Avison Young Inc, a portfolio company of Canadian private equity firm Tricor Pacific Capital, has bought Orlando, Florida's MCRE LLC, which does business as Morrison Commercial Real Estate. The deal's value was not published. The acquisition of MCRE follows Avison's announcement earlier this week that it had agreed to purchase Colliers International South Florida. The Toronto-headquartered Avison, which now operates 61 commercial real estate offices in 50 markets, has been backed by Tricor since 2011. Tricor made a follow-on investment in the company in September.
Buyout group IK Investment Partners has launched the sale of its German asset Sport Group, hoping to fetch a price of more than 300 million euros ($374 million), sources told Reuters.
Apollo Global Management (APO.N) is planning to bid for all GlaxoSmithKline's (GSK.L) mature drugs, joining an auction expected to value the business at more than $3 billion, sources tell Reuters.
Dutch electronics group Philips has attracted bids from several private equity groups for the majority of its lighting components business, up for sale as it focuses on higher-margin activities, several sources told Reuters. Buyout groups including Bain, CVC, CD&R, KKR and Canada's Onex Corp handed in offers earlier this week valuing the business at between 2.5 billion euros (US$3.1 billion) and 3 billion, the sources said.
Deutsche Bank has agreed to sell a $2 billion portfolio of U.S. commercial real estate loans to U.S. private equity firm TPG Capital Management LP, a source told Reuters.
Private equity firm Carlyle Group LP is one of the firms interested in buying a set of businesses being put up for sale by Serco Group Plc, a British outsourcing firm, Sky News reported.
Peregrine Midstream Partners subsidiary Ryckman Creek Resources has received $110 million in financing from EQT Infrastructure and a consortium of banks led by ING Capital. The funding will be used to complete HDMC Ryckman Creek Gas Storage Facility in southwestern Wyoming near the Opal Hub. EQT Infrastructure is an owner of Peregrine.
Buyout group Lindsay Goldberg has put German packaging company Weener Plastik up for sale and could attract a price of around 400 million euros ($500 million).
Riverside has made an undisclosed investment in civic service provider SAFEbuilt. MidCap Financial provided financing for the transaction while Jones Day served as advisor to Riverside.
Golden Gate Capital has agreed to acquire ANGUS Chemical Company from The Dow Chemical Company for about $1.2 billion. ANGUS makes chemicals used to enhance products in industries like paints and coatings, life sciences, biopharmaceuticals, metalworking, personal care, water treatement and oil and gas. JPMorgan Securities is financial advisor for Golden Gate, and JPMorgan Securities, Morgan Stanley and Deutsche Bank are providing financing for the deal.