Millstone Capital Advisors, in partnership with Black Rock Holdings' Mark Disper, have acquired the St. Louis-based Lion's Choice restaurant chain. No financial terms were disclosed. Although the new operating company will be named LC Corporate, it will continue to run under the name Lion's Choice. Also, as a result of the transaction, Disper has been named president and CEO of Lion's Choice, while Millstone Capital Advisors' Bob Millstone and Fred Flegel will join the company's new board of managers. Dr. Marvin Gibbs, the founder of Lion's Choice, will serve as advisor.
Silver Oak Services Partners said Wednesday it sold its stake in Physicians Endoscopy to Pamlico Capital. Financial terms weren't announced. Jamison, Pa.-based Physicians Endoscopy develops, owns and manages endoscopy centers in the United States.
Rockwood Holdings said it has completed the sale of CeramTec to Cinven. The purchase price is EUR 1.49 billion (US$1.96 billion), subject to customary adjustments. Rockwood said it received net cash proceeds of over USD 1.75 billion, net of all transaction adjustments, fees and taxes. CeramTec, of Plochingen, Germany, produces high performance advanced ceramics materials and products.
Online holiday price comparison providers Icelolly has completed a 17 million pound management buyout backed by Palatine Private Equity. Bradford-based Icelolly is a holiday price comparison provider. The business also trades as an online travel agent via a series of brands, as well as selling advertising space via its site traffic and email database.
Bank of America Corp raised $1.47 billion by selling its remaining stake in China Construction Bank Corp, ending an eight year-old investment that generated a paper profit more than five times the original cost, writes Reuters. The Charlotte, North Carolina-based bank sold 2 billion Hong Kong-listed shares of CCB at HK$5.70 each, a 3.9 percent discount to Tuesday's close, a term sheet of the deal seen by Reuters showed.
H.I.G. WhiteHorse, a credit affiliate of global investment firm H.I.G. Capital, has arranged and provided unitranche debt financing to support JZ International’s acquisition of a majority interest in Winn Solicitors. The transaction has received the required approvals from the Solicitors Regulation Authority and Financial Conduct Authority.
Crestview Partners has closed its buy of DS Waters of America. Financial terms weren't announced. Atlanta-based DS Waters provides direct-to-consumer beverage services.
News Corp. said Tuesday it has sold the Dow Jones Local Media Group to Fortress Investment Group. Financial terms weren't announced. Dow Jones Local Media Group operated 33 publications, incuding 8 daily and 15 weekly newspapers. GateHouse Media, a Fortress portfolio company, will manage Dow Jones Local Media Group operations. Waller Capital Partners advised Dow Jones on the sale.
Machine Solutions, which is backed by Forsyth Capital, has acquired Vante. Financial terms weren't announced. The seller was Engineering & Research Associates. Tucson, Ariz.-based Vante designs, develops and manufactures process systems for the disposable medical device and biopharmaceutical industries.
Money manager The Rohatyn Group has turned itself into a major emerging markets player with the acquisition of Citi’s private equity emerging markets team Citi Venture Capital International.