Brookfield Asset Management has agreed to support the sale and investment process of Armtec Infrastructure Inc, a manufacturer of infrastructure products and engineered construction solutions based in Guelph, Ontario. Under the deal's terms, a credit facility with Brookfield will be extended and a new facility of up to $30 million will be committed. A Brookfield affiliate will also provide Armtec with up to $150 million of bonding on a cost to complete basis. Brookfield also agreed to buy all of Armtec's assets in exchange for debt owing in the event the company is not sold or recapitalized. In 2011, Brookfield committed a $125 million senior secured loan to Armtec.
TorQuest Partners has made an undisclosed investment in Envirosystems Inc. Based in Dartmouth, Nova Scotia, Envirosystems, which was backed by Thornridge Holdings Limited, is a industrial services company.
U.S. private equity fund TPG Capital Management will buy a "significant minority stake" in Indian private hospital operator Manipal Health Enterprises Ltd for 9 billion rupees ($145.86 million), the companies said in a joint statement on Thursday.
European investment fund Star Capital is launching preparations to sell German cable group Pepcom and a separate deal to dispose of a stake in Eleclink, a company running a power cable connecting Britain and France, sources told Reuters.
McNally Capital and Coughlin Capital have acquired ITS Logistics. No financial terms were disclosed for the transaction that was done in partnership with ITS management. G2 Capital Advisors served as the sell-side advisor to ITS in the deal. Based in Sparks, Nevada, ITS is a provider of third-party logistics and supply chain management solutions.
Private equity group Terra Firma is planning to launch the sale of its European cinema chain Odeon & UCI Group toward the end of the year in a potential 1 billion pound ($1.55 billion) deal, its chairman told Reuters.
LandFund Partners said Wednesday it has launched its second private investment fund with more than $5 million in commitments. Nashville, Tennessee-based LandFund develops and manages closed-end private equity funds that acquire row crop farmland in Arkansas and Mississippi. Fund II has agreed to buy farmland of about 2,500 acres near Helena, Arkansas. Fund I accepted $7 million in capital commitments.
Monroe Capital said Thursday it acted as sole lead arranger and administrative agent on a $27 million loan that provided growth capital to The Sandbox Group LLC. Chicago-based Sandbox is a marketing communications agency specializing in the healthcare, agriculture, and financial services industries.
Norwest Equity Partners said Thursday it invested in Old Hickory Smokehouse LLC. Financial terms weren’t announced. Lewisberg, Tennessee-based Old Hickory makes, markets and distributes food like rib tips and pulled pork, as well as beverages that are sold in retail grocery and foodservice channels. Norwest Equity’s investment was made in partnership with Wayne Wolf, Old Hickory’s CEO.
South Korean private equity firms MBK Partners and IMM have expressed interest in buying a controlling stake in Asiana Airlines Inc's parent firm, sources told Reuters.