TPG Capital Management LP has agreed to buy a majority stake in Sri Lanka's Union Bank of Colombo PLC (UBC) for $113 million in the country's biggest buyout deal, Reuters reported.
Deepwater oil exploration company Venari Resources has raised an additional $1.3 billion from a group of investors. Venari's management and existing investors Warburg Pincus, Kelso & Company, Temasek and The Jordan Company were joined by new investors GIC and BlackRock Private Equity Partners. To date, Venari has raised $2.4 billion, including $1.1 billion when the company was formed in May 2012.
Tritium Partners and StepStone Group have made a majority investment in e-commerce provider Access Technology Solutions. Ocean Avenue Capital Partners also participated in the deal. Pacific Crest Securities worked as financial advisor to Access Technology Solutions in the transaction.
Odyssey Investment Partners has agreed to sell Ranpak Holdings, Inc., which provides paper-based systems for the protective packaging market. Odyssey is selling Ranpak to Rhône Capital. Financial details of the transaction were not disclosed. The deal is expected to close in the third quarter.
Odyssey Investment Partners said Wednesday that it had agreed to sell Ranpak Holdings to Rhone Capital. Financial terms weren’t announced. The deal is expected to close in third quarter. Concord Township, Ohio Ranpak makes paper packaging products that protect and cushion items during shipping.
WordLogic Corp has received a financial commitment to purchase exclusive rights to its legal enterprise solutions for North America. The licensing will be to an unidentified U.S. private equity firm based in Virigina, the company said. The terms include a $1 million payment, 10 percent royalty on all sales and 15 percent annual software maintenance fee on all sales. Based in Vancouver, WordLogic develops, markets, licenses and sells advanced predictive platform software designed to accelerate information discovery and text input.
Aimia Inc, a Montréal-based loyalty management company and the owner and operator of Aeroplan, has made a minority equity investment in Fractal Analytics, a provider of advanced analytics. The amount of the investment was not disclosed. Aimia said the investment is part of a strategic partnership with Fractal that will realize several benefits, including deepened analytics capabilities for Aimia and the extension of its loyalty expertise to Fractal's clients. Founded in 2000, Fractal has corporate offices in Guragon, India, London and New Jersey. In June 2013, U.S. technology-focused private equity firm TA Associates made a US$25 million investment in the company.
ONCAP, the mid-market platform of Canadian private equity Onex Corp, has confirmed plans to sell U.S. car wash chain Mister Car Wash. A second quarter financial statement by Onex did not specify the buyer, but earlier reports have indicated it will be U.S. private equity firm Leonard Green & Partners. ONCAP is likely to take home approximately US$380 million in net proceeds from the deal. This translates into a gross multiple of capital invested of about 8x and a gross IRR of 36 percent.
Miami private equity firm Pine Tree Equity has re-acquired Celtic Capital. No financial terms were disclosed. Pine Tree Equity originally acquired Celtic Capital in December 2008 and then sold it to a commercial bank in April 12. Based in Santa Monica, Calif., Celtic Capital is a provider of asset-based financing from $500,000 to $5 million to small businesses in the western U.S.
Italian designer Roberto Cavalli is in talks to sell a majority stake in his eponymous fashion house to VTB Capital, the investment arm of Russia's second largest lender, VTB Bank, sources told Reuters.