Nelson Global Products Inc., which is backed by Wind Point Partners, has acquired Envall. Financial terms weren't announced. Envall, of Rio Grande do Sul, Brazil, makes tube and hose assemblies.
Platte River Equity has sold Hetsco to Global Power Equipment Group. Financial terms weren't announced. Greenwood, Ind.-based Hetsco provides emergency and planned repairs for brazed aluminum heat exchangers. St. Charles Capital served as financial advisor to Hetsco while TM Capital provided financial advice to Global Power.
A private equity group made up of Bain Capital and Golden Gate Capital Corp has emerged as the lead contender to buy BMC Software Inc for more than $6.5 billion, writes Reuters. Bain and Golden Gate, which made a binding bid for the business software maker on April 22, offered more than a rival consortium of KKR & Co LP, TPG Capital LP and Thoma Bravo LLC, writes Reuters.
Panoramic Growth Equity has invested 1.8 million pounds ($2.8 million) in Andante Travels, a UK-based archaeological travel provider. This is the fifth investment for Panoramic’s Enterprise Capital Fund I.
REBgold Corp., a Toronto-based company which acquires and develops interests in gold assets, has close the first tranche of an investment received from British mining-focused private investment firm Baker Steel Capital Managers. The investment is part of a deal valued up to $2.5 million. REBgold will use the proceeds to investigate new opportunities, to continue investing in gold projects in Finland, and for working capital.
Waterton Global Resource Management, a Toronto-based private equity firm focused on investments in the precious metals sector, has won its bid for the Hollister gold mine and the Esmeralda Mill in Nevada. The acquired assets, purchased through a court-supervised auction, were formerly owned by Great Basin Gold Ltd. Waterton's competitors for the Nevada assets were primarily traditional mining companies. The transaction is expected to be completed on May 17, 2013.
Three out of five participants in peHUB's reader poll expect M&A activity to pick up from the slow conditions during the first quarter.
U.S. private equity firm Resource Capital Funds (RCF) announced it is "extremely disappointed" in the decision of its portfolio company, Selwyn Resources Ltd., to delay holding board elections. RCF said it "fears that the current illegitimate board cannot be trusted with the assets of Selwyn any longer." The Vancouver-based Selywn is a metals exploration and development company with a core zinc-lead project located in Yukon, the sale of which is in contention.
Radiant Communications Corp., a Vancouver-based provider of managed network and cloud hosting solutions, has terminated the March agreement to be 100% acquired by Canadian private equity firms Maxam Capital Corp. and PenderFund Capital Management. The decision follows a subsequent offer made in April by Frontier Networks Inc., a custom data and networking programs company based in Toronto. Radiant indicated that a committee of its independent directors had determined Frontier's was the "superior proposal."
Homburg Invest Inc., a Dartmouth, Nova Scotia-based manager, acquirer and developer of real estate, has ended discussions with private equity firm Catalyst Capital Group, which specializes in control investments in distressed and undervalued situations. As the company and Catalyst were unable to reach agreement, Homburg has filed an amended restructuring plan and related materials to parties to Companies Creditors' Arrangement Act proceedings.