Mississauga, Ontario-based Patheon Inc., a provider of pharmaceuticals development and manufacturing services, closed its buy of Banner Pharmacaps Inc. for US$255 million. The High Point, North Carolina-based Banner Pharmacaps focuses on research, development and manufacturing of unique gelatin-based dosage forms. Patheon has since 2007 been a portfolio company of New York private equity firm JLL Partners.
U.S. Anesthesia Partners, which is backed by Welsh, Carson, Anderson & Stowe, said Monday that Greater Houston Anesthesiology P.A. will serve as U.S. Anesthesia's cornerstone affiliated practice. As part of the deal, U.S. Anesthesia will buy the Greater Houston Anesthesiology assets that provide practice management and business support services. Financial terms were not announced. Greater Houston provides anesthesiology services for major medical facilities in Houston and Austin.
Palladium Equity Partners said Monday it has agreed to sell Wise Foods to Arca Continental. Financial terms were not announced. Berwick, Pa.-based Wise Foods is known for its salty snacks like Cheez Doodles, Wavy Potato Chips, Ridgies, Dipsy Doodles, as well as tortilla chips and pretzels. Palladium previously tried to sell Wise in 2010.
Eliot Spitzer, the former New York Governor, wants pension funds to exit their investment in Cerberus Capital Management, because of the firm's connection to gun manufacturer Bushmaster. New York-based Cerberus, which has more than $20 billion in assets, owns the Freedom Group.
If the Securities and Exchange Commission is slow to implement the marketing exemption of this year’s JOBS Act, it may be because regulators fear opening a vector that could be a “shill for fraudulent vehicles,” Robert B. Kaplan, a partner in the law firm Debevoise & Plimpton LLP, told sister magazine Buyouts.
Mill City Capital is acquiring JMH International, a developer of various sauce, stock and soup products and mixes. The company is based in Utah. Babson Capital Management provided subordinated debt and an equity co-investment to support the transaction. Specifics on the deal were not publicized.
Charlesbank Capital Partners has acquired United Road Services from The Gores Group. Terms were not disclosed. The Gores Group acquired United Road in 2007. The company is based in Romulus, Michigan, and provides vehicle transport and logistics services.
The Joh. A. Benckiser Group is paying $16 per share, or about $340 million, to acquire publicly traded Caribou Coffee Company Inc. The price represents a premium of approximately 30 percent over Caribou’s closing stock price on December 14, 2012, the last trading day prior to the announcement of the transaction.
Pine Brook said Monday it completed a $45 million growth equity investment in Community Trust Financial Corp., which is the parent of Community Trust Bank. Pine Brook will have 13.7% economic interest in Community Trust and 9% voting interest, according to Oliver Goldstein, a Pine Brook MD. Ruston, La.-based Community Trust is a $3 billion community trust bank with 30 banking centers spread across Northern Louisiana, the Dallas/Fort Worth area, and North-Central Mississippi.
New York-based healthcare-focused private equity shop MTS Health Investors has acquired Vital Decisions. Terms of the transaction were not disclosed. Vital Decisions provides proprietary counseling programs to patients with advanced illnesses. Vital Decisions is based in Edison, New Jersey.