The Carlyle Group has agreed to acquire Johnson & Johnson's Ortho-Clinical Diagnostics business, which provides solutions for screening, diagnosing, monitoring and confirming diseases, for $4.15 billion. The transaction is subject to regulatory approvals and expected to close mid-2014. Equity for the deal is coming from Carlyle's sixth fund, which closed on $13 billion in November. The firm lined up financing for the deal from Barclays, Goldman Sachs, Credit Suisse, UBS and Nomura.
Apollo is to acquire CEC for approximately $1.3 billion, including the assumption of the company’s outstanding debt. CEC is a family dining and entertainmentcain which operates 577 Chuck E. Cheese’s stores.
Encore Consumer Capital has completed the sale of Zuke's, a marketer of premium dog and cat treats, to Nestlé Purina PetCare Company, the pet care division of Nestlé S.A. Cascadia Capital acted as financial advisor for Zuke’s and Brownstein Hyatt Farber Schreck worked as legal counsel.
Monroe Capital has provided a unitranche credit facility and equity co-investment to support the acquisition of Summit Container Corporation by 127 Summit Holdings LLC. Headquartered in Monument, Colorado, Summit is a niche-oriented, full service corrugated manufacturing company that designs, manufactures, and sells highly engineered protective packaging to various customers.
Emerald Expositions Inc, a portfolio company of Canadian private equity firm Onex Corp, has completed its previously-announced buy of trade show specialist George Little Management LLC (GLM) for US$335 million. The seller was U.S. private equity firm Providence Equity Partners, which acquired the White Plains, New York-based GLM in 2011. Onex Partners III invested US$140 million in the acquisition, with the balance funded by Emerald Expositions with debt. Onex bought the San Juan Capistrano, Calif.-based company, an operator of business-to-business trade shows and conferences, for US$950 million in 2013.
Network gear maker Riverbed Technology Inc rejected hedge fund Elliott Management Corp's $3.08 billion takeover offer and estimated fourth-quarter results above expectations, Reuters reported.
Tregaron Capital, a private equity firm that invests in small to medium-sized businesses in the Western U.S., has bought UST Corp. No financial terms were disclosed for the transaction, which was completed in October 2013. Generational Capital Markets served as an advisor on the deal. Headquartered in Layton, Utah, UST is a maker of dietary supplements and homeopathic drug products.
Summit Partners has acquired a majority stake in Parts Town. No financial terms were disclosed. Bill Reedy and Steve Snower, who serve as Parts Town's founder and CEO respectively, will retain their "sizeable" interests in the company. Metronome Partners served as financial advisor to Parts Town on the transaction. Parts Town is a provider of restaurant equipment parts for the foodservice industry.
Private equity firm Rezon8 has acquired a "sizeable" equity stake in PeriscopeIQ. No financial terms were disclosed. According to PIQ, the capital will be used for sales expansion efforts and strategic acquisitions. Headquartered in Coopersburg, Penn., PIQ is a provider of customer and employee engagement solutions.
Tokyo and New York-based private equity firm Wakabayashi Fund has agreed to provide funding to MIT Holding. No financial terms were disclosed. MIT is a wholesale distributor of pharmaceuticals.