Succession Capital, a subsidiary of Lynx Equity Limited, has acquired H.J. Sherman Company. No financial terms were disclosed. Based in Van Nuys, Calif., H.J. Sherman is a maker and distributor of religious gifts and jewelry.
Blackstone Group is acquiring a majority stake in auto repair shop chain Service King Collision Repair Centers. The Carlyle Group, its co-investors and the management and employees of Service King will retain a significant minority stake in the business.
Rosser Capital Partners has backed PetPeople. Headquartered in Columbus, Ohio, PetPeople operates 20 pet retail locations in Ohio, Michigan and Indiana.
Abacus Finance Group has provided a $19 million in senior secured credit facility to support the leveraged buyout of Atronix by Wafra Partners and its affiliate Wafra Investment Advisory Group. Headquartered in Billerica, MA, Atronix is a provider of cable assemblies, wire harnesses and electromagnetic assemblies.
Beringea portfolio company Abzena has raised funds on the AIM market of the London Stock Exchange. Beringea first invested in Polytherics through ProVen Growth and Income and ProVen Health in September 2011.
Roark Capital Group, which has owned Fastsigns International for more than 10 years, has found a buyer for the company.
Succession Capital, the U.S. investment arm of Canadian private equity firm Lynx Equity, has bought H.J. Sherman Co Inc, a designer, manufacturer and distributor of religious gifts and jewelry. The financial terms of the transaction were not published. Based in Van Nuys, California, H.J. Sherman has served the religious gifts market throughout North America for more than 65 years. The company's acquisition is the 10th by Lynx and Succession since the beginning of 2014. The Toronto-based Lynx is focused on acquiring small to medium-sized businesses from owners looking to retire.
Investor William Ackman, who owns nearly 10 percent of Botox maker Allergan Inc, has said that the likelihood of Valeant Pharmaceuticals International Inc succeeding in its hostile takeover for Allergan increased on Monday, Reuters reported. Ackman's Pershing Square Capital Management and Valeant made a joint offer for Allergan in April, which the company has rejected. The spread on the deal was below 3 percent on Monday. Ackman said that was a drop of 50 basis points.
Connor, Clark & Lunn Infrastructure (CC&L Infrastructure) and Samsung Renewable Energy have formed a partnership to provide equity financing to the Kingston Solar Project, a 100 megawatt initiative based in Ontario's Kingston and Loyalist Township. The partners also announced the close of debt financing for the project. Financial details were not disclosed for either of the funding arrangements. Construction of the project is expected to begin soon, with completion anticipated by late 2015. CC&L Infrastructure is an affiliate of Canadian asset manager Connor, Clark & Lunn Financial Group.
The fourth time is the charm for U.S. private equity firm Lindsay Goldberg, which finally has found a buyer for First American Payment Systems. An investor group led by Ontario Teachers’ Pension Plan is acquiring the payment processor, according to a July 18 statement. While the financial terms weren't announced, First American likely sold for around US$700 million, a source told peHUB. Lindsay Goldberg originally invested in Fort Worth, Texas-based First American, which provides payment processing services for more than 140,000 merchants, in April 2003.