Farmington, Connecticut-based EDAC Technologies Corp. a designer, manufacturer and servicer of precision components for aerospace and industrial applications, announced that MidOcean Partners and Public Sector Pension Investment Board had withdrawn a proposal to acquire 100% of company shares. The bid, which has been estimated to value about US$97 million, was made in March. EDAC’s board of directors continued to recommend an offer by GB Aero Engine LLC, an affiliate of the Greenbriar Equity Group.
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MidOcean Partners has made a proposal to the board of directors of EDAC Technologies Corporation to acquire all of the outstanding shares of EDAC for $18.25 per share in cash. The proposal, which is being made jointly with a large North American pension plan investment manager, is not subject to a financing condition.
MidOcean Partners has acquired a majority stake in Agilex Flavors & Fragrances. Financial terms weren’t announced. The seller was Nautic Partners. Piscataway, N.J.-based Agilex provides fragrance compounds and delivery systems sold primarily to manufacturers of air care, personal care, industrial and institutional and household products. Fidus Partners provided financial advice to Agilex.
MidOcean Partners and Crestview Partners are to sell OneLink Communications for an enterprise value of $585.25 million. Liberty Global and Searchlight Capital Partners will be acquiring the business which provides cable TV, high-speed data and telephony services in Puerto Rico. MidOcean and Crestview, together with co-investors and management, acquired OneLink in October 2005 from Adelphia [...]
ACON Investments and MidOcean Partners have merged portfolio companies, Fairway Outdoor Advertising and Olympus Media. Financial terms were not announced. The combined company, Fairway Media Group, of Greenville, S.C., has more than 21,300 bulletin and poster displays in 17 states across the Southeast and Midwest. PRESS RELEASE ACON Investments and MidOcean Partners announced today that [...]
Executives at Fenway Partners are confident that a successful sale of 1-800 Contacts Inc. could put the beleaguered buyout shop in a position to raise another fund next year, Buyouts reported yesterday, citing two sources. The New York-based firm announced on June 4 it had agreed to sell the retailer of contact lenses and glasses [...]
MidOcean Partners portfolio company Bushnell Outdoor Products is to acquire Primos Hunting of Flora, Miss. Terms of the transaction were undisclosed. Kansas-based Bushnell is a manufacturer of sports optics, premium eyewear, and outdoor accessories. Primos is a supplier of products to the hunting industry. Its product line includes blinds, scent eliminators, game scents and attractants, [...]
Legal Genie hopes to tap the surging market for legal document providers and is looking for investors
Penton Media, a business to business media company providing content, insight and marketing to 17 industry sectors, has appointed David Kieselstein, previously CEO of TNS North America, as Penton Media CEO. He will also join the Penton board of directors. Kieselstein will be based in New York. Penton is owned by MidOcean Partners and US [...]
Buyout firm MidOcean Partners has acquired a majority stake in Jones & Frank, a provider of equipment distributor and repair, maintenance, and installation services provider to the fueling infrastructure industry. Terms of the deal were not released. Jones & Frank is based in Raleigh, N.C.