Telstra is to sell a 70 percent stake in its directories business, Sensis to US based private equity firm, Platinum Equity for A$454million. The sale excludes the voice services business and includes economic benefits to Telstra from services it will continue to provide to Sensis. Telstra will retain a 30 per cent shareholding with Sensis now valued at A$649million.
Australia's biggest phone company Telstra Corp is in advanced talks with a U.S. private equity firm over the sale of its Sensis directories business for as much as A$3 billion ($2.7 bln), writes Reuters. The Melbourne-based telco could complete the sale of its unit that publishes a range of print and online directories including the White Pages and the Yellow Pages to an unnamed U.S. firm as soon as next week, the Australian Financial Review reported.
Investors in Concord, Ont.-based enterprise communications provider Aastra Technologies Ltd (TSX: AAH) have approved the company's merger with Mitel Networks Corp (TSX: MNW) (Nasdaq: MITL). The previously-announced $400 million transaction received more than 99% of the votes cast in a special meeting of shareholders. Mitel, a cloud and communications software solutions business based in Ottawa, is majority-owned by U.S. private equity firm Francisco Partners and Dr. Terence Matthews. Osler, Hoskin & Harcourt LLP is acting for Mitel in the deal.
Ash City Worldwide Inc, a Richmond Hill, Ont.-based manufacturer of men's and women's corporate and casual apparel, has been bought by Alphabroder, a portfolio company of U.S. private equity firm Littlejohn & Co. Financial terms of the deal were not published. According to Littlejohn, the acquisition leverages Ash City's brands, sourcing and design capabilities and strong Canadian presence, and makes Alphabroder the leading seamless-source supplier of trade, retail and private label branded apparel in North America. The Trevose, Penn.-based company, formerly known as Broder Bros Co, was recapitalized by Littlejohn in 2012.
Avison Young Inc has acquired for an undisclosed sum The Eidson Group LLC, a corporate real estate services firm specializing in office space solutions in Altanta, Georgia. According to Avision Young, the deal further expands its tenant-representation services in Atlanta and the U.S. Southeast. The Toronto-based Avision Young, a provider of commercial, office and industrial real estate services, operates from 53 offices in Canada and the United States. The company has been a portfolio investment of Canadian mid-market private equity firm Tricor Pacific Capital since Oct. 2011.
Vadxx Energy has received undisclosed financing for its first plastic waste-to-energy facility. Private equity firm Liberation Capital has agreed to fund the first unit. Headquartered in Cleveland, Vadxx Energy is a recycling company
Healogics Inc, a private equity-owned provider of wound care services, is exploring a sale that could value the company at close to $1 billion, sources told Reuters.
Hellman & Friedman LLC is exploring a sale of Catalina Marketing Corp, which claims to have the world's largest shopper history database and could fetch as much as $2.5 billion, sources told Reuters.
H.I.G. Capital has agreed to acquire American Pacific Corp. for approximately $392 million. According to details of the deal, H.I.G. will commence a tender offer to buy AMPAC at $46.50 per share. KeyBanc Capital Markets is serving as financial advisor. Ropes & Gray is acting as legal advisor to H.I.G. Headquartered in Las Vegas, AMPAC is a chemicals maker.
Pharos Capital Group said Friday that it has acquired Seaside Healthcare. No financial terms were disclosed. The transaction was done in partnership with Seaside's founder, Franklin Roemer. Stephens advised Seaside on the deal. Headquartered in Shreveport, Louisiana, Seaside is a behavioral health services provider.