DXP Enterprises is to acquire B27, which is owned by Champlain Capital Partners. DXP will acquire all of the equity securities and interests of B27 at a purchase price of approximately $285 million.
European Capital Limited has received proceeds of €28.8 million from exiting two investments in Alliance Industrie and Financiere Alliance Industrie (together forming Alliance Automotive Group). European Capital realized a 1.8x money multiple and 11 percent internal rate of return on its investment in Alliance Industrie and a 1.1x multiple and 24 percent IRR on its investment in Financiere Alliance Industrie.
Hastings Equity Partners has made its first Fund III investment in Extreme Plastics Plus. EPP is an oilfield environmental services company focused on protecting well sites, such as pads and pits, from liquids leaking into the soil and surrounding area.
Enlightenment Capital's portfolio company Vistronix, a provider of intelligence and technology solutions to national security and civilian agencies in the federal space, has acquired NetCentric Technology and Kimmich Software Systems. Financial terms were not disclosed.
An investor group led by Advent International is to acquire a minority interest in Oleoducto Central S.A., a Colombian crude oil transportation system. Colombia’s two largest pension funds Sociedad Administradora de Fondos de Pensiones y Cesantías Porvenir S.A. and Administradora de Fondos de Pensiones y Cesantía Protección S.A. will join Advent, through a co-investment fund formed by Advent. Completion of the transaction is subject to customary closing conditions and is expected to take place within the next few weeks.
Truck maker Volvo has agreed to sell its machine rental business in North America to Platinum Equity for about 7.2 billion Swedish crowns ($1.1 billion), writes Reuters. Volvo is in the midst of a restructuring scheme to boost profitability across the group, writes Reuters.
Logibec Groupe Informatique Ltd has agreed to buy the enterprise management solutions division of Kelowna, B.C.-based QHR Corp for $20 million, less working capital adjustments. The business unit, which will operate under the name of Quadrant upon closing of the deal later this month, is a provider of administrative software solutions for healthcare organizations. Logibec said the acquisition strengthens its position as a healthcare-focused software solutions provider in Canada. The Montréal-based Logibec is a portfolio company of OMERS Private Equity, the private equity investment arm of the Ontario Municipal Employees Retirement System. OMERS took the company private for $237 million in 2010. Société générale de financement du Québec partnered as a minority investor in the 2010 transaction.
Alinda Capital Partners has acquired a 59% stake in Howard Energy Partners. No financial terms were disclosed. The sellers were Quanta Capital Solutions, GE Energy Financial Services, Clear Springs Energy and other unnamed minority stakeholders. Tudor, Pickering, Holt & Co. advised HEP in the transaction. Based in San Antonio, Texas, HEP is an independent midstream energy company.
Satori Capital has bought Ranger Wireless Solutions. No financial terms were disclosed. John H. Ofenloch Jr. has been named president and CEO of Ranger Wireless. Based in Dallas, Ranger Wireless is a technology-enabled service provider to the wireless telecom sector.
Arsenal Capital Partners said Monday that it has acquired Flowchem Ltd. No financial terms were disclosed. PPHB advised Flowchem in the transaction. Headquartered in Waller, Texas, Flowchem is a specialty chemical provider to the pipeline industry.