CIT said Monday that it served as sole lead arranger for a $50 million senior credit facility to QMES, a portfolio company of private equity firm Quadrant Management. The loan will be used to refinance debt and provide working capital. QMES is a provider of durable medical equipment to patients in nine states.
L Capital Management and L Capital Asia, two private equity firms backed by LVHM, have acquired a minority stake in luxury footwear maker and retailer Vicini S.p.A. No financial terms were disclosed. Rothschild advised Vicini S.p.A. on the transaction while DVR Capital advised L Capital. Based in Italy, Vicini S.p.A. owns the Giuseppe Zanotti Design shoe brand.
F.N.B. Capital Partners has closed an investment in Kitchen Cabinet Designers. FNBCP provided a mezzanine debt and equity investment to partner with Ninth Street Capital Partners and KCD's founders Richard and Pauline Gambill.
Canadian private equity firm Onex Corp and Canada Pension Plan Investment Board (CPPIB) said they would sell industrial conglomerate Gates Corp to private equity firm Blackstone Group LP for $5.4 billion.
Cinven has acquired Medpace for $915 million. Medpace is a contract research organisation.
Black Lotus has secured an initial debt facility of $6 million, provided by East West Bank. Black Lotus, a leader in availability security and provider of distributed denial of service (DDoS) protection.
Waha Capital has sold its stake in AerLift Leasing to a newly-established U.S.-based aircraft leasing platform. AerLift Leasing was established in 2010, with Waha Capital owning a 60.7% shareholding. The company owns a portfolio of 11 commercial aircraft operated by a number of international airlines. Goldman Sachs served as advisors to Waha Capital on this deal.
Foxconn Technology Group, Apple Inc's main contract manufacturer, is in talks with Asian private equity firm MBK Partners to buy Taiwanese cable TV company China Network Systems, writes Reuters. Foxconn could pay about T$64 billion ($2.1 billion) for MBK's 60 percent stake in Taiwan's largest cable provider.
Canadian mining company Mason Graphite Inc (TSX Venture: LLG) has increased the size of its previously announced private placement offering to $10 million. As part of the offering, Ressources Québec will subscribe for 4.6 million units for gross proceeds of $3 million. Mason Graphite, which is focused on the exploration and development of its Lac Guéret graphite property in Québec, said it is also negotiating an additional institutional investment of $4 million. Ressources Québec, a subsidiary of Investissement Québec, invests in mining and hydrocarbon industries.
Canadian mid-market private equity firm Yellow Point Equity Partners has purchased Bravo Oilfield Safety Services Inc, a provider of fire suppression, mobile medical treatment, well control and other safety solutions to the oil and gas industry. The financial terms of the deal, which was done in partnership with Bravo’s senior managers, were not disclosed. Co-investor Ray Brausen will remain in his role as company president, and will continue to lead the business alongside new CEO and co-investor Harvey Schott. The transaction was completed by Yellow Point Equity Partners III LP, which was closed by Vancouver-based Yellow Point in 2012. Bravo has its headquarters in Grande Prairie, Alberta.