ProSiebenSat.1 has attracted three offers worth more than 1.3 billion euros ($1.7 billion) for its Nordic TV channels, which may help to reduce the group's debt, writes Reuters. The bidders are private equity firms Nordic Capital and Providence Equity Partners as well as cable network Discovery Communications.
Gibson Energy has closed its buy of OMNI Energy Services Corp. in a deal valued at $445 million. Wellspring Capital Management was the seller. Carencro, La.-based OMNI provides environmental and production services to the oil and gas industry. BlackArch Partners advised OMNI. PRESS RELEASE BlackArch Partners is pleased to announce the closing of the sale […]
Clayton, Dubilier & Rice has closed its $395 million buy of Wilsonart International Holding, which was formerly known as Illinois Tool Works’ Decorative Surfaces business. The deal was announced in August. ITW retains a stake. Wilsonart's business units make and distribute high pressure laminates that are used in furniture, office and retail space, countertops, worktops and other applications.
PNC said Wednesday that it provided $25 million in senior secured revolving credit to support Watermill Group's buy of Superior Tube Company and Fine Tubes. PNC said its revolving credit facility was combined with a term facility from another lender to support Watermill's acquisition of the manufacturers. Financial terms were not announced. Fine Tubes, of the U.K., makes metal tubes used in the aerospace, medical, chemical process and oil and gas industries. Collegeville, Pa.-based Superior Tube makes small diameter metal tubes used primarily in the nuclear, aerospace, medical and durable goods industries.
AEA Investors has backed hydraulic cylinder manufacturer Swanson Industries. AEA will provide resources to expand and invest in Swanson’s existing facilities while also taking advantage of the growth opportunities available to the company.
Best Busy Co canceled an analyst meeting it had planned to hold in New York this week as the city tries to recover from storm Sandy, postponing chief executive Hubert Joly's opportunity to tell investors how he plans to turn the company around, writes Reuters. No new date has been set for the meeting, which had been scheduled for Thursday.
The Las Vegas-based footwear maker USA Dawgs has completed a round of growth capital financing round, a transaction on which the Peakstone Group, an investment bank focused on the middle market, served. Terms of the transaction were not disclosed.
CVC Capital Partners, the London-based private equity firm, has announced that its chairman, Michael Smith, will retire in January. Smith will be succeeded by Donald Mackenzie, Rolly van Rappard and Steve Koltes, who will act as co-chairmen of the group.
ViiV Healthcare, based in London, and Shionogi & Co., based in Osaka, Japan, are revising their relationship. Under the new agreement, ViiV Healthcare will acquire the exclusive global rights to the Shionogi-ViiV Healthcare LLC joint venture assets.
CVTech Group announced this week that it has spun off its CVT systems and related products segment in an MBO. The buyers, including management and Fondation, paid a total of $17.3 MM.