The Abraaj Group said Monday that it has invested in African Industrial Services Group. No financial terms were disclosed. Based in Cote d’Ivoire, AIS is provider of engineering solutions.
Private equity firm KKR & Co LP (KKR.N) is nearing a deal to acquire lifting equipment company Crosby Group LLC for around $1 billion, two people familiar with the matter said on Sunday.
A consortium of the Russian Direct Investment Fund, Titan International Inc and One Equity Partners have completed the acquisition of Russian agricultural and industrial tire manufacturer, OJSC Voltyre-Prom, from Cordiant. The deal represents One Equity Partners’ first investment in Russia.
Terry Hunter, chief executive of Tryzens, and his senior management team have completed the acquisition of digital solutions provider Tryzens Limited from its parent company Jaywing with backing from UK venture capital firm, Scottish Equity Partners.Tryzens, which also has offices in Bulgaria and India, is a provider of digital retail solutions.
As expected, third quarter deal volume slowed. There were 426 U.S. announced PE deals in third quarter, totaling $40.4 billion, Thomson Reuters said.
OTI Canada Group, a Montréal-based company specializing in petroleum testing and inspection, has been acquired by Bureau Veritas, a global provider of compliance and certification services in the areas of quality, health and safety, the environment and social responsibility. Financial terms of the deal were not disclosed. Based in Neuilly-sur-Seine, France, Bureau Veritas is majority owned by French private equity firm Wendel.
Mississauga, Ontario-based Match Marketing Group (Match MG), a brand engagement and shopper marketing agency, has purchased for an undisclosed amount retail merchandiser Convergence Marketing Inc of Baltimore, Maryland. The acquisition of Convergence is the company's eighth in the past two years. Businesses bought in recent months include Marketing Drive, Marketing Weld Digital and SVM. Match MG is a portfolio company of Beringer Capital, a Canadian private equity firm focused on the marketing services and specialty media industry.
Cequence Energy Inc (TSX: CQE), a Calgary-based oil and gas exploration and development company, has arranged to receive $60 million in unsecured notes from the credit investment arm of Canada Pension Plan Investment Board (CPPIB). This funding, which may be supplemented by another $60 million in future, will be used to accelerate development of the company's Simonette project in Western Canada. Cequence, a portfolio company of Canadian private equity firms ARC Financial Corp, JOG Capital and KERN Partners, has as part of the transaction granted CPPIB warrants to purchase common shares.
Some investors received token allocations on the 320 million euro ($435.05 million) leveraged loans backing the buyout of Campbell Soup's European businesses after the deal raised more than 1 billion euros in syndication, Reuters reported.
Sotheby's adopted a "poison pill" to ward off an unwanted takeover, two days after activist investor Daniel Loeb's Third Point LLC announced that it raised its stake in the auctioneer and called for its chief executive to step down, Reuters reported.