Earlier this week, I reported that Angelica had opted to dump a planned dividend in favor of an acquisition. Today, officials for Angelica said they have completed a deal for Texas Linen Co. Karl Schulte, Texas Linen's CFO, confirmed to me that the deal closed last Friday. Financial terms were not disclosed.
Maranon Capital said Thursday that it has provided mezzanine debt and equity to support Brockway Moran & Partners's buy of DayMen Photo Marketing. Maranon, of Chicago and Birmingham, Mich., offers senior financing, mezz and equity co-investments for PE-backed and non-sponsored middle market companies. Brockway Moran, a PE firm, announced the DayMen Photo acquisition in October.
KANA Software, which is backed by Accel-KKR, has closed its buy of Lagan Technologies. Financial terms weren't disclosed. Belfast, Northern Ireland-based Lagan provides software to governments while KANA, of Sunnyvale, Calif., offers software that helps companies hold conversations with their customers via phone, email, chat, and web. Accel-KKR is a tech focused PE firm.
Bausch + Lomb, a portfolio company of Welsh Carson, has named three executives to management positions in its surgical business. Brad Paddock was hired as vice president of sales. Anthony Sine was appointed vice president of business development and Elisabeth Sandoval was named vice president of global marketing. Bausch is an eye care company from Aliso Viejo, Calif. New York-based Welsh Carson is a PE firm.
Spencer Pharmaceutical said Thursday that it has received an all-cash offer from a PE firm. Spencer's board has agreed to keep the offer confidential until an investment bank reviews the offer, conducts appropriate due-diligence and recommends a course of action. Boston-based Spencer develops drug release and absorptions systems to treat metabolic diseases like diabetes and metabolic syndrome.
Private equity firm Warburg Pincus has acquired International Technidyne for $55 million in cash, and has merged the company with clinical diagnostics company Nexus Dx. International Technidyne, based in New Jersey, provides hemostasis management and point-of-care testing products. Nexus Dx is based in San Diego, Calif.
Private equity firms The Carlyle Group and Kelso & Co. are buying a minority stake in privately held investment bank Sandler O’Neill, Reuters reported. The financing, terms of which were not released, is designed to fund growth. The deal will close at the end of 2010, Reuters said.
Publicly traded Windstream Corp. will pay $310 million for Raleigh, N.C.-based Hosted Solutions, providing an exit for private equity shop ABRY Partners. Boston-based ABRY bought Hosted Solutions in 2008 for roughly $140 million. Hosted Solutions is a Raleigh, N.C.-based provider of data center and managed web services.
Wal-Mart Stores may enter the race for Indonesisan retailer Matahari’s hypermarket business, Reuters reported. Reuters said earlier this week that private equity giant The Carlyle Group and South Korea’s Lotte Shopping had both put in bids for the chain of retail shops. It’s unclear if Wal-Mart put in a formal offer, but Reuters reported that the company has hired Barclays Capital to advise it on the deal, which could reach as high as $1 billion.
Oakley Capital Private Equity has acquired an 84% stake in UK-based BDO Investment Management Ltd. from it’s parent company BDO LLP. The deal values the subsidiary at 14 million pounds ($22.6 million). Financial terms of the acquisition were not released. BDO Investment has more than 200 employees and offices across the UK.