Rosemont Investment Partners is acquiring a 30% stake in Piedmont Investment Advisors, an asset manager with about $3.5 billion in assets under management. Financial terms were not announced. Piedmont's management team will have 70%.
Today, Apax Partners announced plans to buy two software firms in a combined deal valued at about $2 billion. First, Apax is buying Activant Solutions, a Livermore, Calif.-based provider of enterprise resource planning software for mid-market retailers and distributors. Activant had 2009 revenue of $378.9 million and over 1700 employees, according to the company’s web site. Hellman & Friedman, Thoma Bravo and JMI Equity, which acquired Activant in 2006, are the sellers.
NEW YORK, April 4 – Multiple bidders are expected to vie for bankrupt movie rental chain Blockbuster at an auction on Monday that will decide the company’s next owner and amount of money available to pay off claims. Once the world’s largest video chain, Blockbuster had a market cap of more than $5 billion at […]
Apax Partners will buy Epicor Software Corp., the listed, California-based business software firm, and Activant Solutions, with plans to combine the companies to create a global provider of enterprise applications across a number of industries. The company will become Epicor Software Corp. and will cease trading on Nasdaq. The deal’s value is about $2 billion and Jefferies & Company Inc. and RBC Capital Markets are acting as financial advisors to Apax Partners. Kirkland & Ellis LLP is acting as legal advisor to Apax Partners. It is expected that the acquisitions will close by the end of the second calendar quarter of this year.
Private equity firm KKR will buy Pfizer’s Capsugel business for $2.375 billion in cash, the firms revealed Monday morning in a joint statement. Capsugel generated about $750 million in revenue in 2010, the statement revealed. Pfizer’s financial advisors for the transaction were Morgan Stanley & Co. Incorporated and Guggenheim Securities, LLC. Cadwalader, Wickersham & Taft LLP and White & Case LLP acted as legal counsel for Pfizer. Simpson Thacher & Bartlett LLP acted as legal counsel for KKR.
Florida-based private equity firm HIG Capital has sold its claims vendor management services company Allegient Systems to Bottomline Technologies, a listed, New Hampshire-based provider of collaborative payment, invoice and document automation solutions. Terms of the transaction were not publicized.
Saban Brands, the U.S.-based brand management company, could bid for Hit Entertainment, the Apax Partners-run entertainment rights manager that owns rights to kids’ shows including Thomas the Tank Engine, an article in Marketwatch said. Since reclaiming the rights to his Power Rangers phenomenon last year from Disney, Haim Saban, founder of Saban Brands, has looked to expand on his stable of rights.
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New Enterprise Associates led a $30 million funding of TidalTV, a video advertising, optimization, and yield management solutions provider. Comcast Interactive Capital and Valhalla Partners also participated in the financing.
Connecticut-based private equity firm Altus Capital Partners completed the sale of its D.S. Brown Co., a provider of safety-critical transportation infrastructure products, to Gibraltar Industries, Inc. According to a statement from Altus, the 28 months of the PE firm’s ownership, D.S. Brown increased its revenues by 35% and its EBITDA by 133 percent. Specifics of […]