Private Exits

AIG Highstar Capital is looking to sell its stake on global power plant operator InterGen NV, according to LBO Wire. The position is reported to be worth between $1 billion and $1.5 billion.

BS Private Equity of Italy has sold Indian fabric manufacturer Klopman to competitor S Kumars for €70 million.

Fenway Partners has agreed to sell American Achievement Corp., an Austin, Texas-based provider of class rings and yearbooks, to Herff Jones, a manufacturer and publisher of educational products, recognition awards and graduation-related items. No financial terms were disclosed, but LBO Wire puts the AAC enterprise value at between $600 million and $700 million. The Blackstone Group advised Herff Jones on the sale, while Fenway and AAC were advised by Lane Berry and Goldman Sachs.

Friedman Fleischer & Lowe has sold Milestone AV Technologies Inc. to The Duchossois Group for an undisclosed amount. Milestone is a Savage, Minn.-based maker of audio-visual mounting equipment and display solutions. It had recently withdrawn its IPO filing. Freidman Fleischer led a 2003 buyout of Milestone, which also included Fulham Investors and Performance Equity Management.

GMAC is considering several asset liquidations for its ResCap mortgage unit, which has been hemorrhaging money for more than a year. Cerberus Capital Management acquired a 51% stake in GMAC from General Motors in 2006.

Odyssey Investment Partners has completed its sale of Norcross Safety Products LLC to Honeywell International for approximately $1.2 billion. Norcross is an Oak Brook, Ill.-based maker of personal protective equipment, and was acquired by Odyssey in July 2005 for approximately $495 million. Credit Suisse advised Norcross Safety Products.

Permira said that it does not plan to sell or de-list German fashion house Hugo Boss, despite reported comments to that effect by Valentino CEO Stefano Sassi. The firm says that Sassi was misquoted. Permira owns Valentino, which owns Huge Boss.

Red Diamond Capital and Century Park Capital Partners have sold HTR Holding Corp. to Parker Hannifin Corp. (NYSE: PH). No financial terms were disclosed. HTR Holding Corp. is an Anaheim, Calif.-based provider of precision plastic and elastomeric components for medical devices like septums, respirator hoses and catheters.

Tenaska Capital Management has agreed to sell Caledonia Energy Partners, owner of a multi-cycle gas storage facility in Northeast Mississippi, to Enstor Inc., the Houston-based natural gas storage unit of Spain-listed Iberdola Renewables. No financial terms were disclosed.

Tenaska Capital and Warburg Pincus have agreed to sell three electricity generation plants in Ohio, Pennsylvania and West Virginia to APT Generation. In additional, Tenaska will sell its Calumet Energy Power Station in Chicago. The combined sale price is $856.4 million.