MTS Health Investors LLC has sold Celerion Holdings Inc to Court Square Capital Partners. Financial terms weren’t announced. Celerion’s management team will continue to own a minority stake. Celerion, of Lincoln, Nebraska, is a clinical research organization that provides clinical trial solutions to pharmaceutical and biotechnology clients conducting early clinical research throughout North America, Europe, and Asia. Lazard Middle Market LLC served as financial adviser, while McDermott Will & Emery LLP acted as legal adviser to Celerion on the transaction.
Vestar Capital Partners has agreed to buy Nonni’s Food Group from Wind Point Partners. Financial terms weren’t announced. Nonni’s, of Oak Brook, Illinois, makes and markets artisanal cookies and other premium baked snacks. Antares Holdings and Northwestern Mutual Capital provided financing for the transaction. Latham & Watkins provided legal advice to Vestar. Houlihan Lokey acted as financial adviser to Nonni’s and Kirkland & Ellis provided transaction counsel.
Apollo Global Management LLC said Nov. 13 that Scott Kleinman and James Zelter were named co-presidents effective Jan. 1. Kleinman and Zelter will have full responsibility for all of Apollo’s revenue-generating and investing businesses. Kleinman will focus on Apollo’s equity and opportunistic businesses, while Zelter will focus on Apollo’s credit and yield businesses.
TPG Growth said Nov. 13 that it acquired a majority stake in Mendocino Farms. Mendocino Farmswas the seller. Financial terms weren’t announced. Mario Del Pero and Ellen Chen, who co-founded Mendocino Farms in 2005, will remain the largest individual shareholders. Mendocino Farms, of Los Angeles, is a fast casual restaurant concept that offers sandwiches and salads through its 16 locations.
Pet Circle said Nov. 14 that Francisco Partners has made a growth equity investment in the company. Existing investor AirTree Ventures also participated. Financial terms weren’t announced. Pet Circle, of Sydney, provides home delivery of pet food and accessories to consumer.
Permira is recouping some of its investment in LegalZoom more than three years after investing in the Glendale, California, provider of online legal services for small businesses, families and individuals. LegalZoom is issuing $440 million in loans to fund a $249 million dividend to shareholders and repay $178 million in debt, Moody’s reports. The transaction will […]
Quad-C Management Inc has closed its sale of its stake in Vaco to Olympus Partners. Financial terms weren’t announced. Vaco, of Nashville, Tennessee, is an executive search, consulting, placement and strategic staffing firm. William Blair & Co LLC and CHILDS Advisory Partners acted as financial advisers and White & Case LLP served as legal adviser to Quad-C and Vaco in connection with the transaction.
Two payments deals currently in the market are producing different results for private equity. In one corner is Cayan LLC. PE firms have been largely shut out of the Cayan auction, which has been dominated by strategics, one source said. Strategics offered $900 million to $1 billion for the company, while PE proposals ranged $700 million to $800 […]
T. Michael Glenn has joined Oak Hill Capital Partners as a senior advisor and operating consultant. Glenn is the former president and CEO of FedEx Corporate Services.
Ridgemont Equity Partners said Nov. 9 that its Energy Opportunity Fund LP closed on $320 million in commitments. EOF is a companion pool to Ridgemont’s flagship fund, Ridgemont Equity Partners II LP, which raised $995 million. EOF and REP II will invest side-by-side in the firm’s energy sector investments. Brooklands Capital Strategies served as fundraising advisor for the EOF.
Treasury Intelligence Solutions GmbH, or TIS, said Nov. 9 that it raised $12 million in additional financing from 83North. 83North joins previous TIS investors Target Partners and Zobito. TIS, of Walldorf, Germany, provides a cloud platform for managing corporate payments and cash flows.
Capzanine said Nov. 9 that it has sold its stake in Taliance. Financial terms weren’t announced. Taliance, with offices in Paris, London and New York, provides software for modelling alternative investment portfolios.
Blackstone Group is planning to sell its stake in Xinrong Best Medical Instrument Co Ltd, a Chinese maker of medical devices, the Wall Street Journal said. Blackstone has hired Morgan Stanley to run a process that is expected to launch in early 2018, the story said. Xinrong could fetch $400 million, the WSJ said.
Colony Capital has ended talks to buy some or all the assets of the Weinstein Company, according to the New York Times. The parties couldn’t agree on price, the story said. Weinstein entered exclusive talks with Colony on Oct. 16 as it rushed to contain fallout due to sexual harassment and assault allegations against its co-founder Harvey Weinstein, the NY Times said. Colony is the private equity firm run by Thomas J. Barrack Jr.
Norwest Equity Partners said Nov. 8 that it invested in Ramsey Industries. Financial terms weren’t announced. Ramsey, of Tulsa, Oklahoma, makes service cranes, industrial and commercial winches, planetary gear, and digger drives.
Tencent has built a more than 10 percent stake in Snap, parent of Snapchat, the Financial Times is reporting. Tencent notified Snap in a regulatory filing that it had built a position of 145.8 million non-voting shares, the story said. Tencent, of China, is behind the popular messaging platform WeChat.
CCMP Capital Advisors expects to triple its investment with the sale of Pure Gym Ltd, a source familiar with the transaction said. Last week, Leonard Green & Partners said it would buy a majority of Pure Gym. The deal is valued at 640 million pounds ($842.8 million), the person said. Green is replacing CCMP as Pure Gym’s majority owner. […]
Verisure, a portfolio company of Hellman & Friedman, wants bondholders to suspend their customary protections so it can pay a 1 billion euro ($1.16 billion) dividend to its owners, the Financial Times is reporting. Verisure, a Swedish security alarm business, is looking to raise 1.8 billion euros of new debt to fund the dividend and repay existing debt, the story said. Verisure’s existing bonds do not allow for such a large dividend payment, the FT said, and the company is offering bondholders a fee in order to waive and amend them, through a process known as a “consent solicitation.”