Private Equity Deals

May 8, 2011, 9:00 PM UTC

The Carlyle Group and Providence Equity Partners are seeking bidders for Com Hem AB, a Stockholm-based cable operator, according to Bloomberg. The deal could be worth more than €2 billion, with interested suitors including The Blackstone Group, Nordic Capital, Hellman & Friedman, CVC Capital Partners and BC Partners.

Bridgepoint and Eurazeo have agreed to acquire the Foncia real estate unit of French financial services group BPCE, for €1.02 billion.

CVC Capital Partners has agreed to acquire a 15% stake in Philippine bank Rizal Commercial Banking Corp. for approximately $115 million.

Leucadia National Corp. (NYSE: LUK) has partnered with Centerbridge Capital Partners to bid for CitiFinancial, the consumer lending unit of Citigroup, according to Bloomberg.

Monitor Clipper Partners has acquired the assets of Pharmetics Inc., a Quebec-based maker of vitamin, mineral and dietary supplements. No financial terms were disclosed.

Temasek Holdings and RRJ Capital paid around $3.5 billion for their 70% stake in Frac Tech Holdings, a Cisco, Texas-based provider of hydraulic fracturing solutions, according to Dow Jones. The deal had been previously announced without a price-tag.

Warburg Pincus has acquired an undisclosed stake in Diligent Power Pvt Ltd., an Indian developer of large power projects.


Appalachian Midstream Partners, a natural gas gathering and transportation services company operating in the Marcellus Shale, has secured an equity commitment of up to $176 million from Avista Capital Partners.

Charlesbank Capital Partners has agreed to acquire DEI Holdings Inc. (OTC BB: DEIX), a Vista, Calif.-based maker of loudspeakers for home theaters. The deal is valued at approximately $285 million, or between $3.79 and $3.81 per share (approximately 142% premium to Wednesday’s closing share price). GE Capital and OPY Credit Corp. have committed debt financing.

Takeda Pharmaceutical Corp. reportedly is in talks to acquire Swiss drug-maker Nycomed for more than $12 billion. Nycomed is owned by private equity firms Nordic Capital, DLJ Merchant Partners, Coller Capital and Avista Capital Partners.

Advent International is in talks to acquire a stake in Mexican airport operator Grupo Aeroportuario del Centro Norte (OMA) from construction company ICA, according to AltAssets. No financial terms were reported.

AXA Private Equity has agreed to acquire a 30% stake in FrancEnergies Group, a French provider of renewable energy solutions. No financial terms were disclosed.

Landis+Gyr AG, a Swiss maker of electronic meters, has received buyout bids from TPG Capital, EQT Partners and Toshiba Corp., according to Bloomberg. The deal could be worth around $2 billion.

EQT Partners has received bids from at least seven buyout firms for Securitas Direct, an alarm-maker that could be worth more than $3 billion, according to Reuters. Suitors include The Blackstone Group, The Carlyle Group, Bain Capital, BC Partners, CD&R, Hellman & Friedman and Nordic Capital. Stanley Black & Decker also may bid.

Novacap has acquired Idaho Pacific Holdings, a manufacturer of dehydrated potato products for use in the industrial food and baking industries, from Otter Tail Corp. No financial terms were disclosed. Harris Williams & Co. managed the process.

Sun Capital Partners has acquired Britton Flexibiles Ltd., a UK-based maker of flexible packaging solutions. No financial terms were disclosed.

TA Associates has acquired a minority position in Tega Industries Ltd., an India-based provider of consumables for the global mining industry. No financial terms were disclosed, but Mint puts the investment figure at $40 million.

Thoma Bravo has agreed to acquire TripWire, a Portland, Ore.-based provider of IT security and compliance automation software solutions. No financial terms were disclosed. TripWire is in registration for an $86.25 million IPO, and has raised over $110 million in VC funding. Shareholders include Advanced Technology Ventures (22.38% stake), Bessemer Venture Partners (10.06%), International Venture Partners (8.71%) and Industry Ventures (5.7%).


Arlington Capital Partners has sponsored a recapitalization of Iron Data LLC, an Atlanta-based provider of process management solutions for clients in the public and transportation sectors. No financial terms were disclosed.

BC Partners has agreed to acquire Italian department store operator Gruppo Coin from PAI Partners for €1.3 billion (including debt).

The Blackstone Group and KKR are considering making bids for France Telecom‘s 52.9%stake in Belgian telecom company Mobistar, according to Reuters. The deal could value Mobistar at more than €3 billion.

Bunker’s Group, a marine oil distributor in Mexico, has raised an undisclosed amount of funding from Alta Growth Capital in exchange for a minority position.

Five Elms Capital has invested an undisclosed amount in Smart Warehousing, a Kansas City-based tech-enabled warehousing and supply chain management company.

ION Trading, a portfolio company of TA Associates, has agreed to acquire Wall Street Systems from Warburg Pincus, according to peHUB. Wall Street Systems is a New York-based provider of treasury, trading and settlement services.


Apple American Group, the nation’s largest Applebee’s franchisee, has raised an undisclosed amount of growth capital from Goldman Sachs Capital Partners and Weston Presidio. Goldman purchased some of its shares from Weston Presidio, which first invested in AAG six years ago. Goldman itself is a former AAG sponsor, having been an investor between 2001 and 2005.

Bunker’s Group, a marine oil distributor in Mexico, has raised an undisclosed amount of funding from Alta Growth Capital in exchange for a minority position.

Metadigm Services, an Atlanta–based provider of metering infrastructure-related services to electric utilities in the Southeastern U.S., has acquired Power Engineering Associates Inc., a Cleveland, Tenn.-based utility consultancy. No financial terms were disclosed. Metadigm is a portfolio company of Navigation Capital Partners.

Platinum Group has acquired the assets of Nordquist Sign Company Inc., a Minneapolis-based maker of signs for businesses. No financial terms were disclosed.

Apollo Global Management has agreed to acquire CKx Inc. (Nasdaq: CKXE), owner of American Idol and naming rights to Elvis Presley. The deal is valued at around $509 million, or $5.50 per share (25% premium to yesterday’s closing price). Goldman Sachs provided a debt financing commitment. Other reported suitors had included One Equity Partners and Gores Group.

H.I.G. Capital and its Bayside Capital debt affiliate have acquired Silentnight Ltd., a UK-based mattress and bedding manufacturer that had filed for administration. No financial terms were disclosed.

Redflex Holdings, a listed Australian maker of traffic signals, has rejected an A$303 million buyout offer from The Carlyle Group and Macquarie Group.


The Gores Group has acquired Sage Automotive Interiors Inc., in partnership with company management, from Azalea Capital. No financial terms were disclosed. Sage is a Greenville, N.C.-based provider of automotive bodycloths, including knit and woven technical textiles, to auto OEMs.

Perella Weinberg Partners has formed CarFinance Capital, an Irvine, Calif.-based direct and indirect automobile finance company focused on the sub-prime market. It will initially launch on the West Coast, with plans to expand to Texas in June and throughout the rest of the U.S. later this year. No financial terms were disclosed. The senior executive team, including CEO Jim Landy, previously ran Triad Financial Corp.

River Associates Investments has sold its stake in Coining Holding Co. to Ametek Inc. (NYSE: AME) for $148 million. Coining is a Montvale, N.J.-based maker of custom-shaped solder and brazing performs used for joining applications in microelectronics packaging and assembly. The sale represented more than a 6x return on investment.

Bridgepoint and Eurazeo have acquired the Foncia real estate unit of French bank Groupe BPCE, according to Les Echos. No financial terms were disclosed.

Francisco Partners has sold Mincom Pty Ltd., a provider of software and services to companies in asset-intensive industries, to ABB Ltd. No financial terms were disclosed. Jefferies & Co. advised Mincom on the deal.

Investcorp has acquired a majority stake in Eviivo Ltd., a UK-based provider of online hotel booking solutions. The deal was valued at approximately £30 million.

Sophos PLC, an anti-virus software maker owned by Apax Partners, has agreed to acquire Astaro Internet Security, a German network security company backed by Insight Venture Partners and Wellington Partners. No financial terms were disclosed.

Waud Capital Partners has acquired Revenue Cycle Solutions Inc., a Westchester, Ill.–based provider of hospital account resolution services. No financial terms were disclosed.

Hanover Partners and Tuckerman Capital have sold Solidscape Inc., a Merrimack, N.H.–based maker of 3D printer systems, to Stratasys, (Nasdaq: SSYS). No financial terms were disclosed.

FinnvedenBulten, a Swedish auto parts maker owned by Nordic Capital, plans to go public in Stockholm. The company plans to raise upwards of $105 million.

Samsonite, a Luxembourg-based luggage backer owned by CVC Capital Partners and Royal Bank of Scotland, is planning to go public in Hong Kong. IFR reports that the company is hoping for a listing hearing with the Hong Kong exchange later this month, with Goldman Sachs, HSBC and Morgan Stanley to serve as co-lead underwriters.


Advent International has agreed to acquire TES Group, a Czech maker of custom power generators and components used in the production of hydro, wind and non-renewable energy generation. No financial terms were disclosed. Penta Investments is the seller.

The Carlyle Group and Stephens Group have completed their previously-announced $200 million investment in Georgia-based bank operator Brand Group Holdings, alongside the Cousins’ family’s Nonami Investments.

Clearview Capital Partners has sponsored a recapitalization of TC Inspection and Hawk Rope Access Services, Rodeo, Calif.-based providers of inspection and non-destructive testing services to the energy sector in Northern California. No financial terms were disclosed.

Littlejohn & Co. has sponsored a recapitalization of Synventive Molding Solutions, a Peabody, Mass.–based maker of hot runner systems and related components for the global injection molding industry. No pricing terms of the debt-for-control investment were disclosed.


CMA Corporation Ltd., an Australian recycling group that has been in voluntary suspension since February 2010, has agreed to receive an undisclosed amount of private funding from KKR Asset Management. The deal, if approved by CMA shareholders, would include an equity commitment, plus newly-issued subordinated debt and “access to new credit facilities.”

Focus DIY, a British retailer owned by Cerberus Capital Management, has hired administrators after determining that it was about to default on its loans.

H.I.G. Capital has completed its take-private acquisition of NovaMed Inc., an operator of ambulatory surgery centers in partnership with physicians. The deal was valued at approximately $214 million, including assumption or repayment of $105 million of indebtedness. NovaMed stockholders received $13.25 per share.

INC Research LLC, a therapeutically-focused global contract research organization, has agreed to acquire Kendle International Inc. (Nasdaq: KNDL), a global CRO focused on Phase I-IV clinical development. The deal’s equity value is approximately $232 million, or $15.25 per Kendle share (60.5% premium to yesterday’s closing price). INC Research is owned by Avista Capital Partners and Ontario Teachers’ Pension

Lion Capital and Goode Partners have agreed to acquire fashion brand AllSaints Spitalfields. No financial terms were disclosed, except that AllSaints had 2010 revenue of over £200

Onex Partners has agreed to acquire a 39% stake in Jeld-Wen Holdings Inc., a Portland, Ore.-based doormaker, via a $475 million purchase of convertible preferred stock. It also will invest an additional $200 million via an 18-month convertible note.

SK Capital Partners has sponsored a recapitalization of Calabrian Corp., a Port Neches, Texas-based manufacturer of sulfur chemicals and derivatives for the water treatment and food and beverage preservation industries. No financial terms were disclosed. McGladrey Capital Markets managed the process.