Golden Gate Capital has acquired EP Management Corp. and its sole operating subsidiary, EP Minerals. Financial terms weren't announced. Reno, Nev.-based EP Minerals produces producer of diatomaceous earth filter aids, functional additives and absorbents. News of the sale was disclosed by Harris Williams which advised EP Minerals.
Connecticut Innovations, the quasi-public state authority for tech innovation, joined LaunchCapital to provide Novatract Surgical LLC, the laparoscopic medical device maker. Advantage Capital Connecticut and another individual investor also participated in the funding.
Freeman, the Dallas-based marketing and conference coordinator, has acquired Wheelhouse Solutions, a parent company to several companies to which the Texas company is a client. Wheelhouse was a portfolio company of North Carolina private equity firm Pamlico Capital, formerly Wachovia Capital Partners. MHT Securities advised on the transaction.
Biosurgery device company LifeBond has lured $20 million in a Series C round with investors Giza Capital and Aurum Ventures, with Johnson & Johnson Development Corp. participating in the round as well. Other investors in the Israel-based company include Pitango Venture Capital, and the Sitelman Group.
The S&P downgrade of U.S. debt has caused the markets to dive and produced fears of a double dip. But for some PE execs, and bankers, the downgrade means one thing: opportunity. Many PE execs brushed off the effects of the downgrade. "The downgrade doesn't make a hill of beans of difference," says one buyout exec. "The downgrade is more psychological than anything," another added. "It will have no effect except to the extent that debt markets are already tightening," a third PE exec says. The downgrade will definitely affect sellers or those looking to exit in the near term, the first buyout exec says. "If you have something in the market right now, and you have buyers thinking the world will potentially end, it's very easy for that buyer to reassess and not close a deal," says the exec, who focuses on larger transactions. "This can throw a lot of process for a loop."
A shareholder group including Susquehanna Growth Equity has sold Plimus for $115 million. Great Hill Partners was the buyer. Other selling shareholders include Plums founders, key management members and employees. Milpitas,Calif.-based Plimus provides e-commerce services. Great Hill, of Boston, is a PE firm that manages more than $2.5 billion in capital.
ABRY Partners and Berkshire Partners have acquired the Telx Group. Financial terms weren't announced. GI Partners was the seller. New York-based Telx is an interconnection and colocation data center operator. Telx had filed for a $100 million IPO in March 2010. Evercore Partners provided financial advice to Telx.
(Reuters) – The Carlyle Group is seeking a buyer for auto parts supplier Diversified Machine Inc and the business may fetch more than $400 million for the private equity firm, people familiar with the matter said. Diversified Machine Inc, formed by Carlyle in 2005, is a precision machining company that makes chassis and powertrain components […]
Nova Capital Management has acquired five industrial businesses in Canada that formed the major part of Premetalco Inc., the Canadian subsidiary of Amalgamated Metal Corp., the firm announced Monday. Financial terms of the deal were not released. McGladrey Capital Markets acted as lead financial advisor to AMC. HSBC Securities, Stikeman Elliott, Simmons & Simmons and KPMG advised Nova Capital.
Los Angeles-based buyout firm Gores Group, will acquire the United States operations of Hypercom Corp. Terms of the deal were not released. Hypercom provides electronic payment and transaction devices and services to retail and banking industries customers.