Private Exits

Advent International sold Venere Net ApA to Expedia Inc. Venere Net runs, a European hotel Web site. Deal terms were not disclosed.

AXA Private Equity has sold Benedicta, a French condiment maker, to H.J. Heinz company. No terms were disclosed.

Goldner Hawn Johnson & Morrison-backed Wilsons The Leather Experts sold 116 of its outlet stores to G-III Apparel for $22.4 million.

H.I.G. Capital sold portfolio company Source Electronics to Avnet Inc. Source Electronics, based in Hollis, N.H., makes integrated circuits, Deal terms were not disclosed.

Sterling Partners-backed Prospect Mortgage Co. acquired 60 retail branches of IndyMax Bancorp for an undisclosed price. Sterling Partners created Prospect in 2006 as a part of a contrarian roll-up strategy.

Veritas Capital’s bankrupt portfolio company, Wornick Co, a military food provider, has completed its bankruptcy cycle. As part of the restructuring, the business has been sold to senior secured noteholders. Veritas purchased the company for $155 million in 2004.

Western NonWovens Inc, a Carson, Calif.-based materials company backed by Cerberus Capital Management, simultaneously filed for bankruptcy, announced it secured DIP lending, and agreed to sell assets to SBC Manufacturing Co., a subsidiary of Simmons Bedding Co. Simmons is backed by Thomas H. Lee Partners.