RTI Biologics has agreed to buy Pioneer Surgical Technology and is paying $130 million cash for the company's stock. Water Street Healthcare Partners is providing a $50 million private placement of preferred equity to support the deal. TD Bank, N.A., TD Securities “USA” LLC and Regions Bank are providing a 5-year, $80 million senior secured facility. RTI will appoint two directors designated by Water Street to serve on the combined company’s board. Alachua, Fla.-based RTI provides orthopedic and other biologic implants.
French perfume and cosmetics retailer Nocibe has received expressions of interest from German perfume-to-books retailer Douglas Holding and from French private equity firm LBO France in an alliance with Chinese conglomerate Fosun, French daily Le Figaro said, writes Reuters. The seller, British private equity group Charterhouse, has pushed back the deadline to enter firm offers to the end of June, the paper said, writes Reuters.
Stripes Group, a technology and consumer focused growth equity firm, has sold the entire stake held by SG Growth Partners I, L.P. in MyWebGrocer, a provider of digital marketing solutions for grocery stores and global consumer packaged goods (CPG) companies. As part of the private transaction, HGGC, a middle market private equity firm, completed a growth equity investment in the company.
The Vents du Kempt wind power project, which is located the Matapédia region of the Gaspé in Québec, has closed a senior debt transaction. The debt providers are institutional investors, including the Caisse de Dépôt et Placement du Québec, which contributed $50 million. An affiliate of Fiera Axium Infrastructure Inc., a Canadian private equity firm focused on core infrastructure opportunities, owns 49% of Vents du Kempt, while Eolectric Club LP, a fund formed by Fiera and Eolectric Inc. in 2012, owns a 51% interest.
BC Partners is the last remaining bidder for Springer Science+Business Media, three people familiar with the negotiations said, as the German publisher's owners plan to decide by the end of this week whether to sell or float the group. BC has made an offer that would value Springer between $4.1 billion and $4.6 billion, the sources told Reuters.
TalentWise said Tuesday it raised $25 million of growth capital. TalentWise did not name the investor but said it was a Seattle-based private equity investor group. Citi served as the sole placement agent to TalentWise, which provides a platform that aims to automate the hiring process.
Garda World Security Corp., a Montréal-based cash logistics and security solutions business, has commenced a private offering of US$50.0 million of additional senior notes due in 2017. Proceeds of the offering will be used to repay borrowings under the company's revolving credit facility and for general corporate purposes. Garda was taken private for $1.1 billion by British buyout firm Apax Partners and Stephan Cretier, the company's chairman and CEO, in November 2012.
The proposed acquisition of Mobilicity, a.k.a. Data & Audio-Visual Enterprises Wireless Inc., by TELUS Corp. has been officially terminated by the company, following a recent block of the deal by federal authorities. Mobilicity will now hold a meeting of its debt holders to vote on its previously announced recapitalization plan on June 25. The Toronto-based mobile service provider has been backed by U.S. private equity firm Quadrangle Capital Partners since 2008.
The undisclosed majority acquisition of Twin Rivers Paper Company Inc. by U.S. buyout firm Blue Wolf Capital Partners and Atlas Holdings has been completed. The company, a specialty paper manufacturer with facilities in Edmundston and Plaster Rock, New Brunswick and Madawaska, Maine, was previously owned by Brookfield Asset Management. Adam Blumenthal, managing partner of Blue Wolf, and Tim Fazio, managing partner of Atlas, have joined the company's board of directors.
A majority of shareholders of publicly-traded Softchoice Corp., a Toronto-based provider of IT solutions and services, have approved the take-private offer made by Canadian buyout firm Birch Hill Equity Partners. Under the terms of the agreement, Birch Hill will buy all of the company's common shares for $20 per share, representing a total value of $412 million. If court approval is obtained, and other conditions are satisfied or waived, the deal is expected to be closed on or about June 18, 2013.