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Private Equity Deals

By
Dan Primack
Dan Primack
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By
Dan Primack
Dan Primack
Down Arrow Button Icon
June 13, 2011, 2:13 PM ET

Avista Capital Partners has acquired Anthony International, a maker of glass doors and related products for the commercial refrigeration market, from Aurora Capital Group. No financial terms were disclosed.www.avistacap.com

Genstar Capital has acquired MW Industries Inc., a Logansport, Ind.-based provider of springs, fasteners and other precision components to various industries. No financial terms were disclosed. Sellers wereBrockway Moran & Partners and CITIC Capital Partners. www.mw-ind.com

Providence Equity Partners is the frontrunner to buy online educational courseware company Blackboard Inc. (Nasdaq: BBBB), according to Bloomberg. Hellman & Friedman has also bid in the process, which is being managed by Barclays Capital. Blackboard has a market cap of around $1.47 billion.www.blackboard.com

SegTel, a provider of fiber optic telecom services in Northern New England, has secured an undisclosed amount of private equity funding from Riverside Partners. The investment is being made via Tech Valley Communications, a Riverside portfolio company. www.riversidepartners.com

 

WEDNESDAY, JUNE 15

Avista Capital Partners has acquired DataBank, a Dallas-based data center operator, from Freeman Group. No financial terms were disclosed. www.databank.com

The Carlyle Group is in talks to acquire a majority stake in SagemCom, a French maker of products for the broadband, set top box and printing industries, from Gores Group, according to Les Echos.www.sagemcom.com

The Gores Group has agreed to acquire Scovill Fasteners, a Clarkesville, Ga.–based maker of engineered closure products, via a bankruptcy proceeding. www.gores.com

Intermedia, a cloud services company owned by Oak Hill Capital Partners, has acquired Zlago, a Washington, D.C.-based provider of cloud services. Zlago founder and CEO Michael Gold has taken over as Intermedia’s president. www.intermedia.net

Smart Modular Technologies (Nasdaq: SMOD), a Newark, Calif.-based chipmaker, said that its “go-shop” period has expired without any alternative acquisition offers to the $645 million bid from Silver Lake Partners and mid-market affiliate Silver Lake Sumeru. Smart Modular did enter into negotiations with two rival suitors, but neither made a formal offer. www.smartm.com

TUESDAY, JUNE 14

Cascades Inc. (TSX: CAS) has agreed to sell two subsidiaries to OpenGate Capital. No financial terms were disclosed. One unit is Cascades Boxboard Group – Connecticut LLC, a paper mill in Versailles, Conn., while the other is Cascades Boxboard US Inc., a converting facility located in Hebron, Kentucky.www.opengatecapital.com

Artissimo Designs Inc., a wall décor platform sponsored by Huron Capital Partners, has acquired Lot 26 Studio Inc., a San Francisco–based adhesive wall decor company. No financial terms were disclosed.www.lot26.com

Express-1 Expedited Solutions Inc. (NYSE Amex: XPO), a St. Joseph, Mich.–based provider of logistics transportation services, has agreed to raise up to $150 million in cash via a private placement. Jacobs Private Equity, the investment vehicle of United Rentals and United Waste Systems founder Bradley Jacobs, would provide up to $135 million, with Jacobs becoming company chairman.www.xpocorporate.com

Lextron, a portfolio company of Leonard Green & Partners, has completed its $111 million cash acquisition of Animal Health International (Nasdaq: AHII), a distributor of animal health products. AHI shareholders include Charlesbank Capital Partners. www.lextronanimalhealth.com

Taiwanese regulators have expressed concern over the rights of minority shareholders in Taiwan electronics components maker Yageo, which has agreed to be acquired for $1.6 billion by KKR, according to Reuters. www.kkr.com

Tengram Capital Partners is investing an undisclosed amount into Robert Graham Holdings LLC, a New York-based eclectic fashion house. In related news, former True Religion Apparel president Michael Buckley has been named CEO of Robert Graham Holdings. www.robertgraham.us

Vaupell Holdings Inc., a Seattle-based portfolio company of H.I.G. Capital, has acquired Russell Plastics Technology Company Inc., a Lindenhurst, N.Y.–based maker of composite plastics products and assemblies for the aerospace and military markets. No financial terms were disclosed. www.vaupell.com

MONDAY, JUNE 13

Avista Capital Partners has agreed to invest up to $125 million into Sidewinder Drilling Inc., a Houston, Texas-based land drilling company. www.sidewinder-drilling.com

The Carlyle Group is in talks to acquire a 25% stake in Indonesia’s GarudaFood from Tudong Group for around $200 million, according to Reuters. It beat out rival bidder Suntory, a Japanese brewer.

Citi Venture Capital International has agreed to acquire Ness Technologies Inc. (Nasdaq: NSTC), a Teaneck, N.J.–based provider of IT and business services and solutions. The deal is valued at approximately $307 million, or $7.75 per share (17.6% premium to last Friday’s closing price). Jefferies & Co. managed the process. www.ness.com

CVC Capital Partners is in exclusive talks to acquire an ownership stake in Virgin Active Ltd., a British fitness club chain, according to the Sunday Times. The deal could value Virgin Active at around £1 billion.

The Jordan Co. has agreed to acquire Pro Mach Inc., a Cincinnati-based maker of packaging machinery solutions for the food, beverage, household goods and pharmaceutical industries. No financial terms were disclosed. The seller is Odyssey Investment Partners. www.promachinc.com

Multi Packaging Solutions Inc., a New York-based print and packaging company owned by Irving Place Capital, has acquired CD Cartondruck AG, a German maker of packaging for the cosmetics, confectionery, consumer and healthcare markets. No financial terms were disclosed. www.multipkg.com

RAE Systems Inc. (AMEX: RAE) shareholders have approved a $2.25 per share (total equity value of nearly $134 million) buyout offer from Vector Capital. www.raesystems.com

Roark Capital has agreed to acquire a majority stake in fast-food restaurant chain Arby’s fromWendy’s/Arby’s Group (NYSE: WEN). The deal includes a $130 million in cash and the assumption of $190 million in debt. Wendy’s will retain an 18.5% equity stake in Arby’s. Wendy’s and Arby’s merged in 2008 as part of a $2.3 billion deal.

Permira has acquired a 61% stake in Netafim Ltd., an Israeli drip irrigation company, according to Globes Online. The deal valued Netafim at around $900 million. www.permira.com

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