Iris Dorbian
Encision said Monday that it has named Dr. Patrick Pace as chairman of the board. Dr. Pace, who is currently advisor to EDG Partners, a private equity firm that focuses on health care, has been a director of Encision's board since April 2012. Based in Boulder, Colorado, Encision is a provider of surgical devices.
Campbell Soup Company said Monday that it has entered final negotiations to sell most of its European assets to CVC Capital Partners, a global private equity firm. No financial terms were disclosed. The transaction is expected to close in the first quarter of 2014. Allen & Overy is advising Campbell's while CVC is being advised by Leopold Capital Partners, Barclays, Cleary Gottlieb Steen & Hamilton and Ernst & Young. Headquartered in Camden, NJ, Campbell Soup Company is a food manufacturer.
Ambient Sound Investments has sold its stake in Armorize Technologies to Proofpoint for approximately $25 million. Based in Taiwan, Armorize Technologies is a provider of cloud-based anti-malware products.
BlackRock Advisors said Friday that it will change the new of three of its funds. BlackRock S&P Quality Rankings Global Equity Managed Trust will be renamed BlackRock Dividend Income Trust while Massachusetts Health & Education Tax-Exempt Trust will be known as BlackRock Massachusetts Tax-Exempt Trust. Also, Massachusetts Health & Education Tax-Exempt Trust Series W-7 Variable Rate Demand Preferred Shares will be renamed BlackRock Massachusetts Tax-Exempt Trust Series W-7 Variable Rate Demand Preferred Shares. The name changes will become effective August 13, 2013.
Nova Capital has inked an agreement to acquire five home improvement and hardware brands from Newell Rubbermaid for $214 million. The businesses that are being sold are Amerock, Ashland, Bulldog, Drapery Hardware and Shur-Line. The transaction is expected to close within the third quarter of this year. Also, Nick Morrisroe, vice president and general manager of hardware for Newell Rubbermaid will continue in his role while David Jacobs, investment partner at Nova, will join the boards of the combined businesses. Headquartered in Atlanta, Newell Rubbermaid is a provider of consumer and commercial products.
Cheil Industries, a Korea-based provider of electronic materials for the display industry, has acquired a 50% stake in Novaled for €260 million. Among the investors selling their interest in Novaled are eCAPITAL entrepreneurial Partners AG, Zweite TechnoStart Ventures Fonds GmbH & Co. KG, Omnes Capital, TechFund Europe Management, Innovation Capital, KfW, Dresden Fonds GmbH and TUDAG TU Dresden AG. Goldman Sachs, Sullivan & Cromwell and Fox Corporate Finance advised Novaled on the transaction while Citi and Skadden, Arps, Slate, Meagher & Flom advised Cheil Industries. Based in Germany, Novaled is a lighting company.
BHV said Thursday that it has changed its name to Scout Ventures. The change is effective immediately. According to the company, the rebranding "better reflects the firm's values, mission and future." Based in New York City, Scout Ventures is a venture capital firm that invests in early-stage companies.
Cargo Airport Services USA, a portfolio company of ICV Partners, said Thursday that it has acquired Integrated Airline Services. No financial terms were disclosed. M&T Bank, Capital One and Fifth Third Bank provided financing for the acquisition. Integris Partners served as advisor to IAS for the transaction. Headquartered in Dallas, Texas, IAS is a provider of cargo handling services to major airlines.
Champion Manufacturing was acquired by LA-based private equity firm Levine Leichtman Capital Partners and Champion's management. No financial terms were disclosed. SunTrust Robinson Humphrey served as advisor to Champion for the transaction while Madison Capital provided senior debt financing. Based in Elkhart, Indiana, Champion is a maker of seating products for the healthcare market.
Detroit-based private equity firm Superior Capital Partners said Thursday that it has recapitalized Aldora Glass Holdings and Coastal Glass Distributors. No financial terms were disclosed. Based in Fort Lauderdale, Fla., Aldora is a producer of architectural aluminum and glass, while Coastal Glass Distributors, which is located in Charleston, S.C., is a glass fabricator.