Recondo Technology has sealed a $20 million growth investment from Bregal Sagemount. Recondo makes cloud software and services designed to connect services to connect healthcare providers, payers and patients.
Private equity firm Electra has hired bank Rothschild to explore a sale or a refinancing of electronic animal identification company Allflex, which is worth about $1 billion, Reuters reported.
Starwood Property Trust Inc. and investment firm Starwood Capital Group said they would buy LNR Property LLC for $1.05 billion in cash to expand the trust's real estate servicing and financing business, Reuters reported. Diversified real estate investment firm LNR Property is owned by hedge funds Cerberus Capital Management, Oaktree Capital Management, commercial lender iStar Financial Inc and Vornado Realty Trust.
BFG Supply Co, a portfolio company of Tricor Pacific Capital, has acquired certain assets of Commerce Corporation. In connection with the transaction, BFG has expanded its operating footprint with the addition of Commerce's former Grand Rapids, Michigan facility, as well as the hiring of 50 employees.
Gresham Private Equity has exited 7city Learning through the sale of the business to Fitch Group. The sale represents a strong realisation for Gresham.
Darwin Private Equity is to sell its portfolio company Plum Baby Limited to Plum Organics, in return for shares in Plum Organics. The merged group will have over 150 products sold in over 13,000 stores internationally with retail sales in excess of $120 million.
Homburg Invest Inc., a Dartmouth, Nova Scotia-based manager, acquirer and developer of residential, commercial, retail and industrial real estate, expressed concerns about the partial tender offer by Catalyst Capital Group to holders of mortgage and other bonds. The company said in a statement that it believes the bid is "not in the best interests" of bondholders and might be "disruptive" of Homburg's restructuring process, which has been underway since 2007. Toronto's Catalyst specializes in control investments in distressed and undervalued situations.
Silver Lake Partners, which is trying to finalize a bidding group to take Dell Inc. into private ownership, has convened talks with Canada Pension Plan Investment Board (CPPIB), says a report by Reuters. Sources "with knowledge of the matter" said Silver Lake approached CPPIB and other limited partners in its most recent fund in an effort to close what might be the largest buyout since the global financial crisis, Reuters reported. CPPIB and Silver Lake have partnered in other major transactions, including the 2009 acquisition of Skype Technologies SA.
Premier Tech Ltd., which makes solutions for the processing and packaging materials, has bought the assets of Portugal's Mouldman - Gestão de Moldes SA, a manufacturer of rotomoulded plastic parts. The financial terms of the deal were not disclosed. Rivière-du-Loup, Québec-based Premier Tech has recently received backing from private equity firm Fonds de solidarité des travailleurs du Québec (FTQ).
Galson Laboratories Canada Inc., a subsidiary of New York's Galson Laboratories, Inc., has bought the Occupational and Environmental Health Laboratory (OEHL) of Hamilton, Ontario. The financial terms of the transaction were not released. For Galson Laboratories, which specializes in occupational and industrial hygiene analysis and monitoring solutions, the OEHL acquisition marks its fifth major expansion since the company was acquired by US private equity firm Bolder Capital in June, 2010. The Mississauga, Ontario-based Galson Laboratories Canada was founded in 2012.