ACON Investments has acquired Peter Piper Inc., a Phoenix, Ariz.-based dine-in pizza and entertainment restaurant chain, from Madison Dearborn Partners. No financial terms were disclosed.

American Securities Capital Partners has agreed to acquire a majority stake in NEP Broadcasting from Apax Partners and Spectrum Equity Investors. No financial terms were disclosed. NEP is a Pittsburgh–based provider of outsourced teleproduction services for the delivery of live sports and entertainment events. Bear Stearns acted as financial advisor to NEP in the transaction.

Arsenal Capital Partners has acquired Source Refrigeration & HAVAC Inc. from Valor Equity Management and Denargo Capital. Source is an Anaheim, Calif.-based provider of commercial refrigeration services in North America, serving customers in 12 contiguous Western states. Company management will retain an ownership position, while leverage financing was provided by Dymas Capital Management and Audax Mezzanine.

Beecken Petty O’Keefe & Co. has acquired Reichert Inc. from Summer Street Capital Partners for an undisclosed amount. Reichert is a Depew, N.Y.-based manufacturer of screening and diagnostic devices for ophthalmologists, optometrists and retail eyecare centers. It was acquired from Summer Street from Leica Microsystems in late 2002, and was advised on the more recent sale by Goldsmith Agio Helms.

Beecken Petty O’Keefe & Co. has acquired Tidi Products from Fidelity Capital Investors. Tidi Products is a Neenah, Wis.-based maker of disposable dental and medical products.

FdG Associates has sold Industrial Controls Distributors LLC to AEA Investors for an undisclosed amount. ICD is a Wanamassa, N.J.-based distributor of process automation controls, commercial heating, ventilation and air conditioning controls and automated industrial valves.

General Atlantic, Goldman Sachs, the NYSE Group and the Softbank Asian Infrastructure Fund each have agreed to acquire a 5 percent stake in the National Stock Exchange of India. Sellers are IFCI, IL&FS, ICICI, PNB and GIC. No financial terms were disclosed.

Hanley Wood Inc.

, a Washington, D.C.–based B2B media company serving the residential and commercial construction markets, has acquired PRO AV magazine from Ascend Media. No financial terms were disclosed. Hanley Wood is owned by CCMP Capital (f.k.a. JPMorgan Partners), while Ascend Media is backed by CCMP and Veronis Suhler Stevenson.


has agreed to acquire Moody International Ltd. from Close Brothers Private Equity for £158 million. Moody is a U.K.-based provider of energy and construction inspection services.

Lone Star Funds

has agreed to sell restaurant chain Shoney’s to Royal Capital for an undisclosed amount. Lone Star had agreed to sell Shoney’s last year to Centrum Properties, but the deal later fell through and got mired in litigation.

Milestone Capital Partners

has acquired Houston Harvest Gift Products LLC from Trust Company of the West and Merit Capital Partners. No financial terms were disclosed for the deal, which also included participation by company management. Houston Harvest Gift Products is a Franklin Park, Ill.-based maker of food gifts and popcorn tins.

PNC Equity Partners

has acquired Hilsinger Holdings Inc. from ICV Capital Partners and Palladium Equity Partners. No financial terms were disclosed. Hilsinger Holdings is a Plainville, Mass.-based provider of eyewear and eye care accessory products and supplies in the U.S. and U.K. It was advised on the sale by Harris Williams & Co.

Wachovia Capital Partners

has agreed to acquire Crosman Corp. from Compass Group for approximately $143 million. Crosman is an East Bloomfield, N.Y.-based manufacturer of recreational airguns and related products.