Private Equity Deals

May 19, 2011

Actis has agreed to acquire a group of Guatemalan energy transport and supply companies from Gas Natural Fenosa. The deal is valued at $345 million, plus assumed debt. www.act.is

Advent International has approached Micro Focus, a listed UK-based software testing company, about a takeover, according to the FT. Prior reports suggested that Bain Capital also was circling. The company is currently valued at around £760 million. www.adventinternational.com

Alpine Investors has sponsored a management recapitalization of Berkeys Plumbing and Air Conditioning, a provider of residential plumbing and HVAC services in Dallas/Ft. Worth metropolitan area. No financial terms were disclosed. www.alpine-investors.com


THURSDAY, MAY 19

Ridgemont Equity Partners has acquired a majority position in Gallus BioPharmaceuticals LLC, a St. Louis-based biologics contract manufacturing company. No financial terms were disclosed. www.gallusbiopharma.com

Kohlberg Kravis Roberts & Co. is in talks to acquire listed German telecom company Versatel, according to Dow Jones. Versatel has a current market cap of approximately $500 million. www.kkr.com

Big Lots (NYSE: BIG), a Columbus, Ohio-based closeout retailer, said that it has decided not to sell itself. The company had received buyout interest from several PE firms, including Bain Capital, TPG Capital, CVC Capital Partners, Leonard Green and THL Partners. Big Lots has a current market cap of around $2.8 billion. www.biglots.com

EQT Partners has acquired nine independent digital marketing agencies in Germany, and merged them together into a single platform called UDG United Digital Group GmbH. The firm says that UDG has an initial enterprise value of €97 million. www.eqt.se

Monument Capital Group has acquired Persistent Sentinel LLC, a provider of security and surveillance software to automatically detect and analyze threats and protect assets.  No financial terms were disclosed. www.persistentsentinel.com
WEDNESDAY, MAY 18

Apax Partners has agreed to acquire a 65% stake in Vocalcom, a Paris-based provider of software and technology solutions to customer contact and call centers. No pricing terms of the all-equity deal were disclosed. www.apax.com

Apollo Global Management and The Carlyle Group have dropped out of the process for auto parts company Federal-Mogul Corp. (NYSE: FDML), according to Reuters. Federal-Mogul’s current market cap is approximately $2.4 billion. www.federalmogul.com

Clearlake Capital Group has sponsored a recapitalization of Mycom Group Ltd., a global provider of wireless engineering services and service assurance software to the telecom industry. No financial terms were disclosed. America’s Growth Capital advised Mycom on the deal. www.clearlakecapital.com

Cukurova Holding AS, a Turkish conglomerate, is in talks about selling up to half of its Show TV assets to KKR and TPG Capital, in order to pave the way for the purchase of mobile phone operator Turkcell, according to Bloomberg. Show TV is believed to be worth between $800 million and $1.1 billion.

CVC Capital Partners, KKR and PAI Partners reportedly are in talks to acquire a majority stake in Delachaux SA, a listed French maker of railroad equipment. Delachaux is currently valued just north of €1 billion.

Energy Investors Funds has acquired the remaining 20% interest in Calypso Energy Holdings, a portfolio of 12 power generation projects with a combined capacity of 2.7GW. No financial terms were disclosed. EIF originally acquired an 80% stake in Calypso in November 2007.

JLL Partners has agreed to sell PharmaNet Development Group Inc., a provider of clinical development services, to inVentiv Health Inc., a portfolio company of THL Capital and Liberty Lane Partners. No financial terms were disclosed. www.pharmanet.com

Leeds Equity Partners has agreed to acquire Nobel Learning Communities Inc. (Nasdaq: NLCI), operator of for-profit preschools, elementary schools and middle schools. The deal is valued at nearly $125 million, or $11.75 per Nobel Learning share (36% premium to yesterday’s closing price). www.leedsequity.com

Regency Entertainment, a Greek casino operator owned by BC Partners, has breached covenants on its €700 million loan. It is asking lenders to approve a debt-for-equity swap that would wipe out BC Partners’ control.


WEDNESDAY, MAY 17

3i Group has agreed to acquire Hilite International, a Cleveland-based maker of fuel-efficient auto parts. No financial terms were disclosed, but Reuters puts the price-tag at around $300 million. Lazard managed the process. www.3i.com

3i Group has sold RBG, a British provider of inspection, assessment and repair services to the energy industry, to Stork Technical Services and Arle Capital Partners (f.k.a. Candover). No financial terms were disclosed. www.3i.com

Apax Partners has completed its $976 million acquisition of Epicor Software Corp. (Nasdaq: EPIC), a provider of enterprise business software solutions the midmarket and divisions of Global 1000 companies. Epicor stockholders received $12.50 per share, and the company has delisted from the Nasdaq. www.apax.com

Archer Capital, an Australian private equity firm, has agreed to acquire a majority stake in motorsport group V8 Supercars Australia. The deal values the racing team at more than A$300 million.

CytRx Corp. (Nasdaq: CYTR) has sold the global rights to its molecular chaperone assets to Orphazyme ApS, a Danish company backed by Novo AS and Sunstone Capital. The deal is valued at up to $120 million. Orphazyme develops therapies for genetic disorders called lysosomal storage diseases. www.orphazyme.com

Edge Adhesives, a Ft. Worth, Texas-based specialty chemicals company owned by Superior Capital Partners, has acquired Rubex Inc., a Columbus, Ohio-based maker of engineered butyl mastics, converted tapes and sealants. No financial terms were disclosed. www.superiorfund.com

Enhanced Equity Fund has completed its acquisition of the chemistry products line on Polymedco Inc., and spun the assets out into an independent company called MedTest DX. MedTest will be based in Cortlandt Manor, N.Y., and will sell chemistry instruments, reagents and instrument services to physician offices, hospitals, reference laboratories and research facilities. No financial terms were disclosed. www.polymedco.com

Nokia and Siemens are in talks with two private equity consortia, about a sale of joined venture Nokia Siemens Networks, according to Reuters. One investor group includes Gores Group and Platinum Equity, while the other includes KKR and TPG Capital.

TPG Capital is among those backing a $982 million buyout offer for CNinsure Inc. (Nasdaq: CISG), a listed Chinese insurance intermediary. The $19 per ADS offer represents a 44% premium to Friday’s closing price. Other members of the consortium include CDH Inservice, Kingsford Resources and CNinsure chairman and CEO Yinan Hu. www.cninsure.net

Actis may sell Banque Commerciale du Rwanda to Kenyan lenders, according to Bloomberg. Actis acquired an 80% stake in the Rwandan bank in 2004 at a $6 million enterprise value. www.act.is

Thomson Reuters has acquired World-Check, a London-based provider of financial crime and corruption prevention information, from Spectrum Equity Investors. No financial terms were disclosed. www.world-check.com


MONDAY, MAY 16

3i Infotech of India has agreed to sell its U.S. global billing and payments unit – including Regulus Group and J&B Software – to Cerberus Capital Management for $137 million.

Apax Partners and Deficom Telecom has agreed to acquire the Belgium and Luxembourg assets of French cable operator Numericable. Deficom will hold a 60% stake, while Apax will hold 40%. The deal is valued at more than €350 million.

Altor Equity Partners has acquired Elixia, a health and fitness club operator in Finland and Norway, from Norvestor. No financial terms were disclosed. www.altor.com

Biodel Inc. (Nasdaq: BIOD), a Danbury, Conn.-based developer of diabetes drugs, has agreed to raise around $30 million via a private placement of stock and warrants to institutional investors like Great Point Partners and Orbimed Advisors. www.biodel.com

Charterhouse has acquired a majority stake in Environmental Resource Management, a global environmental consultancy, from Bridgepoint. The deal values ERM at approximately $950 million. www.erm.com

Latexx Partners, a Malaysian glove maker, said that its planned acquisition by Navis Partners has collapsed after the two sides could not agree on final terms.

Patriarch Partners has acquired Gorham Paper and Tissue, a New Hampshire-based paper mill, from Counsel RB Capital. No financial terms were disclosed. www.patriarchpartners.com

TPG Capital has agreed to acquire media company Primedia Inc. (NYSE: PRM) for approximately $525 million. Primedia stockholders, including majority holder Kohlberg Kravis Roberts & Co., will receive $7.10 per share (62% premium to Friday’s closing price). www.primedia.com

Updata Partners has agreed to acquire the corporate Internet security business of CA Technologies. No financial terms were disclosed. www.updatapartners.com

Hellman & Friedman has hired Goldman Sachs to help sell its minority stake in asset management company Mondrian Investment Partners, according to Financial News. H&F acquired between 30% and 40% of MIP from Delaware Investments in 2004. www.mondrian.com

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