Spain's Bankinter has joined forces with U.S. investment fund Apollo Global Management to bid for Italian insurer Generali's Swiss private bank BSI in a deal worth up to 2 billion euros ($2.6 billion), three people with knowledge of the matter said on Tuesday, Reuters reported. Brazilian bank Safra and Chinese rival ICBC are also bidding for BSI, two of the people said.
AXA Private Equity has arranged a 220 million euro ($287 million) unitranche facility for the acquisition of IPH by PAI Partners from Investcorp. The deal represents the largest unitranche financing in Europe to date. IPH is a distributor of industrial supplies in Europe.
Terawatt has secured a significant initial investment from Sorenson Capital Partners. The funding will enable Terawatt to hire key talent, build a robust back-office platform, and secure its position in the U.S. residential solar market.
Chicago Growth Partners has completed a dividend recapitalization of Advanced Pain Management. Pain management group APM has 30 board certified physicians performing the advanced interventional pain management procedures on patients suffering from chronic neck and back pain.
Salt Creek Capital has acquired Warne Scope Mounts. Located in Tualatin, Oregon, Warne is a supplier of riflescope accessories.
Feihe International, a producers and distributors of infant formula, milk powder, and soybean, rice, and walnut products in the People's Republic of China, is being taken private by Morgan Stanley Private Equity Asia. The deal is valued at US$147 million and expected to close in the second quarter of 2013. O’Melveny & Myers advised the Special Committee of the board of directors of Feihe International.
KKR is nearing a deal to buy industrial machinery maker Gardner Denver Inc and could announce the agreement in the next few days, writes Reuters. The two parties have been negotiating a final deal price and other last-minute details over the past week, after KKR bid $75 per share, or nearly $3.7 billion, for Gardner Denver, on Feb. 21, writes Reuters.
Blue Point Capital Partners has recapped Shnier-Gesco Limited Partnership, a distributor of floor coverings in Canada. Terms were not disclosed. Blue Point has offices in Charlotte, Cleveland, Seattle, and Shanghai.
Los Angeles-based buyout shop The Gores Group has completed its acquisition of GE Healthcare Strategic Sourcing from GE Healthcare. Terms of the transaction, which was led by The Gores Small Capitalization Partners, were not disclosed. Wilbraham, Mass.-based GE Healthcare Strategic Sourcing provides electronic billing and electronic medical records outsourcing.
Investcorp has completed its sale of IPH Group to Paris-based buyout shop PAI Partners. IPH Group is a distributor of industrial supplies in Europe. Investcorp acquired the company in June 2006. Investcorp said the deal generated some “210 million euros of realization proceeds.”