Private equity firm CVC is in talks on a bid for Britain's largest retirement home builder McCarthy & Stone, writes Reuters. The firm is expected to team up with Alan Bowkett, who resigned as McCarthy & Stone chairman last week, to try to buy the company, which is owned by a number of banks and hedge funds.
Best Buy Co has turned down a $1 billion minority investment proposal by founder Richard Schulze's three private equity partners, writes Reuters. Under the proposal, Leonard Green Partners, Cerberus Capital Management and TPG Capital would have each received a seat on the board of the world's largest electronics retailer, writes Reuters.
KRG Capital Partners' portfolio company Fort Dearborn Company has completed the acquisition of FetterGroup’s paint & coating labels business. KRG made its initial investment in Fort Dearborn Company in August 2010 and the acquisition of FetterGroup’s paint & coatings label business represents the 179th investment for KRG since its inception. Fort Dearborn Company is a supplier of cut and stack, pressure sensitive, roll-fed and shrink sleeve labels.
TDBBS, a Richmond, VA-based manufacturer and marketer of all natural dog treats and chews, has completed a minority investment by Culbro, a family-controlled private equity firm based in New York City. Terms were not disclosed.
Fixtures Living has announced a strategic partnership with Catterton Partners. The partnership will support the expansion of the company throughout the United States. Fixtures Living is a retail concept specializing in providing customers a tailored assortment of premium lifestyle products for the home. Terms of the transaction were not disclosed.
Praxair has acquired NuCO2 for $1.1 billion from Aurora Capital Group. NuCO2 is a provider of fountain beverage carbonation in the US with approximately 162,000 customer locations and 900 employees.
Synteract, a full-service contract research organization has completed its acquisition of Harrison Clinical Research to form a new multinational business – SynteractHCR. Synteract is a portfolio company of San Francisco-based Gryphon Investors.
Solar finance provider OneRoof Energy has secured an agreement for the acquisition of up to $100 million in residential solar projects with MS Solar Holdings Inc, an indirect, wholly-owned subsidiary of Morgan Stanley and Main Street Power Company, a North American solar developer and owner/operator, through the expansion of their existing MySolarSM residential lease financing platform. Debt financing for the newest MySolarSM fund will be provided by National Bank of Arizona.
Maranon Capital has completed a mezzanine debt investment in Young Innovations to support affiliates of Linden Capital Partners in a public–to-private transaction valued at approximately $314 million. Maranon was agent for the lenders who provided a $65 million mezzanine tranche. Maranon also co-invested preferred and common equity in the transaction alongside Linden.
Lion Equity Partners has acquired International Mail Services, which was a U.S. division of Pitney Bowes. Financial terms were not announced. The business has been renamed IMEX Global Solutions and will be based in Newark, N.J.. IMEX is a provider of international mail logistics and distribution services.