Angeles Equity Partners is seeking $300 million for its first fund, two sources said.
CCMP Capital Advisors has agreed to invest in PQ Holdings, a specialty chemical business for the consumer, oil and gas, transportation safety, specialty plastics and industrial markets. CCMP has agreed to acquire a 47 percent interest in PQ from The Carlyle Group. Existing shareholders INEOS, Carlyle and company management will continue to own about 53 percent of the company. The deal is expected to close in late 2014 to early 2015.
Nautic Partners has invested in All Metro Health Care Services, a home care agency providing services like light housekeeping, homemaking, bathing and grooming to seniors and high-needs individuals. Healthcare Finance Group led the financing for the transaction. Terms of the deal were not disclosed.
Solis Capital Partners has invested in LEHR LLC, which provides propane-powered products and tools. The investment was made through Solis Capital Partners II.
First West Capital, the mezzanine and subordinated debt lending arm of Canadian credit union First West Credit Union, has provided $1 million in expansion funding to ESPRO Inc. Based in Vancouver, ESPRO is a coffee and tea equipment specialist. The partnership with First West will focus on accelerating the availability of the company's products, improving the range of brewing methods, developing markets and introducing new products. ESPRO was founded in 2004 by engineers Bruce Constantine and Chris McLean.
Calgary's Jupiter Resources Inc, a portfolio company of U.S. private equity firm Apollo Global Management, has proposed a private offering of US$1.125 billion in senior notes to help fund its purchase of Encana Corp's Bighorn assets. Jupiter announced in June that it planned to pay Encana $2 billion to acquire the Bighorn natural gas properties in the Alberta Deep Basin. The unsecured notes ultimately will be guaranteed through an expected $1.5 billion senior secured reserve-based revolving credit facility that Jupiter intends to enter into near the close of the Bighorn deal. The acquisition is expected to be completed in the third quarter.
The CapStreet Group has completed a majority recapitalization of Davis S R Aviation and Turbine Jet Specialties together known as Red Aviation in partnership with the senior management team. Founded in 2002 by Stephen and Karen Davis and headquartered in Georgetown, Texas, Red Aviation engages in the procurement, sale, repair and maintenance of business jet aftermarket parts and engines.
Synova has backed the buyout of MK Test Group Limited. The business is a global provider of automated electrical test solutions to the aerospace, rail, and oil & gas industries.
Killam Properties Inc, in a joint venture with Canadian real estate-focused private equity firm KingSett Capital and Alberta Investment Management Corp (AIMCo), has agreed to acquire a stake in Kanata Lakes Apartments II. A new 152-unit apartment building in Kanata, Ontario, the property is being sold to the joint venture for $48.7 million. The transaction is expected to be completed this month.
WASH Multifamily Laundry Systems LLC, a portfolio company of U.S. private equity firm CHS Capital, has bought the multifamily laundry route division of Harco Co Ltd, a laundry service company based in Mississauga, Ontario. The financial terms of the acquisition were not released. WASH, a laundry facilities management service company located in El Segundo, California, said the deal will strengthen its presence in the greater Toronto area. The company's Canadian subsidiary, Coinamatic Canada, which undertook the acquisition, was bought by WASH in early 2013.