Oak Hill Capital Partners will sell Primus International to Precision Castparts Corp. for $900 Million, the firm announced. Bellevue, Washington-based Primus is a manufacturer of aerospace components. Oak Hill Capital bought the company in 2006. The deal is expected to close during the third quarter.
2 min read · 11 July 2011
Buyout shop Doughty Hanson is interested in buying Synovate, the market research unit of British marketing company Aegis, Reuters reported, citing a story in the Sunday Telegraph. Wyvern Partners is acting as financial advisor to the firm, Reuters said. Aegis had said last week that it was in talks with French group Ipsos about a sale. The Telegraph reported that Aegis was close to selling Synovate to Ipsos for about 520 million pounds ($835 million).
2 min read · 11 July 2011
Luggage maker Samsonite upped its Hong Kong initial public offering by $46 million to nearly $1.3 billion, after underwriters exercised an option to sell additional shares, Reuters reported. Private equity backer CVC Capital Partners sold an additional 15.63 million shares, reducing its stake in Samsonite to 28.7 percent from 29.8 percent, Reuters said. Samsonite and its backers, including firm CVC, raised $1.25 billion with the offering last month.
1 min read · 11 July 2011
Chinese hypermarket operator Sun Art Retail Group raised $1.1 billion after pricing its Hong Kong initial public offering at the top of an indicative range, Reuters reported Friday. The company is only the second $1 billion-plus Hong Kong IPO this year, after MGM China. As part of the IPO, Sun Art sold $420 million shares to private equity investors, including General Atlantic and Hillhouse Capital Management, which invested $70 million a piece. Buyout shop Arisaig Partners and an affiliate of Bain Capital and French fund manager Carmignac Gestion also invested $40 million each, Reuters wrote.
4 min read · 08 July 2011
Marks and Spencer Group plc has added Manvinder Banga to its board as a non-executive director, effective September 1. Banga is currently an operating partner with Clayton Dubilier & Rice. Earlier in his career he worked in various positions with Unilever plc, including president of the global foods, home and personal care businesses and a member of the Unilever executive board.
2 min read · 08 July 2011
Provo, Utah-based Die Cuts With a View, a portfolio company of H.I.G. Capital, has acquired of the assets of Blue Moon Beads. Blue Moon Beads is a designer and supplier of jewelry-making products. Die Cuts With a View is a supplier of paper crafting products, vinyl wall art and other decorative products. The acquisition allows the company to expand its reach into other markets.
2 min read · 08 July 2011
Apollo Global Management has agreed to buy Gulf Stream Asset Management, which manages a portfolio of Collateralized Loan Obligations and has more than $3 billion under management. The deal is expected to close during the third quarter. Terms were not released. Gulf Stream Asset Management is based in Charlotte, N.C., with offices in New York.
3 min read · 08 July 2011
Epyon Power, which is backed by Vancouver-based Chrysalix Energy Venture Capital, will be acquired by power and automation technology company ABB, the venture firm announced Thursday. Terms of the deal were not released. Epyon develops battery charging products and services for electric vehicles.
3 min read · 08 July 2011
Buyout firm Ratos will sell Medisize to Phillips Plastics Corp. for approximately 99.8 million euros ($142 million). Ratos will generate a gain of about $6.3 million, and an IRR of about 4%, the firm said in a statement. Medisize is a contract manufacturer specialized in medical devices for delivery and administration of drugs and pharmaceutical packaging. The company is based in Vantaa, Finland.
2 min read · 08 July 2011
Private equity firm Paine & Partners said that it will buy Scanbio Marine Group, producer of fish protein concentrate, fish meal and fish oil, from its parent company Scanbio AS. Scanbio AS is owned by Rolf Eide, Per Arne Eide, Nordic secondary direct fund Verdane Capital IV and other shareholders. Terms of the deal were not released. Scanbio is based in Trondheim, Norway.
4 min read · 08 July 2011
