High Road Capital Partners has completed its acquisition of Accurate Component Sales, the ninth platform company for its debut fund, High Road Capital Partners Fund I LP. Based in New Brighton, Minnesota, Accurate is a value-added distributor of industrial fasteners, hardware and components. U.S. Bank and Northstar Capital provided financing for the deal.
British retail billionaire Philip Green on Thursday sold a 25 percent stake in Topshop and Topman to U.S. private equity firm Leonard Green and Partners in a deal that values the popular high street chain at 2 billion pounds ($3 billion). Monaco-based Green said the deal would help the group expand the fashion chain globally and leaves both Topshop and Topman and the rest of his Arcadia Group with no bank debt and cash positive.
U.S.-based buyout firm General Atlantic agreed to pay 420 million reais ($200 million) for a 31 percent stake in XP Investimentos CCTVM SA, Brazil's largest independent brokerage, the companies said on Wednesday. XP, founded in 2001, boasts more than 70,000 retail investors and handles more than 20 billion reais ($9.6 billion) worth of trading each month.
One Equity Partners, the main private equity arm of JPMorgan, and Turkish army pension fund Oyak are vying to buy a stake in Turkish chemicals maker Akdeniz Kimya, sources told Reuters. Akdeniz Kimya, based in the Aegean coastal city of Izmir, produces speciality chemicals and is valued at more than $300 million. It was not clear how large a stake is up for sale.
Blackstone Group has dropped out of the bidding for Ingham Chickens as the asking price for Australia's largest chicken producer was too high, the Wall Street Journal reported on Thursday citing sources. Ingham, wholly owned by Bob Ingham, was seeking a valuation of around A$1.4 billion ($1.5 billion).
Shareholder Representative Services is trying something new this holiday season. SRS is unveiling AcqMan -- acq is short for acquisition--a game which tests players' knowledge of M&A. This is how it works: Users pick from six different AcqMan avatars that represent different deep-pocketed strategic buyers. Choices include Dell, Google, IBM, Microsoft, Oracle and Takeda.
Serent Capital has backed the Knowland Group, a provider of meeting and convention data, cloud based software and services for the hospitality industry. The company provides products and services to over 3,000 hotels in the area of group sales data, sales and catering software and outsourced value added services.
ABRY Partners IV, L.P and Oak Hill Capital Partners have sold all of the shares of Atlantic Broadband Group, a cable system operator, to Cogeco Cables. The transaction is valued at $1,360 million or 8.3x 2013E EBITDA. Cogeco is a Canada-based cable system operator.
Private equity firms vying for Merge Healthcare are waiting for a decision from the company after the provider of medical imaging software solutions sought revised takeover offers last week, writes Reuters. Thoma Bravo LLC, Thomas H. Lee Partners LP and Francisco Partners are the buyout firms that remain in the auction.
Charlesbank Capital Partners said late Wednesday that it has acquired OneStopPlus Group. Financial terms weren't announced. PPR, the Paris-based luxury and sport & lifestyle group, is the seller. Webster Capital is also investing. New York-based OSP is a catalog retailer and online marketplace for plus-size consumers. Michael O'Hara of Consensus Advisors provided financial advice to Charlesbank, while Peter J. Solomon Company acted as financial advisor to PPR.