Communications and events company UBM said it would acquire Advanstar Communications, a privately-held trade show organizer, for $972 million, writes Reuters. Advanstar is controlled by hedge fund Anchorage Capital Group and private equity firms Ares Management and Veronis Suhler Stevenson.
The Paper Store, a specialty gift store based in Acton, Massachusetts, has received a minority growth equity investment from WestView Capital Partners. The Paper Store will continue to be majority-owned and operated by its existing management team.
Oil and gas company Bellatrix Exploration Ltd (TSX, NYSE: BXE) has received a $250 million commitment from Canadian Non-Operated Resources Corp (CNOR). The commitment is part of a new multi-year joint venture arrangement with CNOR, which is managed by Grafton Asset Management. CNOR last month received a $675 million equity investment from a consortium led by U.S. private equity firm Riverstone Holdings. That deal was intended to facilitate collaborations with other energy businesses. Calgary-based Bellatrix, which will use funds to accelerate development of its Western Canadian land holdings, said with the latest commitment contributes to a total of $500 million secured in its long-term partnership with Grafton.
An affiliate of Brookfield Asset Management has topped Florida real estate developer Glenn Straub's US$90 million bid for the bankrupt Revel Casino Hotel in Atlantic City, Reuters reported citing a recent Wall Street Journal story. Brookfield currently owns the Hard Rock Hotel & Casino Las Vegas.
Oncoceutics has received an undisclosed amount of funding. Spring Mountain Capital led the round. Based in Hummelstown, Penn., Oncoceutics is a drug developer that focuses on cancer.
MRO Corp. has received an undisclosed investment from middle market private equity firm Imperial Capital Group. MRO is a disclosure management and health information exchange.
LBO France has acquired skin care company Payot from Spanish perfume group Puig, a spokesman for the French private equity firm said on Friday, confirming a report by daily newspaper Le Figaro.
Food Evolution has secured an undisclosed investment from Balance Point Capital Partners. Akoya Capital Partners, Plexus Capital and Food Evolution's current management also participated in the round. In addition to the funding, Chris Franco has been named the company's CEO while Lou Nieto has been added to its board of directors. Headquartered in Schiller Park, Illinois, Food Evolution is a producer of food service products and outsourced commissary solutions.
Computer Sciences Corp has contacted private equity firms including Blackstone Group LP and Bain Capital LLC to gauge their interest in a leveraged buyout, Bloomberg reported.
Leeds Equity Partners has made an undisclosed investment in Covenant Review. The transaction was done with Covenant Review's Adam Cohen and Paul Ciasullo, both of whom will continue to lead the firm. The Jordan Edmiston Group represented Covenant Review on the deal. Based in New York, Covenant Review is a provider of fixed income research and analysis services.
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