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BDT Capital Partners and Claiborne Deming, the former CEO of Murphy Oil, have invested $110 million in Tudor, Pickering, Holt & Co. Houston-based Tudor, Pickering is an energy investment and merchant banking company. BDT, of Chicago, is an employee-owned private partnership.
Private equity firms have been increasingly interested in healthcare transactions since sweeping legislation passed by the Obama Administration was enacted to incorporate more Americans into the U.S. healthcare system. However, this time, it was federal regulators that seem to have acted as a catalyst to undo a deal. After the Justice Department detailed antitrust concerns, Kronos, backed by Hellman & Friedman and JMI Equity, the company backed off its agreement to acquire API Healthcare from Francisco Partners.
Buyout giant the Blackstone Group is teaming up with Callaway Golf Co. for a possible bid for Fortune Brands' golf business, Reuters reported. The deal could reach as high as $1 billion, Reuters said. Final bids for the auction are due May 9.
Some PE firms may be having problems fundraising but don't tell that to Berkshire Partners. The Boston-based firm has been marketing for their eighth fund, which is clocking in at $4 billion, three sources say. What is so incredible is that Berkshire only began fundraising in late January and is expected to announce a first close in the next week, a source says. A final close for Berkshire Fund VIII LP is seen coming 60 days after.
Sanoma Corp. has sold its movie operations to Swedish private equity firm Ratos in a deal valued at 116 million euro ($172.4 million). This is the second recent deal announced by the media company. Sanoma also said it would sell its Finnish literature business to Swedish media group Bonnier, while buying educational publishers Tammi Learning and Bonnier Utbildning from the same company.
Getty Images will buy image-tracking and copyright protection start-up PicScout. Getty will pay a reported $20 million for PicScout, though specific terms of the deal were not released. Getty has been a major client for the Israel-based start-up. PicScout was formed in 2002.
BDT Capital Partners and former Murphy Oil Chief Claiborne Deming have invested $110 million in Houston-based energy investment and merchant banking firm Tudor, Pickering, Holt & Co. The investment consists of the purchase of debentures, a portion of which is convertible into a minority equity stake, the Houston-based company said in a written release. The company will use the infusion to help fuel growth.
Mid-market private equity firm Symphony Technology Group will pay $165 million to buy Shopzilla Inc. from Scripps Networks Interactive Inc. The deal includes $150 million in immediate cash, and $15 million in deferred payments. Shopzilla is a consumer lead generation platform focused in online retail. The company owns and operates a portfolio of online consumer shopping properties in comparison shopping, product discovery and social shopping.
Private equity shop Kohlberg Kravis Roberts & Co. is in talks to buy Singapore-listed abalone farmer Oceanus Group Ltd. in a deal that could reach $500 million, Reuters reported. According to Reuters, KKR has lined up as much as $400 million in financing from a group of banks.