Private Equity Deals

July 18, 2011, 6:14 PM UTC

CVC Capital Partners has agreed to acquire ConvergEx Group, a New York-based provider of software and tech-enabled services to asset managers, from GTCR. No financial terms were disclosed. ConvergEx filed for a $400 million IPO back in MAy.

Telia Norge, a unit of TeliaSonera, has agreed to sell its stake in North Sea Communications Inc. to private equity firm HitecVision. The deal is valued at approximately SEK 170 million ($26.5m). NSC operates a fiber optical cable system between Norway and the UK, for use by the offshore oil and gas industry operating in the southern part of ther North Sea.

Providence Equity Partners has completed its $1.88 billion take-private acquisition of SRA International, a provider of technology and strategic consulting solutions to government organizations and commercial clients.

Veronis Suhler Stevenson has acquired Strata Decision Technology LLC, a Chicago-based provider of collaboration, coordination and communication software for senior financial executives. No financial terms were disclosed. Berkery, Noyes, & Co. advised SDT on the deal.

Sun Capital Partners has completed its acquisition of Contessa Premium Foods, a San Pedro, Calif.-based processor and distributor of  seafood and frozen bagged convenience meals, via a bankruptcy sale. Sun also named former StarKist chief executive Donald Binotto as Contessa’s new



Ascend Learning, a portfolio company of Providence Equity Partners, has acquired PrepMe, a Chicago-based developer of a adaptive learning platform and virtual classroom. No financial terms were

Treadstone Energy Partners has been formed as a Houston, Texas-based oil and gas company focused on exploitation and development upside in the Mid-Continent region and Texas. The founding team previously was with BP, while Treadstone is seeded with an initial $50 million equity commitment led byKayne Anderson Energy

Vodafone is in talks with private equity firms about selling a stake in its India operations, according to The Economic Times.


EQT Partners has acquired Atos Medical , a European provider of voice prosthesis solutions, from Nordic Capital. No pricing terms were disclosed. Danske Bank, DnB NOR and Nordea provided senior debt financing, while mezzanine facilities were provided by MezzVest and Partners Group. Atos reported €64 million in 2010 sales.

Align Networks Inc., a Jacksonville, Fla.-based provider of workers’ compensation physical medicine programs, has raised an undisclosed amount of private equity funding from General Atlantic.

Bound Tree Medical, a Dublin, Ohio-based provider of emergency medical supplies and equipment to the pre-hospital market, has acquired Alliance Medical Inc., a Jefferson City, Mo.-based distributor of emergency medical services products. No financial terms were disclosed. Bound Tree is a portfolio company of Water Street Healthcare Partners.

H.I.G. Capital has acquired Haltermann Products, a German maker of hydrocarbon chemicals and test fuels from The Dow Chemical Co. for an undisclosed amount.

Mid Europea Partners has acquired a 65% stake in Turkish hospital chain Kent Hospital Group from Bakioglu Holding AS. No financial terms were disclosed. Mid Europa plans to eventually increase its stake to upwards of 90%.

Quintiq, a Radnor, Penn.-based provider of planning, scheduling and supply chain optimization software, has raised an undisclosed amount of minority equity funding from LLR Partners and NewSpring Capital.

Standard Chartered Private Equity has invested $56 million in Varun Beverages International, an India-based bottler and distributor of PepsiCo beverage products.

Sterling Investment Partners has agreed to acquire Excelligence Learning Corp. from Thoma Bravo for an undisclosed amount. Excelligence is a Montrerey, Calif.-based provider of educational products and supplies for preschool-elementary school clients and consumers.

Thorpe Products Co., a portfolio company of CapStreet Group, has acquired Integrated Distribution Services Inc., a distributor of industrial, commercial and mechanical insulation. No financial terms were disclosed.


H.I.G. Capital and Solidus Partners have acquired a majority stake in Austro-German Hanlo Group, a Germany-based prefabricated construction company. No financial terms were disclosed. Hanlo will be folded into a new platform called Green Building Group, which plans to focus on environmentally-friendly prefabricated construction throughout Europe.

Liz Claiborne Inc. (NYSE: LIZ) is in talks to sell its Mexx brand, according to Bloomberg. Possible suitors include private equity firms Golden Gate Capital, Leonard Green & Partners and Sun Capital Partners. The deal could be valued at up to $100 million, with Liz Claiborne expected to retain a minority ownership position.

KKR and Munich Re have jointly agreed to acquire a 49% equity stake in the operating assets of Grupo T-Solar, Europe’s largest solar photovoltaic power generator with current capex of nearly €1.1

Go here for last week’s private equity deals