The Canada Pension Plan Investment Board (CPPIB) has agreed to invest approximately 376 million euros ($546 million) to acquire a 39 percent stake in the Interparking Group, a European car park management company. A CPPIB subsidiary, CPP Investment Board European Holdings S.ar.l, will the buy the stake from AG Real Estate, taking the latter's holdings to 51 percent. AG Real Estate is a subsidiary of Belgian insurance company AG Insurance. Based in Brussels, Interparking has operations in nine countries and a portfolio of 657 car parks in 350 cities.
Canadian private equity firm Waterton Global Resource Management has raised its offer to buy an increased interest in Chaparral Gold Corp (TSX: CHL). The previous acquisition price of $0.50 per share has been raised by Waterton to $0.55 in per share, or about $64.7 million in total, according to a report by the Canadian Press. Shareholders representing around 27 percent of Chaparral's issued and outstanding shares, including Waterton, have indicated that they intend to tender their shares to the revised offer. Based in Scottsdale, Arizona, Chaparral is a precious metals producer focused on projects in Nevada.
Elevation Partners may finally get to exit Forbes Media after eight years.
Private equity firm Sycamore Partners is in talks with regional discount store operator Fred's Inc about a potential takeover, sources told Reuters.
U.S. private equity firm General Atlantic is in talks to buy a 2 to 5 percent stake each in India's Just Dial Ltd and Info Edge India Ltd, two sources told Reuters.
Ardian has agreed to acquire a 20 percent stake owned by Equistone Partners in French construction company Spie batignolles. No financial terms were disclosed.
Littlejohn & Co. has acquired Northwest Hardwoods from American Industrial Partners. No financial terms were disclosed. Gibson, Dunn & Crutcher and Morgan Stanley advised Littlejohn on the transaction while Baker Botts and Goldman Sachs advised AIP. Headquartered in Tacoma, Washington, NWH is a hardwood lumber maker and distributor.
GTCR has agreed to acquire the Cole-Parmer Instrument Company, which makes specialty laboratory equipment, for $480 million. GTCR is buying the company from Thermo Fisher Scientific Inc. GTCR will invest in the company from its Fund XI.
Yukon Partners has provided subordinated debt and equity in Schryver Medical, Inc., which provides mobile imaging diagnostics, clinical laboratory services, oxygen therapy and durable medical equipment rental. Yukon invested alongside Revelstoke Capital Partners and institutional co-investors in acquiring a majority stake in Schryver. Ally Corporate Finance provided a senior credit facility in the deal.
Ares Management has agreed to acquire the parent company of National Veterinary Associates, a private owner of independent freestanding veterinary hospitals in the U.S. Ares will acquire the business from Summit Partners. NVA's senior management will retain a minority stake in the company. Terms of the deal were not disclosed. It is expected to close in the third quarter.