Dublin-based buyout shop Cardinal Asset Management, with backing from the Carlyle Group and U.S. investor Wilbur Ross, is competing with Bancassurer Irish Life & Permanent to buy Ireland's largest building society, EBS, Reuters reported. The government recently injected 525 million euros ($704.3 million) into EBS, Reuters said. Ireland’s Minister of Finance now controls EBS, which before the financial crisis was owned by its members. Final bids for the building society are expected next week.
Billionaire investor Carl Icahn’s firm, Icahn Enterprises, will buy power producer Dynegy for $665 million in cash, Reuters reported. The deal comes after Dynegy rejected a $602 million bid from buyout shop Blackstone at the end of November. Dynegy's current debt stands at $3.95 billion, Reuters said. Goldman Sachs and Greenhill & Co advised Houston-based Dynegy on the deal.
Montreal-based Transforce has trumped a private equity bid for same-day delivery company Dynamex, agreeing to pay $248 million for the Dallas-based company, Reuters reported. With the acquisition, Transforce, a mid-tier trucking company, aims to tap U.S. markets. It offered $25 per share in cash for Dynamex. Private equity firm Greenbriar Equity Group had previously offered $24 a share, Reuters said.
Private equity firm Unitas Capital will pay an undisclosed amount for Dutch pump maker Hyva, providing an exit for Hyva's current owner, 3i Group, Reuters reported. Though terms of the deal were not released, previous valuations have estimated the deal at roughly $830 million, Reuters said. Hyva makes hydraulic components for industrial machinery, and generates the majority of its sales from China and India. Unitas Capital has offices in Hong Kong, Melbourne, Seoul and Shanghai.
The Riverside Co. has invested in G&H Wire Co. Financial terms were not announced. Franklin, Ind.-based G&H makes and supplies orthodontic products. Riverside Co. is a PE firm.
Trivest Partners said Tuesday that it has recapped AM Conservation Group. Financial terms were not disclosed. Charleston, S.C.-based AM Conservation supplies and designs energy and water conservation products. Trivest, of Coral Gables, Fla., is a private investment firm.
Azalea Capital has recapitalized KLMK Group, a Richmond, Va.-based provider of advisory services for healthcare firms. Financial terms were not announced. Azalea,| of Greenville, S.C., is an investment firm that targets middle market firms in the Southeast. Cobblestone | Harris Williams advised KLMK.
Canada's Vector Aerospace Group has attracted interest from potential buyers including Triumph Group, L-3 Communications Holdings and private equity firm First Reserve, Reuters reported. Analysts have estimated Vector's value at between $490 million and $550 million in a sale, Reuters said.
Newly formed buyout shop Ridgemont Equity Partners said it will acquire a majority stake in Unite Private Networks, a provider of high-capacity data communications networks. Financial terms of the deal were not released. Debt financing was arranged by the Royal Bank of Canada and included CoBank and Webster Bank. Charlotte, N.C.-based Ridgemont was formed in August 2010 and specializes in middle-market buyout and growth equity investments. Unite Private Networks is based in Kansas City, Mo.
Miami-based private equity firm H.I.G. Capital will pay $75.2 million in cash to buy Matrixx Initiatives, a producer of over-the-counter healthcare products. H.I.G. will pay $8 per share, which represents a 56.3% premium over the company’s closing price yesterday. Matrixx is based in Scottsdale, Ariz.