New Zealand broadcaster MediaWorks Ltd has been placed in receivership after its private equity owners and bankers failed to agree on a refinancing deal, but new owners have been lined up, writes Reuters. Investors led by Australian businessman Rod McGeoch, a director of gaming company SkyCity Entertainment Group Ltd and chairman of Vantage Private Equity Ltd, are set to take over the company which operates New Zealand's TV3 and Channel 4 television networks, and a string of radio stations, writes Reuters.
AXA Private Equity has entered into exclusivity with 3i and TCR Capital to acquire Trescal. AXA Private Equity's proposed transaction values the company at approximately 250 million euros ($333.5 million).
Waha Capital, an Abu Dhabi-based investment company, has acquired Anglo Arabian Healthcare. The business is a new healthcare group set up to own and operate hospitals, clinics, pharmacies and diagnostic centres across the United Arab Emirates.
Hilco Brands, the brand investment and management division of Hilco Global, has acquired the Portico® and Under the Canopy® brands from New York-based Portico Brand Group. Hilco Brands is a private equity firm that acquires and manages high-growth consumer lifestyle brands.
Rockwood Holdings is to sell CeramTec, its advanced ceramics business to Cinven for 1.49 billion euros ($1.98 billion) subject to customary adjustments. CeramTec, headquartered in Plochingen, Germany, is a global producer of high performance advanced ceramics materials and products.
NVM Private Equity has backed the management buyout of Cleveland Biotech, a provider of environmentally friendly biological waste treatment products. The change in ownership will allow the management team to build the business organically, expanding in existing and new markets across Europe.
Toronto-based Mega Uranium Ltd., a producer of uranium, has merged with Rockgate Capital Corp., a mineral exploration company based in Vancouver. The transaction, which will see Rockgate become a subsidiary of Mega Uranium, will create a diversified uranium company with assets in Australia and Mali, and approximately $22 million of cash. Mega Uraninum is a portfolio investment of Canadian private equity firm Pinetree Capital.
Montréal-based Amaya Gaming Group Inc., an entertainment solutions provider for the gaming industry, has agreed to acquire Diamond Game Enterprises, a designer and manufacturer of gaming-related products based in Los Angeles. Amaya is expected to pay US$25 million for the company, with the deal expected to close in the fourth quarter. Amaya is backed by Canadian merchant bank Difference Capital Funding.
Canadian insurer Manulife Financial Corp., through its U.S. business division John Hancock Financial, has purchased Symetra Investment Services for an undisclosed amount. The broker-dealer/investment advisory company was sold by Symetra Financial Corp., a portfolio company of Canadian private equity firm CAI Private Equity. The transaction is expected to close within six months.
Toronto-based OnX Enterprise Solutions Inc., a provider of enterprise data center solutions, has acquired for an undisclosed sum Worknet Inc., a managed services company located in Chicago, Illinois. OnX has combined its own managed services operations with those of Worknet to create a new North America-focused business unit, OnX Managed Services. OnX has been majority owned by U.S. private equity firm Marlin Equity Partners since 2011.