ING Corporate Investments has acquired a minority stake in Bright Computing. Financial terms weren't announced. Bright Computing is a specialist in cluster management software and services for high-performance computing. Bright Computing founded in Amsterdam and has its U.S. headquarters in San Jose. ING Corporate Investment is the PE unit of ING.
Swisher Acquisition, which is backed by Blackstreet Capital, said Monday that its has bought Swisher Mower & Machine Co. Warrensburg, Mo.-based Swisher Mower and Machine produces specialty lawn and garden equipment and ATV/UTV accessories. Blackstreet Capital is a PE firm from Chevy Chase, Md.
Australian medical diagnostics company Sonic Healthcare will buy private equity-backed CBLPath for an undisclosed amount. Stamford, Conn.-based private equity shop Galen Partners, which focuses on healthcare investments, owns more than 40% of CBLPath. The remainder of the company is held by management, staff and other private investors. The deal is expected to close before the end of the year. CBLPath is a national laboratory providing pathology services, and is based in Rye Brook, N.Y.
Publicly traded GT Solar International said that it will pay $203 million to buy back 26.5 million shares held by its private equity investors, which include Oaktree Capital Management. The company will pay $7.66 per share, a 13% discount to the company’s close on Friday. Following the close of the deal, Oaktree Capital will own about 9.4 percent stake in the company.
Avon Products will sell its Avon Japan business to private equity firm TPG Capital for 7.3 billion yen ($90 million) in cash. Avon currently owns 74.67% of the Japan business unit, and TPG plans to launch a tender offer in Japan for all outstanding shares of Avon Japan. Avon Japan represents less than 2% of New York-based Avon’s total sales, the company said.
Britain's Tesco and Singapore's Dairy Farm have put in second-round bids for the Southeast Asian assets of French retailer Carrefour, Reuters reported. The supermarket operator is selling its businesses in Malaysia, Singapore and Thailand. Reuters previously reported that private equity fund Navis Capital and Japanese retailer Aeon would bid for some of the assets.
Chemical company Ashland said it would sell its distribution business to TPG Capital for $930 million, Reuters reported. The unit - which distributes chemicals, plastics, and other materials across North America and Europe - accounted for more than 38% of Ashland’s fourth quarter revenue. The company is selling the business unit, however, as it shifts its focus to higher-margin specialty chemicals, Reuters reported. Ashland is based in Covington, Kentucky.
Buyout shop Doughty Hanson plans to buy Britain’s Vue Entertainment for 450 million pounds ($725.6 million), Reuters reported, citing an article in Monday’s Financial Times. The founders of Vue Entertainment – which runs Britain’s largest cinema chain – own 51% of the company. Private equity firm Coller Capital and New York-based hedge fund Och-Ziff own the remaining shares, which they both plan to sell to London-based Doughty Hanson, Reuters reported.
Lion Capital said late Thursday that it has agreed to buy the operating companies of Bumble Bee Foods, which is owned by Centre Partners Management. Financial terms were not announced. The deal is expected to close by year-end, a statement said. San Diego-based Bumble Bee Foods, which supplies shelf-stable seafood, is known for its Bumble Bee tuna and King Oscar Sardines. Centre Partners, with offices in New York and Los Angeles, is a PE firm. London-based Lion Capital is a consumer focused investment firm.
Palladium Equity Partners said Friday that it has completed the sale of Castro Cheese Co. to Dairy Farmers of America. Financial terms were not disclosed. Palladium is a PE firm from New York. Houston-based Castro Cheese makes and markets queso fresco and other varieties of Hispanic cheeses and creams.