3i Group has sold its position in British commercial insurance broker Smart & Cook to AXA UK, for an undisclosed amount. 3i originally invested in Smart & Cook in March 2004, and later provided additional capital to support acquisitions.
ABN Amro Capital has acquired a majority stake in UK office supplies distributor OyezStraker from Hermes Private Equity. The deal values OyezStraker at £163 million, with Hermes reinvesting £7.8 million. Company management also is re-investing. Hermes originally acquired the company at June 2004 for an enterprise value of £80 million.
AIG Highstar Capital has agreed to acquire AmPorts Inc. from Lincolnshire Management for an undisclosed amount. AmPorts is a Jacksonville, Fla.-based operator of ports and portside vehicle processing facilities.
Bayside Capital, an affiliate of H.I.G. Capital, has acquired Diam Europe from Heritage Partners for an undisclosed amount. Diam Europe is a Paris, France-based maker of point-of-purchase displays for cosmetics, with annual revenue in excess of €100 million. Heritage sold Diam’s North American unit to Sun Capital Partners last year.
The Blackstone Group reportedly has agreed to acquire Klöckner Pentaplast from Cinven and CCMP Capital for approximately €1.3 billion. Klöckner Pentaplast is a German manufacturer of rigid plastic films for food packaging and medical devices. It was acquired by Cinven and CCMP in 2001 for approximately €925 million.
The Blackstone Group and Apax Partners have agreed to sell German waste-handling company Sulo Group to Veolia Environnement SA. The deal is valued at approximately €1.45 billion, including the assumption of €950 million in debt.
The Carlyle Group has sold French piping equipment company Groupe Genoyer to CDC Capital Investissement for an undisclosed amount. The company anticipates more than €300 million in 2007 revenue.
DLJ Merchant Banking Partners has agreed to acquire RathGibson from Castle Harlan for $440 million. RathGibson is a Janesville, Wis.-based manufacturer of highly-engineered stainless steel and alloy welded tubing products. It was acquired by Castle Harlan in February 2006 for approximately $260 million, and last August acquired tubing manufacturer Greenville Tube Co. for $37 million.
Gambro Holding AB, a joint portfolio company of EQT Partners and Investor, has agreed to sell its Gambro Healthcare dialysis center unit to Bridgepoint. No financial terms were disclosed, although news reports put the purchase price at over $600 million.
Madison Dearborn Partners has agreed to acquire VWR International Inc. from Clayton, Dubilier & Rice. No financial terms were disclosed for the deal, but a source puts the pricetag at approximately $3.8 billion. VWR is a West Chester, Pa.–based lab supply company that CD&R bought from Merck KGaA in April 2004 for $1.65 billion ($420m in equity). It reported 2006 revenue of over $3.2 billion.
The Riverside Company has sold Axiom Automotive Technologies to Transtar Industries Inc., a Cleveland-based portfolio company of Linsalata Capital Partners. No financial terms were disclosed. Axiom is a Pittsburgh-based supplier of original equipment and aftermarket transmission replacement parts.
Riverstone Holdings has completed its acquisition of majority stake in Dresser Inc., a Dallas-based manufacturer and marketer of products and services for energy industry and infrastructure applications. The selling shareholders were First Reserve and Odyssey Investment Partners, although First Reserve bought back a minority position as a partner in the Riverstone consortium, which also includes Lehman Brothers. No financial terms were disclosed.
Silver Lake Partners reportedly has agreed to acquire Westcom Corp. from One Equity Partners. No financial terms were reported. Westcom is a provider of secure phone lines for financial traders and brokers.
Thule, a Swedish portfolio company of Candover, has acquired Case Logic Inc., a Longmont, Colo.–based provider of storage solutions and lifestyle accessories. No financial terms were disclosed. Sellers include Catterton Partners, Albion Alliance, Stratford Equity Partners and KRG Capital Partners.
Thoma Cressey Bravo has sponsored a recapitalization of Midwest Dental Holding Company Inc., a provider of dental practice management services with offices across the Midwest. No financial terms were disclosed for the deal, which resulted in TCB acquiring all Midwest Dental interests previously owned by Svoboda, Collins LLC.