AMETEK has acquired Micro-Poise Measurement Systems, a provider of integrated test and measurement solutions for the tire industry, from American Industrial Partners for approximately $170 million in cash. Micro-Poise is headquartered in Streetsboro, OH, and has additional manufacturing operations in Troy, MI; Beijing, China; and Lubeck, Germany.
JH Partners has acquired a stake in Alex and Ani, a lifestyle brand and specialty retailer. Financial terms were not disclosed. The business headquarters are located in the Greater Providence, Rhode Island area.
Private equity firm CVC Partners has hired CIMB, Morgan Stanley and UBS to sell a stake in Indonesian group PT Matahari Department Store, sources told Reuters. CVC is looking at a deal that would value the whole company at more than $2 billion, having paid less than half that 2-1/2 years ago, one of two sources with direct knowledge of the matter told Reuters on Tuesday.
Cleveland-based private equity firm Resilience Capital Partners has acquired Advanced Communications Inc. through its newly-formed entity, Aero Communications. ACI is Resilience Capital Partners' first acquisition in the infrastructure services industry and its fifth platform investment in The Resilience Fund III, L.P. Terms were not released.
American Petroleum Tankers, the shipping company that has alleged US government discrimination because of its private equity ownership, said it would order two new tankers should its $340 million loan guarantee application be approved, writes Reuters. APT, controlled by Blackstone Group, is trying to reverse a rejection of its financing application by the Maritime Administration at a time when private equity has been thrust into the spotlight as a result of Bain Capital co-founder Mitt Romney's candidacy for president of the United States, writes Reuters.
A private equity firm founded by Chinese billionaire Yu Yong has gone hostile with its A$824 million ($850 million) takeover bid for Australia's Discovery Metals, writes Reuters. The decision to go hostile after Discovery's surprise rejection of an initial bid has bolstered expectations that resource-hungry Chinese firms will seek more acquisitions in the sector, especially among companies that have promising projects in emerging markets, writes Reuters.
US private equity investor FLAG Capital Management is to buy Squadron Capital Advisors, an Asian private investment firm with $1.5 billion in assets controlled by the founder of Duty Free Shopping outlets Robert W. Miller, writes Reuters. The deal, set to be the first acquisition of a fund of funds in Asia's private equity industry, is expected to involve Squadron's team of around 23 people, including chief executive David Pierce, staying on board, writes Reuters.
NXT Capital said Monday it provided an $84 million senior secured facility to fund Blue Point Capital Partners’ buy of Smith-Cooper International. Last week, Blue Point announced it was buying Smith-Cooper, of Commerce, Calif., a distributor of pipe, valves and fittings.
CID Capital said Monday it has exited its investment in GT Exhaust. The buyer is Industrial Acoustics Co., a portfolio company of AEA Investors. Financial terms weren't announced. Lincoln, Neb.-based GT provides sound and emissions control solutions to the North American energy, power and heavy transportation industries.
Lightyear Capital has agreed to take a controlling stake in Cooper Gay Swett & Crawford Limited. Financial terms weren't announced. The deal is expected to close in fourth quarter. London-based Cooper Gay is a global wholesale insurance and reinsurance broker.