The Blackstone Group has agreed to buy Dutch tax consultancy Intertrust for a reported 675 million euros ($883 million). Blackstone agreed to buy Intertrust from Dutch private equity firm Waterland in a deal expected to close in coming months after obtaining regulatory approvals, Intertrust said on its web site. No financial details were given but Dutch daily Het Financieele Dagblad estimated Blackstone paid about 675 million euros, citing market talk of a price of about nine times Intertrust's gross operating profit.
A consortium led by Canadian private equity firm KingSett Capital said on Wednesday it plans to make an offer to acquire Primaris Retail Real Estate Investment Trust in a deal valued at about C$4.4 billion, Reuters wrote. The cash offer of C$26 per unit represents a premium of about 12.8 percent to Primaris's closing price of C$23.04 on the Toronto Stock Exchange on Tuesday.
Germany's Intersnack group is to buy KP Snacks, Britain's second largest savory snacks maker, from United Biscuits, Reuters reported Wednesday. No financial details were disclosed for the deal, which is expected to close in the first quarter of 2013, the two companies said. KP Snacks, which makes Hula Hoops and KP Nuts, was put up for sale earlier this year by United Biscuits' private equity owners Blackstone and PAI Partners, which were seeking about 500 million pounds for the business.
KBC Private Equity has reached an agreement with KeBeK I, a newly established private equity investment fund managed by KeBeK Management NV, regarding the sale of the major part of KBC PE's remaining private equity portfolio. KeBeK Management NV has launched KeBeK I with the backing of LGT Capital Partners.
FleetCor Technologies has completed its previously announced purchase of approximately 3.85 million shares of FleetCor common stock at $51.91 per share pursuant to a share repurchase agreement with certain of its private equity shareholders associated with Summit Partners and Bain Capital. The share repurchase was effected in a private transaction and FleetCor funded the $200 million aggregate purchase price with borrowings under its credit facilities.
Calera Capital has acquired Competitor Group, a global media and event entertainment company. The deal represents Calera’s seventh investment from Fund IV.
Sun Capital Partners has completed the acquisition of Polycom's Enterprise Wireless Communications business. The acquired business operates under the SpectraLink and KIRK telecom brands.
British retail billionaire Philip Green is in advanced talks with a U.S. private equity firm over the sale of a 25 percent stake in high street chain Topshop and Topman, a source familiar with the matter told Reuters.
ICV Partners of New York, a private equity firm focused on lower middle market companies, has acquired San Ramon, Calif.-based Safe Security, maker of residential and commercial security alarm systems. Terms of the deal were not disclosed.
BDO, the accounting and consulting organization, has named Todd Kinney Relationship Director for the firm's national private equity practice. In the role, Kinny, who joined BDO in 2003, will be responsible for implementing the firm's private equity industry growth strategy by sourcing new PE clients and opportunities.