Cinven and Canada Pension Plan Investment Board (‘CPPIB’) have agreed to buy Hotelbeds Group for 1.165 billion euros ($1.32 billion). Tui Group is the seller. Hotelbeds Group, of Spain, is a provider of B2B hotel room distribution to the travel industry (through its brands Hotelbeds and Bedsonline).
Avery Dennison said April 28 that it agreed to buy the European business of Mactac from Platinum Equity. The purchase price was 200 million euros ($227.2 million) including assumed debt. The Mactac business makes high quality pressure-sensitive materials, serving several high-value segments, including graphics, specialty labels and industrial tapes.
Drivy said April 28 it closed a 31 million euro ($35.2 million) round of funding led by Cathay Innovation and Nokia Growth Partners. Also participating were Bpifrance’s Ecotechnologie Fund, Via-ID (Mobivia group) and Index Venture. Drivy is a car rental marketplace in Europe.
TPG Growth said April 28 that it closed its buy of a majority of Frank Recruitment Group (FRG). Financial terms weren’t announced. FRG founders and Livingbridge were the sellers. FRG, of Newcastle, United Kingdom, is a staffing and recruiting business focused exclusively on the enterprise software market. Rothschild provided sell-side advisory services while Travers Smith and Ward Hadaway acted as legal advisors to FRG. Kirkland & Ellis International LLP acted as a legal advisor to TPG Growth in the transaction and HSBC provided debt financing.
To start your morning, Facebook proposes a new class of stock to ensure Mark Zuckerberg remains in charge, SpaceX plans to send an unmanned Dragon spacecraft to Mars as early as 2018 and Ted Cruz names Carly Fiorina as his running mate.
Seclore said April 27 that it raised $12 million in Series B funding by Helion Ventures, VentureEast, Sistema Asia Fund, and India Alternatives. Seclore, of India, is an information security firm.
Tom Gores and Dan Gilbert said April 26 they are partnering to bring a Major League Soccer (MLS) club to downtown Detroit. No further information was disclosed. Gores, owner of the Detroit Pistons, will reportedly lead the soccer franchise while Gilbert would lead procurement of the land, developing the site and building the stadium. Gores is Chairman and CEO of Platinum Equity. Gilbert is Founder and Chairman of Quicken Loans Inc and Rock Ventures LLC.
ObserveIT said April 27 that it named Mike McKee its Chief Executive Officer. McKee previously served as an Executive Officer at Rapid7. ObserveIT is backed by Bain Venture Capital.
Peak Rock Capital has agreed to buy Diamond Crystal Brands Inc from Hormel Foods Corp. Financial terms weren’t announced. Savannah, Georgia-based Diamond Crystal makes and distributes customized foodservice solutions, including sauces, dressings, condiments, drink mixes, salt, pepper, sweeteners and other food and beverage products.
Brentwood Associates has invested in Pacific Catch. Financial term of the deal weren’t announced. CEO Steve Stoddard will continue to lead the existing management team. San Francisco-based Pacific Catch is a Westcoast Fish House serving fresh seafood inspired by the culinary traditions of the Pacific. Pacific Catch was represented by Veritas Corporate Law, and Brentwood was represented by Burr & Forman LLP.
Francisco Partners has acquired SintecMedia. Financial terms weren’t announced. SintecMedia’s management team is also investing. Existing shareholders, including Riverwood Capital, were the sellers. SintecMedia provides broadcast management software.
Apollo Global Management has closed its buy of The Fresh Market Inc. The $1.4 billion deal was announced in March.
Integrated Beverage Group, which is backed by Juggernaut Capital Partners, said April 26 that it named Mike Salzberg as its chairman, and Gary Turner as its executive vice president of sales. IBG also recently named Brett Zimmerman, Master Sommelier, as its chief wine officer. Salzberg most recently served as president and COO of Advantage Sales and Marketing (now called Advantage Solutions), while Turner was most recently the vice president of operations for ARAMARK. Zimmerman owns Boulder Wine Merchant and is a former Colorado general manager of the American Fine Wine Division of Southern Wine & Spirits.
Allied 100 LLC, a portfolio company of Ridgemont Equity Partners, has acquired Lifeguard Medical Solutions. Financial terms weren’t announced. Lifeguard Medical distributes automated external defibrillators and accessories.
China’s biggest e-commerce company Alibaba Group Holding Ltd‘s affiliate Ant Financial Services Group has closed a $4.5 billion funding round, paving the way for a long-expected initial public offering (IPO), Reuters News reported.
AbSci said April 25 that it raised $5.1 million in Series A financing led by Phoenix Venture Partners. Portland, Oregon-based AbSci provides a protein expression platform for use in biopharmaceutical manufacturing.
Tado said April 26 it closed $23 million in funding from Inven Capital, the VC arm of Čez Group. Tado provides home climate control solutions like thermostats and AC controls.
Z Capital Partners LLC, the private equity management arm of Z Capital Group LLC, has acquired Twin-Star International Inc. Financial terms weren’t announced. Delray Beach, Florida-based Twin-Star designs, makes and markets a line of electric fireplaces, heaters, home furnishings and consumer electronics.