Final bids for French construction and concessions firm Vinci's parking concession business are due by early February, in a deal expected to fetch around 2 billion euros ($2.7 billion), three people close to the deal told Reuters. Potential buyers who are expected to submit bids include private equity firms KKR, Charterhouse and Ardian, infrastructure fund Antin and Canadian pension funds Ontario Teachers Pension Plan and the Canadian Pension Plan Investment Board (CPPIB), the sources said. Vinci Park operates 2,600 parking-lot assets in 14 countries and posted 615 million euros in revenue in 2012. Analysts say the unit is profitable but exposed to the mature, slow-growing French market.
Canadian First Nation-owned River Cree Enterprises has received a bond issue from a group of Canadian and U.S. institutional investors. The bond issue, estimated by The Globe and Mail as totaling $200 million, has helped facilitate the Enoch Cree Nation's acquisition in partnership with River Cree Enterprises of sole ownership of the Edmonton, Alberta-based River Cree Resort and Casino, buying out minority partner Paragon Gaming. Advice in connection with the acquisition and financing strategy was provided by investment banking firm Crosbie & Co, which confirmed that the bond issue attracted interest from investors that are active in alternative assets markets. The casino will be managed by gaming property operator Sonco Gaming Inc of Halifax, Nova Scotia. Torys LLP was one of the legal advisors on the deal.
Canadian industrial chemicals and services provider Chemtrade Logistics Income Fund (TSX: CHE.UN) has closed its previously announced buy of General Chemical Holding Co. The final cash purchase price is approximately US$900 million, which will be financed by Chemtrade through a mix of debt and equity. The acquisition, which Reuters first reported in Nov. 2013, adds significant size, scale and scope to Chemtrade's existing product and service platform, according to the company. The seller of the Parsippany, New Jersey-based chemicals and sulphuric acid manufactuer was U.S. private equity firm American Securities, which took General Chemical private in 2009 for US$673 million. Osler, Hoskin & Harcourt LLP acted as legal advisor to Chemtrade in the deal.
Aqua Terra Water Management LP, which was formed last year by U.S. private equity firm Bregal Partners, said Friday that it has acquired saltwater disposal assets from Canadian companies Ceiba Energy Services Inc and Phyllis Disposal Ltd. No financial terms were disclosed. Canaccord Genuity advised Aqua Terra on the deal. Update: The acquisition was made by Aqua Terra subsidiary Four Winds Energy Services Ltd, a Grande Prairie, Alberta-based operator of Class 1b and Class II water disposal facilities that was bought in Nov. 2013. Aqua Terra said the latest transaction marks its initial entry point into the Canadian Bakken and the heavy oil corridor around Lloydminster, Saskatchewan
Madison Dearborn Partners is investing $244 million to buy a majority of Ikaria, the latest example of a private equity firm using low equity.
Palladin Consumer Retail Partners has acquired KT Health. No financial terms were disclosed. KeyBank provided the debt financing for the transaction. Piper Jaffray served as financial advisor to KT Health on the deal. KT Health is a provider of kinesiology tape and related sports medicine products.
Private equity firm Carlyle Group LP said on Thursday it has agreed to acquire a strategic minority stake in privately held Vogue International, the maker of the Organix Hair Care product line, Reuters reported.
Italian fashion group Roberto Cavalli said on Friday it had not signed any agreement on a possible sale of the group, Reuters reported.
Midwest private equity firm O2 Investment Partners has acquired Alpha Sintered Metals from Cyprium Partners. No financial terms were disclosed. Based in Ridgway, Penn., Alpha Sintered Metals is a maker is of high-precision powdered metal components and assemblies for the automotive, small engine, recreational vehicle, lawn & garden, commercial vehicle and agricultural equipment industries.
Rosser Capital Partners has made a growth investment in T&B Management (Hickory Tavern), a Charlotte, North Carolina-based restaurant chain. Arlington Capital Advisors worked as the exclusive financial advisors to Hickory Tavern and its shareholders in the deal. Rosser Capital was formed by Hal Rosser, founding partner of Bruckmann Rosser & Sherrill.