Canadian private equity firm Onex Corp has confirmed that it plans to acquire York Risk Services Group Inc, a provider of risk management, claims management and managed care services, from U.S. private equity firm ABRY Partners. The deal, priced at US$1.325 billion, was anticipated in a report by Reuters earlier this week. Onex Partners III LP, certain limited partners as co-investors, including Onex, and York’s management team will contribute to an equity investment of approximately $560 million. ABRY made a majority investment in the Parsippany, New Jersey-based company in late 2010. In May, Onex wrapped up its fourth partnership, Onex Partners IV LP, at US$5.15 billion.
Activist investor Bill Ackman urged Botox maker Allergan Inc to negotiate a possible takeover by Valeant Pharmaceuticals Inc and not delay a special shareholder meeting that could overturn most of Allergan's board, Reuters reported. Ackman's Pershing Square Capital Management hedge fund, Allergan's largest shareholder, is attempting to gain support of shareholders to call a special meeting, during which it would seek to remove six directors. Laval, Québec-based Valeant made a cash and stock bid for the company in April and has since raised its US$51-billion offer.
Spain's Grupo Villar Mir and Portuguese utility Energias de Portugal (EDP) have emerged as potential buyers for German utility E.ON's Spanish assets, people familiar with the process told Reuters. EDP is teaming up with Borealis Infrastructure, an investment arm of the Ontario Municipal Employees Retirement System (OMERS). The Spanish operations could fetch between US$1.1 billion and US$2.7 billion, depending on whether E.ON sells the whole business or only individual assets.
KKR has made back roughly 80 percent of its investment in Capsugel in less than three years.
Canadian private equity firm Onex Corp said it would buy York Risk Services Group Inc, an insurance claims services provider, for $1.33 billion.
Blackstone has won the auction for a 6.4-billion-euro ($8.66 billion) portfolio of property loans belonging to Spain's bailed-out Catalunya Banc, which is being prepared for a sale, two people familiar with the process told Reuters.
Drug capsule maker Capsugel is refinancing $1 billion of leveraged loans in a deal that also finances a $400 million dividend payment to its private equity owner KKR, banking sources told Reuters.
Frontenac Company said Wednesday that it has completed a majority recapitalization of Cloud Star Corp. No financial terms were disclosed. Based in San Luis Obispo, Calif., Cloud Star is a provider of products and treats for pets.
Data3Sixty, a Westwood, Mass.-based provider of data governance solutions, has received an undisclosed amount of funding. Breton Capital Management led the round.
The Riverside Company has acquired PearServe as the fifth add-on to its Emergency Communications Network platform. Based in Louisville, Kentucky, the business provides voice, text and email notification services for healthcare, education, and corporate clients nationwide.