Cerberus Capital Management LP is working on a mechanism that would allow its fund investors to exit Freedom Group Inc, the maker of the Bushmaster rifle used in the Newtown, Connecticut school shooting rampage, people familiar with the matter said on Sunday.
3P Equity Partners and Silver Sail Capital are acquiring Visioneering Inc., a designer, manufacturer and installer of high-quality fabrication, assembly and automation tooling systems for the aerospace and defense industry. Visioneering was previously owned by Hammond, Kennedy, Whitney & Company. D.A. Davidson & Co. acted as Hammond, Kennedy, Whitney & Co.'s financial advisor. The buyer's advisors include Sutton, Pakfar and Courtney as their legal representative and Crowe Horwath on accounting due diligence.
Navigat Group Pte has received a $25 million investment from Standard Chartered Private Equity. This second round of equity investment was made in conjunction with a $270 million debt refinancing for Navigat where Standard Chartered Bank was advisor to the company and joint lead arranger with OCBC Bank.
UK mid-market private equity specialist Graphite Capital has backed the management buyout of City & County Healthcare Group from Sovereign Capital Partners. This is the first investment made from Graphite’s new fund, Graphite Capital Partners VIII, which closed in October.
UK-based wealth manager Bellpenny has completed the acquisition of MGW Ltd, a wealth manager based in Glasgow. MGW is the second Glasgow-based IFA business purchased by Bellpenny, following its acquisition of K M Financial Advisers in August. The majority of MGW’s clients are based in the Central Scotland area.
Alkhabeer Capital has acquired a majority shareholding in Express Publishing and Investment Limited. The acquisition marks Alkhabeer Capital Private Equity’s second transaction in the UAE’s industrial sector.
KKR and Bain Capital are among suitors which have placed initial bids for Tyco International Inc's South Korean security systems unit, a business valued at about $1.6 billion, writes Reuters. A sale of ADT Caps, would follow Bain's $3.4 billion purchase of European security firm Securitas Direct in 2011 and Blackstone Group's acquisition of U.S. firm Vivint Inc for more than $2 billion last year.
Cerberus Capital Management is working on a mechanism that would allow its fund investors to exit Freedom Group, the maker of the Bushmaster rifle used in the Newtown, Connecticut school shooting rampage, writes Reuters. The move comes a year after the New York-based private equity firm said it would sell Freedom Group, a pledge that was made four days after 26 people, most of them children, were killed at the Sandy Hook Elementary School in Newtown.
Specialty aviation company Discovery Air Inc (TSX: DA) has agreed to purchase for an undisclosed sum Advanced Training Systems International Inc (ATSI), a U.S airborne training services company based in Mesa, Arizona. The acquisition, which the company said will take advantage of growth potential in the airborne training services market, will be made by its subsidiary business Discovery Air Defence Services Inc. The deal is expected to close within the next 30 days, with ATSI's majority shareholder having already agreed to vote in favour. The Etobicoke, Ontario-based Discovery Air is a portfolio company of Canadian mid-market private equity firm Clairvest Group. Clairvest made a $70 million investment in the company in 2011.
Canadian mid-market private equity firm TriWest Capital Partners has made an undisclosed investment in Source Energy Services (SES), a Calgary-based specialist in proppant sourcing and oilfield logistics. The deal, which was done in partnership with the company's existing shareholders and senior managers, will support the development of SES proppant distribution network, which delivers Wisconsin sand to the Western Canadian Sedimentary Basin and other basins. The SES investment follows TriWest's acquisition of Triple M Housing, and its acquisition of Colter Energy, and is the fourth investment made to date by TriWest Capital Partners Fund IV, which was closed last year at $350 million.