Private Equity deals

November 14, 2011, 8:01 PM UTC

Bain Capital has agreed to acquire Physio-Control, a Redmond, Wash.–based provider of emergency medical response technology, from Medtronic Inc. (NYSE: MDT) for approximately $487 million.  Citigroup and RBC are providing leveraged financing, while Medtronic was advised on the deal by Goldman Sachs. www.physio-control.com

The Gores Group has acquired the remaining shares of Stock Building Supply Holdings LLC, a provider of building materials to U.S. professional home builders and contractors, from Wolseley PLC. No financial terms were disclosed. Gores originally acquired a controlling interest in Stock more than two years ago.www.gores.com

GenNx360 Capital Partners has acquired a majority position in Synecron, an Ireland-based provider of asset-light logistics and supply chain solutions in which GenNx360 has previously invested. No financial terms were disclosed. www.synecron.com

Landsbanki and Glitnir are expecting second-round bids for British frozen foods company Iceland Foodsearly next year, according to Reuters. The deal could be valued at more than $2 million, with first-round bids coming from Bain Capital, BC Partners, Blackstone Group, TPG Capital and several European grocery chains.

PACCOR, a European portfolio company of Sun Capital Partners, has acquired Hungarian plastic packaging company Pannunion Packaging PLC from PannErgy PLC for an undisclosed amount.www.suncappart.com

Woodstream Corp., a Lititz, Penn.-based portfolio company of Brockway Moran & Partners and Code Hennessy & Simmons, has acquired the assets and certain liabilities of Iron Stop Inc., a Denton, Texas–based maker of home and garden décor products, specializing in metal wind spinners and twisters. No financial terms were disclosed. www.woodstream.com

THURSDAY, NOVEMBER 17

Advantage PartnersBain Capital and Orix Corp. have reached the final round of bidding for Japanese accounting software company Yayoi, according to Reuters. Yayori owner MBK Partners is seeking around $800 million. Earlier suitors reportedly included KKR and Olympus Capital.

Centre Partners
 and Mill Street Partners has acquired Den-Mat Holdings, a Santa Maria, Calif.–based maker of thin, porcelain veneer systems for smile enhancement. No financial terms were disclosed.www.centrepartners.com

Spotless Group, an Australian provider of cleaning and laundry services, has rejected an A$698 million buyout offer from Pacific Equity Partners. Six months ago, it rejected an A$657 million buyout offer from The Blackstone Group. www.pep.com.au

WEDNESDAY, NOVEMBER 16

Providence Equity Partners is considering an offer for Maple Leaf Sports & Entertainment, owner of Toronto’s NHL and NBA franchises (plus the Air Canada Center), according to the Toronto Star. MLSE is currently owned by the Ontario Teachers’ Pension Plan. www.provequity.com

Altus Capital Partners has acquired Models & Tools, a Shelby Township, Mich.–based maker of tight tolerance tooling systems for the aerospace and defense industries. No financial terms were disclosed.www.altuscapitalpartners.com

Compass Investment Partners has acquired Dantom Systems Inc., a Wixom, Mich.-based provider of outsourced document management services and data solutions to the accounts receivable management market. No pricing terms were disclosed, except that Babson Capital Management supported the deal with $2 million in equity and $16 million in mezzanine debt. www.compasspartners.com

HgCapital is in talks to acquire IAS, the accounting and payroll unit of Iris Software Group, according to Reuters. The deal could be valued at over $670 million. HgCapital sold UK-based IAS to Hellman & Friedman four years ago.

Platte River Ventures has acquired the outstanding shares of Sierra Alloys Co., an Irwindale, Calif.-based provider of titanium and high-performance steel products primarily to the aerospace and defense industries. No pricing terms were disclosed for the deal, which included senior debt from Fifth Third Bank.www.sierralloys.com

TUESDAY, NOVEMBER 15

Providence Equity Partners has acquired Istituto Marangoni, a European fashion and design school, from Career Education Corp. (Nasdaq: CECO). No financial terms were disclosed. Istituto Marangoni is based in Milan, Italy, and also has locations in Paris and London. www.provequity.com

BlueMountain Capital Management has acquired a majority stake in Navitas Lease Corp., a Jacksonville, Fla.-based equipment leasing company for SMEs. No financial terms were disclosed.www.bluemountaincapital.com

Falfurrias Capital Partners has acquired Dorsey Wright & Associates, a Richmond, Va.-based provider of technical investment research and money management products. No financial terms were disclosed.www.dorseywright.com

Hughes Associates Inc., a portfolio company of Huron Capital Partners, has acquired Edan Engineering Corp., a Vancouver, Wash.-based provider of electrical engineering services to the nuclear power and military markets. www.edanengineering.com

Pacific Equity Partners is prepping an A$700 million buyout offer for Spotless Group, an Australian provider of cleaning and laundry services, according to The Australian Financial Review. Spotless says that it has not yet received a formal approach. Six months ago, it rejected an A$657 million buyout offer from The Blackstone Group. www.pep.com.au


MONDAY, NOVEMBER 14

Morgan Stanley Private Equity Asia is in talks to acquire around an 80% stake in Chinese packaging company HCP Holdings Inc., according to Reuters. The deal could value HCP at around $500 million, with UBS advising Morgan Stanley on the deal. www.ms.com

Protective Products Enterprises, a portfolio company of Sun Capital Partners, has acquired the Paraclete Armor and Equipment business of Mine Safety Appliances Co. (NYSE: MSA). No financial terms were disclosed. Paraclete makes body armor systems and accessories for militaries and other government agencies. www.suncappart.com

TPG Capital has agreed to acquire the North American operations of Cardone Industries, a Philadelphia–based automotive parts remanufacturer. No financial terms were disclosed for the deal, which is expected to close later this year. www.cardone.com

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