CIT Group, a provider of financing and advisory services to small businesses and middle market companies, served as joint lead arranger in a $140 million senior secured credit facility for National Dentex, a dental lab services provider in the US. NDX is a portfolio company of Welsh, Carson, Anderson & Stowe. Financing was provided by CIT Bank, the U.S commercial bank subsidiary of CIT. Terms of the transaction were not disclosed.
Nautic Partners and Ferrer Freeman & Company have sold Genova Diagnostics, Inc to Levine Leichtman Capital Partners and members of Genova management. Genova, founded in 1986, is a global specialty clinical laboratory.
Google has struck a deal with KKR to invest about $400 million in six solar power plants being built by Recurrent Energy LLC in California and Arizona, the Wall Street Journal reported, writes Reuters. Google and KKR's joint investment will be made in cash and debt. Google's equity stake is about $80 million, according to the newspaper.
Indianapolis, Indiana-based private equity firm Hammond, Kennedy, Whitney & Company (HKW) has sold Canadian Hospital Specialties ULC and Benlan Inc, which distribute and manufacture a broad range of sterile, disposable, medical and surgical devices in the Canadian market. The buyer is Cortec Group, a private equity firm based in New York. The financial details of the transaction were not published. The Oakville, Ontario-based Canadian Hospital Specialties and Benlan have been portfolio investments of HKW since 2010.
What do private equity firms need to consider when buying a retailer? Lots. Antony Karabus, president of Hilco Retail Consulting, gives five risks sponsors should consider.
Business Bancshares said Wednesday that it closed approximately $10 million in a private placement. The buyer was Castle Creek Capital Partners, which purchased 203,067 shares of common stock and 392,171 shares of non-voting common stock at $16.80 per share. The transaction was done on November 4, 2013. Business Bancshares is the parent of The Business Bank of St. Louis.
LA-based Levine Leichtman Capital Partners has acquired Genova Diagnostics. No financial terms were disclosed. Lazard Middle Market advised Genova in the transaction. Based in Asheville, NC, Genova Diagnostics is a global specialty clinical lab.
ORIX Mezzanine & Private Equity said Wednesday that it has made an undisclosed investment in L&S Mechanical. The transaction was conducted in partnership with Bounds Equity Partners and L&S management. L&S’s CEO Thomas Mozjesik will remain in his position and continue to hold an ownership stake in the company. Based in Richardson, Texas, L&S is a plumbing service company.
Snowden Capital Advisors said Wednesday that it has received a "significant" investment from Estancia Capital Partners. No financial terms were disclosed. According to the company, the funding will be used for personnel hiring. Sandler O'Neill + Partners served as placement agent and financial advisor to Snowden in the transaction. Snowden is an independent wealth advisory firm.
New York-based private equity firm Bregal Partners has formed Aqua Terra Water Management LP, which will serve as an acquisition and organic growth platform providing water management and disposal services to onshore oilfield customers in North America. Aqua Terra has already made its first investment, acquiring Four Winds Energy Services Ltd, a Grande Prairie, Alberta-based operator of Class 1b and Class II water disposal facilities. The financial terms of the deal were not published.