Crestview Partners has agreed to buy DS Waters of America. Financial terms weren't announced. Atlanta-based DS Waters is a diversified beverage company providing bottled drinking water, brewed beverages and water filtration systems to homes and offices across the U.S. Evercore advised DS Waters while Barclays and Jefferies acted as M&A advisors to Crestview.
Solis Capital Partners said Wednesday it sold its majority stake in Tigers to GeoPost S.A. Financial terms weren't announced. Hong Kong-based Tigers is a transportation and logistics provider. Solis said the sale of Tigers represents the full realization of Solis’ first fund, Solis I, contributing to a gross return on invested capital of 3.4x and a realized IRR in excess of 25% since inception in 2003.
Buyout firms have a record level of expiring funds this year, raising the prospect that many will have to ask investors for more time to do deals or not use the money at all, Reuters reports.
KKR & Co LP on Tuesday secured the cheapest borrowing rates it ever got to fund a leveraged buyout, which could cut hundreds of millions of dollars from interest it will pay to finance its $3.9 billion takeover of Gardner Denver Inc , banking sources told Reuters.
UK Asset Resolution (UKAR), Britain's 'bad bank', has agreed to sell a portfolio of former Northern Rock loans to U.S. private equity firm J.C. Flowers and debt recovery business Marlin Financial for a combined 400 million pounds ($615 million), Reuters reported.
Sanofi SA's India unit and Carlyle Group are in separate talks to buy the domestic drug formulations business of India's Elder Pharmaceuticals Ltd for $400 million-$450 million, sources told Reuters.
Dell Inc shareholders converge on Texas on Wednesday to vote on CEO Michael Dell's $24.4 billion buyout offer for the company after a previous meeting was pushed back a week in the hope of convincing dubious investors to accept the deal, Reuters reported.
HV Capital Investors has expanded its debt facility with Onesource Water to $31 million. Onesource Water is a distributor of point-of-use water purification systems in the US operating in 15 geographic markets in 13 states. The company is growing through both acquisitions and new sales in existing markets.
FS Investment Corporation and FS Investment Corporation II and private equity firm Altamont Capital Partners have committed to a $294 million proprietary loan financing for Billabong International Limited. Billabong is an international manufacturer and distributor of surfwear and extreme sports apparel. The financing commitment provided by FSIC, FSIC II and Altamont consists of a $294 million bridge loan. The financing arrangement also includes an option to acquire a 15 percent equity stake in Billabong.
Black Creek, British Columbia-based Coastline Broadcasting Ltd., a regional cable television provider, has agreed to be purchased by Investel Capital Corp. for an undisclosed sum. Under the terms of the agreement, the firm will take over all of Coastline's operations at the end of July. With offices in Vancouver and Toronto, Investel is an investment fund specializing in the acquisition of distressed and underachieving telecom companies.