3i Group has agreed to sell its 60% stake in Damcos AS to Emerson Electric Co. (NYSE: EMR) for approximately €162 million. Damcos is a Danish supplier of management and control solutions for marine applications.
Cognetas (f.k.a. Electra Partners Europe) has sold UK retailer BWG to company management for €390 million. Cognetas acquired BWG from Pernod Ricard in 2002 for €220 million, along with a majority stake in Newhill, owner of a large number of Spar stores.
Investcorp has agreed to sell Boston-based nursing and long-term care company Harborside Healthcare Corp. to Sun Healthcare Group (Nasdaq: SUNH). The deal is valued at approximately $625 million, including $350 million in cash and $275 million in assumed or refinanced debt. Sun has received leverage commitments from Credit Suisse and CIBC World Markets, with a final close slated for the first half of 2007.
PAI Partners plans to put French clothing company Vivarte on the block, according to Les Echos. A sale would be expected to generate between €2.5 billion and €3 billion. No bank has yet been selected.
Riverdeep Group PLC of Ireland is expected to buy Boston–based publishing house Houghton Mifflin Co. in a $3.5 billion reverse merger, according to The Deal. Houghton Mifflin is currently controlled by Bain Capital, The Blackstone Group and Thomas H. Lee Partners. Leverage for the deal will be led by Credit Suisse.