Sterling Partners has sold Paradigm Management Services to Lightyear Capital. Financial terms of the deal, which closed Feb. 1, were not announced. Walnut Creek, Calif.-based Paradigm provides healthcare management services. News of the transaction was announced by Harris Williams which provided financial advice to Paradigm.
Granite City Food & Brewery, which is backed by CIC Partners, has acquired the assets of five Cadillac Ranch All American Bar & Grill restaurants for an aggregate purchase price of about $6.2 million. The restaurants are located in Minnesota, Miami, Maryland and Indianapolis. Granite City also bought certain Cadillac Ranch intellectual property, including trademarks, for about $1.5 million. Granite City has agreed to buy the assets of a sixth Cadillac Ranch restaurant, in Pittsburgh, subject to issuance of the required liquor license.
H.I.G. Capital said Wednesday that it has closed the sale of Service Net to Chartis U.S., a subsidiary of AIG. Financial terms were not announced. Jeffersonville, Ind.-based Service Net offers extended warranty programs for products including major appliances and consumer electronics.
It appears that Northern Trust Corp. has been gearing up for a new round of private equity fundraising. The Chicago banking company, best known as a custodian of assets for companies and institutional investors, has filed paperwork for a clutch of new funds encompassing both buyout and venture capital strategies. The documents don’t say so, but Northern […]
Platinum Equity has sold Canvas Systems, a supplier of IT hardware and services, to publicly traded Avnet Inc. Terms were not released. Platinum acquired controlling interest in Canvas in 2009 from OHC. OHC retained a minority interest in Canvas, which it also sold as a part of the deal.
Buyout shop Riverside Company has acquired YourMembership.com Inc., a provider of web-based membership management software. Terms were not released. YourMembership.com was formed in 1998.
D.A. Davidson & Co., a middle market advisor, has acquired McGladrey Capital Markets. Financial terms weren't disclosed. The deal will expand D.A. Davidson's expertise to include aerospace & defense, basic materials and packaging, as well as food and beverage.
Executive search firm CTPartners said that it will acquire J-M. Beigbeder - CEO Search, a Paris-based executive search firm. Terms of the deal were not released.
Wellspring Capital Management announced that it has acquired ThermaSys Corp., a maker of heat exchangers and heat exchange equipment. Terms of the deal were not released. Wellspring bought the company from Sun Capital Partners.
A consortium of investors including CPPIB has completed the acquisition of a 24.1% stake in the Gassled Joint Venture from Statoil ASA. The buyer is Solveig Gas Norway AS, a holding company that is approximately 40% owned by CPPIB; 30% by Allianz Capital Partners, a subsidiary of Allianz SE; and 30% by Infinity Investments SA, a wholly owned subsidiary of the Abu Dhabi Investment Authority. The total value of the transaction is approximately C$3.18 billion.