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Private Equity Deals

By
Dan Primack
Dan Primack
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By
Dan Primack
Dan Primack
Down Arrow Button Icon
June 27, 2011, 2:15 PM ET

Providence Equity Partners has agreed to buy coursework software company Blackboard Inc. (Nasdaq: BBBB) for $1.64 billion in cash, or $45 per share (3.7% premium to yesterday’s closing price). Providence also would assume $130 million of Blackboard debt. www.blackboard.com

AEP Capital and The Wicks Group of Cos. have acquired Bonded Services Group Ltd., a provider of storage and media management services to the global movie, music and television industries. No financial terms were disclosed. www.bondedservices.com

Baird Capital Partners has acquired Justrite Manufacturing Co., a Des Plaines, Ill.-based maker of safety products for the handling and storage of flammable and hazardous liquids, from The Riverside Company. JZ Capital Partners and company management also participated. No financial terms were disclosed. www.bairdprivateequity.com

Berkshire Partners and OMERS Private Equity have completed their previously-announced acquisition of Husky International Ltd. from Onex Partners. The deal was valued at around $2.1 billion, with financing provided by Goldman Sachs, Morgan Stanley Senior Funding, RBC Capital Markets and TD Securities. Husky is an Ontario-based provider of injection molding equipment and services for the plastics industry. It was acquired by Onex for just under $1 billion in 2007. www.husky.ca

FedCap Partners has acquired Point One, an Arlington, Va.-based provider of cybersecurity policy development, from XeDAR Corp. No financial terms were disclosed. www.fedcappartners.com

J.F. Lehman & Co. has acquired US Joiner, a Crozet, Va.-based domestic provider of marine joiner and furniture solutions for U.S. government and commercial customers. No financial terms were disclosed for the deal, which was done in partnership with company management. www.jflpartners.com

MidOcean Partners has completed its take-private acquisition of Ada, Okla.-based Pre-Paid Legal Services Inc. The deal was valued at approximately $650 million, or $6.50 per share.

Ventizz Capital has agreed to acquire Swedish camera maker Hasselblad Group from Hong Kong-based Shiro Group. No financial terms were disclosed. www.ventizz.com

 

THURSDAY, JUNE 30

Parthenon Capital Partners has agreed to acquire the H.D. Vest Financial Services unit of Wells Fargo & Co. (NYSE: WFC). No financial terms were disclosed. H.D. Vest is an Irving, Texas-based provider of independent financial solutions to over 1.8 million retail investors through an advisor base of over 4,800 tax professionals. www.hdvest.com

Standard Chartered Private Equity has acquired a 49% stake in Doosan Industrial Vehicles, a South Korean forklift maker. No financial terms were disclosed. www.standardchartered.com

Welsh, Carson, Anderson & Stowe has acquired Solantic, a Jacksonville, Fla.-based operator of 32 urgent care centers in Florida. No financial terms were disclosed. www.solantic.com

WEDNESDAY, JUNE 29 

B&G Crane Service LLC, a New Orleans-based portfolio company of The Sterling Group, has acquired the assets of Ray Anthony International LLC, a Texas-based company whose fleet includes 23 cranes. No financial terms were disclosed. www.sterling-group.com

Leonard Green & Partners and CVC Capital Partners have agreed to buy BJ’s Wholesale Club Inc. (NYSE: BJ) for $2.8 billion, or $51.25 per share in cash. This represents a 7% premium to yesterday’s closing price, and a 38% premium to June 30, 2010, when Leonard Green first disclosed a 9.5% ownership in the wholesaler. www.bjs.com

Penta Investments will offer to acquire listed Austrian engineering company A-TEC, which is required to find a buyer by June 30 due to a credit agreement, according to a local press report.

TelePacific Communication, a Los Angeles-based portfolio company of Investcorp and Clarity Partners, has agreed to acquire Tel West Network Services, a provider of telecom services to businesses and government clients in Texas. No financial terms were disclosed. www.telepacific.com

TUESDAY, JUNE 28

ABRY Partners has agreed to acquire Masergy Communications Inc., a Plano, Texas-based provider of virtualized network services for the enterprise. No financial terms were disclosed for the deal, which is expected to close within the next 90 days. Masergy recently said it was postponing a $100 million IPO due to market conditions. Shareholders include Meritage Funds (39.8 stake), Centennial Ventures (35.9% pre-IPO stake) and Siguler Guff & Company (5.8%). www.masergy.com

Clayton Dubilier & Rice is among those interested in bidding on the mutual fund business of Hartford Finance Services Group (NYSE: HIG), according to multiple press reports. The unit has $104 billion in assets under management, and is expected to sell for up to $1.5 billion. www.cdr-inc.com

Ellipse Capital has acquired 3Sixty Group/Monroe Engineering Products, a Michigan-based maker and distributor of industrial products. No financial terms were disclosed. Sellers include Quantum Ventures of Michigan. www.qvmllc.com

Network Hardware Resale LLC, a Santa Barbara, Calif.-based provider of low-cost networking solutions, has raised an undisclosed amount of private equity and subordinated debt from Cyprium Investment Partners. www.networkhardware.com

Symphony Technology Group will offer to buy the 64% of shares it doesn’t already own in Aldata, a publicly-traded Finnish provider of consumer business optimization software, at a 30% premium. www.aldata-solution.com

MONDAY, JUNE 27

Cornerstone Records Management, a portfolio company of Sterling Partners, has acquired the assets of MedResolutions Corp., a Pinehurst, Texas-based secured storage company focused on hardcopy records, medical release of information services and document scanning. No financial terms were disclosed.

MBF Healthcare Partners has acquired a minority stake in eMindful Inc., a Vero Beach, Fla.–based provider of tech-enabled health and wellness solutions. No financial terms were disclosed. www.emindful.com

Versa Capital Management has acquired the assets of Böwe Bell + Howell, a provider of solutions and services for paper-based and digital messaging solutions. No financial terms were disclosed. www.bellhowell.net

AXA Private Equity has agreed to buy around a 52% stake in France’s Groupe Outremer Telecom (Paris: OMT), a French, for €12 per share from Apax Partners and Outremer’s founding CEO.www.axaprivateequity.com

CCMP Capital Advisors is planning to invest around $50 million of equity into portfolio company Quiznos, in order to help the sandwich chain refinance its debt, according to Bloomberg. The company also plans to offer new debt alongside the equity. www.quiznos.com

Kohlberg Kravis Roberts & Co. and Silver Lake Partners are in talks to buy GoDaddy, an Internet domain-name and hosting company, for between $2 billion and $2.5 billion, as first reported by the WSJ. An announcement is expected early this week. www.godaddy.com

OpenGate Capital has completed its previously-announcec acquisition of Norampac Avot-Vallée, a French maker of packaging materials composed of recycled fibers, from Cascades Inc. (TSX: CAS). No financial terms were disclosed. www.opengatecapital.com

MBK Partners and Vogo Fund may bid in the South Korean government’s $6 billion auction of a 57% stake in Woori Finance Holdings, according to a local press report.

Water Street Healthcare Partners has acquired MarketLab Inc., a Caledonia, Mich.-based direct marketer of healthcare products. No financial terms were disclosed, although Dow Jones puts the equity value at $70 million. www.wshp.com

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