Arclight Capital Partners, a Boston-based private equity firm, has acquired a 9.9 percent stake in Enogex, a subsidiary of OGE Energy Corp that deals with midstream natural gas pipelines. The deal will cost $183 million and is expected to be completed by November 1, 2010.
Marathon Oil Corp has agreed to sell most of its refining and marketing assets in Minnesota to ACON Investments and TPG Capital. The two private equity firms will buy the St. Paul Park refinery (which produces 74,000 barrels per day), 166 SuperAmerica convenience stores, interests in pipeline assets in Minnesota and associated inventories for about $900 million.
Imperial Capital Corporation, a Toronto-based private equity firm, has bought Petra Pet, Inc, a New Jersey manufacturer of dog treats. BMO Capital Corporation provided subordinated debt and equity capital in support of the acquisition and BMO Bank of Montreal provided senior debt facilities. The details of the transaction were not released.
Wilmington Trust Corp, a Delaware bank set up by the du Pont family, is looking for private equity investment, according to news reports. If the bank cannot raise more capital, it may try to sell itself.
GLENTEL Inc, a Canadian telecommunications company, has bought wireless internet provider Diamond Wireless, a portfolio company of Unique Investment Corporation. Unique is a private equity firm based in Huntington Beach, California. Harris Williams & Co. advised Diamond. The terms of the deal were not released.
KANA Software, a California-based software company, has entered into a definitive agreement to acquire Lagan Technologies, a Northern Ireland-based software firm that focuses on government-to-citizen technology. KANA is backed by Accel-KKR, a technology-focused private equity investment firm. The terms of the transaction were not disclosed.
Advantage Partners, a Japanese private equity firm, is seeking an investor for Tokyo Star Bank to help it repay funds it borrowed to buy the bank, according to Reuters. The buy-out firm borrowed 169.6 yet ($2.04 billion) in senior and mezzanine loans to buy the bank, with the senior loans, worth 124.6 billion yen ($1.49 billion), arranged by Merrill Lynch and due in 2013. Advantage has hired Nomura Holdings Inc to find an investor.
Private equity firm Warburg Pincus has invested $150 million in National Penn Bancshares, Inc, through the purchase of newly issued common stock at $6.05 per share, the bank announced. Warburg Pincus will initially invest $63.3 million, the rest following after regulatory approval, which should be granted in the fourth quarter of 2010.
The Taiwanese broadcast regulator has delayed its decision on private equity firm Carlyle Group’s proposed sale, for $1.17 billion, of its Taiwan cable TV unit, Kbro. The regulator cited concerns over competition issues, according to Reuters. The Tsai family, owners of Taiwan Mobile, had agreed to buy the station, but already own some cable TV operations.
Welsh, Carson, Anderson & Stowe, a private equity firm, has closed its buy of Peak 10. As part of the deal, Peak 10 has closed on a $155 million credit facility. Charlotte, N.C.-based Peak 10 is a data center operator.