Ottawa-based Mitel Networks Corp. has acquired for approximately $20 million its supplier prairieFyre Software Inc., an Ottawa company focused on contact center, business analytics, and workforce optimization software. Mitel, a publicly-listed provider of communications software, has since 2007 been backed by U.S. technology-focused private equity firm Francisco Partners. The company is also backed by Canadian private equity firm Wesley Clover International Corp.
Private equity firm The Carlyle Group said on Monday it had raised a 350 million euro ($467.16 million) Collateralized Loan Obligation (CLO) fund to invest in European bank loans.
KPS Capital Partners, LP said today that its portfolio company, Waupaca Foundry, has completed a second recapitalization. Proceeds of the recap, a $125 million upsizing of the company's term loan, were used to fund a $125 million cash distribution to stockholders. GE Capital Markets acted as lead arranger for the loan. In February, Waupaca completed its first recap and paid out a $200 million cash distribution to shareholders. Waupaca, Wis.-based Waupaca Foundry is a producer of gray and ductile iron castings.
The rate at which private equity firms exited their European investments slowed last year, a study showed on Monday, as economic uncertainty hit both new stock market listings and merger activity, Reuters reported.
3i Group plc said on Monday that it has agreed to sell its 64% stake in Trescal to AXA Private Equity. TCR Capital has also agreed to sell its minority stake in Trescal to AXA. The transaction is valued at approximately €250 million. Trescal is a global provider of services for the test and measuring equipment market.
Bahrain-based Investcorp has bought a 38 percent stake in a Saudi oil and gas services company and expects to complete up to three more deals via its $1 billion Gulf fund in 2013, Reuters is reporting.
Babson Capital Management LLC said on Monday that it has provided subordinated debt and made an equity co-investment in Main Street Capital Holdings’ acquisition of the Hi-Rel Group LLC. No financial terms were disclosed. Based in Essex, Conn., the Hi-Rel Group is a provider of components for the microelectronic packaging sector.
CI Capital Partners said on Monday that it has sold Transplace to Greenbriar Equity Group. No financial terms were disclosed. Based in Frisco, TX, Transplace is a provider of third party logistics.
Salmon farmer Cermaq has received an offer from private equity firms Altor and Bain Capital, writes Reuters. The offer is for Cermaq's EWOS unit for an enterprise value of around $1.1 billion.
France's Eutelsat Communications and KKR are among the suitors to place first-round bids for Singapore Telecommunications Ltd's Australian satellite unit, writes Reuters. SingTel, Southeast Asia's largest telecom operator, values the satellite business of its Australian unit Optus at more than A$2 billion ($1.9 billion), and has put it on sale as it battles tepid growth in its key markets of Singapore and Australia, writes Reuters.