Iris Dorbian
Oaktree Capital Management has agreed to acquire the Highstar Capital team. No financial terms were disclosed for the transaction, which is expected to be completed in the third quarter of 2014. Headquartered in New York City, Highstar is an infrastructure investment firm.
Private equity firm Lovell Minnick Partners has promoted Jason S. Barg and Trevor C. Rich to principal. Barg first joined the firm in 2010 from Goldman Sachs while Rich joined the firm the same year from Morgan Stanley.
Marijuana Incubator Group has agreed to acquire VaporTownUsa.com. No financial terms were disclosed. VaporTownUsa is a provider of vaporizers.
American Energy – Permian Basin said Monday that it has agreed to acquire about 63,000 acres in the southern Permian Basin, primarily in two Texas counties from Denver-based Enduring Resources for $2.5 billion. AEPB is backed by The Energy & Minerals Group and First Reserve Corp. Goldman Sachs provided the financing for the acquisition. Also, Goldman Sachs, Tudor, Pickering, Holt & Co. and Citi served as financial advisors to AEPB while Jefferies was financial advisor to Enduring.
Vitamin Shoppe said Monday that it has acquired FDC Vitamins (which is doing business as Nutri-Force) for about $85 million. MBF Healthcare Partners was one of the sellers. Stifel provided financial advice to the Vitamin Shoppe while Houlihan Lokey was financial advisor to Nutri-Force. Based in Miami Lakes, Florida, FDC Vitamins is a maker of vitamins, minerals and supplements.
American Energy-Utica said Monday that it has agreed to acquire approximately 27,000 net acres in Monroe County, Ohio from East Resources and an unidentified private firm. Also, American Energy-Marcellus has inked agreements to buy about 48,000 net acreages in five West Virginia counties from the same sellers. The combined price of these acquisitions is $1.75 billion. Both transactions are expected to be completed in the next 60 days. Citi and Goldman Sachs served as financial advisors to AEU and AEM, while Jefferies was financial advisor to the sellers. American Energy-Utica and American Energy-Marcellus are both backed by The Energy & Minerals Group.
Alpha, which is backed by Baird Capital, has added Paul Quirk, Michael Talbot and Joe Morant to its U.S. senior leadership team. All three will be based in the firm's New York Office. Previously, Quirk worked at LiquidHub while Talbot and Morant worked at Navigant Consulting. Alpha is a provider of consulting services to asset and wealth managers and the companies that service them.
TrailStone, which is backed by Riverstone, said Monday that it has acquired U.S. Oil and Refining Co. No financial terms were disclosed. Deutsche Bank Securities advised USOR on the transaction. USOR operates a refinery in Washington state and provides petroleum products to the Puget Sound area.
The Chertoff Group has hired Dr. Alastair MacWillson as a principal. MacWillson, who will be based in the firm's London office, is a former global managing director for technology consulting at Accenture. The Chertoff Group is a provider of consulting, risk management and M&A advisory services.
Transition Therapeutics, a biopharmaceutical firm in Toronto, said Friday that it has raising up to $30.8 million in a private placement. The investors include Oracle Investment Management, Jack W. Schuler, Larry N. Feinberg and other previous backers. According to details of the transaction, Transition Therapeutics will sell over 3.1 million units of its company at $5.32 per unit. The private placement is expected to close on or about June 20, 2014.