Centerbridge Partners has completed a recapitalization of Boart Longyear Limited, a Salt Lake City-based provider of of drilling services, drilling equipment and performance tooling. No financial terms were disclosed.
Golden Gate Capital has closed its previously announced buy of ANGUS Chemical Company for $1.215 billion. The seller was The Dow Chemical Company. ANGUS is a provider of specialty chemicals.
Mosaic Capital Partners LLC has made an undisclosed investment in the employee stock ownership plan buyout of ETAK Systems LLC. Brookwood Associates provided financial advice to ETAK on the transaction. Based in Charlotte, North Carolina, ETAK is an outsourced service provider to wireless carriers.
Advanced Drainage Systems Inc (NYSE: WMS), a portfolio company of U.S. private equity firm American Securities, has purchased Ideal Pipe of Canada for about $56.8 million. Based in Thorndale, Ontario, Ideal Pipe is a manufacturer of high-density polyethylene pipe and related accessories. Advanced Drainage, a maker of high-performance thermoplastic corrugated pipe, said the deal increases its size and scale in the Canadian market and enhances its manufacturing, marketing and distribution capabilities. American Securities acquired its ownership interest in the Hilliard, Ohio-based company from U.S. private equity firm Berkshire Partners in 2010.
Canadian real estate private equity firm KingSett Capital and InnVest Real Estate Investment Trust (TSX: INN.UN) have completed their previously announced purchase of a majority stake in Toronto’s Fairmont Royal York Hotel. The deal, which is priced at $186.5 million, gives the two investors a joint 80 percent interest in the property. KingSett, the managing partner of the joint venture, took the largest share. The selling party, Ivanhoé Cambridge, the real estate investment arm of the Caisse de dépôt et placement du Québec, will retain a 20 percent investment stake in the hotel.
Teachers’ Private Capital has completed its acquisition of PODS Inc, a Clearwater, Florida-based provider of moving and storage solutions. The value of the deal, which was not published when it was announced in December 2014, was identified at the close as being in excess of US$1 billion. The long-term equities group of Teachers’ Private Capital, the private equity investment arm of Ontario Teachers Pension Plan, bought PODS from an investor group led by Bahrain private equity firm Arcapita. PODS said the new partnership will help the company execute its strategic growth plan.
Canada Pension Plan Investment Board (CPPIB) has agreed to invest A$525 million ($518.2 million) to help build and operate a new tolled tunnel motorway near Sydney, Australia. CPPIB is making the investment as part of a consortium that also includes Transurban Group and Queensland Investment Corp (QIC). CPPIB will take a 25 percent ownership interest in the A$2.9 billion project, which will be funded by consortium partners and Australian governments. Construction of the tunnel is expected to be completed in 2019.
UK-based private equity firm Mid Europa Partners said on Monday it had signed a binding agreement to buy a majority stake in Serbia's Danube Foods Group, which includes the country's major dairy producers and a large mineral water bottling plant.
CRH has agreed to pay 6.5 billion euros (US$7.4 billion) for assets from rivals Lafarge and Holcim, in a deal that will transform the Irish company into the world's third-biggest building materials supplier, Reuters reported. CRH beat a consortium led by Blackstone, according to people familiar with the matter. Reuters previously reported that Canada Pension Plan Investment Board (CPPIB) was part of Blackstone's bidding group.
India private equity fund Kaizen has made a $4.1 million Series A investment in Impartus Innovations. Based in Bangalore, India, Impartus is a provider of videos for classrooms.