Welsh, Carson, Anderson & Stowe has found a buyer for TransFirst Holding after a seven-year hold.
An investor group made up of Alberta Investment Management Corp (AIMCo), Allianz Capital Partners and Hastings Funds Management has agreed to purchase Porterbrook Rail Finance Ltd, a rolling stock leasing company based in the United Kingdom. The financial details of the acquisition, which is expected to close this month, were not published. Porterbrook said the partnership with AIMCo, Allianz and Hastings would support its next phase of growth in the rail industry. Based in Edmonton, Alberta, AIMCo manages an investment portfolio totaling $80 billion.
British investment firm Melrose Industries Plc said on Saturday it had agreed to sell its Bridon division to the Ontario Teachers' Pension Plan in a 365 million-pound (US$587 million) deal, Reuters reported. Melrose said it expected the sale of Bridon, which supplies ropes used in mines, would be completed before the end of 2014, subject to anti-trust clearances.
Trive Capital has made undisclosed investments in Merlin RAMCo and ISR Group. Based in Jacksonville, Florida, Merlin is a provider of manned and unmanned flight operations, maintenance, engineering services, and logistics support for the U.S. Department of Defense and other government agencies. And, ISR, headquartered in Savannah, Tenn., provides training systems and programs, technical services, airfield services and logistics and depot support to military and commercial customers.
Vista Equity Partners will be acquiring NAVEX Global, a provider of ethics and compliance solutions. No financial terms were disclosed for the deal that's expected to close later this year. Deutsche Bank and Piper Jaffray are advising NAVEX Global on the transaction.
Dialogic Inc (OTCQB: DLGC) has agreed to be bought by Novacap TMT IV LP, a fund managed by Canadian mid-market private equity firm Novacap. The acquisition, which has been approved by Dialogic's board of directors, involves a cash consideration of US$35.3 million, to be divided among the company's investors, including U.S. alternative investment firm Tennenbaum Capital Partners. The deal is expected to be closed in the fourth quarter of 2014. Based in Parsippany, New Jersey, Dialogics is a communications technology business. Novacap TMT IV LP, which invests in technology, media and telecommunications companies, raised $375 million in its final close earlier this year.
Horizon Occupational Health Solutions Inc, a company newly formed by Canadian healthcare private equity firm Persistence Capital Partners (PCP) has bought the occupational health clinical services business of Morneau Shepell Inc (TSX: MSI). The financial terms of the deal were not disclosed. The new company, which offers an array of occupational and emergency services through its network of clinics and onsite and remote staff, aims to lead its industry in Canada, said Stuart Elman, a managing partner at PCP. PCP made the investment from its second fund, Persistence Capital Partners II LP, which raised $90 million in an initial close in May 2013.
Janus Capital Group has agreed to buy VS Holdings, the parent company of VelocityShares, a provider of ETPs and ETFs. The deal includes an initial upfront cash consideration of $30 million. The transaction is expected to close in the fourth quarter of 2014. Wells Fargo Securities and Paul, Weiss, Rifkind, Wharton & Garrison advised Janus Capital Group while Freeman & Co. Securities and Stoel Rives advised VS Holdings.
Uni-World Capital has made an undisclosed investment in Drake Manufacturing Services. Based in Warren, Ohio, Drake is a maker of precision CNC machine tools.
Providence Equity Partners LLC is in discussions with TPG Capital LP to acquire a majority stake in RentPath Inc, a real estate listings company known for its Apartment Guide and Rent.com websites, Reuters is reporting.