The Overseas Private Investment Corporation, a U.S. federal agency, said Friday that it will provide $30 million in financing to the Aga Khan Hospital and Medical College Foundation. The funding, which is in addition to the $7.5 million from the Aga Khan Foundation, is to expand the Aga Khan University Hospital in Pakistan.
Montreal-based menswear brand Samuelsohn has agreed to acquire Hickey Freeman from W Diamond Group. No financial terms were disclosed. Also, Samuelsohn, which is owned by Grano, a Canadian private equity firm that focuses on the retail, wholesale and manufacturing sectors, has inked a 40-year licensing agreement for Hickey Freeman with owner Authentic Brands Group. Based in Rochester, New York, Hickey Freeman is a manufacturer of suits for men.
Private equity firm Cinven has agreed to buy internet domain and hosting company Host Europe Group from Montagu Private Equity for 438 million pounds ($666 million), sources told Reuters.
U.S. hedge funds Oaktree Capital Management and Centerbridge Partners on Friday asked Australia's takeover regulator to intervene in surfwear company Billabong International Ltd's $359 million refinancing deal with Altamont Capital Partners, Reuters reported.
Babson Capital Management said Friday it provided debt and equity as part of Silver Oak Services Partners buy of The Tranzonic Cos. Financial terms weren't announced. Richmond Heights, Ohio-based Tranzonic distributes maintenance, cleaning and safety products to the “away-from-home” marketplace.
HgCapital has acquired a majority stake in IntelliFlo Limited. Financial terms weren't announced. HgCapital said the investment came from its Mercury Fund, which targets software and other technology companies across Europe. IntelliFlo, of the U.K., is s SaaS provider of front and back office software to financial advisors, advisor networks and brokers.
Informa plc said Friday it has agreed to sell five Corporate Training businesses to Providence Equity Partners for a total consideration of up to $180 million. The initial $165 million includes $100 million in cash plus a $65 million vendor loan. Informa will get another $15 million in 2014 if the businesses achieve a certain level of revenue by 2013. Moelis & Co. advised Informa. Switzerland-based Informa is an academic publishing, business information and events group.
Pharos Capital Group has sold its stake in Pioneer Surgical Technology for $130 million. Earlier this week, RTI Biologics, which is backed by Water Street Healthcare Partners, said it was buying Pioneer from Beringea. RTI paid $130 million for Pioneer. Marquette, Mich.-based Pioneer makes and distributes metal and synthetic implant products for the orthopedics, biologics, spine, trauma and cardiothoracic markets.
New York State regulators are considering whether to let insurers with links to private equity firms buy annuity businesses reports Reuters, citing sources "familiar with the matter." One of the two acquisitions under review is the US$1.35 billion purchase by Guggenheim Partners' Delaware Life Holdings LLC affiliate of the U.S. annuity business of Canadian life insurer Sun Life Financial Inc. The deal was announced in December 2012. The Reuters story notes that imposition of regulatory requirements "could reduce the attractiveness of such deals for buyout firms."
Toronto-based Fiera Axium Infrastructure has closed its purchase of four solar photovoltaic (PV) projects from Ontario Solar PV Fields Inc. In conjunction with the acquisition, the firm announced a $175 million senior debt financing that will partially fund construction of the projects. The construction, which is expected to be completed in the second quarter of 2014, will result in supply of up to 50 gigawatt hours (GWh) of electricity per year.