Sterling Investment Partners has closed the acquisition of Service Logic through the acquisition of MSHC. Service Logic is a US provider of preventive and predictive maintenance services and related energy sustainability services for heating, ventilation and air conditioning systems. Credit Suisse’s Customized Fund Investment Group co-invested with Sterling, GE Capital led the senior credit facility and Babson Capital and PNC Erieview Capital provided subordinated debt for the transaction.
Funds managed by CapMan and Rautaruukki Corporation (Ruukki) have agreed to combine units of Komas and Ruukki's Engineering division to form a new company through an asset deal. The new company is called Fortaco and is a Europe-based system and component manufacturer for the mechanical engineering industry. CapMan invested in Komas in 2007 and owns 82 percent of the company's shares.
Q.E.P., a Boca Raton, Fla.-based hardwood flooring and related products maker maker, has bid for substantially all of the assets of Harper Brush, a 112-year-old maker of cleaning products that is based in Fairifield, Iowa. The proposed purchase price to acquired all of Harper Brush's real estate, inventory, intellectual property and other assets is approximately $2.2 million.
Accel-KKR has taken a majority stake in supply chain execution software company Accellos Inc. Terms of the deal were not released.
Private equity firm Mid Europa Partners is to buy Eastern European laboratory diagnostics company Alpha Medical from Czech private equity group Penta Investments, writes Reuters. Mid Europa, which is focused on Central Europe and Turkey, did not say in the statement how much it would pay for Alpha Medical, which operates 50 labs across Slovakia, Poland and the Czech Republic, writes Reuters.
Japanese financial services firm Orix Corp and Australian bank Macquarie Group Ltd have emerged as leading candidates to buy the asset management arm of Dutch bank Rabobank, Robeco, writes Reuters. The Netherlands-based retail bank also received bids from a private equity consortium of Advent International and CVC Capital Partners and Boston-based asset manager AMG partnered with buyout firm Permira, Reuters previously reported.
Ares Commercial Real Estate Corporation has closed a $36 million first mortgage loan commitment collateralized by a Class A office building located in Cincinnati’s central business district. The proceeds of the loan were used to refinance the existing mortgage on the property. The initial funding amount is approximately $27 million with $9 million in loan proceeds available to be drawn over time to fund tenant improvements and leasing commissions.
Operations-focused private equity firm Industrial Opportunity Partners of Evanston, Ill. has completed the sale of portfolio company Gulf Coast Machine & Supply Company to Altus Capital Partners. The exit represents IOP’s third investment realization from its initial $185 million committed fund.
Pan Am Education has completed a deal with a Pivotal Group affiliate of Phoenix, Arizona. As part of the transaction, private equity and real estate investment firm Pivotal Group will own a majority interest while Pan Am founding management will maintain a stake in the company and continue day-to-day operations. Transaction funds will be used for growth and international expansion.
Flexpoint Ford said Monday that it has sold its majority stake in Home Solutions Holdings to KRG Capital Partners. Financial terms weren't announced. Northfield, N.J.-based Home Solutions provides specialty infusion pharmacy services. Cain Brothers provides financial advice to Home Solutions.