Private equity deals

Madison Dearborn Partners has agreed to acquire National Financial Partners Corp. (NYSE: NFP), a New York–based provider of benefits, insurance and wealth management services, for approximately $1.3 billion. The $25.35 per share deal represents around a 26% premium over NFP’s closing price on March 12 – the last day before press reports of a possible sale.

CVC Capital Partners said that it is in preliminary talks to acquire British online gambling company Betfair, which closed trading Friday at a market cap of approximately £725 million.

Elevation Resources LLC, a Midland, Texas-based oil and gas exploration company focused on the Permain Basin, has secured up to $400 million in private equity commitments led by Pine Brook Partners.

L Capital Asia, a private equity arm of LVMH Group, has acquired a 49.9% stake in Australian apparel retailer R.M. Williams for approximately A$52 million.

Sun Capital Partners has acquired 171 stores from British bedding and mattress retailer Dreams PLC, via an administration process. No financial terms were disclosed.

Warburg Pincus has acquired a minority equity stake in Avtec Ltd., an Indian supplier of auto parts to OEMs, from Actis. No financial terms were disclosed.

Ridgebury Tankers LLC, a new sea tanker acquisition and operation platform, has secured a $200 million private equity commitment from Riverstone Holdings.

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