Onex Corp. has paid $165 million for a 50% stake in BBAM, a manager of commercial jet aircraft. Onex and the BBAM management team also announced the purchase of $25 million of newly issued shares of FLY Leasing Limited, a lessor of commercial jet aircraft managed by BBAM. In total, Onex Partners III invested $185 million, of which Onex' share was $47 million as a limited partner in the Fund.
Private equity firm Sun European Partners has sealed two acquisitions in the packaging sector totaling around $700 million, helping to consolidate an industry battling to cut costs to cope with faltering demand. Sun European, an arm of U.S.-based Sun Capital, said on Wednesday it had received regulatory approval to buy the cosmetics division of Rexam's personal care business and that it was also buying Paragon Print and Packaging. The deals bring Sun Capital's total number of deals in the packaging sector globally to 34 since its inception in 1995.
NXT Capital has provided provided a $32 million senior secured facility to fund Summit Park’s recapitalization of NSi Industries, the firm announced Wednesday. Summit Park is based in Charlotte, North Carolina. NSi Industries makes electrical connectors, time switches, and wire management products.
Globalturk Capital is collaborating with the US-based Small Enterprise Assistance Fund to start exploring investment opportunities exclusively in the Turkish market and for Turkish companies who have growth strategies in and beyond Turkey. Investment style is a combination of equity and loan in the range of $1 to $7 million.
Healthcare-focused buyout firm BelHealth Investment Partners has completed its acquisition of specialty pharmacy Town Total Health. BelHealth also announced that healthcare and specialty pharmacy executive Michael A. Nameth has joined Town Total as CEO.
CoBe Capital has acquired Warendorfer Küchen, a manufacturer of premium kitchens from AFG Arbonia-Forster-Holding. This transaction represents CoBe Capital's first investment in Germany and follows its most recent transaction, Bourrelier Éducation, in France in 2011.
Equistone Partners Europe has divested its investment in Paragon Print & Packaging Limited alongside its co-investor LDC, to an affiliate of Sun European Partners for an undisclosed amount. The deal represents Equistone’s fifth successful exit of 2012.
Prospect Capital Corporation has provided a $30 million first-lien senior secured loan to support the recapitalization of Spartan Energy Services. Headquartered in Lafayette, Louisiana, Spartan is a provider of thru tubing and flow control services to oil and gas companies operating throughout the United States. The recapitalization was completed by Harren Equity Partners in partnership with Spartan's management team and employees.
Great Point Partners has completed a dividend recap of Health Systems International, according to a Dec. 27 statement. Great Point, a Greenwich, Conn.-based PE firm, did not disclose financial terms of the dividend recap. However, Great Point said that the transaction was an "attractive opportunity" for HSI's shareholders, which include company management and GPP's LPs. Indianapolis-based Health Systems provides outsourced medical cost management services for self-insured corporations and insurance companies.
Main Street Capital Corp. said Monday it completed two investments totaling $35.1 million. Main Street invested $21.1 million in Bond-Coat, of Odessa, Texas. Bond-Coat provides external casing and tubing coating for corrosion prevention and cement adhesion. Main Street also provided $14 million to Marine Shelters Holdings, which does business as LoneStar Marine Shelters. Galveston, Texas-based LoneStar is a marine building fabricator specializing in high blast rated and high fire rated buildings for the offshore oil and gas industry.