Topspin Partners LBO has acquired HCOA Fitness, the largest operator of fitness clubs and personal training services in Puerto Rico. The sellers, TG Capital Corp, will remain significant equity holders and active partners in the business. Topspin completed the acquisition with debt financing from Brookside Mezzanine Partners. Brookside also invested alongside Topspin's equity in the transaction.
BV Investment Partners's portfolio company PetroSkills, a provider of competency-based training, software and information solutions for energy companies, has acquired Resource Development Company, which provides e-Learning content and software to the petroleum industry. The deal represents PetroSkill's second strategic acquisition under BV Investment's ownership.
Guardian Capital Partners has acquired a controlling interest in children's and women's hosiery platform McCubbin Hosiery, partnering with the executive management team of McCubbin on the deal. The existing managers will continue operating the company. PNC Bank provided senior debt financing and Patriot Capital Partners provided additional financing and minority equity.
Monroe Capital has funded a $27 million senior secured term loan in conjunction with a $40 million revolving line of credit provided by Bank of America Merrill Lynch to support the growth of Alliance Time and Ashford.com. Alliance Time is a wholesaler and online retailer of luxury watches and specialty jewelry. The company distributes a wide range of timepieces and fine jewelry from various suppliers to an international clientele through its website Ashford.com.
Acacia Partners has acquired Questco Companies. Questco is a professional employment organizations based in in Texas.
Private equity group Altor is eyeing a sale of Danish ship fuel supplier OW Bunker, possibly through a stock market listing, writes Reuters. OW Bunker secured a $700 million credit facility to support its growth strategy in the highly fragmented industry, presenting Altor with an attractive window of opportunity for a listing that could give the business a value of $1 billion.
Watkins Hire Limited has been sold to its management team, led by CEO Paul O’Kelly, backed by private equity house Baird Capital. Livingstone advised the shareholders of Watkins Hire on the transaction.
Apollo Global Management is looking to cash out on its investment in the owner of Lighthouse Investment Partners, three years it after it backed the fund-of-hedge-funds manager, writes Reuters. Disagreements over strategy and disappointment with Lighthouse's performance, however, have prompted the alternative asset manager to pursue an exit, writes Reuters.
GFL Environmental Inc, an integrated solid and liquid waste company based in Vaughan, Ontario, has acquired The Garbage Company Inc for an undisclosed price. According to GFL, its combination with Calgary's The Garbage Company will provide a strong base for business expansion in Western Canada. The company currently operates from more than 50 facilities in Ontario, Manitoba, Alberta and British Columbia. GFL is a portfolio investment of U.S. private equity firm Roark Capital Group, which committed $105 million to the company in Nov. 2010. Its other private equity backer is Canadian firm Genuity Capital Partners.
Private equity firm Dering Capital is in advanced talks to buy French broadcasting masts operator TDF, and is the last remaining bidder after a Canadian consortium dropped out, Les Echos reported on Wednesday. Sources told Reuters in October that Dering, founded in 2011 by Ben Jenkins, ex-Hong Kong head of Blackstone, had submitted a slightly higher first-round bid of about 3.6 billion euros (US$4.9 billion) than the group led by Canadian pension fund PSP Investments. The sellers are TDF shareholders, including the private equity funds TPG with 42 percent, Charterhouse Ardian -previously known as AXA private equity - and France's BPI.