Morgan Creek Capital Management said on Tuesday that it will buy Signet Capital Management's Alternative Funds business. No financial terms were disclosed. Under current management, Signet's Alternative Funds has approximately $700 million in assets. As part of the acquisition, the senior management team at Signet, which include Founder Robert Marquardt, and CEO Dr. Serge Umansky, will join Morgan Creek and continue their current roles. Signet Capital Management Ltd. is a European institutional fixed income investment firm.
Graycliff Partners said on Tuesday that Iron Mountain, an information management and storage provider, has bought Information Storage Consolidation Company (ISCC). No financial terms were disclosed. Information Storage Consolidation is a records storage company with facilities in Texas, Michigan and Florida. Prior to Iron Mountain's acquisition, Graycliff had a majority stake in ISCC.
KPS said Monday it has agreed to buy the specialty paper business of Wausau Paper Corp. The PE firm is also buying the specialty paper business of Packaging Dynamics Corp., which is known as Thilmany. The acquisitions are expected to close in second or third quarter. Goldman Sachs & Co. and GE Capital Markets are acting as lead arrangers for debt financing.
The Novo Group has acquired Xellia Pharmaceuticals for about $700 million. The sellers are 3i and other Xellia shareholders. Xellia, of Oslo, Norway, is a specialty pharmaceutical company focused on anti-infective products.
Seven West Media Ltd, owner of Australia's top-rated free-to-air television network, said on Tuesday that its major shareholder private equity firm KKR & Co had sold its entire A$260 million stake in the company, Reuters is reporting.
European Capital Limited has invested 4 million euros ($5 million) in mezzanine bonds to support the acquisition of Precisium Group by a company controlled by Alliance Industrie's shareholders. European Capital first invested in Alliance Industrie in December 2006. Founded in 1989, Paris-headquartered Alliance Industrie purchases and distributes spare parts for automotive and commercial vehicles in France and in the UK.
Pactera Technology, a global consulting and technology services provider in China, said on Monday that its board has received a "going private" proposal to acquire all shares of Pactera from Blackstone and the company's management. The bid is valued at $7.50 per American Depositary Share in cash. Reuters is valuing the deal at $680 million. Blackstone is acting as advisor for the proposal while Citigroup Global Markets is serving as financial advisor to Pactera's executive team.
Wausau Paper said Monday it has agreed to sell its specialty paper business to KPS Capital Partners. KPS previously announced it was buying the specialty paper business of Packaging Dynamics Corp. KPS plans to combine this business with the Wausau unit and create a new company that will be called Expera Specialty Solutions. The sale will result in net cash proceeds to Wausau Paper of approximately $110 million.
Specialty chemicals producer Rockwood Holdings Inc's pigments businesses have attracted offers from buyout firms including Blackstone Group LP and Advent International Corp, several sources told peHUB.
AltaGas Ltd., a Calgary-based energy infrastructure business, has completed its previously-announced buy of Blythe Energy LLC, which owns a 507 megawatt natural gas-fired plant as well as a 67 mile electric transmission line in Southern California. The acquisition was priced at US$515 million. Blythe Energy was a portfolio company of New York-based LS Power Equity Advisors, a private equity investor in the energy and power industry.