Bravo Natural Resources, backed by Natural Gas Partners, has agreed to buy producing and gathering assets from Oklahoma City-based Canaan Natural Gas PE Funds for $250 million in cash. Closing is expected in the fourth quarter. The deal includes 950 operated and non-operated wells producing from various sites in the Arkoma Basin of southeast Oklahoma.
Tower Arch Capital has completed the recapitalization of Hard Rock Directional Drilling. Hard Rock is a San Antonio, TX based specialty-boring and services company primarily serving the energy industry.
F.W. Davison & Company, a provider of software solutions has received a minority growth equity investment from Accel-KKR. In conjunction with the investment, Greg Williams, managing director at Accel-KKR and David Cusimano, vice president at Accel-KKR, will join the board of directors.
The planned $12.6 billion merger of Tim Hortons Inc with Burger King Worldwide Inc will be tested by forthcoming changes to U.S. Treasury tax rules, reports Fitch Ratings Inc. The New York-based rating agency said new rules are intended to reduce the attractiveness of tax inversion strategies that encourage U.S. companies to relocate their headquarters abroad. Fitch noted that the structure of the Tim Hortons-Burger King deal, which is being led by private equity firm 3G Capital, might help avoid challenges. The two companies issued a statement saying the merger will go ahead regardless, because it has "always been driven by long-term growth and not by tax benefits."
Veresen Inc, a Calgary-based pipeline company developing the Jordan Cove liquefied natural gas facility in Oregon, has agreed to acquire Global Infrastructure Partners' half interest in the Ruby pipeline system for US$1.43 billion, Reuters reported. Upon completion of the transaction, Veresen will become Kinder Morgan Inc's equal partner in the pipeline.
British holidays and airline company Monarch is set to be acquired by Greybull Capital after the London-based family investment firm was named as its preferred bidder, Reuters reported.
The Riverside Company has invested in Medical Payment Exchange, which provides healthcare providers a way to manage their reimbursement claims by bundling claims into manageable cash flow streams. Riverside has completed more than 70 healthcare deals.
Peak Rock Capital portfolio company Atlas Southeast Papers has acquired Roses Southeast Papers, a manufacturer of tissue paper products. Headquartered in Sanford, Florida, Atlas Southeast is a manufacturer of tissue paper products, capable of producing both virgin and recycled grades.
UK credit solution business Capquest is to be acquired by Arrow Global Group. The business is being sold by Towerbrook.
Oakley Capital Investments Limited has acquired a majority stake in Facile. Founded in 2008, the business is an Italian car insurance broker and price comparison website.