 for approximately $840 million.

The Wicks Group of Cos. has retained Credit Suisse Securities to explore strategic alternatives for horse-racing content provider Daily Racing Form LLC, including a possible sale.