TA Associates, Polaris Partners and Sutter Hill Ventures have agreed to sell their stakes in Research Now Group to Court Square Capital Partners. No financial terms were disclosed. Based in Plano, Texas, Research Now is a digital data collection provider.
Bain Capital has agreed to acquire TI Automotive. No financial terms were disclosed for the transaction that is expected to close in the middle of this year. Blackstone Advisory Partners is providing financial advice to TI Automotive while Goldman Sachs and UBS Securities LLC are serving as financial advisors to Bain Capital. Based in Auburn Hills, Michigan, TI Autmotive is a provider of fluid storage, carrying and delivery systems to automotive manufacturers.
Veronis Suhler Stevenson has sold DOAR, a trial strategy consulting firm, back to shareholders, including company management. The firm first invested in DOAR in 2005. Paul Neale, DOAR's chief executive officer, is the lead investor in the buyback. Other managers involved in the buyout include Scott Allen, Michael Ferrara and Gene Klimov.
Struggling Canadian wireless operator Mobilicity will not bid for more airwaves in one upcoming government auction and is trying to secure funding to participate in another, its court-appointed monitor said in a filing on the company's website, Reuters reported. The report also said that Mobilicity has discussed selling itself with several parties and that talks are continuing. Mobilicity is a portfolio investment of U.S. private equity firm Quadrangle Group.
Babson Capital Management has made an undisclosed investment in Money Mailer LLC. Based in Garden Grove, California, Money Mailer is a provider of hyperlocal direct marketing services. It is an affiliate of Madison Industries.
Tervita Corp has welcomed the decision of the Supreme Court of Canada to allow its 2011 acquisition of Complete Environmental Inc and subsidiary Babkirk Land Services Inc. The company said the decision will allow it to proceed with developing a secure landfill in Northeastern British Columbia and add a disposal site to its network of strategically located disposal facilities. Based in Calgary, Tervita is an environmental solutions provider. Since 2007, it has been backed by a number of Canadian and U.S. private equity investors, including CAI Private Equity, Kelso & Co and Vestar Capital Partners.
Canadian merchant bank Cairn Merchant Partners has taken an equity interest in All in West! Capital Corp (TSX Venture: ALW), an acquirer and developer of hotels and independent living senior's residences in Western Canada. The deal, the value of which was not disclosed, involved securities previously owned by Tribal Council Investment Group of Manitoba Ltd. The acquisition was made on behalf of Cairn by affiliate Roper Capital Corp and upon closing will give Cairn approximately 11.6 percent of the outstanding common shares of the Winnipeg-based company.
Abacus Finance Group LLC has provided $20 million in senior credit facilities to back Thompson Street Capital Partners' acquisition of TriStar Global Energy Solutions Inc. Based in Houston, TriStar provides hydrocarbon cleaning and decontamination services in the U.S. and abroad mostly to refineries and petrochemical plants.
Shares in Italy's World Duty Free rose more than 2 percent on Monday after a press report saying that U.S. private equity fund KKR could be interested in buying a stake in the travel retailer, Reuters reported.
Cuba may be the next frontier for private equity, but dealmaking will likely have to wait.
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