Montréal-based Stornoway Diamond Corp (TSX:SWY) has entered into an unsecured non-revolving bridge credit facility of up to $20 million with Ressources Québec, a subsidiary of Investissement Québec, the company's largest shareholder. Proceeds of the facility will be used for the development of the Renard Diamond Project in the James Bay region of north-central Québec, and for general corporate purposes. Stornoway has also been backed by the Fonds de solidarité des travailleurs du Québec FTQ.
French private equity firm Mantra Investissement urged shareholders of German phone maker Gigaset to participate in a capital increase to block a takeover attempt by Singapore-based Goldin Fund Pte. Ltd, Reuters reported.
U.S. private equity group Starwood Capital has provided a 288 million pound ($463 million) refinancing facility to London's Heron Tower, saving the 46-storey skyscraper from the threat of receivership and a possible sale, Reuters reported.
Investment firm CoBe Capital has acquired Staples' printing systems division, which is based in Amsterdam, The Netherlands. No financial terms were disclosed.
Advent International said Monday that it has inked an agreement to acquire P2 Energy Solutions from Vista Equity Partners. No financial terms were disclosed. The transaction, is expected to be close by the end of 2013. Jefferies is advising P2 in the deal while Jefferies Finance has provided financing to Advent International. P2 is a provider of software, geospatial data and land management solutions for the upstream oil and gas sector.
Francisco Partners said Monday that it has bought Avangate. No financial terms were disclosed. Pagemill Partners advised Avangate in the transaction while Navidar Group advised Francisco Partners. Avangate is an ecommerce company.
OpenGate Capital has closed its previously announced buy of PennySaver USA from Harte-Hanks. Backbone Capital Advisors supported OpenGate Capital in the deal and brought Capital One Business Credit to the table as a lender. PennySaver is a provider of print and digital marketing and advertising services.
Baltimore-based growth equity firm Camden Partners has invested in Ingo Money. No financial terms were disclosed. Based in Georgia, Ingo Money is a provider of financial risk management solutions.
Inflexion has acquired On The Beach in a £73 million (approximately $11.7 million) secondary buyout from Isis Equity Partners. Inflexion was advised by PwC, Pinsent Masons and BDO in the transaction while Lloyds provided the financing. Based in the UK, On The Beach is an online travel agent.
The Abraaj Group said Monday that it has invested in African Industrial Services Group. No financial terms were disclosed. Based in Cote d’Ivoire, AIS is provider of engineering solutions.