Private equity firms KKR & Co LP, Warburg Pincus LLC and Cinven Ltd are weighing bids for PRA International, a clinical research group, which is for sale and could fetch as much as $1.3 billion, sources told Reuters.
Emerald Oil said Tuesday it completed the sale of 2.79 million shares to White Deer Energy for about $16.2 million. Emerald Oil, of Denver, is focused on acquiring acreage and developing wells in the Williston Basin of North Dakota and Montana.
Riverside Partners has completed an investment in BioAgilytix Labs. Financial terms weren't announced. Research Triangle Park, N.C., BioAgilytix provides outsourced laboratory services to the pharmaceutical, biotechnology, and agriculture industries.
U.S. private equity firm The Blackstone Group might be a bidder for U.K.-based Rio Tinto PLC's majority stake in Iron Ore Company of Canada (IOC), reports Reuters. Sources "with knowledge of the situation" said Rio Tinto values the Montréal-based IOC, an iron ore producer and supplier of iron ore pellets and concentrate, at around US$8 billion, and is seeking between US$3.5 billion and US$4 billion for its equity position. Another potential bidder may be Glencore Xstrata PLC, the Switzerland-based company formed via a merger earlier this year.
N. Harris Computer Corp., a subsidiary of Toronto software company Constellation Software Inc., has acquired Reston, Virginia-based QuadraMed Corp., a provider of clinical, financial, and health information management software solutions for hospitals and hospital networks. The seller in the undisclosed deal was U.S. private equity firm Francisco Partners, which bought QuadraMed in 2010. Constellation is a portfolio investment of OMERS Private Equity, which has backed the company since 2000.
Golden Gate Capital has completed its buy of Springs Window Fashions. Financial terms were not announced. The sellers include Heartland Industrial Partners and interests of the Close Family. Middleton, Wis.-based Springs makes and sells custom and stock window coverings and drapery hardware to retail and commercial customers. BofA Merrill Lynch served as financial advisor to Golden Gate Capital. J.P. Morgan was the financial advisor to Springs. Bond financing for the transaction was led by J.P. Morgan Securities and BofA Merrill Lynch, with GE Capital providing a new ABL facility.
The Blackstone Group is in advanced talks to buy a business park in India's financial capital Mumbai for about 10 billion rupees ($176 million), Reuters reported.
The sale of SoftLayer Technologies to IBM for a reported $2 billion could be a windfall for GI Partners, which acquired the company in 2010.
Carlyle Group LP's aerospace communications firm Arinc Inc has drawn early takeover interest from industry conglomerates and private equity firms in an auction that may fetch between $1.3 billion and $1.4 billion, Reuters reported.
Legislation that would ease leverage constraints on business development companies has started a rare public controversy within the BDC community, a group that lends to sponsor-backed businesses with annual revenue of less than $500 million.