Grey Mountain Partners is providing an undisclosed amount of growth equity financing for Ajubeo, a provider of enterprise-class virtual private data centers and cloud infrastructure-as-a-service. Grey Mountain Partners is a Boulder, Colorado-based private equity firm.
Victory Park Capital is buying the consumer business of the Fuller Brush Company. The acquisition was approved by the U.S. Bankruptcy Court for the Southern District of New York. Victory Park is based in Chicago.
German real estate group TAG Immobilien and private equity investor Lone Star are likely to buy a portfolio of properties that the German government is selling, Reuters reported Wednesday. TAG looks set to pay around 500 million euros ($653 million) to acquire the 12,000 flats of state-owned TLG Immobilien, while Lone Star is likely to scoop up 300 commercial properties for slightly over 1 billion euros, they added. The two groups outbid trade rivals like KWG Kommunale Wohnen and investors like Blackstone and Cerberus.
Private equity firms KKR & Co., Apax Partners and Madison Dearborn Partners are bidding for Heartland Dental Care Inc., one of the largest U.S. dental practice management companies and which could be worth around $1.3 billion, according to people familiar with the matter, Reuters wrote. The buyout firms submitted final bids on Monday for Heartland Dental, which has been exploring a sale after hiring investment banks Jefferies and Moelis earlier this year, the people said. Heartland Dental, in which Chicago-based private equity firm CHS Capital Partners has a stake, has about $120 million in annual earnings before interest, tax, depreciation and amortization and could be sold for 10 to 12 times EBITDA, Reuters reported previously.
Wear Inns, a company focused on acquiring and managing a chain of community pubs across the North of England, has acquired a further two premises from the Orchid Pub Group. The company acquired nine pubs from TCG Bars in July 2012, so has completed a total of 11 acquisitions only five months after receiving a £10 million funding package from NVM Private Equity and Business Growth Fund. This will bring Wear Inns’ managed pub estate to a total of 26 premises.
Summit Midstream Partners has closed the $207 million acquisition of ETC Canyon Pipeline from La Grange Acquisition, a wholly-owned subsidiary of Energy Transfer Partners. Canyon gathers and processes natural gas in the Piceance and Uinta Basins in Colorado and Utah.
Bojangles' Restaurants has announced a refinancing of its $200 million senior debt facility, significantly lowering its borrowing costs. Bank of America Merrill Lynch served as lead arranger with Wells Fargo, Fifth Third Bank and Regions Bank as joint lead arrangers. KeyBank, Cadence Bank and Royal Bank of Canada also participated in the facility.
Turkey's Yildirim Group, a privately-owned diverse industrial company, has made offers totalling $1 billion in the past two months to buy six companies involved in energy, chrome and ports, owner Robert Yildirim told Reuters on Tuesday. The Turkish magnate declined to name the companies involved for reasons of confidentiality.
New York-based MidCap Advisors, a boutique investment bank focused on middle market transactions, advised on the sale of Southern Technical College in Orlando, Fla., to the Wicks Group, a private equity firm headquartered in New York. Southern Technical College operates six campuses in central Florida and offers career programs such as heating and air conditioning maintenance. Terms of the deal were not disclosed.
Louisville, Ky.-based SGS International, which offers graphic services to the consumer products packaging industry, announced today that its wholly owned subsidiary, Southern Graphic Systems, has acquired Stevenson Color for an undisclosed amount. Stevenson Color is family-owned, 86-year-old, Cincinnati, Oh.-based company that also provides graphics services to consumer products companies.