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.
Stingray Digital Group has purchased Telefónica On The Spot Services' Pay TV music portfolio of clients in South America and Portugal. The financial details of the transaction were not disclosed. Stingray said the acquisition is an important milestone in its Latin America growth strategy. Earlier this year, the company also bought a Latin American digital music services business from Mood Media Corp. Based in Montréal, Stingray is a multi-platform music services provider. It is majority-owned by Canadian private equity firm Novacap, Telesystem and Boyko Investment Corp. Telefónica On The Spot Services is a subsidiary of Spain's Telefónica Group.
German healthcare group Fresenius (FREG.DE) as well as buyout groups PAI and Permira are exploring an acquisition of the medical nutrition business of Danone (DANO.PA) after efforts of U.S. drugmaker Hospira (HSP.N) to buy the unit failed, sources told Reuters.
Edgewater Growth Capital Partners has made an undisclosed investment in Vertical Bridge. No financial terms were disclosed. Vertical Bridge is an owner and manager of wireless communications infrastructure.
Momondo Group has received 80 million pounds in funding from Great Hill Partners. Arma Partners advised Momondo on the transaction. Based in London, Copenhagen and Boston, Momondo is a online travel search firm.
Altamont Capital Partners and Kingfish Group have acquired a majority stake in Legacy ER & Urgent Care. No financial terms were disclosed. Ropes & Gray advised Altamont while Avondale Partners and Waller Lansden advised Legacy. Based in Frisco, Texas, Legacy is an operator of ER and urgent care clinics.
Seacoast has recapitalized Frank Entertainment Group, a Jupiter, Florida-based operator of movie theaters and entertainment venues. The transaction was done with Elm Park Capital Management and Triangle Capital Corp. No financial terms were disclosed.
Wilton Re Ltd has agreed to purchase the majority of Dutch insurer Aegon N.V.'s operations in Canada for $600 million. The assets to be acquired consist of Toronto-based life insurance provider Transamerica Life Canada and a number of affiliated businesses active in the Canadian market. The deal, which is expected to be closed in the first quarter of 2015, is being supported by equity funding from Canada Pension Plan Investment Board (CPPIB), which acquired the Bermuda-based Wilton Re for US$1.8 billion earlier in 2014. The company said the Transamerica Canada acquisition aligns with its strategy to provide risk and capital solutions to clients throughout North America.
Canada Goose Inc, a maker of luxury winter down jackets, expects double-digit sales growth going forward and is forecasting revenue this year to be well over $200 million, Reuters reported. Last year, the Toronto-based manufacturer sold a majority stake to Boston-based private equity firm Bain Capital for an undisclosed amount to help meet its growth ambitions. Canada Goose's CEO said the deal has helped facilitate expansion.