H.I.G. Capital's European affiliate, H.I.G. Europe has acquired shares representing 49.99% of the capital of Vértice 360 Servicios Audiovisuales which was until now fully owned by Vértice 360º. The investment has taken place through a capital increase.
Westbrick Energy and Kohlberg Kravis Roberts & Co have closed on a C$75 million ($75.2 million) strategic investment in the company. KKR has committed C$175 million of equity capital for follow-on investments to support its continued growth through acquisitions and the organic development of its asset base, for a total potential investment of C$250 million.
Family Christian Stores, a specialty retailer of Christian products, has been acquired by a group of Christian investors. Middle market investment bank Harris Williams & Co advised on the transaction.
Kinderhook Industries has sold Home Health Care Holdings, parent company of Nurse on Call to Emeritus Corporation for $102.5 million. Emeritus is a provider of assisted living and memory care services. Nurse on Call has been a portfolio company of Kinderhook since 2005 and the realization represents a return on invested capital of over 5.0x, including prior distributions, for Kinderhook.
Marlin Equity Partners has acquired MicroSun Technologies, a Woodridge, IL-based designer of custom battery packs and energy storage solutions for portable electronics. MicroSun has been integrated with Palladium Energy, a Marlin portfolio company. No financial terms were disclosed.
Welsh, Carson, Anderson & Stowe, along with industry veterans Kristen Bratberg and John Rizzo, has formed U.S. Anesthesia Partners. Fort Lauderdale Fla.-based U.S. Anesthesia Partners is a single-specialty physician services organization focused on anesthesia and perioperative care. Bratberg will serve as CEO of U.S. Anesthesia Partners while Rizzo is president and chief development officer.
Tex Tech Industries was sold to ShoreView Industries. Financial terms weren't announced. Peninsula Capital Partners was the seller. Portland, Maine-based Texas Tech develops and makes engineered, high-performance materials for niche applications. BlackArch Partners, which advised Texas Tech, announced the sale Monday.
Advanstar Global has agreed to buy ENK International. Financial terms weren't announced. ENK organizes fashion events in New York, Las Vegas, Europe and Asia. Advanstar is backed by Anchorage Capital Group, Ares Management, and Veronis Suhler Stevenson.
Who will save Hostess Brands? That's the question that's been circulating among investors and media outlets. The 82-year old Hostess, which makes Twinkies, Ding Dongs, Ho Hos and Wonder Bread, is looking for a lifeline after filing with a U.S. bankruptcy court last week to go out of business. Hostess is firing more than 18,000 employees after a week long strike by its baker's union. Adding to the doom-and-gloom is a notice on the company's website that says, "Hostess Brands is Closed."
Australian surfwear company Billabong International, which had potential buyers withdraw takeover offers last month, said one of its directors wanted to investigate a possible leveraged buyout of the firm, writes Reuters. Private equity firms TPG and Bain Capital withdrew from $700 million bids for the struggling retailer, according to Reuters.