Warburg Pincus looks like it will nearly triple its investment once it sells Bausch & Lomb to Valeant Pharmaceuticals.
Fidelity National Financial (FNF), a provider of title insurance and mortgage services, said on Tuesday that it has agreed to buy Lender Processing Services (LPS) for $33.25 per common share. The total equity value of the transaction is approximately $2.9 billion. FNF said it would pay half in cash and half in stock, subject to adjustment. Also, FNF will combine its ServiceLink business with LPS into a new holding company and is selling 19% to Thomas H. Lee Partners for about $381 million in cash. Jacksonville, Fla.-based LPS is a provider of technology, data and analytics to the mortgage and real estate industries.
Transplace said on Tuesday that it has been acquired by Greenbriar Equity Group LLC, a New York-based private investment firm. No financial terms were disclosed. The company was previously owned by an affiliate of CI Capital Partners and Transplace's management. Headquartered in Frisco, TX, Transplace is a provider of transportation services.
Propel Equity Partners said on Tuesday that it has acquired ALEX. No financial terms were disclosed. ALEX founders Nurit and Rick Amdur will remain with the company, while Fred Keller, president of POOF-Slinky, a portfolio company of Propel Equity Partners, will become president of ALEX. Based in Northvale, New Jersey, ALEX is a producer of children's toys.
Littlejohn & Co., LLC, a private investment firm based in Greenwich, CT, said on Tuesday that it has made an equity investment in Gulf Coast Shipyard Group. No financial terms were disclosed. Also, John Dane III , president and CEO of Gulf Coast Shipyard Group, will continue to lead the company; however, Felix S. Sabates Jr. will step down as the company chair to become an advisor and consultant to the company. Based in Gulfport, Mississippi, Gulf Coast Shipyard Group, which is the parent company of TY Offshore and Trinity Yachts, is a provider of commercial vessels.
Club Mediterranee's top shareholders--which include Fosun International and AXA Private Equity-- plan to take over the French holiday firm in a bid that values it at around 541 million euros ($700 million), to accelerate its shift to fast-growing emerging markets, Reuters reports.
Proxy advisory and research firms Institutional Shareholder Services Inc. and Glass Lewis & Co. have recommended that clients who are shareholders in IT solutions provider Softchoice Corp. vote in favour of Birch Hill Equity Partners' previously announced acquisition of the company for $412 million. The take-private deal has already been recommended by the Toronto-based Softchoice's board of directors, and it will be submitted to a special shareholders meeting in June.
Teine Energy Ltd., a Calgary-based oil and gas company focused on finding and developing high net-back, large hydrocarbon in place properties in Western Canada, has obtained a US$300 million senior secured second lien loan. Proceeds will be used to refinance the company's revolving credit line, fund a drilling program and for general corporate purposes. Tiene Energy is majority owned by Canada Pension Plan Investment Board, an investor in the company since 2010.
Canadian mid-market private equity firm Fulcrum Capital Partners has made an equity investment in Nilex Civil Environmental Group, an Edmonton, Alberta-based provider of environmentally-friendly construction materials, technologies and services to the civil, resource and environmental industries. The value of the equity investment was not published.
Energy Capital Partners has closed its buy of EnergySolutions. Salt Lake City-basd EnergySolutions, which provides nuclear commercial services, announced in January that it would merge with an Energy Capital subsidiary a deal valued at $1.1 billion or $3.75 a share. Energy Capital raised that offer to $4.15 a share in April.