Tall Oak Midstream said Tuesday that it has received a commitment of up to $100 million in financing from private equity firm EnCap Flatrock Midstream and company management. Based in Oklahoma City, Tall Oak is a midstream company.
Goldman Sachs has acquired a non-controlling stake in Odyssey Logistics & Technology Corp. No financial terms were disclosed. Also, OL&T's previous backers, which include Boston Millennia Partners, CMEA Ventures and Strategic Shipping, participated in the investment. According to OL&T, the capital infusion will be used for acquistions and expansion. Headquartered in Danbury, Conn., OL&T is a global lead logistics provider.
Adveq Real Assets has completed the purchase of 18,000 hectares of almond orchards in Victoria, Australia in partnership with co-investors. The orchards, operated by Olam Australia, account for approximately 50 percent of Australia’s and 3.5 percent of the world’s almond production, which surpassed $5bn in 2013 according to Almond Board of California.
Standard Chartered Private Equity, the investment division of Standard Chartered Bank, has committed a further $15 million (ZAR150 million) to existing portfolio company and bank client, Afrifresh Group, a fruit producer and exporter. This capital injection follows SCPE’s initial $20 million equity investment made in February 2011 to fund the company’s expansion program.
Land registration specialist Teranet Inc has signed an agreement with the Manitoba government to transfer the province's property registry to Teranet Manitoba LP by Mar. 2014. Under the terms of the agreement, Teranet will make an upfront payment of $75 million and annual royalties starting at an estimated $11 million per year, growing to an estimated $24 million by end of term. Additionally, Teranet Manitoba will invest about $35 million in systems development to make property searches and registrations available on an online system. Based in Toronto, Teranet is a portfolio company of Borealis Infrastructure, an investment arm of the Ontario Municipal Employees Retirement System. Borealis bought the company for $1.6 billion in 2008.
Contemporary women's retailer Bebe Stores Inc is exploring a potential sale and is reaching out to private equity firms, sources told Reuters.
HgCapital has partnered with the founder management of Relay Software. Relay is a provider of software to insurance brokers, underwriters and insurers in the Republic of Ireland. Terms of the transaction were not disclosed.
ARX Equity Partners and Darby Private Equity together with experienced food industry executive Gerard Lenihan have completed the buyout of Gramex 2000 Kft. Financial details of the transaction were not disclosed.
Canadian mid-market private equity firm TriWest Capital Partners has in partnership with company management acquired a majority stake in Kayden Industries Ltd, a Calgary-based designer, manufacturer and supplier of large capacity centrifuges and supplemental equipment, primarily for the oil and gas industry. The financial terms of the deal were not disclosed. TriWest's acquisition of Kayden is the firm's fifth new platform investment since Nov. 2013, and the sixth investment made to date by TriWest Capital Partners Fund IV, which was closed at $350 million in 2012. Last month, the Calgary-based TriWest also backed movie exhibition chain Landmark Cinemas, and financed its buy of theatre assets from Empire Theatres.
Private equity firm AEA Investors LP is in advanced talks to acquire Gypsum Management and Supply Inc (GMS), a privately held maker of specialty building materials, for more than $700 million, sources told Reuters.