Thomson Reuters, publisher of peHUB, has closed its buy of Manatron. Thoma Bravo was the seller. Manatron provides property tax automation and land registry software for governments and municipalities around the world.
Is it too soon for Dave & Buster's to go public? Not at all. A little over a year ago, Oak Hill Capital Partners completed its $570 million buy of Dave & Buster's, an interactive entertainment and restaurant chain, from Wellspring Capital Management. Oak Hill invested $240 million equity in the deal, sources have previously told peHUB. Dave & Buster's--which operates “high volume entertainment/dining complexes”--filed for an IPO that could raise as much as $150 million, according to a July 15 regulatory filing. The company didn't disclose how many shares they would sell, their price range or on what exchange they would list. That information will come in future filings. However, Dave & Buster's does plan to trade under the ticker "PLAY," according to the filing.
General Atlantic has made a "significant investments" in Align Networks. Financial terms were not announced. Jacksonville, Fla.-based Align Networks provides workers' compensation physical medicine programs.
H.I.G. European Capital Partners has acquired a majority stake in Hanlo Group. Financial terms of the deal were not announced. The acquisition is a joint investment with Solidus Partners, the investment vehicle of Philippe Graf von Stauffenberg. Based in Graz, Austria, and Freiwalde, Germany, Hanlo provides energy efficient prefabricated houses in the German speaking region. H.I.G. European Capital Partners is the European PE arm of H.I.G. Capital.
H.I.G. Europe said Monday that it has acquired Halterman Products. Financial terms weren't announced. Haltermann, of Germany, produces refinery products for use in graphic arts, plastics processing, automotive, pharma, fine chemicals, electronics, cosmetics and coatings. H.I.G. Europe is the European PE arm of H.I.G. Capital.
The California State Teachers’ Retirement System posted a 23.1% return for the 2010-11 fiscal year. CalSTRS brought in $29 billion for the fiscal year ended June 30. Market value of CalSTRS investment portfolio was $154.3 billion, according to a statement.
The profitable, if not completely recovered San Diego Union-Tribune should find a buyer, several sources are telling me. Before you fall over in shock (I nearly did) consider these facts. Just seven years ago, the U-T generated $100 million of EBITDA. The financial crisis of 2008 drastically cut profitability at the newspaper and cash flow in 2009 plummeted to zero, sources say. It was at this time that Platinum Equity acquired the U-T for roughly $35 million. Long-time owner Copley Press was the seller.
Sterling Investment Partners has agreed to buy Excelligence Learning Corp. from Thoma Bravo. Financial terms were not announced. Monterey, Calif.-based Excelligence develops, distributes and makes educational products and supplies for child care programs, preschools, elementary schools, and consumers. CORRECTION: Thoma Bravo acquired Excelligence in 2006 and will realize an IRR of 2.5x, ROI of 2.5x and an IRR of 22%, a spokesman says. William Blair & Co. advised Excelligence.
The CapMan Russia Fund and Belgian-based firm Gimv have backed Russian photo services company Expert Photo with an undisclosed amount of growth capital. Expert Photo is a 16-year-old provider of online and offline photo printing services. The infusion of cash will help Expert Photo strengthen its position in Russia. Following the deal, the CapMan Russia fund and Gimv will each own 19% of the company. CapMan Plc and Gimv are both major investors in the CapMan Russia Fund.
Starwood Capital is paying 250 million reais ($159 million) for a 33.3% stake in MRV Log, the logistics arm of Brazilian builder MRV Engenharia, Reuters reported Monday. After the deal closes, MRV Engenharia will own 42% of the company. The money will help MRV Log expand its portfolio of assets.