KKR has agreed to acquire optical retailer National Vision from Berkshire Partners. No financial terms were disclosed. Barclays advised NVI on the transaction with Wells Fargo serving as co-advisor.
U.S. private equity firm Cerberus Capital Management LP completed a sale on Friday of its stake in Japanese property operator Kokusai Kogyo Co for about 140 billion yen ($1.37 billion), sources told Reuters. .
The Carlyle Group has agreed to buy the Industrial Packaging Group from Illinois Tool Works for $3.2 billion. Industrial Tool Group is a global manufacturer of strap, stretch and protective packaging consumables, tools and equipment. The deal is expected to close in mid-2014. Equity for the deal will come from Carlyle Partners VI. Debt financing will be provided by J.P. Morgan, Goldman Sachs, Bank of America Merrill Lynch, Barclays, Citigroup and Credit Suisse.
Longroad Asset Management has acquired a majority interest in Blue Bell Mattress Company, the Northeast licensee of the King Koil brand. Blue Bell Mattress sells both King Koil and private label inner spring and hybrid mattress to bedding and furniture retailers in the Northeast and Mid-Atlantic.
Behrman Capital's portfolio company Pelican Products, which designs and makes protective case solutions and portable lighting systems, has acquired UK-based Cool Logistics, which provides temperature controlled packaging solutions. Cool Logistics will join with Behrman portfolio company Minnesota Thermal Science.
Huron Capital Partners is partnering with former CEO of Clean Urban Energy Phil Bomrad to form a platform company in energy services. Through holding company Albireo Energy, Huron will invest and partner with regional and niche energy service providers to build businesses around energy efficiency and grid services for commercial and institutional buildings.
High Road Capital Partners has acquired New York-based General Tools & Instruments -- the third platform investment from Highland's second fund. General Tools designs specialty hand tools and handheld test instruments for consumers and professionals.
HFP Acoustical Consultants Corp, a Calgary-based provider of acoustics and noise control consulting services, has been bought for an undisclosed amount by SLR Management Ltd. SLR, a U.K.-based international environmental consultancy and portfolio company of British private equity firm 3i Group, at the same time bought the affiliated HFP Acoustical Consultants Inc of Houston, Texas. SLR said that the purchase of HFP, which has completed more than 5,800 acoustical engineering projects in 30 countries, brings technical expertise in industry sectors in which the company has a strong market position. 3i acquired a significant minority investment stake in SLR in 2008.
Illinois Tool Works Inc is nearing a deal to sell its industrial packaging unit for more than US$3 billion, with buyout firms Carlyle Group LP and Onex Corp competing in the final stretch of the auction, people familiar with the matter told Reuters. The company narrowed the list of potential buyers to Carlyle and the consortium of Onex Corp and Canada Pension Plan Investment Board (CPPIB) after reviewing final offers submitted on Monday, and could strike a deal as soon as this week, the people said on Thursday. Illinois Tool Works announced in September it was initiating a process to sell the industrial packaging unit, as the conglomerate continues to streamline its diversified business lines. The packaging business makes steel, plastic and paper products used for bundling, shipping and protecting transported goods, with brands including Signode, Strapex, Angleboard and Mima.
Quadrant Software LLC, a portfolio company of U.S. private equity firm Candescent Partners, said Thursday that it has acquired Business Computer Design Inc (BCD) and ExcelSystems Software Development Inc (ESDI). No financial terms were disclosed for the deal. Chicago-based BCD and ESDI, which is located in Victoria, British Columbia, are software companies. Update: ESDI develops, supports and provides services for almost all of the software under the BCD brand. Candescent led the acquisition of the Mansfield, Mass.-based Quadrant Software in 2010.