Private Exits

Advent International has agreed to sell Bolix, a Polish provider of exterior insulation finish systems to the B2B market, to Berger Paints India Ltd. No financial terms were disclosed.

Albertson’s LLC has agreed to sell 72 convenience stores and fueling kiosks to Valero (NYSE: VLO). No financial terms were disclosed. Albertson’s was taken private in 2006 by Cerberus Capital Management, Kimco Realty Corp., CVS Caremark and Supervalu Inc.

Baird Capital Partners and other shareholders have sold ArmorGroup International PLC, a UK-listed provider of defensive and protective security services in markets like Iraq and Afghanistan, to G4S for £44 million. Baird originally sponsored a management buyout of ArmorGroup from Armor Holdings Inc. (now part of BAE Systems) in 2004. It realized most of via a flotation, but retained a 31 percent equity stake.

Crystal Food Services, a unit of Sun Capital Partners portfolio company Marsh Supermarkets, has sold most of its catering contracts to Centerplate Inc. (AMX: CVP). No financial terms were disclosed. 

Current Group LLC has agreed to sell its existing smart-grid network in Dallas to Oncor Electric Delivery Co. for approximately $90 million. The transaction also includes the sale of some equipment. Current Group is a Germantown, Md.-based provider of broadband-over-powerline solutions, and has raised over $280 million from firms like Liberty Associated Partners, Goldman Sachs, GE Equity, EarthLink, EnerTech Capital and Hearst Corp.

EQT Partners has sold its remaining 22 percent stake in listed German diesel engine manufacturer Tognum AG to Daimler AG.

HitecVision has sold its 35 percent stake in Knowledge Systems, a Texas-based geopressure and geomechanical services business, to Halliburton. No financial terms were disclosed.

Ironwood Investment Management of Boston announced that its founders and employees have bought back a majority stake in their company, from Centre Partners portfolio company MB Investment Partners & Associates. No financial terms were disclosed. MB will retain a minority stake.

MedAssets Inc. (Nasdaq: MDAS) has agreed to acquire Accuro Healthcare Solutions Inc., a Dallas-based provider of financial and operational solutions for healthcare providers. The deal is valued at approximately $350 million in cash and stock (including assumed debt). Accuro currently is in registration for a $143.75 million IPO, and is controlled by Welsh, Carson, Anderson & Stowe (79.94% stake).

Permira has agreed to sell German mobile phone carrier Debitel to Freenet for €1.63 billion. The move is strongly opposed by United Internet, which holds a 25 percent stake in Freenet and has been trying to buy and/or break up the company.

PNC Equity Partners has sold Home Made Brand Foods Inc. to Greencore Group PLC. No financial terms were disclosed. HMBF is a Newburyport, Mass.-based maker of freshly prepared foods for sale in supermarkets and through foodservice distributors.

United Online Inc. has agreed to buy floral delivery company FTD for approximately $800 million in cash and stock (including assumed debt). Sellers include Leonard Green & Partners, which sponsored a $422 million take-private buyout of FTD in February 2004.

Warburg Pincus has agreed to acquire a majority stake in Safetykleen Europe from JPMorgan Partners for approximately £565 million. Company management will hold the remainder. Safetykleen Europe is a pan-European provider of parts and component cleaning machines for the automotive and general industrial sectors.