Iris Dorbian
Seven Energy, a Nigeria-focused oil and gas company, said Tuesday that it has raised $255 million in equity funding. The investors are Temasek, International Finance Corp. and the IFC ALAC Fund.
Packaging Dynamics, a portfolio company of Kohlberg & Company, has acquired Pac Paper. No financial terms were disclosed. Based in Vancouver, Wash., Pac Paper is provider of paper packaging products for foodservice, food processing, agricultural and industrial applications.
PCX, RFE Investment Partners and 24/6 Capital Partners said Tuesday that they have acquired SPX Precision Components. No financial terms were dislosed. Also, PCX has named Alan Haase as its CEO. First National Bank of Pennsylvania provided the senior debt financing for the transaction. C.W. Downer & Co. advised RFE and 24/6 on the deal while Loop Capital Markets advised SPX.
DSW has agreed to buy a 44 percent stake in Town Shoes from AIMCo for approximately $62 million. The transaction is expected to be completed in May 2014. Peter J. Solomon Company is advising DSW on the deal. Based in Toronto, Town Shoes, which is also backed by Callisto Capital, is a footwear retailer.
Global private equity firm Pomona Capital has raised $1.75 billion in the final close of its eighth secondaries fund. The target was $1.3 billion.
New York and San Francisco-based private equity firm Behrman Capital said Tuesday that it has recapitalized Pelican Products for $570 million. Credit Suisse and Morgan Stanley were co-bookrunners on the transaction. Pelican Products is a producer of high-performance case solutions and advanced portable lighting systems.
Aaron's said Tuesday that it has acquired Progressive for about $700 million in cash. The seller was Summit Partners. Headquartered in Atlanta, Aaron's is a lease-to-own specialty retailer of residential furniture, consumer electronics, home appliances and accessories.
CIT said Tuesday that it provided a $95.2 million credit facility to Heron Ventures, a joint venture between Oceanbulk Shipping and ABY Group Holding. The loan will be used to buy a fleet of 12 drybulk vessels and asserts formerly owned by Italy-based Deiulemar Shipping.
Keating Investments, the investment advisor to pre-IPO investor Keating Capital, has agreed to sell its equity interests to BDCA Adviser. No financial terms were disclosed. BDCA Adviser is owned by AR Capital.
Q-Centrix, a portfolio company of Sterling Partners, said Tuesday that it has hired Milton G. Silva-Craig as its new CEO. The appointment is effective immediately. Silva-Craig replaces Rob Schwager, who is transitioning from CEO to chairman. Previously, Silva-Craig worked at TransUnion’s healthcare business unit where he served as president. Based in Portsmouth, N.H., Q-Centrix is an outsourced provider of healthcare solutions.