Permira has acquired health products company Atrium Innovations. Holders of Atrium shares will receive $24 per share in cash, and holders of Atrium's debentures will receive, for each $1,000 principal amount, a cash amount of about $1,150.
GTCR has acquired Callcredit Information Group in partnership with the company's management team. Callcredit provides consumer credit data solutions and software. GTCR is partnering with Callcredit CEO John McAndrew, managing director Graham Lund and the rest of the company's management team.
The Riverside Company has sold Vokes-Air Group, which provides air filtration solutions, to MANN+HUMMEL, a Germany-based global filtration company. Riverside invested in Vokes in 2008, carving out the company from SPX Corporation.
Starr Investment Holdings and Partners Group are acquiring healthcare pay processing company MultiPlan from Silver Lake and BC Partners. Terms of the deal were not disclosed. Financing for the transaction is lined up from Barclays and J.P. Morgan and is subject to regulatory approvals and customary closing conditions.
CapX Partners has provided a $7 million equipment lease line of credit to GTUIT, an oil and gas services company. Billings, Montana-based GTUIT installs mobile gas plants that capture gases to convert into natural gas liquids and sold.
Torys LLP has released a new report that takes an in-depth look at current Canadian private equity deal-making trends. In Private Equity Markets in Canada: 2013 Breakdown, 2014 Outlook, Michael Akkawi, Guy Berman and Sophia Tolias discuss how Canadian PE market trends of last year have provided key stage-setting dynamics for stronger market activity in 2014. Based on the evidence, Torys sees a promising deal environment in Canada in 2014, with a continuing investor focus on sell-side deals, but with greater emphasis given to PE-led acquisitions.
The Riverside Company has acquired Kansas City, Missouri-based Pence & Associates as an add-on to its Paradigm Tax Group platform. Meg Donigan, Paradigm’s executive vice president of corporate development, led discussions on behalf of the company, while partner Matt Dailey, vice president Brad Roberts and associate Bernardo Villar led talks for Riverside.
Bauer Performance Sports Ltd (TSX: BAU), a portfolio company of U.S. private equity firm Kohlberg & Co, has agreed to acquire the baseball-softball business of Easton-Bell Sports Inc in an all-cash transaction valued at US$330 million. The agreement was unanimously approved by both companies' boards of directors and is expected to close in approximately 30-60 days. The Van Nuys, Calif.-based Easton-Bell is a portfolio investment of Fenway Partners and the Ontario Teachers Pension Plan Board, which bought the company for US$400 million in 2006. Founded in Kitchener, Ontario, Bauer is a manufacturer of hockey and lacrosse equipment and apparel. Kohlberg and Roustan Capital acquired Bauer in a corporate carve-out deal in 2008. In 2011, Bauer raised $75 million in an initial public offering.
Celco Controls Ltd, a portfolio company of U.S. private equity firm High Road Capital Partners, has acquired Canadian Process & Control Ltd, a Port Coquitlam, B.C.-based manufacturer of customized process control systems for the resource, refining, chemical, wastewater treatment and manufacturing industries. The financial terms of the deal were not disclosed. Celco Controls said the acquisition solidifies its position as a leader in Western Canada's automation marketplace. Based in Winnipeg, Manitoba, Celco Controls designs, programs and implements customized automation control systems for a diverse set of end markets. The company was bought by High Road Capital Partners in 2010.
The take-private acquisition of natural health products manufacturer Atrium Innovations Inc (TSX: ATB & ATB.DB) by an investor group led by European private equity firm Permira Funds has been completed. As previously reported, the total enterprise value of the deal (including debt) was around $1.1 billion, and the purchase price around $751.2 million. Holders of Atrium shares, other than shares rolled over by the Fonds de solidarité des travailleurs du Québec FTQ and the Caisse de dépôt et placement du Québec, will receive $24.00 in cash per share. Company shares and debentures will be de-listed from the Toronto Stock Exchange on or about February 14, 2014. Founded in 1999, Atrium Innovations is based in Québec City.