American Capital Strategies has sold Birmingham, Ala.-based specialty plumbing retailer Jones Stephens Corp. to Cortec Group, a New York-based private equity firm. No financial terms were disclosed, except that ACS re-invested in support of the acquisition. Jones Stephens was advised on the deal by Goldsmith Agio Helms.
DLJ Merchant Banking Partners has acquired Total Safety U.S. Inc. from H.I.G. Capital Partners. No financial terms were disclosed, although LBOWire puts the total at around $200 million (including $70 million in equity). Total Safety is a Houston, Texas–based outsourced provider of mission-critical safety services and equipment to the refining, petrochemical, upstream and general industrial markets. It has approximately $110 million in annual sales.
Eurazeo is in exclusive talks to sell its 55% stake in France-based truck leasing company Fraikin Groupe SA to CVC Capital, for an enterprise value of Euro 1.35 billion. Eurazeo also has canceled a planned €520 million IPO for Fraikin, whose minority shareholders include Rhone Group, Pragma Capital and WestLB. The move comes one month after a La Tribune report that Terra Firma Capital Partners, CVC Capital and Cinven had offered to buy Fraikin for around €1.5 billion.
Eureka Growth Capital has sold Specialty Pharma Inc. to Critical Homecare Solutions, a portfolio company of Kohlberg & Co. No financial terms were disclosed. Specialty Pharma is a Cromwell, Conn.-based provider of home infusion and respiratory therapy services, and was advised on the sale by Ewing Bemiss & Co.
Fenway Partners has agreed to acquire tour and charter-bus operator Coach America from Kohlberg & Co. No financial terms were disclosed for the deal, which is expected to close early next year.
Industri Kapital has sold Brussels-based prefabricated concrete company Consolis to LBO France for an undisclosed amount. Consolis reported 2005 sales of €1.2 billion with EBITDA of €123 million and has more than 8,000 employees.
Industri Kapital has acquired Attendo, a Sweden-based provider of care services for older and disabled people in the Nordic region, from Bridgepoint Private Equity. No financial terms were disclosed. Bridgepoint acquired a majority stake in Attendo in February 2005, at an enterprise value of approximately €225 million.
Investcorp and Hicks Holdings LLC have agreed to acquire a majority stake in Greatwide Logistics Services from Fenway Partners for $730 million. GreatWide is a Dallas, Texas-based provider of third-party logistics services. Fenway acquired the company in 2000, and will retain a minority stake.
J.W. Childs Associates has agreed to acquire CHG Healthcare Services Inc., a Salt Lake City- based provider of temporary physician staffing services. No financial terms were disclosed. CHG had raised $23.5 million in VC funding, including a $15 million infusion in 2003 at a $129 million post-money valuation. Shareholders include Acacia Venture Partners, Frazier Healthcare Ventures, Nassau Capital and New Enterprise Associates. CHG had withdrawn IPO registration papers earlier this year, and is being advised on the sale by Goldman Sachs.
The Sterling Group has completed its acquisition of Hudson Products Corp. from Madison Capital Partners. No financial terms were disclosed. Both Madison and the Hudson management team reinvested as part of the deal, while BNP Paribas provided leveraged financing. Hudson Products is a Sugar Land, Texas-based provider of air-cooled heat exchangers and axial-flow fans to processors in the petroleum, natural gas, power generation, petrochemical and chemical industries.
, a New York-based owner of travel services company Galileo and Orbitz.com, has agreed to buy travel-booking service Worldspan for approximately $1.4 billion. Simultaneous to the execution of the merger agreement, Worldspan completed a recapitalization plan, through which Travelport loaned $125 million to Worldspan in exchange for a payment in kind (PIK) note which Travelport funded through cash on hand. In addition, one of Travelport’s parent companies also loaned Worldspan $125 million in exchange for a PIK note. Blackstone Group and Technology Crossover Ventures bought Travelport from Cendant earlier this year for $4.3 billion. Court Square Capital (f.k.a. Citigroup VC) and Teachers’ Private Capital bought Worldspan in 2004 for around $900 million from Delta Airlines, Northwest Airlines and American Airlines.
Wellspring Capital Management
has completed its $310 million reacquisition of JW Aluminum Holding Co. from Superior Plus Income Fund. JW Aluminum is a manufacturer of flat-rolled aluminum products, and had been first acquired by Wellspring from Walter Industries in December 2003 for $125 million. Wellspring then sold the company last year for approximately $350 million.