Private Equity Deals

August 22, 2011, 5:30 PM UTC

TPG Capital has agreed to acquire a 30% stake in Saxo Bank, a Copenhagen-based online trading and investment firm, from existing backers like General Atlantic and Banco Espirito Santo. The deal includes an option for TPG to increase its position to 40%. No financial terms were disclosed. Saxo will continue to be majority-owned by founders and co-CEOs Kim Fournais and Lars Seier

The Carlyle Group has agreed to invest $26 million into Value & Budget Housing Corp., an Indian builder of affordable entry level housing.

Hampson Industries (LSE: HAMP) has agreed to sell four of its aerospace components units toBridgepoint Development Capital for $84 million. The groups include two UK businesses that make shim components for the commercial and military aerospace markets.

Ritz Camera & Image, a Washington, D.C.-based operator of nearly 300 camera and image technology stores in 34 states, has raised an undisclosed amount of funding from Los Angeles-based Transom Capital


Plato Learning Inc., a portfolio company of Thoma Bravo, has offered to buy Renaissance Learning Inc.(Nasdaq: RLRN), a Wisconsin Rapids, Wis.-based provider of tech-based school improvement and student assessment programs for K-12 schools. The $15.50 per share, or $455 million, offer tops an existing $14.85 per share bid from

American Hospice, a Jacksonville, Fla.-based acquisition platform sponsored by The Riverside Co., has acquired two Texas hospices from Hospice Care of the Southwest. No financial terms were

3ality Digital, a Burbank, Calif.-based portfolio company of Clearlake Capital Group, has acquired Element Technica, to form a single company that provides end-to-end stereoscopic 3D solutions. No financial terms were disclosed.

CVC Capital Partners has agreed to acquire Raet, a Dutch provider of payroll and HR software, fromAdvent International and Taros Capital. No financial terms were disclosed, although Reuters puts the sale price at below €400 million.

Darwin Private Equity has sponsored a £50 million management buyout of Attenda Ltd., a provider of managed hosting services to British businesses.

HealthPlan Holdings, a Tampa, Fla.-based portfolio company of Water Street Healthcare Partners, has acquired Zenith Administrators Inc., a Moneka, Ill.-based outsourced solutions to healthcare insurers. No financial terms were disclosed.

Kayne Anderson Energy Funds has made an initial equity commitment of $75 million to Raptor Petroleum II, an Edmond, Okla.-based exploration and production company focused on developing unconventional reservoirs. It is being led by a management team comprised of former Anadarko Petroleum Corp. executives.


H.I.G. Capital and its debt affiliate, Bayside Capital, have acquired Bezier, a British provider of integrated point of sale marketing services. No financial terms were disclosed. Bezier has annual revenue of approximately £100 million.

Brynwood Partners has agreed to acquire certain hair-care brand assets of Unilever, including Albert VO5 in the U.S. and Rave globally. No financial terms were disclosed. Unilver is divesting the assets to gain regulatory approval for its $3.7 billion acquisition of Alberto Culver.

The Australian government today said it has no plans to sell its majority stake in flagship air carrier Qantas Airways, following reports that private equity firms may be circling. It also said that it has not received any takeover approaches for the position.

LHP Hospital Group, a Plano, Texas-based hospital platform sponsored by CCMP Capital Advisors and Canada Pension Plan Investment Board, has agreed to build a new $400 million hospital in Connecticut. To do so it will merge existing portfolio hospital St. Mary’s Hospital with newly-acquired Waterbury Hospital.

Motorola Solutions Inc. (NYSE: MSI) has agreed to sell its point-to-point (Orthogon) and point-to-multipoint (Canopy) wireless broadband network businesses to Vector Capital. No financial terms were disclosed for the deal, which is expected to close in September.

Ziff Davis Inc. has acquired Focus Research Inc., a provider of online research to enterprise buyers and leads to IT vendors. No financial terms were disclosed. Focus Research had raised VC funding from Lightspeed Ventures, Trinity Ventures and GGV Capital. Ziff Davis is backed by Great Hill Partners.


ABRY Partners has completed its previously-announced acquisition of Masergy Communications Inc., a Plano, Texas-based provider of virtualized network services for the enterprise. No financial terms were disclosed. Masergy shareholders include Meritage Funds (39.8 stake), Centennial Ventures (35.9%) and Siguler Guff & Company (5.8%).

Aderant, a portfolio company of Vista Equity Partners, has acquired CompuLaw LLC, a Los Angeles–based provider of automated rules-based legal calendaring solutions. No financial terms were disclosed. CompuLaw was advised on the deal by Clear Capital Advisors, a unit of Fallbrook Capital

Advent International has acquired Charlotte-based restaurant chain Bojangles’ Restaurants fromFalfurrias Capital Partners. No financial terms were disclosed. Harris Williams & Co. advised Falfurrias on the deal.

Brynwood Partners has acquired Pearson Candy Co., a St. Paul, Minn.-based maker of confectionary products. No financial terms were disclosed.

Huntsman Gay Global Capital has acquired Hybris, a Munich-based multichannel commerce software company, and merged it with existing portfolio company iCongo. No financial terms were disclosed.

Providence Equity Partners has agreed to acquire George Little Management from Daily Mail and General Trust PLC (LSE: DMGT). The deal is valued at $173 million in cash. GLM is a White Plains, N.Y.-based producer of tradeshows and events. Going forward it will be run by Charlie McCurdy, who previously was CEO of Canon Communications.

Vector Capital has completed its $283 million, take-private acquisition of Gerber Scientific, a Tolland, Conn.-based provider of manufacturing systems for the sign making, specialty graphics, packaging, apparel and industrial industries.


ConvaTec Inc., a portfolio company of Avista Capital Partners, has offered to buy wound-care companyKinetic Concepts Inc. (NYSE: KCI), according to Bloomberg. No specific financial terms were disclosed, except that the offer tops an existing $68.50 per share, or $5 billion, bid currently on the table from Apax Partners. Kinetic Concepts currently is in a “go-shop” period, related to the Apax bid.

99 Cent Only Stores (NYSE: NDN) will consider a buyout offer from Apollo Global Management, according to the NY Post. The discount retailer’s founding family originally teamed up with Leonard Green & Partnerson a $1.34 billion, or $19.09 per share, buyout offer, but now reportedly will seek a more competitive process.

Bain Capital has agreed to acquire MYOB Ltd., an Australian accounting software company, from Archer Capital and HarbourVest Partners for approximately A$1.2 billion.

BHI Energy, a portfolio company of Harvest Partners, has acquired AMES Group Holdings , a provider of valve inspection and testing, preventative maintenance and repair solutions to the U.S. commercial nuclear power industry. No financial terms were disclosed.

The Carlyle Group has completed its acquisition of a majority stake in SagemCom, a French maker of products for the broadband, set top box and printing industries, from Gores Group. No financial terms were disclosed.

Sun Capital Partners is among several firms to reach the second round of bidding for 630 Lloyds bank branches, in a deal that could be valued at around £2.5 billion. No word yet on who Sun may be partnering with. Other bidders include NBNK Investments and The Co-Operative Group.

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