Vista Equity Partners isn’t skimping on its buy of Tibco Software.
Tourmaline Oil Corp (TSX: TOU) has agreed to sell a percentage of its Peace River High oil play to Canadian Non-Operated Resources LP (CNOR), which is backed by U.S. private equity firm Riverstone Holdings and other investors. The deal, announced by Tourmaline in its Q3 2014 financial statement, will see CNOR become a joint venture partner through its acquisition of a 25 percent interest in the Western Canada-based project for $500 million. The deal is expected to close in December. A Calgary oil and gas company, the newly founded CNOR secured an $675 million equity investment in August. The company subsequently invested in Bellatrix Exploration Ltd.
Extendicare has agreed to sell its U.S. business to an investor group led by Formation Capital and Safanad for $870 million.
GE Antares, a unit of GE Capital, has provided a $160 million senior credit facility to back Kohlberg & Company's buy of PPC Industries. GE Capital Markets was the lead arranger and bookrunner. Based in Pleasant Prairie, Wisconsin, PPC Industries is a maker of specialty plastic solutions for medical/pharmaceutical, food processing, and niche industrial applications.
H.I.G. Growth Partners-backed CDI Computer Dealers Inc. has completed the acquisition of LifeSpan Recycling Co., which provides data security and electronic asset recovery, secure data destruction and recycling. LifeSpan is CDI's first acquisition since H.I.G. invested in the company in January 2014.
Advent International and Avista Capital Partners have agreed to buy Kremers Urban Pharmaceuticals for $1.525 billion. The transaction is expected to be completed by the first quarter of 2015. Credit Suisse Securities, Morgan Stanley, Goldman Sachs and Jefferies are providing the financing for the transaction as well as serving as financial advisors to Advent and Avista. Also, Avista's Brian Markison has been named president and CEO of KU. He is succeeding George Stevenson, who is leaving KU to pursue other interests. KU is UCB's generic subsidiary in the U.S.
Energy Capital Partners Mezzanine Opportunities Fund and GE Energy Financial Services have provided $210 million in preferred equity in Southcross Holdings, which owns Southcross Energy Partners GP. The investment will support Southcross Holdings' expanding operating presence in the Eagle Ford region.
Crestview Partners has formed a strategic relationship with family office B-29 Investments to form Endurance Lift Solutions, a platform for investments in the artificial lift industry. As part of the agreement, Crestview and funds affiliated with B-29 will invest up to $200 million in the equity of Endurance Lift. Crestview will use capital from its third fund, which has been in the market targeting $3 billion. Endurance will deploy capital to artificial lift companies to help them expand into the next stage of growth.
Thoma Bravo-backed Global Healthcare Exchange has agreed to buy Atlanta-based Vendormate, which provides vendor relationship management software. The deal is expected to close in the next 30 days.
BluePay, a portfolio company of U.S. private equity firm TA Associates, has bought Caledon, a Canadian payment processing and technology business. The financial details of the transaction were not published. BluePay, a provider of technology-enabled credit card payment processing, said the acquisition will give it the opportunity to increase its payment acceptance capabilities for North American merchants, and enhance its technology. The Naperville, Illinois-based company was acquired by TA Associates in August 2013.