Veronis Suhler Stevenson has invested in Navtech. Financial terms weren't announced. VSS's investment came from its second structured capital fund, VSS Structured Capital II. Navtech, of Waterloo, Canada, provides flight operations software and tools for the commercial aviation industry. Veronis replaced Navtech's existing debt with its own, says Hal Greenberg, a VSS partner. Cambridge Information Group continues to be Navtech's majority and lead investor, he says.
Thoma Bravo looks like its getting back half of its investment in Deltek Systems in less than a year.
California investment firm StoneCalibre said on Monday that it has acquired Source Technologies from Liberty Partners. No financial terms were disclosed. Based in Charlotte, North Carolina, Source Technologies is a provider of laser printers, software and accessories for the banking sector. Berkery Noyes acted as the financial advisor to Source Technologies for this transaction.
B&G Foods said on Monday that it has entered into an agreement to acquire Pirate Brands from VMG Partners, Driven Capital Management, founder Robert Ehrlich and others for approximately $195 million in cash. The acquisition is expected to close in July 2013. Pirates Brand is a producer of all-natural snack foods.
Fox Technologies, a producer of access management and governance software, said on Monday that it has been acquired by southern California-based Parallax Capital Fund, L.P. a private equity fund managed by Parallax Capital Partners, LLC. No financial terms were disclosed. Fox Technologies is based in Mountain View, Calif.
Twin Rivers Paper Company, a provider of specialty packaging, said on Monday that Atlas Holdings and Blue Wolf Capital are now majority owners of the company. No financial terms were disclosed. Also, Adam Blumenthal, managing partner of Blue Wolf, Tim Fazio, managing partner of Atlas Holdings, and Twin Rivers’ CEO Tim Lowe have joined Twin River's board of directors. Twin Rivers has facilities in Edmundston and Plaster Rock, New Brunswick, and Madawaska, Maine.
NVM Private Equity has sold IG Doors, a manufacturer of composite external doors for the housebuilding industry, to the Hörmann Group, a family-owned German manufacturer of residential and industrial doors. The sale represents an IRR of 17.3 percent per annum and a money multiple of 3.3x on NVM’s original investment.
Dunedin has backed the management buyout of York headquartered Trustmarque Solutions, a provider of technology services and solutions to private and public sector organisations across the UK. The business was acquired from LDC.
Italian defense group Finmeccanica and private equity fund Cinven will get at least five offers for satellite propulsion system unit Avio Spazio, writes Reuters. French groups Safran and Thales, French-German consortium EADS and two unnamed operators from Germany and the United States will submit preliminary offers for the company by the end of June, business daily Il Sole said, writes Reuters.
OMERS Private Equity, the private equity investment arm of the OMERS pension plan, in equal partnership with Alberta Investment Management Corporation is to acquire Vue Entertainment from Doughty Hanson and management. Vue is an operator of modern multiplex cinemas in the United Kingdom, Ireland, Germany, Denmark, Portugal, Poland, Latvia, Lithuania and Taiwan. The transaction is expected to close by late July 2013.