Toronto-based wireless service provider Mobilicity, a.k.a. Data & Audio-Visual Enterprises Wireless Inc, has received protection under the Companies’ Creditors Arrangement Act. The company said this protection will allow it time and financing to complete a going-concern transaction currently under federal review. Court authorities approved debtor-in-possession (DIP) financing of up to $30 million from some of the company's noteholders. Mobilicity has been backed by U.S. private equity firm Quadrangle Capital Partners since 2008.
Trident Capital and HLM Venture Partners have teamed up to acquire MedSave USA. No financial terms were disclosed. Also, Arneek Multani, John Reardon and Taimur Shaikh of Trident Capital, Peter Grua of HLM Venture Partners and Glen Moller join MedSave's board of directors. John Reardon has been named chairman of MedSave's board. Headquartered in Hauppauge, NY, MedSave USA is a provider of medical record retrieval solutions.
Pacific Community Ventures said Tuesday that it has sold its stake in resort Evergreen Lodge to Meyer Family Enterprises. No financial terms were disclosed.
Cigital said Tuesday that it has raised $50 million in financing from LLR Partners. According to Cigital, the capital will be used for expansion. Based outside Washington, D.C., Cigital is a provider of software security services and solutions.
Some of the world's largest private equity firms have made preliminary offers for Johnson & Johnson's Ortho Clinical Diagnostics unit, which makes blood screening equipment and laboratory blood tests and could fetch around $5 billion, sources told Reuters.
Bruxie said Tuesday that it has received an undisclosed investment from Catterton Partners. According to Bruxie, the capital will be used for expansion. Bruxie is a gourmet waffle sandwich restaurant chain in Southern California.
LNK Partners said Tuesday that it has acquired Fitness Connection from WestView Capital Partners. No financial terms were disclosed. Robert W. Baird & Co served as advisor to Fitness Connection in the transaction. Golub Capital provided additional financing. Based in McLean, Virginia, Fitness Connection is a health club chain.
Wolseley Private Equity has sold its stake in nextmedia to Forum Media Group. No financial terms were disclosed. Also, nextmedia CEO David Gardiner and commercial director Bruce Duncan, will both retain a stake in nextmedia. Based in Australia, nextmedia is a publisher of special interest magazines, websites, books and DVDs.
Campbell Soup Company said Tuesday that it has inked an agreement to sell its European simple meals business to CVC Capital Partners. No financial terms were disclosed. The transaction is expected to close in the fourth quarter of 2013. Allen & Overy is advising Campbell in this deal while CVC is being advised by Leopold Capital Partners, Barclays, Cleary Gottlieb Steen & Hamilton and Ernst & Young.
Platinum Equity said Tuesday that it has bought MetoKote Corp. from CCMP Capital Partners. No financial terms were disclosed. Also, MetoKote President and CEO Jeff Oravitz will remain in his leadership roles. Based in Lima, Ohio, MetoKote is a provider of industrial metal coating solutions.