Investors are readying offers for the Spanish assets of Germany's top utility E.ON, sources told Reuters, adding that the bids would value the portfolio at about US$2.7 billion. Parties expected to submit non-binding bids for assets include private equity firm CVC Capital Partners; a consortium consisting of Canada's Borealis Infrastructure and Portuguese utility EDP; as well as a group comprising private equity firm Riverstone and Swiss energy company Alpiq. KKR, Macquarie and Spain's Grupo Villar Mir also are expected to express an interest.
Buena Park, Calif-based rock-climbing shoe brand Evolv has received an undisclosed amount of funding from Bruckmann, Rosser, Sherrill & Co. Moss Adams Capital was the financial advisor to Evolv on this transaction.
Investcorp has sold SourceMedia to Observer Capital. Financial terms weren’t announced. New York-based SourceMedia is a B2B media company that publishes such titles as American Banker, The Bond Buyer as well as Mergers & Acquisitions. Investcorp put SourceMedia up for sale in late 2012 but couldn’t find a buyer, peHUB has reported.
TricorBraun Inc is planning a sale process that could value the provider of jars and bottles to the cosmetics, healthcare and food and drink industries at more than $1.3 billion, including debt, sources told Reuters.
Bendon, a portfolio company of Wicks, has acquired Artistic Studios. No financial terms were disclosed. Based in San Francisco, Artistic Studios is a maker and seller children's activity products and art sets.
ECS Tuning has received an undisclosed investment from Bertram Capital. Headquartered in Wadsworth, Ohio, ECS Tuning is an auto e-commerce platform.
Evergreen Pacific Partners has acquired SafeWorks from Wynnchurch Capital. No financial terms were disclosed. Based in Seattle, SafeWorks is a maker of suspended access products that help people work safetly at great heights.
Maidstone Capital Corp. has acquired Rockville, Maryland-based direct mail marketing firm EU Services. No financial terms were disclosed. Maidstone will pair EU Services with portfolio company Com-Pak Services, a provider of direct mail, print, fulfillment and postal solutions in Moorestown, NJ. Clif McDougall of Com-Pak Services will lead the combined companies as CEO while John Loudon, owner of EU Services, will maintain his ownership position.
Platinum Equity, which is looking to sell BWAY Corp., has already more than recouped its investment in the maker of aerosol cans.
Blackstone’s and Goldman Sachs Merchant Banking Division's buy of Ipreo has closed. The deal was valued at $975 million. KKR was the seller. Ipreo provides market intelligence, data, and technology solutions.