Vector seeks buyer for Saba Software; Warburg snaps up Qualifacts; Blackstone to exit NCR
Lovell Minnick Partners has agreed to take Charles Taylor private, according to a statement. Lovell Minnick is offering 315 pence for each Charles Taylor share, or 261 million pounds ($326 million). The offer represents a 34 percent premium to Charles Taylor’s closing share price on Wednesday. Charles Taylor, of the U.K., is an insurance services firm.
NCR Corp said Sept. 18 that it agreed to pay Blackstone $302 million for 237,673 shares of preferred stock the buyout shop owns. Blackstone is also converting 274,548 shares of preferred stock to approximately 9.16 million shares of NCR common stock. In connection with the conversion, NCR announced the sale of roughly 9.13 million shares in a secondary that includes the Blackstone stock. NCR said it will not receive any proceeds of the offering.
H.I.G. Capital LLC said Sept. 19 that it acquired two office buildings totaling approximately 15,000 sqm in Madrid. Financial terms weren’t announced.
U-C Coatings, a portfolio company of High Road Capital Partners, has acquired the assets of the stains and industrial coatings business of Eco Chemical Inc. Financial terms weren’t announced. Eco Chemicals, of Seattle, makes water-based stains and coatings used on pressure treated wood and in the manufacturing of wood products such as fencing, decks, and exteriors.
Crossplane Capital said Sept. 19 that it acquired a controlling stake in the Accent Family of Cos. Financial terms weren’t announced. Accent, of Tomball, Texas, distributes baling wire, wire ties and wire tier machines into the waste and recycling industries.
Caisse de dépôt et placement du Québec said Sept. 19 that it invested C$53 million ($39.9 million) in neuvoo. Founded in Quebec, neuvoo is an employment website.
David Rubenstein, co-founder and co-executive chairman of the Carlyle Group, spent more than $10 million renovating the Washington Monument, the Washington Post is reporting. After years of repair, the 555-foot marble and granite landmark reopens to the public Thursday, the story said.
Blackstone Group is near a deal to buy Great Wolf Resorts Inc from Centerbridge Partners, Bloomberg is reporting. The deal values Great Wolf, an indoor water-park operator, at at least $2.9 billion including debt, the story said.
Sherpa Capital said Sept. 19 that it invested in Omega Spice. Financial terms weren’t announced. Omega, of Archena, Spain, produces and distributes dehydrated spices, herbs and vegetables for large food companies.
Shore Capital Partners said Sept.19 that it invested in Main Street Gourmet via a recap. Financial terms weren’t announced. Main Street, of Akron, Ohio, is a wholesale bakery providing frozen baked goods, including muffins, cookies, granola, brownies and bars.
Carl Stanton, Invesco’s head of WL Ross business, leaves; Blackstone in $2.5B buy of Promontory; PE firms face congressional scrutiny over surprise billing
Advent International said Sept. 18 that its technology-focused fund closed on its $2 billion hard cap. The target for Advent Global Technology was $1.6 billion. The tech fund is a companion to Advent’s ninth private equity fund, which raised $17.5 billion. Advent said it has also opened an office in Palo Alto, California.
Flex Technology Group and Oval Partners have invested in Laser Technologies Service. Financial terms weren’t announced. Laser Technologies, of Concord, Massachusetts, is an office technology provider.
Turnspire Capital Partners LLC said Sept. 18 that Abel Osorio was promoted to partner.
Providence Equity Partners has closed its latest flagship on $6 billion, according to the Wall Street Journal. The target for Providence Equity Partners VIII LP was $5 billion, the story said.
GitLab said Sept. 17 that it raised $268 million in a Series E round led by existing investors Goldman Sachs and ICONIQ. The round included participation from nine new-to-GitLab investors. GitLab sells tools for software developers within a single application, according to the Wall Street Journal.
Nissan Motor Co has put Nissan Trading Co, which distributes vehicle parts and materials, up for sale in a transaction that could be valued at about $1 billion, Bloomberg is reporting. Nissan has invited private equity and trading firms to bid for all or 100 percent of Nissan Trading, the story said.