NVM Private Equity has sold IG Doors, a manufacturer of composite external doors for the housebuilding industry, to the Hörmann Group, a family-owned German manufacturer of residential and industrial doors. The sale represents an IRR of 17.3 percent per annum and a money multiple of 3.3x on NVM’s original investment.
Dunedin has backed the management buyout of York headquartered Trustmarque Solutions, a provider of technology services and solutions to private and public sector organisations across the UK. The business was acquired from LDC.
Italian defense group Finmeccanica and private equity fund Cinven will get at least five offers for satellite propulsion system unit Avio Spazio, writes Reuters. French groups Safran and Thales, French-German consortium EADS and two unnamed operators from Germany and the United States will submit preliminary offers for the company by the end of June, business daily Il Sole said, writes Reuters.
OMERS Private Equity, the private equity investment arm of the OMERS pension plan, in equal partnership with Alberta Investment Management Corporation is to acquire Vue Entertainment from Doughty Hanson and management. Vue is an operator of modern multiplex cinemas in the United Kingdom, Ireland, Germany, Denmark, Portugal, Poland, Latvia, Lithuania and Taiwan. The transaction is expected to close by late July 2013.
Pan-European mid-market private equity firm Agilitas has made its maiden investment with the management buyout of ISS Damage Control from ISS Group. The consideration for the acquisition is not being disclosed. ISS DC was established in 1983 and provides 24/7 damage control, rebuilding and emergency response services for fire and flood damage in Scandinavian commercial, industrial and residential properties.
Olympus Partners has acquired Par-Pak Ltd. Financial terms weren't announced. Covington, Ky.-based Par-Pak makes and markets upscale foodservice tableware. Barclays, RBC Capital Markets, GE Capital and Goldman Sachs provided financing. The Olympus team included Manu Bettegowda, Mike Horgan, Pete Tedesco and Griffin Barstis. News of the Par-Pak sale was reported by peHUB last month.
Oakville, Ontario-based BENEV Capital Inc. (BCI), a provider of solutions for the treatment of contaminated soil, has sold its Saint Ambroise, Québec-based waste treatment plant and related assets to a company controlled by the plant's current manager Jean-Francois Landry for up to $10 million. The transaction was approved by BCI shareholders in May. BCI is a portfolio company of Canadian private equity firm Second City Capital Partners.
British water company Severn Trent PLC has rejected a second approach by LongRiver Partners, according to a statement from Severn's board of directors. LongRiver is a consortium comprised of Borealis Infrastructure Management, the infrastructure investment arm of Ontario Municipal Employees Retirement System, Kuwait Investment Office and U.K.-based Universities Superannuation Scheme. The latest bid valued Severn at about £5 billion, or US$7.6 billion, up from the previous US$7.2 billion valuation in May, according to Reuters. The board said the new offer failed to reflect Severn's long-term value and potential.
Longueil, Québec-based Mediagrif Interactive Technologies Inc., a publicly-traded provider of e-commerce solutions to businesses, has agreed to buy online recruitment platform Jobboom and dating site Réseau Contact from Quebecor Media Inc. for $65 million. The Jobboom acquisition will occur in June, while the Réseau Contact acquisition is likely to take place in October. Mediagrif is a portfolio company of the Fonds de solidarité des travailleurs du Québec FTQ.
Blainville, Québec-based Les Brasseurs du Nord Inc., a micro-brewery that produces Boréale beer, has been acquired by Canadian private equity firm Fonds de solidarité des travailleurs du Québec FTQ. The financial details of the majority transaction, which is intended to address succession issues, were not disclosed. PeHUB Canada has learned that Fonds FTQ introduced the company's new top executive, Jacques Sirois, as well as the company's new board chair, Daniel Tremblay.