Tiger Infrastructure Partners is to acquire a majority interest in Hudson Fiber Network. Further terms of the transaction were not disclosed. Established in 2002 and headquartered in Paramus, New Jersey, Hudson Fiber Network is a data transport provider for financial, carrier and enterprise clients.
Cassidy Turley has entered into an agreement with an affiliate of DTZ Investment Holdings to sell the business. DTZ is backed by TPG, PAG Asia Capital and Ontario Teachers' Pension Plan.
Standard Chartered Private Equity has led a $48 million joint investment in Mad for Garlic. The business is an Italian-style wine bistro of Korean origin.
Platinum Equity has put Ranger Boats up for sale, three sources said.
Shareholders of merchant bank BENEV Capital Inc have approved its previously announced deal with Franworks Franchise Corp to acquire a $12 million annual top-line royalty for a purchase price of approximately $103 million. Shareholders also agreed to a change in the company's name from BENEV to Diversified Royalty Corp. The Franworks acquisition was a point of contention between BENEV and former investor Difference Capital Financial, which reportedly sold all of its holdings in July. Earlier in 2014, the Vancouver-based BENEV entered into a services agreement with Canadian private equity firm Maxam Capital Corp.
Canadian mid-market private equity firm Birch Hill Equity Partners has completed its buy of the Motion Specialties and MEDIchair retail and home medical operations of Centric Health Corp (TSX: CHH). The deal, first announced in June, was valued at $50 million. MEDIchair and Motion Specialties are providers of mobility, respiratory and home accessibility products in Canada. They operate through a network of 47 franchised and 30 corporate stores.
American Beacon Advisors Inc, a manager of mutual funds owned by buyout firms Pharos Capital Group LLC and TPG Capital LP, is exploring a sale that could value it at more than $600 million, including debt, sources told Reuters.
TSG Consumer Partners is planning on acquiring a minority stake in LA-based Pabst Brewing Company. TSG will team up with Oasis Beverages on the transaction. No financial terms were disclosed. Ropes & Gray represented TSG on the deal.
Covanta Holding Corporation has executed an agreement with the Dublin City Council to build, own and operate a new 600,000 metric tonne per year, 58 net megawatt Energy-from-Waste facility in Dublin, Ireland. First Reserve's energy infrastructure arm has provided a convertible preferred investment.
Buyout shop FFL has set out a “well-thought out” succession plan, said co-founder Tully Friedman.