Arcapita has completed its $369 million acquisition of Varel Holdings Inc., a maker of drill bits for the oil & gas and mining industries, from KRG Capital Partners. KRG Capital bought Varel from 3i Group and UTIMCO in June 2005. It has since made several add-on acquisitions.
Cinven has agreed to acquire Coor Service Management Group AB from 3i Group for around €540 million. Coor is a Sweden-based provider of office and factory function services, like running staff canteens and instrument calibration.
Dubai International Capital has acquired Alliance Medical from Bridgepoint for £600 million. Alliance Medical is a U.K.-based provider of diagnostic imaging services to the European healthcare sector. Dresdner Kleinwort and Bank of Scotland are lead arrangers for the deal’s leveraged financing.
Linden LLC and The Edgewater Funds have acquired BarrierSafe Solutions International Inc. from Riverside Partners and StoneCreek Capital. No financial terms were disclosed. FirstLight Financial Corp. and CIT healthcare co-managed the senior debt, while Brown Brothers Harriman provided subordinated notes and an equity co-investment. BarrierSafe is a Reno, Nev.-based maker of disposable barrier protection and infection control products, including gloves.
Mid Europa Partners has completed its acquisition of a 94 percent stake in Polish healthcare provider Medycyna Rodzinna, from Polish Enterprise Fund. The deal was valued at approximately $21.8 million. Bank BPH underwrote the senior credit facilities, while Mezzanine Management provided mezzanine notes and co-invested in the equity.
Oak Hill Capital Partners has agreed to acquire Firth Rixon Ltd. from The Carlyle Group and Lehman Brothers for approximately $1.97 billion. Leveraged financing is being led by Lehman Brothers, GE Commercial Finance and Lloyds TSB Corporate Markets. Firth Rixon is a supplier of highly-engineered rings, industrial forgings and specialized metal products primarily to aerospace engine manufacturers. It has offices in East Hartford, Conn. and Sheffield, England. Carlyle acquired Firth Rixon in 2003, and simultaneously merged in with existing portfolio company Forged Metals Inc. In September 2006, Lehman Brothers acquired a 36 percent ownership position, via a co-investment with Carlyle.
TA Associates has agreed to sell SmartStream Technologies, a UK-based provider of software licensing and professional services, to DIFC Investments. The deal is valued at approximately £200 million in cash, and is expected to close next month.
Triton Media Group, a supplier of digital products and services to the media industry, has acquired Excelsior Radio Networks, a provider of radio advertising sales and programming. No financial terms were disclosed. Triton is a portfolio company off Oaktree Capital Management, while Excelsior had been owned by Lincolnshire Management.
Veronis Suhler Stevenson has completed its acquisition of Tranzact from Halyard Capital, for $185 million in cash. The deal represents a 12x ROI for Halyard, which helped form the company back in 2003. Tranzact is a Fort Lee, N.J.-based provider of customer acquisition marketing services for the financial services, media and telecom markets. Company management will retain an ownership position, following the VSS acquisition.