Canadian mid-market private equity firm Fulcrum Capital Partners has made a $20 million equity investment in Tradesmen Enterprises LP, a facilities and pipeline construction contractor with a particular focus on modular fabrication based in Grand Prairie, Alberta. Founded in 2006, Tradesmen recently expanded the company's service area and has established site offices in both Chetwynd and Fort Nelson, British Columbia.
Summit Investments said on Friday that it has launched Polar System, which is is designed to gather 50,000 barrels of crude oil per day, in Williams County, North Dakota. Summit Investments (or Summit Midstream Partners, LLC) owns a 69% limited partnership stake in Summit Midstream Partners, LP, which is focused on exploring energy assets in North America. Summit Investments is headquartered in Dallas, TX with offices in Houston, TX, Denver, CO and Atlanta, GA.
Assisted Living Concepts announced on Thursday that its stockholders had approved TPG's previously announced plan to acquire the company. Under the agreement, ALC stockholders will receive $12 in cash for each share of Class A common stock while holders of ALC's Class B common stock will receive $12.90 in cash per share. The transaction is expected to close this summer. Assisted Living Concepts is a Wisconsin-based operator of housing for senior citizens.
Budco said Friday that it acquired South Shore Venture Enterprises. Financial terms weren't announced. Treasure Island, Fla.-based South Shore provides direct marketing to senior citizens and represents 38 Medicare Advantage and Medicare Supplement plans. Budco is backed by Glencoe Capital.
The Beekman Group said Thursday that it has recapped NorthStar Alarm Services. Financial terms were not announced. NorthStar’s founder, Jason Christensen, and the current management team, which will continue to lead the company and maintain a stake, took part, Beekman says. Orem, Utah-based NorthStar is a security alarm company.
AGY Holding Corp., which is backed by Kohlberg & Co., has reached an agreement in principle with its senior lenders, bondholders and metal lessor to restructure and recapitalize its capital structure. Aiken, S.C.-based AGY produces fiberglass yarns and high-strength fiberglass reinforcements. Craig Marcus, Steve Rutkovsky and Eric Elfman of Ropes & Gray provided legal advice for AGY/Kohlberg. John Pollack, Adam Harris, Ronald Risdon and Kurt Rosell of Schulte Roth & Zabel was the attorney for the majority bondholders.
Tick Data's management is buying the company and receiving funding from Tactex F1 Private Equity Fund. Neal Falkenberry, Tick Data's president, and Thomas Myers, Senior VP, will have two-thirds, while Tactex will have one-third, a spokeswoman says. Tick Data, which is headquartered in Great Falls, Virginia, provides time data for the equities, options and futures markets.
Private equity group HgCapital has put on ice a sale of Schleich, the German company that makes high-quality miniature animal figures and Smurfs toys, sources told Reuters.
Capital markets data provider Tick Data Inc., based in Great Falls, Virginia, has been bought back by the company's former management team for an undisclosed amount. The buyback deal was led by Neal Falkenberry and Thomas Myers with additional funding coming from Tactex F1 Private Equity Fund, which is managed by Montréal-based Tactex Asset Management. Tick Data was previously owned by Penson Worldwide Inc. and Canadian financial institution Desjardins Group.
Laval, Québec-based Altasciences Group, which through a group of companies, including Algorithme Pharma Inc., provides early-stage clinical drug development services in Phase I and Phase II testing, has bought Vince and Associates Clinical Research of Overland Park, Kansas, which operates in the same sector. The acquisition price was not disclosed. Altasciences-Algorithme is a portfolio investment of Canadian mid-market buyout firm Kilmer Capital Partners. Kilmer has been invested in the holding company's assets since 2007.