Private Equity deals

August 8, 2011, 5:05 PM UTC

Acon Investments has formed Saga Resource Partners, to acquire he Black Warrior Basin assets of Saga Petroleum Corp. and the Black Warrior Basin coal-bed methane assets from an undisclosed seller. No pricing terms were disclosed. Acorn was joined on the deal by Saga Petroleum’s management team, GCP Capital Partners, Wells Fargo Energy Capital and Société Générale.

Ascentium Capital has launched as a lender focused on small-balance commercial loans and leases in the United States. It is capitalized with $75 million in equity from firms like Vulcan Capital and LKCM CapitalGroup. It also has secured a $250 million warehouse facility led by UBS Investment Bank.

Morgan Stanley Private Equity has acquired a majority stake in Sterling Energy Co.’s midstream business in Colorado and North Dakota. No financial terms were disclosed.

MCC Capital Partners has sold SOG Specialty Knives and Tools LLC, a Lynnwood, Wash.-based maker of specialty knives and tools for the hunting/outdoors, military/law enforcement and industrial markets. The acquiring consortium included Montlake Capital, The Mustang Group and Gladstone Investment Corp. No financing terms were disclosed, except that Gladstone’s equity and debt contribution came to $28.1

Rowmark LLC, a Findlay, Ohio-based portfolio company of Clearview Capital, has acquired Southtech Plastics Inc., a New Barn, N.C.-based maker of extruded sheet and decorative laminates. No financial terms were disclosed.

Twin Lakes Capital has formed Jay Strongwater LLC in partnership with Jay Strongwater, an American designer of luxury collectible home furnishings and personal accessories. No financial terms were disclosed.


Audax Group has acquired Neptune-Benson Inc., a Coventry, R.I.-based maker of pool filtration systems and recirculation components for the commercial aquatics industry. No pricing terms were disclosed. Maranon Capital provided mezzanine debt and minority equity financing to support the

BFG Supply Company LLC, a distributor of greenhouse and nursery supplies, has acquired certain assets of Wesel Inc., a Harrisonburg, Va.–based distributor of professional turf, horticultural and lawn and garden supplies to retailers. No financial terms were disclosed. BFG is a portfolio company of Tricor Pacific

Jefferies Capital Partners has agreed to sponsor American Dialysis Corp., a platform for buying and building dialysis centers throughout the United States. No financial terms were disclosed. ADC is led by Thomas Langbein, former chairman of Dialysis Corp. of America.


The Blackstone GroupCenterbridge Capital Partners and Lone Star Funds submitted first-round bids for all of Anglo Irish Bank Corp.’s $9.65 billion U.S. property loan portfolio, according to Bloomberg. Cerberus, Colony Capital and TPG Capital submitted bids for at least part of the portfolio.

ConocoPhillips has agreed to sell its Wilhelmshaven oil refinery, tank farm and marine terminal – located on the German North Sea coast – to Hestya Energy BV, a Dutch company focused on the European midstream oil sector. No pricing terms were disclosed. Equity support is being provided to Hestya Energy by Riverstone/Carlyle Global Energy and Power Funds and AtlasInvest.

Eagle Hospital Physicians, a portfolio company of Flexpoint Ford and Highlander Partners, has acquiredPrimeDoc Management Services, an Asheville, N.C.-based hospitalist practice management company. No financial terms were disclosed.

Practice Insight LLC, a Houston, Texas–based provider of SaaS-based revenue cycle management solutions to healthcare providers, has raised an undisclosed amount of growth equity from Halyard

Soltas Energy Corp., a portfolio company of Barron Partners, has acquired a majority stake in Sunergy America LLC, a Wall N.J.-based electrical contractor focused on solar installations. No financial terms were disclosed.

Thorpe Corp., a portfolio company of The CapStreet Group, has acquired Blagrave & Duffey Inc., a Houston, Texas-based maker and installer of refractory and mechanical products for the industrial steel processing and metal forming/heat-treating industries. No financial terms were


France Telecom is receiving private equity interest in its Switzerland business (Orange Switzerland), according to Reuters. A deal could be worth around €1.5 billion, with interested parties including Apax Partners, EQT Partners and Providence Equity Partners.

Great Hill Partners has acquired Plimus Inc., a Fremont, Calif.-based orivuder if e-commerce solutions for software publishers, web hosting companies and online retailers The deal was valued at $115 million. Sellers include Susquehanna Growth Equity and company employees. Raymond James & Associates advised Plimus on the transaction.

Platinum Equity has acquired Quark, a Denver–based provider of publishing software for professional designers and enterprise organizations. No financial terms were disclosed.

TPG Capital has acquired a control stake in Russian retailer Lenta, according to Reuters. TPG was joined on the $1.1 billion deal by VTB Capital and the European Bank for Reconstruction and Development. The transaction represented a 44% stake in Lenta, but TPG and VTB previously held a 30.8%

TPG Capital is among the bidders for a control stake in Indonesian tire maker PT Multistrada Arah Sarana, according to Reuters. The deal could be worth more than $200 million, with Hankook Tire (South Korea) and Yokohama Rubber (Japan) also bidding.

TPH Partners has sponsored the formation of Clearfork Resources LLC, a Fort Worth, Texas-based oil and natural gas company that will acquire and develop both conventional and unconventional reservoirs in Texas. The company is led by Glenn Read, former co-founder and VP of operations for Approach Resources (Nasdaq: AREX). No financial terms were disclosed.

Webtrends, a portfolio company of Francisco Partners, has acquired real-time web analytics companyReinvigorate from shareholders like Media Temple Ventures. No financial terms were disclosed. Morgan Joseph TriArtisan advised the sellers.

Wind Point Partners has sold Marshfield DoorSystems, a Marshfield, Wis.-based provider of doors and door components for commercial and architectural markets, to Masonite International, a portfolio company of KKR.

Eagle Hospital Physicians, a portfolio company of Flexpoint Ford, has acquired Inpatient Management Inc., a St. Louis-based hospitalist management company. No financial terms were

WL Ross & Co. has increased its stake in Dallas-based oil and gas company Exco Resources Inc. (NYSE: XCO) from 2% to 12%, according to an SEC filing. Exco said late last month that it had reached an agreement with Ross that prevented the investment firm from making a buyout offer for the company.


Bain Capital and KKR are among those circling MYOB Ltd., an Australian accounting software company currently owned by Archer Capital and HarbourVest Partners, according to Reuters. The deal could be worth around $1 billion.

Bain Capital today is expecting final bids for FCI, a French maker of electrical connectors, according to Reuters. The deal could be valued at around $1 billion, with possible bidders to include Astorg Partners, AXA Private Equity, Unitas Capital, The Blackstone Group, Carlyle Group and TPG

Cinven is in exclusive talks to acquire the Guardian life insurance unit of Aegon NV, according to multiple press reports. The deal could be valued at between £250 million and £300 million.

Clearview Capital has acquired Pyramid Healthcare Inc., an Altoona, Penn.-based provider of drug, alcohol and mental health treatment for adults and adolescents. No financial terms were disclosed. Pyramid operates 21 treatment facilities throughout Pennsylvania.

GP Investments has acquired the 65% stake in Brazilian steakhouse group Fogo de Chão Churrascariathat it did not already own.

Fortress Investment Group has purchased $205 million of newly-issued convertible preferred stock inHarbinger Group Inc. (NYSE:  HRG). The total fundraise was $400 million, with other buyers including Providence Equity Partners, Wilton Re Holdings, JHL Capital Group, DDJ Capital Management and Luxor Capital Group. The entire deal represents 30% of HGI’s outstanding common stock on an as-converted basis.

Last week’s private equity deals