Aspect Abundant Shale LP has agreed to sell its interest in a North Texas natural gas field to Williams, for approximately $166 million in cash. Aspect Abundant was formed two years ago as a joint venture between First Reserve and Aspect Energy LLC.
Arclight Capital Partners has completed its sale of Magnum Coal Co. to Patriot Coal Corp. for nearly $709 million. The deal creates the second-largest coal producer in central Appalachia. ArcLight now holds 16 percent stake in Patriot Coal, which spun off from Peabody Energy Corp. late last year. Other Magnum shareholders hold a 15 percent stake.
Churchill Equity has sold Deer Park, Texas-based industrial services group Tepsco to German construction company Bilfinger Berger. No financial terms were disclosed.
Fluid Logic LLC, a Portland, Ore.-based maker of colloidal silica, has sold its grinding and fabrication fluids business for brittle materials to Ferro Corp. No financial terms were disclosed. Fluid Logic is a portfolio company of Riverlake Partners.
GSC Group has sold Burke Industries Inc., a maker of resilient flooring and roofing products, to Mannington Mills Inc. for an undisclosed amount. McColl Partners advised Burke on the deal.
SBA Communications Corp. has agreed to buy wireless tower company Optasite for approximately $255 million in unrestricted common stock. Optasite had raised over $125 million in private equity funding since its 2000 inception, from firms like Columbia Capital, Centennial Ventures, Citi, Highland Capital Partners, Kestral Management, Key Venture Partners, Berkshires Capital Investors, Long River Capital Partners and Village Ventures. It also secured leveraged financing from GE and Morgan Stanley.
Sophos PLC has agreed to acquire Utimaco Safeware AG, a Frankfurt-listed provider of enterprise data security solutions. The deal is valued at €217 million, or €14.75 per share. Sellers include Investcorp Technology Partners, which currently holds a 24.99 percent stake in Utimaco. Sophos has received acquisition financing from existing shareholder TA Associates, plus HSBC and RBS.
The Stanley Works has completed its acquisition of Sonitrol Corp. from Carlyle Venture Partners, Wachovia Capital Partners, Spire Capital Partners and Sonitrol management. The deal is valued at $275 million in cash. Sonitrol is a Berwyn, Penn.-based provider of security monitoring services, access control and fire detection systems to commercial customers in North America . It had been acquired by the PE firms in 2004 from Tyco for approximately $125 million, and had already paid out a dividend.