A group of Gulf investors led by Fajr Capital are in talks to buy Dubai-based oil services firm NPS Energy for up to $700 million, writes Reuters. NPS Energy put itself up for sale again after a deal to be bought by Norway's Aker Solutions fell apart last year.
First-round bids are due in December for Transpacific Industries Group Ltd's New Zealand waste management unit, which is attracting interest from international private equity firms and trade bidders, writes Basis Point a Thomson Reuters publication. Suitors are said to include private equity giants Blackstone Group and Carlyle Group, as well as Japan's Orix and New Zealand infrastructure investor Infratil.
Alliance Automotive Group, with the support of its shareholder Weinberg Capital Partners, has issued a private bond. The financing was arranged by Goldman Sachs and was syndicated to a small group of institutional investors. The seven-year bond with bullet repayment, provides the group with the financial flexibility to continue its long-term investment strategy and in particular enables it to apply its free cash flow to fund external growth.
Brand Energy & Infrastructure Services, Clayton, Dubilier & Rice and Harsco Corporation have merged Harsco’s infrastructure business with Brand. CD&R funds will hold a majority position in the new company, which will operate under the Brand Energy & Infrastructure Services name and generate approximately $3 billion in pro forma revenues.
DevaCurl, a hair care brand dedicated to curly hair along with its affiliated Devachan salons, has partnered with Tengram Capital Partners. TCP is a Connecticut-based private equity firm that focuses exclusively on middle-market consumer and retail companies.
Invest Nebraska has participated in a $3,000,000 mezzanine financing in Omaha-based Lodo Software, a provider of digital banking solutions. The investment was led by Invest Nebraska and Treetop Ventures. The proceeds from the financing will be used for sales and marketing efforts, development of new product features, and working capital.
In the third quarter of 2013, both deals and dollars invested in Canada’s buyout and related private equity (PE) market showed growth, according to data provided by Thomson Reuters (publisher of peHUB Canada). Control-stake acquisitions, minority investments and other PE transactions totaled 68, up slightly from one year ago. Disclosed values totaled $4.0 billion, which is more than double the $1.5 billion of Q3 2012, and the highest level reached so far this year. However, to date in 2013, Canadian deal-making continues to lag activity in 2012, with 212 transactions absorbing $7.4 billion at the end of September, down 17% year over year. Click here for the complete Q3 2013 Canadian buyout-PE market report.
U.S. private equity firm The Carlyle Group has agreed to buy Diversified Global Asset Management Corp (DGAM), a Toronto-based manager of hedge funds with more than US$6.7 billion in managed and advised assets. The deal's value was not published, though one source estimated it at US$33 million, plus a possible US$70 million if performance objectives are met. Upon completion of the transaction, expected in Feb. 2014, DGAM will become Carlyle’s hedge funds platform, with George Main and Warren Wright continuing in their roles as the company's CEO and CIO, respectively. Carlyle co-founder and co-CEO David M. Rubenstein said the buy would allow his firm to offer investors "the ability to allocate across alternatives in hedge funds, private equity and real estate.” Founded in 2004, DGAM invests on behalf of institutional investors.
(Reuters) - Industrial conglomerate Danaher Corp and private equity firm Blackstone Group LP are pursuing a joint bid for chemicals manufacturer Ashland Inc's water technologies unit, two people familiar with the matter said on Tuesday, in a deal that could top $1.5 billion.
Canada Bread Company Ltd, an affiliate of Toronto-based Maple Leaf Foods Inc (MFI: TSX), has completed the sale of its fresh pasta and sauce business Olivieri Foods to Ebro Foods SA. The acquisition price was previously disclosed as $120 million. Maple Leaf, which is backed by West Face Capital, last month indicated an interest in selling its majority stake in Canada Bread. Ebro Foods, a Madrid, Spain-based food group operating in the rice, pasta and sauces sectors, is a portfolio company of Spanish private equity firm Corporación Financiera Alba.