Luisa Beltran

Apollo commits another $700 mln to Catalina Holdings

Catalina Holdings said Oct. 11 that Apollo Global Management has committed an additional $700 million in equity capital. Apollo, with the deal, has a majority of Catalina while RenaissanceRe Holdings Ltd has a minority. Apollo initially invested in Catalina December 2013. In 2017, Apollo acquired a majority of Catalina, a consolidator in the non-life insurance/reinsurance run-off sector. Perry Shwachman and Fatema Orjela of Sidley Austin advised Apollo.

PE HUB Wire Highlights, 10.11.18

Kainos to exit SlimFast in $350 mln sale; Butterfly Equity operating partner named as potential bidder in Campbell Soup divestiture; Why SPACs are in vogue with investors

Palladium Equity to buy Kymera from Platinum Equity

Palladium Equity Partners has agreed to buy Kymera International from Platinum Equity. Financial terms weren’t announced. Kymera, of Research Triangle Park, North Carolina, is a group of company that produce specialty materials, powders, pastes and granules used in a wide range of metallurgical, chemical and industrial processes.

Centerfield invests in EMPI

Centerfield Capital Partners has invested in EMPI. Financial terms weren’t announced. EMPI, of Anaheim, California, makes and distributes branded automotive aftermarket parts for vintage Volkswagen vehicles, modern Volkswagen vehicles, and other vehicle brands.

Smith named executive chairman of Toshiba Memory

Toshiba Memory Corp said Oct. 11 that Stacy J. Smith was named executive chairman, effective on October 1. Smith previously spent three decades at Intel, where he was president, manufacturing, operations and sales, from 2016 to 2018. An industry consortium led by Bain Capital acquired Toshiba Memory in June.

H.I.G. BioHealth closes $220 mln HyperBranch Medical sale

H.I.G. BioHealth Partners, the healthcare investment affiliate of H.I.G. Capital, said Oct. 11 that closed the sale of it HyperBranch Medical Technology Inc to Stryker Corp for about $220 million. HyperBranch develops medical devices. Cooley LLP represented HyperBranch in the transaction.

ITRenew buys ESISO

ITRenew Inc, a portfolio company of ZMC, has closed its buy of ESISO LLC. Financial terms weren’t announced. ESISO, of Los Angeles, specializes in enterprise asset acquisition, remarketing and remanufacturing of enterprise assets. Sidley Austin LLP acted as legal adviser to ITRenew. Covington Associates and DLA Piper LLP advised eSISO.

Kainos to exit SlimFast in $350 mln sale

Kainos Capital said Oct. 11 that it agreed to sell SlimFast to Glanbia plc in a transaction valued at $350 million. The deal includes SlimFast's sister company, HNS. SlimFast, of Palm Beach Gardens, Florida, provides nutritional products, including weight management and health and wellness products. Harris Williams and Sawaya Partners served as financial advisers to SlimFast, while Winston & Strawn acted as legal counsel.

PSP Investments sells stakes in Forth Ports

The Public Sector Pension Investment Board said Oct. 11 that it closed the sale of minority stakes in Forth Ports Ltd to GLIL Infrastructure, First State Super, and Construction and Building Unions Superannuation. Financial terms weren’t announced. Forth Ports, of the U.K., is multimodal ports owner and operator.

VELUX to buy JET-Group

VELUX A/S said Oct. 11 that it agreed to buy JET-Group from Egeria. Financial terms weren’t announced. JET-Group, of Hüllhorst, Germany, is a provider of industrial roof light systems.