Platinum Equity said Feb. 6 that it closed its buy of the OfficeMax business in Australia from Office Depot. Financial terms weren’t announced. Platinum Equity said it also plans to bring together the OfficeMax business in Australia with Winc Australia, the former Staples business it acquired in April 2017 and has rebranded. Baker McKenzie, Bell Gully, and Greenwoods & Herbert Smith Freehills served as legal counsel to Platinum Equity.
EQT said Feb. 7 that it agreed to sell CBR Fashion Group to Alteri Investors. Financial terms weren’t announced. CBR, of Germany, is known for its Street One and Cecil brands. Alteri, a special situations investor in Europe, is backed by Apollo Global Management.
Strategic Value Partners has agreed to buy TPG’s stake in Vita Group, according to PE News. If the deal closes, Strategic Value Partners, which already owns a minority stake, will have a majority of Vita, the story said. Vita, of the United Kingdom, supplies polyurethane foam products.
Gill Marine has acquired Gill North America Ltd. Gill Marine is a portfolio company of YFM Equity Partners. Financial terms weren’t announced. Gill North America, of Buford, Georgia, is the distribution arm that sells Gill sailing clothing.
Gartner Inc said Feb. 6 that it agreed to sell CEB Talent Assessment for $400 million. Exponent Private Equity is the buyer. CEB Talent Assessment, formerly SHL, is a provider of talent assessment solutions, including a portfolio of assessment tools, benchmark data, predictive technologies and consultancy services.
Towerbrook Capital Partners is looking to raise $5 billion for its latest flagship buyout fund and another vehicle that buys minority stakes, according to PE News. The firm’s main fund is targeting $4 billion, while the non-control vehicle is seeking $1 billion, the story said.
IntuiLab said Feb. 6 that it raised $3.7 million in Series A funding from IRDI SORIDEC Gestion, M Capital Partners and two business angels with the support of Bpifrance. IntuiLab, of Toulouse and Chicago, is the company behind IntuiFace, a software platform for creating touch-first digital signage without writing code. Avolta Partners provided financial advice.
Alliance HealthCare Services has agreed to buy e+CancerCare, a portfolio company of Kohlberg & Co. Financial terms weren’t announced. E+CancerCare, of Nashville, operates outpatient cancer centers with 24 locations in 10 states. Cain Brothers provided financial advice to Kohlberg and e+CancerCare.
Coller Capital and Goldman Sachs were selected as buyers of Nordic Capital’s restructuring of its 2008-vintage fund, Private Equity International is reporting. LPs now have 20 days to vote on whether the deal should proceed and if they want to sell their stake or roll their positions into a new five-year continuation fund, the story said. Coller and Goldman will pay an 11 percent premium to net asset value, PEI said.
Lovell Minnick Partners, which just unveiled its newest crop of leaders, will return to market this year with its latest flagship, three sources said. The Radnor, Pennsylvania, private equity firm is expected to seek $1 billion with its fifth PE fund, the people said. The target is a 33 percent jump from Lovell’s fourth institutional fund, which closed […]
Warburg Pincus is providing a line of equity financing of up to $300 million to Ridge Runner Resources LLC. Ridge Runner is a formed oil and gas exploration and production company focused on the Delaware Basin.
Olivier Sarkozy has raised about $400 million for his new PE fund, Bloomberg reported Feb. 2. Sarkozy’s firm, Further Global Capital Management, is targeting $1.25 billion for its debut fund; investors have to commit a minimum of $10 million, the story said, citing an SEC filing. Sarkozy is the former head of Carlyle’s financial services group.
Some of the largest private equity funds are jockeying to buy a large chunk of Dutch paint maker Akzo Nobel for as much as €10 billion ($12.5 billion), the Financial Times reported. The bidders include Carlyle; a consortium of Advent and Bain; another group including Apollo and German specialty chemicals producer Lanxess; and Hal Investments of the Netherlands, the story said. Final bids are due mid-March, the FT said.
Quantum Capital Partners said Feb. 5 that it closed its second fund at its 77.5 million euros ($96.6 million) hard cap. Quantum, of Munich, invests in challenging situations and complex carve-out opportunities in Continental Europe. The firm’s first fund raised 55 million euros in 2014. Triago advised on both funds.
Bon-Ton Stores Inc has filed for Chapter 11 bankruptcy protection, the Wall Street Journal reported. The retailer, which owns 260 stores, said it would close 42 of them across the Northeast and Midwest, the story said. Bon-Ton held talks with Sycamore Partners last year, Bloomberg said.
Jumio Corp is going up for sale, less than two years since emerging from bankruptcy, four sources said. The online verification company has been interviewing bankers, people said. Evercore was tapped to run the Jumio process, one of the sources said. The Jumio auction is slated to start in March; it is seeking bids of $500 […]
Financial services firm State Street Corp is in talks to buy Charles River Systems, a maker of investment management software, according to four sources. It’s not clear if discussions include a sale of all or part of Charles River, or at what stage the talks are at, the people said. Financial terms were also not […]
Jeff Immelt has joined New Enterprise Associates as a venture partner. Immelt recently retired from his role as chairman and CEO of GE after 16 years.