European private equity investor HitecVision has acquired North Sea Communications from Telia Norge for 170 million Swedish krona ($26.5 million). North Sea Communications operates a fiber optical cable system between Norway and the UK, providing the offshore oil and gas industry in the southern part of the North Sea with high speed and low latency communications, the company said in a written release.
Blackstone is buying German outdoor clothing company Jack Wolfskin for what has been estimated at more than 700 million euros ($994 million), Reuters reported. The buyout shop did not disclose terms of the deal. The company’s co-founder and chief executive, Manfred Hell, will step down as part of the deal, Reuters said.
Advanced Health Media, which is backed by Arlington Capital Partners, has named James Burgess as its new CEO. The change is effective immediately, the company said. Burgess replaces Jeff Brady who has served as AHM's Chief Executive Officer since March 2010.
Berkshire Partners has closed its eighth fund with $4.5 billion in commitments. In May, peHUB reported that Berkshire began fundraising in January for a $4 billion pool and was seeing massive interest. Boston-based Berkshire did not use a placement agent Berkshire Fund VIII but Weil, Gotshal & Manges served as fund counsel.
GrowOp Technologies Ltd. is working with New York’s Ardent Advisors to go public soon, bringing a company with operations centered on the marijuana-growing industry to the equities markets. Founder Derek Peterson says he expects that once the pot-light enterprise locks down another round of financing from a foreign backer (who he declined to identify) GrowOp […]
Lovell Minnick Partners has finally put all the ALPS sale rumors to rest. Late Tuesday, Lovell Minnick announced it was selling ALPS for $250 million to DST Systems, a data processing company. The PE firm owned a majority of ALPS while management had the rest, says Spencer Hoffman, a Lovell Minnick MD. DST--which is also the subject of its own sale rumors-- is buying all of ALPS, he says. ALPS will remain a separate company, according to a statement. The sale is expected to close before the end of the year, Hoffman says.
Providence Equity Partners has completed its $1.88 billion buy of SRA International. SRA provides technology and strategic consulting services government organizations and commercial clients. The deal was announced in April.
Colorado-based mobile video communications company Tango picked up a $42 million round led by Draper Fisher Jurvetson, and including Len Blavatnik and Alex Zubillaga. The company also revealed it would launch a free video calling service for PCs.
Private equity firm Veronis Suhler Stevenson will acquire financial software company Strata Decision Technology. Terms of the private investment, which was made by VSS Structured Capital Fund II, were not disclosed. SDT was advised by Berkery, Noyes, & Co., the New York-based investment banking firm.
(Reuters) – Groupon Inc’s rapid growth has attracted rivals and regulators, a twin threat to the largest online daily deal company as it gets ready for an initial public offering. At a daily deals conference in San Francisco this week, executives from AT&T Inc, MasterCard Inc and Facebook described their plans to expand in the […]