Hub International Atlantic Ltd, a subsidiary of Hub International Ltd, has purchased a book of auto dealer business from Canadian independent broker Alliance Assurance Inc. The financial terms of the transaction were not published. Hub, a Chicago-based insurance brokerage with significant operations in Canada, has been a portfolio company of U.S. private equity firm Hellman & Friedman since 2013. Hub International Atlantic is based in Saint John, New Brunswick.
TPG has acquired a majority stake in Los Angeles-based Creative Artists Agency, which represents top entertainment and sports professionals. No financial terms were disclosed. UBS and LionTree Advisors provided financial advice to CAA in the transaction.
U.S. public utility holding company Cleco Corp (NYSE: CNL) has agreed to be purchased by a group of North American infrastructure investors led by Macquarie Infrastructure and Real Assets and British Columbia Investment Management Corp (bcIMC), and that includes John Hancock Financial. The deal values Cleco at around US$4.7 billion, including US$1.3 billion of assumed debt. Based in Pineville, Louisiana, Cleco's primary operating business is Cleco Power LLC, a regulated electric utility. Upon the close of the acquisition, which is expected in to take place in the second half of 2015, the company's new owners will refinance its existing bank debt.
U.S. private equity firm Warburg Pincus LLC [WP.UL] has agreed to buy a significant minority stake in India's Kalyan Jewellers for about $200 million, sources told Reuters.
Blue Point Capital Partners has sold its stake in Callison Architecture to ARCADIS. No financial terms were disclosed. Based in Seattle, Callison is an architecture and interior design firm.
Shares in German sportswear firm Adidas AG jumped on Monday after the Wall Street Journal reported that an investor group that includes Jynwel Capital and funds affiliated with the Abu Dhabi government planned a $2.2 billion bid to buy Reebok.
An investor group led by Macquarie Infrastructure and Real Assets has agreed to buy public utility holding company Cleco Corp, for about $4.7 billion, including debt. Cleco Corp is the owner of the Pineville, Lousiana-based electric utility Cleco Power.
Carousel Capital has recapitalized Joe Hudson's Collision Center. The transaction was done in partnership with JHCC's management team. No financial terms were disclosed. Based in Montgomery, Alabama, JHCC is a provider of car collision repair solutions.
Francisco Partners' auction of financial software company eFront has attracted bids in the range of $400 million, according to a person familiar with the transaction.
Billionaire investor William Ackman has turned up the heat on Allergan Inc, accusing the U.S. Botox maker’s board of misleading investors to fend off a hostile takeover bid from Canada's Valeant Pharmaceuticals, Reuters reported. Ackman's hedge fund Pershing Square Capital Management is Allergan’s biggest shareholder. Ackman has been working with Valeant for months to push the Botox maker into selling itself to Valeant. Allergan has steadfastly refused, calling Valeant’s offer too low.