Bain Capital completed its sale of Dutch coatings company SigmaKalon Group to PPG Industries (NYSE: PPG) for approximately €2.2 billion, including assumed debt. SigmaKalon was created in 1999 from the merger of Total’s Kalon Group and PetroFina’s Sigma Coatings, and was acquired by Bain Capital in 2003. Sales have increased from approximately €1.7 billion in 2003 to approximately €2 billion in 2006.
Electronic Arts Inc. (Nasdaq: ERTS) has completed its acquisition of gaming companies BioWare Corp. and Pandemic Studios from Elevation Partners. Elevation acquired BioWare and Pandemic in 2005 for more than $300 million, and put them under a holding company umbrella called VG Holding Corp. EA chief executive John Riccitiello had recused himself from negotiating terms of the deal, as he is a former partner with Elevation.
Middleby Corp. (Nasdaq: MIDD) has completed its $188 million acquisition of New Star Holdings International Inc. from Weston Presidio and Beechtree Capital Partners. New Star is a St. Louis-based manufacturer of commercial foodservice equipment and is being advised on the transaction by Harris Williams & Co.
Sun Capital Partners has sold inorganic chemicals maker Searles Valley to Nirma Ltd., a producer of synthetic soda ash. No financial terms were disclosed.
Tredegar Corp. (NYSE: TG) has agreed to sell its aluminum extrusions operations in Canada for $25 million to WXP Holdings Inc., an affiliate of H.I.G. Capital.