Fifth Street Finance Corp. said on Thursday that it has closed its $114 million acquisition of Healthcare Finance Group, LLC. Also, Dan Chapa, who previously served as HFG's president replaces HFG's former CEO and founding member, Isaac Soleimani. For the transaction, Keefe, Bruyette & Woods and UBS Investment Bank acted as financial advisors to HFG while Greenhill & Co. acted as financial advisor to Fifth Street. HFG is a specialty lender providing asset-based lending and term loan products to the healthcare industry.
Private equity firm BC Partners is on the verge of clinching the purchase of German publisher Springer Science for somewhere in excess of 3 billion euros, sources told Reuters.
William Nygren, a top manager at Oakmark Funds, said he remains bullish on Apple Inc and Bank of America Corp, but is still avoiding Dell Inc in light of the company's plans to take the computer maker private, writes Reuters. Nygren, a noted value investor who runs the $9.6 billion Oakmark Fund, said Apple is undervalued while Bank of America has one of the top management teams in the banking industry.
Salvepar has committed to invest US$7 million in Latin America Power Holding, a developer and operator of renewable energy projects in Chile and Peru, with a staff of approximately 65 employees. This investment by the company comes as part of a capital increase in LAP led by LAP existing shareholders.
Harbert Private Equity Fund II has sold PWI Holding to KAR Auction Services Inc. KAR is the holding company for ADESA, Insurance Auto Auctions and Automotive Finance Corporation. ADESA is a provider of wholesale used vehicle auctions with 67 North American locations and its subsidiary OPENLANE provides an Internet automotive auction platform.
Peterson Partners has acquired Angoss Software Corporation for $8.4 million. Angoss delivers predictive analytics to businesses looking to improve performance across sales, marketing and risk.
The Norweigian partner in Hansen Protection Canada Ltd., Hansen Protection AS, which last year established the Canadian operation in a joint venture with Darmouth Nova Scotia-based Helly Hansen Canada Ltd., has been sold for an undisclosed price by Montagu Private Equity. The buyer was another European private equity firm, IK Investment Partners. Hansen Protection Canada specializes in the development of survival suits. Teachers' Private Capital took a majority position in Norway's Helly Hansen AS in 2012.
Toronto-based North American Palladium Ltd. (NAP), a precious metals producer focused on its Lac des Iles mine in Ontario, has obtained a US$130 million senior secured term loan from Brookfield Capital Partners, the private equity group of Brookfield Asset Management. NAP will use the proceeds of the debt financing, which matures in 2017, to repay senior secured notes, fund capital expenditures related to expanding the company's Ontario mining project, and for general business purposes.
Sycamore Partners said Wednesday it closed its buy of Hot Topic. The deal is valued at about $600 million. Guggenheim Securities advised Hot Topic. Sycamore announced its buy of Hot Topic, a teen retailer, in March.
Brookfield Property Partners LP (BPY), the recently spun-out commercial real estate platform of Toronto-based Brookfield Asset Management, has joined with its institutional partners to acquire U.K.-based EZW Gazeley Ltd., a developer of logistics warehouses and distribution parks. The seller in the undisclosed deal was Economic Zones World, part of the state-owned Dubai World. BPY will take an approximate 30% stake in the company.