Singapore water treatment company United Envirotech Ltd (UEL), nearly 30 percent owned by private equity firm KKR & Co LP, said KKR and Chinese state-backed conglomerate CITIC Ltd will launch a takeover offer valuing UEL at about S$1.9 billion ($1.5 billion) on a fully-diluted basis.
VersionOne, an agile ALM solutions provider, has closed $20 million in funding from LLR Partners. Shea & Company was financial advisor to VersionOne on the transaction. VersionOne is backed by OpenView Venture Partners.
TriCore Solutions has received an undisclosed investment from BV Investment Partners. As a result of the transaction, TriCore's existing owners and management will retain a "meaningful" ownership stake in the business. Ropes & Gray served as legal counsel to BV on the deal while Choate, Hall & Stewart represented TriCore. Based in Norwell, Mass., TriCore is a provider of application and infrastructure managed services.
Intervale Capital has acquired a majority stake in American Disposal Services, which provides services to dispose of injectable drilling and production waste in the Eagle Ford and Haynesville shale areas. Along with the deal, Gabriel Rio was appointed president and chief executive officer. Terms of the deal were not disclosed.
Peak Rock Capital has invested in Highline Produce Limited, an Ontario-based producer and distributor of mushrooms. Financial details of the transaction were not disclosed.
Civica Group Ltd, a portfolio company of OMERS Private Equity, has through a subsidiary purchased Asidua Holdings Ltd, a software consultancy and services business based in Belfast, Northern Ireland. The acquisition's value was not disclosed. Civica, a London, U.K.-based provider of specialist information technology systems and business process services, said the deal will help broaden its support to customers. OMERS last year bought Civica from British private equity firm 3i Group in a transaction valued at 390 million pounds (US$604 million).
Champion Manufacturing, a portfolio company of Levine Leichtman Capital Partners, has completed a dividend recap. Madison Capital Funding provided a $24 million senior credit facility for the transaction. Based in Elkhart, Indiana, Champion is a maker of seating products for the healthcare industry.
Pegasus Electronic Distribution Services has completed a recap led by H.I.G. No financial terms were disclosed. Based in Dallas, PEDs is a processor of electronic hotel transactions.
The U.S. subsidiary of NCSG Crane & Heavy Haul Corp has bought substantially all of the assets of H&H Crane Service Inc, a supplier of fully operated and maintained crane services located in Great Falls, Montana. The value of the acquisition was not disclosed. As part of the deal, Tom Harant, founder of H&H's parent company, has taken an ownership interest in NCSG. Based in Edmonton, NCSG is a crane and heavy haul business backed by Canadian private equity firm TriWest Capital Partners and U.S. investor NCA Partners. TriWest led a majority investment in the company in June 2014.
ABRY has acquired a majority stake in KORE, a provider of managed M2M communication services. Also, KORE has acquired Raco, a provider of wireless data solutions to M2M sector. No financial were disclosed for either transaction.