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Deal News Archive: Page 3 of 23: Next Page | Previous Page 
3i to invest €225m in Hispanic radio operator Unión Radio
22/04/2008. 3i has agreed to take a minority stake in Unión Radio. The firm has made an initial investment of €125m in the Hispanic radio operator, out of a total commitment of €225m, via a private placement and capital increase. 
J.C. Flowers abandons $7bn Friends Provident deal
21/04/2008. New York-based buy-out giant J.C. Flowers & Co. is no longer planning to make an offer for UK life insurance company Friends Provident.
LGT to acquire Hong Kong-based fund of hedge funds KGR Capital
21/04/2008. Pfaeffikon, Switzerland-headquartered alternative assets and fund of funds manager LGT Capital Partners has agreed to acquire Hong Kong-headquartered fund of hedge funds KGR Capital for an undisclosed amount.
Candover, Goldman Sachs, AlpInvest to acquire Expro for £1bn
17/04/2008. Candover Partners, Goldman Sachs Capital Partners and AlpInvest Partners have teamed up to acquire well flow management business Expro. The three firms have set up a new acquisition vehicle, Umbrellastream, through which they have agreed the £1.605bn deal.
Pharos, TPG to acquire American Beacon Advisors for $480m
17/04/2008. Pharos Capital Group and TPG Capital have agreed to acquire American Beacon Advisors, the asset management subsidiary of AMR Corporation, the parent company of American Airlines. The firms have established a new acquisition vehicle, Lighthouse Holdings, to acquire the company for approximately $480m. AMR will retain a minority equity stake in the business.
Tenaska Power Fund to sell Holland Energy power plant for $383m
15/04/2008. US energy-focused private equity fund Tenaska Power Fund has sold gas-fuelled power plant Holland Energy to Indiana electric cooperatives Wabash Valley Power and Hoosier Energy for $383m.
August Equity sells Healthcare Homes Group to Bowmark for £75m
14/04/2008. UK private equity firm August Equity has completed the sale of residential care provider Healthcare Homes Group to fellow UK private equity firm Bowmark Capital for £75m.
HgCapital to sell Boosey & Hawkes to Imagem Music for £126m
11/04/2008. European mid-market private equity firm HgCapital has agreed to sell Boosey & Hawkes, a UK-headquartered classical music publishing and rights group, to Imagem Music for approximately £126m. Imagem Music is the music publishing fund of Stichting Pensioenfonds ABP and CP Masters.
Apax to acquire TriZetto in $1.4bn deal
11/04/2008. Apax Partners has agreed to acquire California-based healthcare IT solutions provider TriZetto Group in a transaction valued at approximately $1.4bn. Trizetto customers health insurance firm BlueCross BlueShield of Tennessee and healthcare company The Regence Group are also investing in the company.
Gresham to back £82.5m MBO of Johnson Clothing
11/04/2008. UK mid-market buy-out firm Gresham has agreed to back the £82.5m MBO of East Midlands, UK-headquartered corporatewear provider Johnson Clothing Limited from Johnson Service Group.
TPG to invest $800m in Russian pharmaceutical company SIA International
09/04/2008. TPG Capital has agreed to acquire a 50 per cent stake in Russian pharmaceutical distributor SIA International from company founder Igor Rudinsky, in a deal worth approximately $800m. The transaction is funded entirely through equity, according to a statement.
Alto Partners Development Capital to sell Italian manufacturer Metalcastello
08/04/2008. Milan-based mid-market buy-out firm Alto Partners, through its Development Capital I fund, has agreed to sell its majority stake in Italian independent gear manufacturer Metalcastello, alongside other investors, to Indian manufacturer Mahindra & Mahindra and Indian private equity firm ICICI Venture. The agreement is the result of an auction.
US firm Odyssey to sell protective equipment producer Norcross for $1.2bn
08/04/2008. Odyssey Investment Partners has agreed to sell Oak Brook, Illinois-based protective equipment producer Norcross Safety Products to Honeywell International in a transaction valued at approximately $1.2bn. The New York-based mid-market private equity firm is will make an approximate six times return on its investment, sources close to the deal said.
Exponent buys Lowell Holdings
08/04/2008. London-based mid-market buy-out firm Exponent Private Equity and company management have acquired Lowell Holdings, a Leeds-based specialist debt purchasing company, from Cabot Square Capital.
Industri Kapital to acquire Flabeg from EquiVest/CBR
07/04/2008. European mid-market private equity firm Industri Kapital has agreed to acquire Nuremberg, Germany-headquartered mirror manufacturer Flabeg from German private equity firm EquiVest/CBR. Financial terms were not disclosed.
Apax Partners, LBO France to acquire Maisons du Monde
07/04/2008. Apax Partners in France and LBO France have agreed to acquire a majority stake in French home decoration and furniture retailer Maisons du Monde from Barclays Private Equity and iXEN Partners. The company's management team will retain a 20 per cent stake, whilst iXEN, a shareholder since 2005, will also retain its minority interest. Financial details were not disclosed.
GLE acquires early stage investment specialist YFM
04/04/2008. GLE Group, a UK angel and early stage venture capital provider to small and growing enterprises in Europe, has completed its acquisition of early stage investment specialist YFM Group. Financial terms of the transaction were not disclosed.
BS Private Equity makes 2.5 times return on Sicurglobal sale
03/04/2008. Italian private equity firm BS Private Equity has agreed to sell 100 per cent of security and surveillance business Sicurglobal to London-based private equity firm Stirling Square Capital Partners. The value of the deal was not disclosed, but sources close to the deal said the enterprise value was in the €150-200m range.
3i supports insurance group Hyperion's expansion in Middle East, Asia
02/04/2008. 3i has invested £50m in London-based insurance group Hyperion for a minority stake in the company. The transaction values the company at approximately £120m.
Wind Point sells biscuit business Nonni's for $320m
01/04/2008. Wind Point Partners has exited its investment in baked goods supplier Nonni's Food Company. The US mid-market private equity firm has sold the business to Greek food production company Vivartia for $320m.
CBPE backs £142m MBO of Energy Cranes
31/03/2008. UK mid-market private equity firm Close Brothers Private Equity has backed the £142m MBO of Aberdeen-based Energy Cranes International from its parent, London-based investment firm LMS Capital. CBPE has invested £60m alongside the company's management team led by Energy Cranes CEO John Jordan.
Private equity consortium to acquire Gilat Satellite Networks for $475m
31/03/2008. A consortium of private equity investors including The Gores Group, Israel-based investment company Mivtach Shamir Holdings, DGB Investments and companies affiliated with Roy Ben-Yami, Ami Lustig and Eytan Stibbe has agreed to acquire Israeli satellite communications services business Gilat Satellite Networks for approximately $475m.
3i to acquire UK software consultancy Civica
28/03/2008. 3i-backed Cornwall Bidco has agreed to acquire the entire issued and to be issued ordinary share capital of UK-based software consultancy business Civica at a price of 270 pence per Civica share, valuing the company at approximately £190m.
Bain Capital, THL sue banks for failure to finance Clear Channel deal
27/03/2008. Bain Capital Partners and Thomas H. Lee Partners have filed complaints in the Supreme Court of the State of New York and the Texas State Court in Bexar County, Texas, against Citigroup, Morgan Stanley, Credit Suisse, The Royal Bank of Scotland, Deutsche Bank and Wachovia to enforce binding commitments by the banks to provide debt financing for the private equity firms' acquisition of Clear Channel Communications, a specialist in the out-of-home advertising industry.
Aureos acquires 30 per cent of South African company Sandbox Holdings
27/03/2008. Emerging markets-focused private equity firm Aureos Capital's Aureos Southern Africa Fund has acquired a 30 per cent equity stake in South Africa-based electronic security and business software company Sandbox Holdings.
Riverstone, AEC commit $1bn to solar joint venture
26/03/2008. New York-based energy-focused private equity firm Riverstone Holdings and power company AES Corporation have committed up to $1bn as part of a new joint venture to focus on solar photovoltaic projects. AES and Riverstone will provide up to $500m each over five years to the jointly owned entity, to be called AES Solar.
Bain Capital walks away from $2.2bn 3Com deal
26/03/2008. Bain Capital Partners has terminated the merger agreement with Massachusetts-headquartered 3Com Corporation. Bain Capital said in a statement that it did not go ahead with the transaction 'because the US government's Committee on Foreign Investment in the United States (CFIUS) said it intended to take action to prohibit that transaction.'
Carlyle completes €1.1bn investment in Completel and Numericable
25/03/2008. The Carlyle Group has completed its €1.1bn equity investment in Numericable and Completel. Carlyle has become a shareholder in the French cable companies alongside European buy-out firm Cinven and European media and telecommunications investor Altice, the existing shareholders.
ECI Partners to acquire Premier Research Group for £60m
20/03/2008. UK mid-market buy-out firm ECI Partners has agreed to acquire clinical trial business Premier Research Group for approximately £60m.
Venture-backed BladeLogic to be acquired for $800m
20/03/2008. Venture-backed data centre automation business BladeLogic has agreed to be acquired by software company BMC Software for approximately $800m. The company had previously received investments from Battery Ventures, Bessemer Venture Partners, Globespan Capital Partners and MK Capital.
Industri Kapital to sell ELFA for €222m
19/03/2008. Industri Kapital has agreed to sell electronics distributor ELFA for SEK2.1bn (€222m). The European buy-out firm made more than three times its original investment and recorded an IRR of 90 per cent, according to sources close to the deal.
WL Ross to acquire Option One's mortgage servicing business for $1.1bn
18/03/2008. New York-based financial restructuring group WL Ross & Co., through its affiliate, AH Mortgage Acquisition Co., Inc., has agreed to acquire the Option One mortgage servicing business from H&R Block for approximately $1.1bn.
CPPIB receives shareholder approval to acquire Auckland International Airport
17/03/2008. Canada Pension Plan Investment Board's estimated CAN$1.5bn bid for the acquisition of a 39.2 per cent stake in Auckland International Airport has received shareholder approval.
Noro-Moseley Partners hires Greg Foster
12/03/2008. Atlanta, US-based venture capital firm Noro-Moseley Partners has appointed Greg Foster to its investment team. Foster will focus on technology investments, with a specific emphasis on opportunities in the digital media space.
Baring Asia, Chengwei Ventures invest $88m in China CBM Investment Holdings
11/03/2008. Asian private equity group Baring Private Equity Asia, together with Shanghai-based venture capital firm Chengwei Ventures, has invested $88m in China CBM Investment Holdings, as part of an MBO of green energy company Asian American Gas.
Cognetas, Englefield acquire Morrison Utility Services for £135m
07/03/2008. European mid-market private equity firms Cognetas and Englefield Capital have jointly acquired UK utility company Morrison Utility Services, part of Anglian Water Group, for £135m, alongside company management.
Altor to acquire Papyrus from Stora Enso for €640m
07/03/2008. Nordic private equity firm Altor Equity Partners, through its Altor Fund II, has agreed to acquire Swedish paper and packaging business Papyrus from Stora Enso for €640m.
Morgan Stanley Private Equity to invest AUS$750m in Learning Care Group
06/03/2008. Morgan Stanley Private Equity has agreed to acquire a 60 per cent stake in US childcare business Learning Care Group, from Australian parent company A.B.C. Learning Centres, for AUS$750m ($702m). A.B.C. will retain a 40 per cent stake.
Bridgepoint makes 2.5 times return on Tunstall Group sale
05/03/2008. European private equity firm Bridgepoint has sold telecare systems company Tunstall Group to Charterhouse Capital Partners in a £514m transaction. Bridgepoint has realised a 2.5 times return on the original investment, according to a source close to the deal.
LDC sells Britton Group to HSBC Private Equity for £77m
05/03/2008. UK mid-market private equity firm LDC has exited its investment in UK-based extrusion and plastic packaging manufacturer Britton Group through a £77m secondary buy-out backed by HSBC Private Equity and HSBC Bank.
First Reserve agrees to acquire Gamesa solar unit for €261m
03/03/2008. Energy-focused private equity firm First Reserve Corporation has agreed to acquire solar energy business Gamesa Solar from Spanish sustainable energy company Gamesa Corporación Tecnológica for €261m.
WL Ross agrees to invest up to $1bn in financial guarantor Assured Guaranty
03/03/2008. Private investment and fund management firm WL Ross & Co. has agreed to buy $250m of common shares of Bermuda-based financial guaranty holding company Assured Guaranty and to provide a commitment to purchase up to $750m of additional Assured shares at the option of the company.
AIG Capital Partners sells AFM Cinemas in Turkey
29/02/2008. AIG Capital Partners and other shareholders have completed the sale of 51.91 per cent of Istanbul, Turkey-headquartered cinema and entertainment company AFM Uluslararasi Film Produksiyon Tic. ve San. to A1 Group, the investment group of the Alfa-Group Consortium. The transaction values the company at $75m.
Deutsche Beteiligungs AG to back ICTS Europe MBO
28/02/2008. German mid-market buy-out company Deutsche Beteiligungs AG, its co-investment fund DBAG Fund V and ICTS Europe Holdings management have agreed to acquire ICTS Europe from Fraport for €100m.
Axcelis rejects $544m TPG, SHI offer
27/02/2008. US semiconductor company Axcelis Technologies has rejected an unsolicited proposal by Japanese manufacturer Sumitomo Heavy Industries and TPG to acquire the Beverly, Massachusetts-headquartered company for $544m.
Blackstone, First Reserve, Petroplus in $2bn oil joint venture
27/02/2008. Petroplus Holdings has teamed up with The Blackstone Group and First Reserve to pursue acquisitions of crude oil refineries in the US. Each partner has committed $667m in equity to this venture.
Hellman & Friedman agrees to acquire Getty Images for $2.4bn
26/02/2008. Hellman & Friedman has agreed to acquire digital media company Getty Images for approximately $2.4bn.
Barclays Private Equity makes 2.5 times return on Kurt Geiger sale
25/02/2008. UK mid-market private equity firm Graphite Capital has backed a £95m MBO of European shoe retailer Kurt Geiger from Barclays Private Equity.
Bridgepoint to acquire UK food retailer Pret A Manger
22/02/2008. European private equity firm Bridgepoint has agreed to acquire a majority stake in UK food retail chain Pret A Manger. The value of the deal is around £345m, according to a source close to the deal.
HgCapital sells UK exhibition and events business Clarion Events to VSS for £120m
22/02/2008. European mid-market private equity firm HgCapital has sold Clarion Events to Veronis Suhler Stevenson for an enterprise value of £120.5m. The sale represents a 34 per cent IRR for investors, according to a statement.
First Reserve to acquire helicopter services company CHC for CAN$3.7bn
22/02/2008. Energy sector-focused private equity firm First Reserve Corporation has agreed to acquire CHC Helicopter Corporation, a Vancouver, Canada-headquartered provider of helicopter services to the offshore oil and gas industry, in an all-cash transaction which values the company at an adjusted enterprise value of CAN$3.7bn.
TPG completes $288m investment in Japanese financial firm NIS Group
21/02/2008. Private equity investment firm TPG has invested approximately ¥31bn ($288m) in Japanese non-bank financial firm NIS Group Co. and Nissin Leasing (China) Co.
Sun Capital completes Kellwood deal
21/02/2008. Sun Capital Securities Group, has completed its acquisition of Kellwood Company for approximately $767m, including the assumption of Kellwood's net debt.
Blackstone to invest $60m in Indian logistics company Allcargo
20/02/2008. The Blackstone Group has agreed to invest $60m in Indian private sector logistics operator Allcargo Global Logistics. Blackstone also intends to purchase additional shares of Allcargo from the open market, while keeping its ownership position below 15 per cent.
AtriA backs MBO of French company Abcd
20/02/2008. French mid-market private equity house AtriA Capital Partenaires has backed an MBO of turnkey contractor Abcd from Affine. AtriA will be the main shareholder in the company through a newly established holding vehicle, Abcdgroup. Financial terms of the deal were not disclosed.
European mid-market firm Balmoral buys Oyster Marine
19/02/2008. European mid-market private equity firm Balmoral Capital has acquired UK yacht builder Oyster Marine. Financial terms were not disclosed, but the deal is believed to be worth around £80m.
Hellman & Friedman to acquire Gaztransport & Technigaz stake for €310m
15/02/2008. San Francisco-based private equity firm Hellman & Friedman has agreed to acquire a 30 per cent stake in French marine engineering company Gaztransport & Technigaz from Saipem, a turnkey contractor operating in the oil and gas industries, for €310m.
BC Partners to acquire Istanbul-listed supermarket chain Migros
14/02/2008. BC Partners, alongside minority investors including Turkven Private Equity and DeA Capital, has agreed to acquire 50.8 per cent of Turkish supermarket chain Migros Türk from Koç Holding at a price of YTL21.85 per share, representing a market capitalisation of YTL3.9bn ($3.25bn). As part of the deal, Bülend Özaydinli, former CEO of Koç Holding and Migros, will become chairman of the group.
Paine & Partners to acquire engineering company Stabilus from Montagu
14/02/2008. San Francisco and New York-based private equity firm Paine & Partners, formerly Fox Paine, has agreed to acquire German industrial engineering company Stabilus from European private equity firm Montagu Private Equity. Financial terms of the transaction were not disclosed.
Thomas H. Lee Partners, Goldman Sachs invest in MoneyGram recapitalisation
13/02/2008. An investment group led by growth buy-out firm Thomas H. Lee Partners and investment banking firm Goldman, Sachs & Co. has agreed to invest at least $710m in a recapitalisation of payment services company MoneyGram International.
General Atlantic, Hellman & Friedman invest $575m in Emdeon
12/02/2008. General Atlantic and Hellman & Friedman have acquired all remaining interests in Emdeon held by HLTH Corporation. General Atlantic purchased a 52 per cent interest in the company from HLTH in November 2006.
Industri Kapital acquires Groupe Etanco
08/02/2008. European private equity firm Industri Kapital has signed a share purchase agreement to acquire French building fastener and fixing systems company Groupe Etanco from the Lebraut family in partnership with CEO Ronan Lebraut and members of the founding family and management. The size of the transaction was not disclosed, but has been reported to be worth around €250m, according to a source close to the deal.
Biffa agrees to £1.23bn acquisition by Montagu, GIP
08/02/2008. UK waste services company Biffa has agreed to be acquired by WasteAcquisitionco, an acquisition vehicle formed by private equity firms Montagu Private Equity, Global Infrastructure Partners and also UCIL, in a deal that values Biffa at approximately £1.225bn.
Alchemy Partners acquires optical fibre company Geo for £62m
07/02/2008. London-based mid-market private equity firm Alchemy Partners has acquired optical fibre network company Geo from technology corporation Hutchison Whampoa Group, in a deal worth £62m.
KKR invests $250m in Bharti Infratel
07/02/2008. Kohlberg Kravis Roberts and Co. has invested $250m in Bharti Infratel, a wholly owned subsidiary of Indian mobile company Bharti Airtel. The investment will be made by KKR's Asia-focused private equity fund and its global private equity fund.
3i to back $395m MBO of Alpharma's Active Pharmaceutical Ingredients
06/02/2008. 3i has agreed to back the MBO of Norway-based pharmaceutical business Active Pharmaceutical Ingredients, a division of NYSE-listed Alpharma, in a deal worth around $395m.
Carlyle, Riverstone commit $450m to Dynamic Offshore Resources
05/02/2008. The Carlyle Group and energy-focused private equity firm Riverstone Holdings have committed $450m for investment in Dynamic Offshore Resources, a new Houston-based oil and gas company that will focus on acquiring and developing producing properties in the Gulf of Mexico.
LGV exits two healthcare investments
04/02/2008. LGV Capital has announced two exits. The UK mid-market buy-out firm has agreed to sell UK private acute hospital operator Classic Hospitals Group to Cinven-backed Spire Healthcare (formerly BUPA Hospitals) for £145m. In a separate transaction, it has sold Verna Group, a manufacturer and distributor of infection control products, to Bank of Scotland Integrated Finance. Financial details of the Verna deal were not disclosed, but the deal was thought to be worth over £50m, according to a source close to the deal.
Warburg Pincus completes $500m investment in bond insurer MBIA
01/02/2008. Warburg Pincus has completed the acquisition of 16.1 million shares of MBIA for an aggregate amount of $500m as part of its agreement to invest up to $1bn in the company. MBIA is a financial guarantor and financial services provider.
GSO terminates proposed $1.1bn Reddy Ice buy-out
01/02/2008. GSO Capital Partners has agreed with Reddy Ice Holdings, a US manufacturer and distributor of packaged ice, to terminate its $1.1bn purchase agreement.
Investor consortium to acquire electrics company BUT Group for €550m
31/01/2008. Decomeubles Partners, backed by private real estate investment firm Colony Capital, private investment firm Merchant Equity Partners and Goldman Sachs, has agreed to acquire Kesa Electricals' furniture and electricals business BUT Group.
Alliance Data sues Blackstone
31/01/2008. Alliance Data Systems Corporation, a Dallas-headquartered provider of loyalty and marketing solutions, says it has filed a lawsuit against Aladdin Solutions and Aladdin Merger Sub, the acquisition entities formed by The Blackstone Group to acquire Alliance Data pursuant to the terms of a 17 May 2007 merger agreement. Alliance wants Blackstone to proceed with the acquisition of the company.
Aurora to acquire NuCO2 in $487m deal
30/01/2008. US private equity firm Aurora Capital Group has agreed to acquire NuCO2, a bulk CO2 products and services provider to the fountain beverage industry. The transaction values the company at $487m.
HgCapital sells UK body care company The Sanctuary Spa Group for £75m
29/01/2008. European private equity firm HgCapital has sold UK body care company The Sanctuary Spa Group to consumer products group PZ Cussons for £75m.
3i, ABN AMRO invest £53m in TSMarine
29/01/2008. 3i and ABN AMRO Merchant Banking are investing a combined £53m in Aberdeen, Scotland-based sub-sea oil and gas service provider TSMarine.
The Gores Group completed €383m Sagem Communications acquisition
29/01/2008. Los Angeles-headquartered private equity firm The Gores Group has completed its acquisition of French technology company Sagem Communications from technology group SAFRAN for €383m.
Paine & Partners backs MBO of Capital Z's hedge fund sponsorship business
25/01/2008. San Francisco and New York-based private equity firm Paine & Partners (formerly Fox Paine) has backed an MBO of the hedge fund sponsorship business from Capital Z Investment Partners. Financial terms of the transaction were not disclosed.
Goldman Sachs establishes relationship with Allied Capital
24/01/2008. Goldman Sachs Private Equity Group has committed to invest at least $125m in future investment vehicles managed by US company Allied Capital Corporation. In addition, Goldman Sachs plans to purchase $170m in existing private equity and debt investments from Allied Capital. Goldman Sachs will also have the option to invest in Allied Capital affiliates or vehicles managed by them, and co-invest alongside the firm in the future.
J.C. Flowers confirms interest in UK insurer Friends Provident
22/01/2008. US private equity giant J.C. Flowers & Co has confirmed that it is considering a takeover bid for UK life insurance company Friends Provident. The firm said in a statement that it has already built up a 2.7 per cent stake in the company.
Ethos acquires wheel retailer Tiger Automotive for ZAR1.05bn
21/01/2008. South African private equity firm Ethos Private Equity has secured shareholder approval to acquire Tiger Automotive and then delist the company from the Johannesburg Securities Exchange. The deal values the car wheel retailer at approximately ZAR1.05bn (€100m).
Blackstone, Wellspring to acquire Performance Food Group in $1.3bn deal
18/01/2008. US buy-out giant The Blackstone Group and New York-based private equity firm Wellspring Capital Management have agreed to acquire US food supplier Performance Food Group Company in a transaction valued at approximately $1.3bn.
Ethos leads consortium in $130m investment in Nigerian bank Oceanic
17/01/2008. An investor consortium led by South African private equity firm Ethos Private Equity and including South African asset manager Old Mutual Investment Group South Africa, a wholly owned subsidiary of the Old Mutual Group, has invested $130m in Nigerian bank Oceanic Bank International's recent public offering.
Apax recaps Luxembourg-based IEE
17/01/2008. Apax Partners in France has led a €165m recapitalisation of IEE, a Luxembourg-based automotive safety sensing and electronic systems company, to optimise the company's balance sheet and distribute a €61m dividend to shareholders, according to the firm.
Carlyle, Riverstone to sell gas firm CDM Resource Management in $655m deal
16/01/2008. Carlyle Group and Riverstone Holdings have agreed to sell Houston-based natural gas compression services company CDM Resource Management to US midstream energy partnership Regency Energy Partners.
Gilde, AAC exit investment in coffee company Drie Mollen with sale to CapVest
16/01/2008. European private equity firms Gilde Buy Out Partners and AAC Capital Partners have sold their combined stake in Dutch coffee roasting company Drie Mollen International to CapVest Equity Partners for an undisclosed sum. CapVest made the investment from its CapVest Equity Partners II fund.
KKR acquires $1.25bn in Legg Mason notes
15/01/2008. Baltimore, Maryland-headquartered asset management firm Legg Mason has sold 2.5 per cent convertible senior notes worth $1.25bn to Kohlberg Kravis Roberts & Co. The notes are due in 2015.
Segulah recapitalises Nordic hydraulics company Dacke PMC
15/01/2008. Segulah's fund Segulah III, through acting agent HSH Nordbank, has teamed up with several banks to provide a SEK2bn (€213m) recapitalisation of its portfolio company Dacke PMC.
Bain Capital to acquire Bright Horizons Family Solutions in $1.3bn deal
14/01/2008. Boston-headquartered Bain Capital Partners has agreed to acquire employer-sponsored childcare provider Bright Horizons Family Solutions in a transaction valued at approximately $1.3bn.
Blackstone to acquire GSO; announces $500m unit buy-back plan
10/01/2008. The Blackstone Group has agreed to acquire GSO Capital Partners, an alternative asset manager specialising in the leveraged finance marketplace with approximately $10bn under management, for up to $930m. GSO manages a multi-strategy credit hedge fund, a mezzanine fund, a senior debt fund and various CLO vehicles.
VC investors exit IT telecommunications company Apertio in £140m sale to Nokia
08/01/2008. A group of venture capital investors has agreed to sell IT telecommunications company Apertio to Nokia Siemens Networks in a deal worth around €140m.
American Capital exits equity investment in packaging company Ranpak
04/01/2008. American Capital Strategies has sold US packaging materials company Ranpak to New York mid-market private equity firm Odyssey Investment Partners. Ranpak's management team invested alongside Odyssey in the deal.
Blackstone terminates $1.8bn bid for PHH
03/01/2008. The Blackstone Group's agreed $1.8bn acquisition of Mount Laurel, New Jersey-headquartered PHH Corporation, alongside GE Capital Solutions, the business-to-business leasing, financing and asset management arm of General Electric Co., has been terminated because the necessary debt financing could not be obtained to complete the deal.
3i to acquire UK vision correction company Ultralase in £175m deal
03/01/2008. 3i has agreed to acquire vision correction business Ultralase, a British subsidiary of Spanish cosmetic surgery business Corporación Dermoestética, for £174.5m.
Carlyle joins Cinven, Altice as new shareholder in Numericable, Completel
02/01/2008. The Carlyle Group is to become a shareholder in French cable companies Numericable and Completel, alongside existing shareholders, European buy-out firm Cinven and European media and telecommunications investor Altice. Carlyle and Cinven will each own 35 per cent of the two companies, while Altice will own a 30 per cent stake. Financial details were not disclosed.
Bain, 3i invest in Quintiles
02/01/2008. Bain Capital and 3i have invested in healthcare services company Quintiles Transnational Corp. The two firms have joined an investor group consisting of TPG, sovereign wealth fund Temasek and Quintiles founder and CEO Dennis Gillings.
Barclays Private Equity acquires garden company Gardman in £85m deal
31/12/2007. Pan-European mid-market private equity house Barclays Private Equity has acquired a major stake in UK wild bird care and garden product company Gardman Holdings in a deal worth £85m.
KKR to acquire Northgate Information Solutions
21/12/2007. The boards of NIS Acquisitions, a vehicle formed by Kohlberg Kravis Roberts, and Northgate Information Solutions have agreed on the terms of a recommended acquisition of Northgate at a price of 95 pence in cash for each Northgate share, valuing the entire issued and to be issued share capital of Northgate at approximately £593m.
Bain sells interactive marketing services provider TravelCLICK to Genstar
21/12/2007. Bain Capital has exited its investment in TravelCLICK, a provider of interactive distribution solutions and marketing services to independent and chain hotels. San Francisco-based mid-market private equity firm Genstar Capital has acquired the company from Bain Capital and co-founders Richard Gray, chairman of TravelCLICK, and Ray Cohen.
Doughty Hanson sells Moeller Group to Eaton Corporation for €1.55bn
20/12/2007. Doughty Hanson & Co has sold Bonn, Germany-based manufacturer Moeller Group to Eaton Corporation for €1.55bn. The return on Doughty Hanson's equity investment in Moeller is three times and represents a gross IRR of 54 per cent.
First Reserve to acquire Abbot Group in £906m take-private transaction
20/12/2007. Energy-focused private equity firm First Reserve Corporation has agreed to acquire oil and gas services business Abbot Group. If completed, the £906m buy-out will be the largest private equity buy-out in the drilling services industry and the first European oil field services take-private to date, First Reserve said.
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