Aberdeen Asset Management is to buy Lloyds' fund management arm Scottish Widows for about 660 million pounds ($1.1 billion), creating Europe's No. 1 listed stand-alone fund manager, Reuters reported.
New York-based private equity firm American Securities said Monday that it has agreed to buy Tekni-Plex from Oaktree Capital Management. No financial terms were disclosed for the transaction, which is expected to close by the end of the year. Goldman, Sachs & Co. served as financial advisor to Tekni-Plex while Houlihan Lokey and BMO Capital Markets Corp. advised American Securities. Headquartered in King of Prussia, Penn., Tekni-Plex is a global manufacturer of packaging and tubing materials for consumer products.
Apollo Global Management has acquired MidCap Financial. No financial terms were disclosed. Bank of America Merrill Lynch, SunTrust Robinson Humphrey and Moelis & Company served as advisors to MidCap in the transaction. Headquartered in Bethesda, Maryland, MidCap is a healthcare-oriented commercial finance company focused on middle market lending.
The Blackstone Group has established B2R Finance to provide residential buy-to-rent mortgages for property investors, focused on the financing needs of single-family home investors. B2R's products are tailored to investors with portfolios of five to 500 homes nationwide. Blackstone financed the creation of B2R with capital from its Tactical Opportunities funds.
GTCR has completed the sale of national security and defense intelligence services provider Six3 Systems to CACI International, a provider of information solutions and services to government customers, for $820 million. Six3 Systems was formed in 2009 by industry veteran Bob Coleman in partnership with GTCR.
The Royal London Group has entered in to an agreement with private equity firm Vitruvian Partners to support a management-led buyout of Royal London 360° and its subsidiaries for an undisclosed sum. The RL360° executive management team, led by chief executive David Kneeshaw, will remain unchanged. Following completion, the company will be re-branded RL360°.
Stratasys has entered into a credit agreement with Bank of America for a five year revolving credit facility of up to $250 million. The company has the right to request increases in the facility of up to an aggregate of $75 million, subject to the agreement of the lenders and certain other conditions.
Argos Soditic and management have acquired Cisbio Bioassays. The biotechnology company specialises in products and services for human in vitro diagnostics and pharmaceutical research.
A consortium led by Russia’s leading investment bank VTB Capital, including TPG Holdings and China Investment Corporation, international developer AIG/Lincoln, and Coalco Development have completed their sale of White Gardens, a class A office center in Moscow, to Millhouse. The deal was facilitated by Jones Lang LaSalle.
Private equity firm Advent International has made a cash offer of 1.17 billion euros ($1.58 billion) for UNIT4 NV, the Dutch business software, writes Reuters. The offer represents a 32.4 percent premium to UNIT4's closing price on October 11, just before it announced it had been approached by companies interested in buying it.