PE-backed LoneStar buys Hydrobolt

LoneStar, a portfolio company of AEA Investors, has acquired Octopus-backed Hydrobolt. No financial terms were disclosed. Based in the UK, Hydrobolt is a maker of specialty fasteners, machined components and flanges and fittings primarily serving the global oil and gas and power generation industries.

PE-backed Intermedix Corp completes Optima Corp acquisition

Intermedix Corp., a portfolio company of Thomas H. Lee Partners, has closed its buy of Optima Corp. No financial terms were disclosed. Based in Auckland, New Zealand, Optima is a provider of technology that supports simulation, predictive analytics and real-time deployment of mobile resources.

PE-backed AssuredPartners acquires CBS Coverage Group

AssuredPartners, a portfolio company of GTCR, has acquired CBS Coverage Group. No financial terms were disclosed. Based in Plainview, NY, CBS Coverage Group is a provider of commercial insurance, employee benefits, financial planning services and personal insurance.

Quad-C’s Joerns Healthcare merges with Aurora Capital’s RecoverCare

Joerns Healthcare, which is owned by Quad-C Management and RecoverCare, which is owned by Aurora Capital, have agreed to merge. No financial terms were disclosed for the transaction, which is expected to be completed during the second quarter of 2014. Based in Charlotte, North Carolina, Joerns Healthcare is a maker and rental provider of bed systems, therapeutic support surfaces, safe patient handling equipment and wound management solutions for the post-acute healthcare market. And, RecoverCare, which is headquartered in Louisville, Kentucky, is a provider of therapeutic support surfaces, bariatric, wound care and safe patient handling equipment and solutions.

Epirus grabs $36 mln Series B funds and merges with Zalicus

Epirus Biopharmaceuticals said Wednesday that it has secured $36 million in Series B funding. Livzon Mabpharm led the round with participation from other investors that include Adage Capital, Greenwoods Investment, Gibralt US, Monashee Capital Partners, TPG Biotech, Montreux Equity Partners and 5AM Ventures. Also, Epirus will merge with Zalicus. No financial terms were disclosed. The merged entity will be led by Amit Munshi as president and CEO. Based in Boston, Epirus is a biopharmaceutical firm focused on biosimilar monoclonal antibodies while Zalicus specializes in developing new treatments for patients suffering from pain and inflammation.

PE-backed Packaging Dynamics buys Pac Paper

Packaging Dynamics, a portfolio company of Kohlberg & Company, has acquired Pac Paper. No financial terms were disclosed. Based in Vancouver, Wash., Pac Paper is provider of paper packaging products for foodservice, food processing, agricultural and industrial applications.


Aaron’s acquires Summit Partners-backed Progressive: CORRECTED

Aaron’s said Tuesday that it has acquired Progressive for about $700 million in cash. The seller was Summit Partners. Headquartered in Atlanta, Aaron’s is a lease-to-own specialty retailer of residential furniture, consumer electronics, home appliances and accessories.

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