Inflexion Private Equity Partners has sold Pims Group, the wastewater services company, to US buyer Xylem, a water technology company, for a headline price of $57 million. Taylor Wessing advised Inflexion.
New York-based specialty finance company Abacus Finance Group provided $16 million in senior secured credit facilities to support the acquisition of Dexmet Corporation by Sverica International Management, the firm announced. Based in Wallingford, Conn., Dexmet makes highly engineered expanded foils and polymers used in various applications.
Veronis Suhler Stevenson has put an undisclosed amount into Thomsons Online Benefits Ltd., a SaaS-based benefit and pension administration, workflow and reporting company. The investment was made in conjunction with ABRY Partners' acquisition of Thomsons.
Intervale Capital has formed Certus Energy Solutions, partnering with the company’s management team on the deal. Certus, based in Houston, Texas, is provides oil country tubular goods and other downhole products. Terms of the deal were not released.
Icahn Enterprises said it had entered into a confidentiality agreement with Dell Inc., and looked forward to commencing a review of the company, Reuters reported Monday. Carl Icahn, who has a reputation for demanding changes after amassing stakes in companies, argued in a letter to Dell's board last week that the proposed $24.4 billion buyout of Dell by co-founder Michael Dell and Silver Lake Partners short-changed shareholders, undervalued the company and benefited mainly the company's co-founder.
Hostess Brands Inc. creditor Silver Point Capital and hedge fund Hurst Capital have expressed interest in buying Hostess's snack cake brands, including Twinkies, the New York Post reported. Silver Point Capital sent a letter to Hostess's bankers in the last few days expressing interest in buying all or part of the business, the Post said, citing a source. Hurst Capital, which said in November it wanted to buy Hostess's business, has formed a partnership with other private-equity firms to make an offer, the Post said.
U.S. private equity firm Cerberus Capital Management LP wants to boost its stake in Japanese railway and property group Seibu Holdings Inc. by as much as 4 percent as Seibu plans to relist its shares, Reuters reported. Cerberus, which has already paid more than 100 billion yen ($1.04 billion) to become Seibu's biggest shareholder, will try to buy shares in Seibu from other owners via a public tender. It aims to gain greater control over the firm by raising its stake to as much as 36.44 percent from the current 32.4 percent, Cerberus said in a statement on Monday.
Numeric Investors is putting itself up for sale, writes Reuters. The quantitative equity manager, with $7.7 billion in assets under management, has hired Barclays to oversee the sale, writes Reuters.
NXP Semiconductors principal stockholders including AlpInvest Partners, Apax Partners, Bain Capital Partners and Silver Lake Technology Management have started a registered secondary offering of 25,000,000 shares of common stock pursuant to NXP's shelf registration statement on Form F-3. NXP will not receive any proceeds from the sale of shares in the offering.
Bain Capital Ventures' portfolio company, ABILITY® Network has entered into an agreement to merge with Stamford, CT-based IVANS, a provider of secure insurance data communication services. Ability has also entered into an agreement to sell the property and casualty business of IVANS to Applied Systems, a provider of insurance software. ABILITY and Applied Systems are portfolio companies of Bain Capital Ventures and Bain Capital, respectively.