Detroit-based private equity firm Superior Capital Partners said Thursday that it has recapitalized Aldora Glass Holdings and Coastal Glass Distributors. No financial terms were disclosed. Based in Fort Lauderdale, Fla., Aldora is a producer of architectural aluminum and glass, while Coastal Glass Distributors, which is located in Charleston, S.C., is a glass fabricator.
Layne Christensen Company said Thursday that it has sold SolemeteX to Gemini Investors, Riviera Investment Group and the management team of the SolemeteX division. No financial terms were disclosed about the transaction, which was completed on July 31, 2013. Based in Northborough, Mass., SolemeteX is a provider of dental amalgam separator devices.
The Riverside Company has sold Capol to Freudenberg Chemical Specialties. No financial terms were disclosed. Heer and Blomqvist led the transaction while KPMG and Watson Farley & Williams advised Riverside on the sale of Capol. Based in Elmshorn, Germany, Capol is a provider of confectionary coatings.
CIT Group said Wednesday that it provided a $61.8 million loan to a portfolio company of Alterna Capital Partners to finance its buy of three 50,000 DWT ECO-design Medium Range (MR) IMO II/III product/chemical tankers from STX Offshore & Shipbuilding Co. The tankers are owned by Sterling Ocean Shipping, which is majority owned and controlled by Alterna. CIT Maritime Finance structured and facilitated the transaction.
Bayside Capital, the credit affiliate of H.I.G. Capital, has agreed to buy the first pool of real-estate assets sold by Sareb, known as Project Bull. Sareb will retain a 49% stake while Bayside will have 51%. The deal values the portfolio at €100m and allows Sareb to participate in future gains. The Project Bull portfolio is comprised of residential developments, more specifically 939 homes located in: Andalusia (275), Canary Islands (129), Cantabria (5), Catalonia (38), Balearic Islands (19), Madrid (86), Murcia (44) and the Community of Valencia (343). The portfolio also includes 750 ancillary premises (parking spaces and storage rooms) and one retail unit.
Maersk Inc., a subsidiary of the A.P. Moller-Maersk Group, has agreed to sell Bridge Terminal Transport to Platinum Equity. Financial terms weren't announced. The deal is expected to be completed on or about Sept. 1. Bridge Terminal Transport is a marine drayage company in the United States.
In a court case that could add a new risk factor to some deals, the First Circuit Court of Appeals last month ruled in favor of the New England Teamsters and Trucking Industry Pension Fund, which argued that two investment funds managed by Sun Capital Partners were liable for $4.5 million in pension liabilities for Scott Brass Inc., a Sun Capital portfolio company that want bankrupt in 2008, according to Buyouts, peHUB's sister magazine.
About seven bidders are lining up for Telediffusion de France's (TDF) domestic business and lenders are preparing debt packages of more than 2 billion euros ($2.7 billion) for a deal worth about 4 billion euros, sources told Reuters.
TPG Capital LP has been exploring a sale of Aptalis Pharma, a specialty drugmaker it has owned since 2008 and values at more than $3 billion, sources told Reuters.
Emporia, Kansas-based Hopkins Manufacturing Corp., a maker of branded automotive aftermarket products, has acquired Mallory Industries Inc., a provider of winter snow tools and automotive window squeegees, with headquarters in Blenheim, Ontario. The financial terms of the transaction were not published. Hopkins has made a number of acquisitions since it was bought in June 2011 in a management buyout led by Canadian mid-market private equity firm ONCAP. The Toronto-based ONCAP is affiliated with Onex Corp.