CI Capital Partners has acquired a majority stake in Maroon Group (which has changed its name from Maroon Inc). No financial terms were disclosed. Paul, Weiss, Rifkind, Wharton & Garrison served as advisor to CI Capital on the transaction while Bruml Capital and Meyers, Roman, Friedberg & Lewis advised Maroon. Based in Avon, Ohio, Maroon is a North American distributor of specialty chemicals.
O2 Investment Partners said Monday that it has acquired Packaging Concepts + Design, a packaging solutions provider headquartered in Troy, Michigan. No financial terms were disclosed. O2 teamed up with PC&D's management on the transaction. Midwest Mezzanine provided subordinated financing and equity while Comerica Bank provided senior financing.
The management team at Oxford, UK-based company bChannels has completed an equity-backed buyout of the business. Led by CEO Matt Rowland-Jones, the team has acquired a majority stake in the company following a secondary buyout from RCapital. The deal was backed by WestBridge Capital.
Ares Management said Monday its real estate fund have agreed to buy Pegasus Business Park from SEGRO PLC for € 83.4 million (US$113.4 million). Pegasus Business Park, located near the Brussels International Airport and eight kilometres from the city centre, was initially developed by SEGRO between 1999 and 2003. Pegasus Business Park consists of nine office buildings and an underground car park extending over 83,384 square meters.
Formula One's Bernie Ecclestone has raised the possibility of making a multi-billion dollar bid to buy back the sport's commercial rights from owners CVC Capital Partners, writes Reuters. London-based private equity firm CVC are the largest shareholder in Formula One with a stake of around 35 percent.
3i is considering a sale or initial public offering of its Finish telecommunication unit, Eltel Networks, in a deal that may value it about 1 billion euros ($1.4 billion) including debt, Bloomberg reported, writes Reuters. Morgan Stanley and French bank BNP Paribas SA were advising on the sale, according to reports.
Bridgepoint is to sell SPTS Technologies Group, a global manufacturer of etch, deposition and thermal processing equipment for the microelectronic industry, to Orbotech. The business is being sold for approximately $370 million in cash.
Insignia Capital Group has acquired Truco Enterprises from Arbor Investments and Truco’s co-founders. Terms of the transaction were not disclosed. Founded in 1991 and based in Dallas, Truco is a developer and marketer of tortilla chips, salsa and queso.
Onex Corporation and Canada Pension Plan Investment Board have completed the sale of Gates Corporation, Tomkins' principal remaining business. Blackstone has acquired the business for $5.4 billion.
Medicure Inc TSXV: MPH) has bought a minority interest in Apicore, a private developer and manufacturer of specialty active pharmaceutical ingredients. The acquisition was made through a US$22.5 million deal involving U.S. private equity firm Signet Healthcare Partners, which provided an equity investment, and Knight Therapeutics Inc and Sanders Morris Harris Inc, which provided debt financing. Under the terms of the deal, Medicure received an option to acquire all of the remaining shares of Apicore within the next three years. Based in Winnipeg, Manitoba, Medicure is a specialty pharmaceutical company focused on developing and commercializing novel small molecule therapeutics.