Luisa Beltran

Onex, Baring Private Equity to buy Thomson Reuters IP&S for $3.55 bln

Onex Corp and Baring Private Equity Asia said July 11 that they have agreed to buy the Intellectual Property & Science business ("IP&S") of Thomson Reuters for $3.55 billion. The deal includes an equity investment of about $1.6 billion for 100% ownership of IP&S. Onex’s portion is $1.2 billion, which will come from Onex Partners IV and certain LPs. Philadelphia-based IP&S is a collection of subscription-based businesses that includes Web of Science, Thomson CompuMark, Thomson Innovation, MarkMonitor, Cortellis and Thomson IP Manager. The company employs 4,100 people across more than 75 offices in over 40 countries. Latham & Watkins LLP is serving as legal advisor to Onex and Baring Asia on the transaction.

Timko joins Finstar Financial

Finstar Financial Group said July 11 that Eugene Timko has joined the private equity firm as Investment Director, while Michele Tucci was named Head of Mobile Products and Business Development, and Alexander Ivanov was appointed to develop venture capital investments.

Svoboda Capital Partners sells Cape Electrical Supply

Graybar Electric Company Inc has acquired Cape Electrical Supply LLC. Svoboda Capital Partners LLC was the seller. Financial terms weren’t announced. Cape Girardeau, Missouri-based Cape Electrical is a regional distributor serving electrical contractors and large engineering construction firms, as well as industrial, institutional and utility customers. BB&T Capital Markets provided financial advice to Cape Electric.

Preqin: LPs not too worried about Brexit, say hedge funds will benefit most

Caretta Partners invests in cSuite

Caretta Partners LLC has invested in cSuite. Financial terms weren’t announced. cSuite provides a "productivity" app that aims to help users manage mobile communication tools (email, text, calendar, contacts, Google, Dropbox) alongside a personal cloud that protects an individual’s data. cSuite launched its mobile and cloud-based platform in the U.S.

ABRY-backed Confie buys Sprague, J.N. Mason

Confie, which is backed by ABRY Partners, has acquired two insurance brokerages in New York State: Lloyd D. Sprague & Son Inc (Dba Sprague Insurance) and J.N. Mason Agency Inc. Financial terms weren’t announced. Corning, New York-based Sprague offers personal lines and small commercial insurance. J.N. Mason offers personal lines and small commercial insurance.

Allcare Medical merges with National HME

Allcare Medical LLC has merged with National HME Inc, a portfolio company of Tailwind Capital. Financial terms weren’t announced. National HME provides technology enabled durable medical equipment (DME) solutions for the hospice industry while Allcare Medical provides medical equipment for hospice agencies and hospice patients.

CVC-backed Avast to buy AVG Tech for $1.3 bln

Avast Software, which is backed by CVC Capital Partners, has agreed to buy AVG Technologies NV for $25 a share or $1.3 billion. AVG develops business, mobile and PC device security software applications. Avast is investing $150 million equity. TA Associates owns a minority stake in AVG. Avast has received a financing commitment of $1.685 billion from Credit Suisse Securities, Jefferies and UBS Investment Bank. Jefferies International Ltd is acting as exclusive financial advisor, and White & Case LLP and De Brauw Blackstone Westbroek NV are acting as legal advisors, to Avast. Morgan Stanley & Co LLC advising AVG while Bridge Street Securities LLC is acting as independent financial advisor to the supervisory board of AVG. Orrick, Herrington & Sutcliffe LLP and Allen & Overy LLP are acting as legal advisors to AVG.

Pfingsten sells Des-Case

Pfingsten Partners LLC said July 6 that it sold Des-Case Corp to Industrial Growth Partners. Financial terms weren’t announced. Goodlettsville, Tennessee-based Des-Case provides contamination control products and services for industrial lubricants. Paul Hastings LLP represented Pfingsten in the sale.

Technology Crossover Ventures invests $49.8 mln in Brillen.de

Technology Crossover Ventures has invested 45 million euros ($49.8 million) in Brillen.de. Wildau, Germany-based Brillen.de provides prescription eyewear in that country. SuperVista AG is the parent of Brilen.de.