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Atlantic Street Capital, a private equity firm focused on lower middle-market deals, has acquired Z Wireless, a retailer of Verizon Wireless voice and data communications services operating throughout the Great Plains. Terms of the deal were not released. Z Wireless is based in South Dakota.
U.S. bank Regions Financial Corp. is offering as much as $200 million to help finance the sale of its Morgan Keegan brokerage unit, Reuters reported over the weekend, citing a Bloomberg story. Regions Financial is in talks with competing groups of private equity firms about a sale. The bank bought Morgan Keegan for $789 million in 2001 and disclosed plans to sell the division in June, Reuters wrote.
Beating private equity firms such as MBK Partners, online shopping mall operator Interpark has been named the preferred bidder for Samsung Group's procurement arm iMarketKorea Inc., Reuters reported.
Mattel is paying $680 million in cash to buy HIT Entertainment from a consortium led by Apax Partners. HIT Entertainment owns preschool toy brands including Thomas & Friends and Barney. The purchase price equates to a multiple of about 9.5 times trailing earnings before interest, tax, depreciation and amortization, the company’s said in a release.
Bravia Capital and HNA Group have completed the acquisition of ACT Airlines, an air cargo operator based in Istanbul, Turkey. Terms of the deal were not released, and the airline has been renamed “MyCargo Airlines.” Bravia Capital is a Hong Kong based private equity firm. HNA Group is based in China.
Private equity firm ClearLight Partners is exiting its investment in Switchcraft Holdco Inc., selling the company to publicly traded HEICO Corp. Terms were not released. Chicago-based Switchcraft is a designer and manufacturer of electronic connectors and cable assemblies for the electronics industry.
Italian electricity grid operator Terna has finalized the sale of its second solar power project to private equity fund Terra Firma, Reuters reported Monday. The deal is valued at 264 million euro ($365 million).
AdMedia Partners announced Friday that it acted as financial advisor to retail marketing agency GA|PRC Group in its acquisition by RFE Investment Partners and equity partners Caymus Equity Partners and Starboard Capital Partners. Debt financing was provided by Fifth Third Bancorp and CapitalSouth Partners. Terms of the sale were not released.
The Audax Group has exited its investment in Bloomfield Hills, Mich.-based Great Expressions Dental Centers, selling the company to OMERS Private Equity. Terms of the deal were not released. Audax acquired a majority interest in the company in May 2008.
Buyout shops Advantage Partners, Bain Capital and Olympus Capital have been shortlisted as bidders for for Japanese software developer Yayoi, Reuters reported Friday. The company, which is owned by MBK Partners, could fetch more than $650 million. Kohlberg Kravis Roberts, which also placed a bid, is not among second-round bidders, Reuters wrote.
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