Turkey's Cukurova Holding is in talks with private equity firms Kohlberg Kravis Roberts & Co. and Texas Pacific Group to sell up to 49% of its television channel Show TV, Reuters reported. Cukurova is selling the stake to finance tax debts. Show TV is valued at $800 million minimum, with a valuation that could rise above $1 billion based on a multiple of 12 times earnings, Reuters said.
1 min read · 18 May 2011
Engineering and project management company AMEC will pay $280 million to buy Alpharetta, Ga.-based engineering and environmental services company MACTEC. MACTEC has roughly 2,600 employees, and provides so-called earth and environmental services, including environmental planning, assessment and remediation, infrastructure engineering, water resources and construction support. The combined earth and environmental business will be headquartered in Alpharetta and led by AMEC’s Hisham Mahmoud.
2 min read · 18 May 2011
Middle-market buyout shop Ridgemont Equity Partners has acquired a majority stake in Gallus Biopharmaceuticals, a biologics contract manufacturing company based in St. Louis, Mo. Terms of the deal were not disclosed. Ridgemont Equity Partners is a Charlotte, N.C.-based private equity firm.
3 min read · 18 May 2011
Martinrea International Inc. has teamed up with Anchorage Capital Group to buy the assets of Honsel AG, a German-based supplier of aluminum components for the automotive and industrial sectors. Martinrea and Anchorage will pay 101 million euro ($139 million) in cash, and the balance in assumed liabilities. The deal is expected to close in July. Martinrea will own 55% of the entity purchasing Honsel, with Anchorage owning the remaining 45%. Martinrea's cash contribution to the purchase price will be approximately $77 million, and will be funded from credit funding sources arranged by Martinrea.
5 min read · 18 May 2011
Netik, a company backed by private equity investor Symphony Technology Group, has acquired CorrectNet, a provider of managed client communications and delivery services and technology. Symphony Technology Group provided an undisclosed amount of capital to support this transaction. The companies did not reveal any financial terms of the deal.
4 min read · 18 May 2011
Clinical consulting and commercial services firm inVentiv Health, which is backed by Thomas H. Lee Partners and Liberty Lane Partners, said that it will acquire drug development services firm PharmaNet Development Group. Terms of the deal were kept under wraps. BofA Merrill Lynch, Citi and Jefferies Finance provided financing commitments to inVentiv Health to support the transaction.
4 min read · 18 May 2011
Energy Investors Funds has snagged a remaining 20% interest in Calypso Energy Holdings, and now owns 100% of the company. Calypso Energy is a portfolio of 12 power generation projects, and Energy Investors Funds initially bought an 80% stake in the company in late 2007. Terms of the latest deal were not released.
2 min read · 18 May 2011
Private equity investor Leeds Equity Partners will acquire Nobel Learning Communities Inc. in a deal valued at about $149 million. Under the terms of the deal, Nobel stockholders will receive $11.75 in cash per share, a premium of 36% over the company's closing price Tuesday. Nobel Learning is an operator of private preschools, elementary and middle schools and K-12 online distance learning. Leeds Equity is a New York-based private equity firm focused on investing in the education, training and information services industries.
4 min read · 18 May 2011
Clearlake Capital Group said Wednesday that it has recapitalized Mycom Group Limited, and added a “significant capital infusion” to help the company expand. Financial terms of the deal were not released. Mycom is a provider of wireless engineering services and OSS Service Assurance software to the telecom industry. Clearlake’s Behdad Eghbali, José Feliciano and Arta Tabaee have joined the company’s board.
3 min read · 18 May 2011
London-based buyout shop Piper has exited its majority stake in UK-based soft drink maker Bottlegreen Holdings Limited, selling the company to Irish food group SHS. Piper said Wednesday that it inked a 5x multiple on its four year investment in Bottlegreen. The firm poured 5 million pounds into Bottlegreen in 2007. Piper was advised by KPMG and Bond Pearce. SHS was advised by Grant Thornton and McGrigors.
3 min read · 18 May 2011
