Belgian visual technology company Barco said on Wednesday it had acquired a majority stake in a Norwegian projection technology firm to help it push deeper into the mid-sized segment of the projection market. Barco, whose main growth engine in recent years has been digital cinema projectors, said it had bought a 61 percent stake in projectiondesign from private equity firm Herkules Capital. The remaining shares are held by minority shareholders. Terms were not released.
Baird Capital Partners Asia, the China-focused investment group of Baird Private Equity, has invested an undisclosed amount in Boston Plastics, a high precision plastic injection molding and sub-assemblies company based in Singapore. Terms were not disclosed.
The GFI Energy Group of Oaktree Capital Management has acquired Shermco Industries Inc., a provider of testing, maintenance, repair, engineering, training and commissioning services for low, medium and high voltage electrical equipment. Terms of the deal were not disclosed. Oaktree is a Los Angeles-based firm.
Australian surfwear company Billabong International received a $556 million bid, the latest takeover play in a tumultuous year in which three previous offers withered, but its shares fell sharply on Wednesday as it cut its earnings forecast, Reuters reported. A consortium led by director Paul Naude and New York-based Sycamore Partners offered A$1.10 per share, a 12 percent premium to the stock's last trade before a trading halt on Monday.
Industrial Opportunity Partners, the Illinois-based PE firm, sold portfolio company Center Manufacturing to Mayville Engineering Company. It is the fourth exit from IPO’s initial $185 million fund. Center is based in Byron Center, Michigan. Specifics were not publicized.
Private equity firm Carlyle Group LP completed on Wednesday the sale of Metaldyne LLC for about $820 million to another buyout firm, its second divestment of a U.S. auto part supplier it picked up from bankruptcy in as many years.
SolarCity launches an IPO last week as CEO Lyndon Rive sits down with VCJ for an exclusive video chat.
Pala Investments, a Swiss private equity firm focused on investments in the global mining sector, has extended an offer to Melior Resources Inc to acquire all outstanding common shares of the publicly-listed company. Pala has also increased its existing stake in the Toronto-based Melior to approximately 54.5 percent. Pala has made numerous investments in Canadian mining businesses in recent years.
Total Fleet Solutions, a Holland, Oh.-based fleet management services company, has merged with San Antonio, Tex.-based The Miner Corporation, which sells facilities services (from loading docks to storefront glass to commercial doors) to a wide range of industries. Terms of the deal were not disclosed, but Total Fleet Solutions is backed by the private equity firm CI Capital Partners.
Italian state-controlled fund Fondo Strategico Italiano has made a binding offer for a minority stake in Finmeccanica's power engineering unit AnsaldoEnergia, sources close to the matter said on Tuesday. AnsaldoEnergia, of which the Italian aerospace and defense group owns 55%, has attracted interest from German industrial giant Siemens as well as from Korean group Doosan and a group of Italian investors headed by FSI.