NuCO2 and Praxair Inc. formed a strategic alliance that includes a long-term supply agreement for NuCO2's purchase of bulk CO2 and beverage carbonation related high pressure cylinder gases from Praxair. NuCO2 also acquired certain of retail beverage carbonation business assets in the U.S. from its new partner. NuCo2 is a supplier of beverage carbonation services. It is owned by Los Angeles-based Aurora Capital Group.
Federal Capital Partners and New York-based Angelo, Gordon & Co. sold the Grove Park, which is a 684-unit garden-style residential community in Gaithersburg, Md and the 858-unit Charleston Manor apartment community in Ellicott City, Md. Grove Park was sold to an affiliate of Avalon Bay. An affiliate of Home Properties is now the owner of Charleston Manor.
Apollo Management has bought a 51% stake in EVERTEC, a unit of Popular Inc., through a joint venture. Popular, a bank holding company in Puerto Rico, will receive about $570 million while the JV is valued at $868 million. As part of the deal, EVERTEC gets Popular's merchant acquiring and processing and technology business.
Global consulting firm Stroz Friedberg has just raised a $115 million round from the New York-based private equity firm New Mountain Capital, in exchange for a 50% ownership stake. The rest of Stroz Friedberg is owned by Greenhill Capital Partners II LP, Stroz Friedberg’s initial private equity investor, and employees. PRESS RELEASE: Stroz Friedberg’s unsurpassed […]
Don’t expect PE firms to be major acquirers of failing bank institutions, says John Kanas, BankUnited’s chairman, president and CEO. Kanas, who spoke Thursday at the Bloomberg Dealmakers Summit, said there will be a “substantial amount” of M&A in the banking sector due to over-capacity and weak financial institutions. But any mergers will be between the banks themselves and PE will probably not be part of it, he said.
Thoma Bravo has completed its buy of LANDesk Software. Salt Lake City-based LANDesk provides systems lifecycle management, endpoint security and IT service management. The seller was Emerson Electric Co., which acquired LANDesk via its $1.2 billion buy of Avocent in 2009. Avocent itself bought LANDesk in 2006 for $416 million. LANDesk’s software “lets corporate IT departments manage all endpoints, like PCs or mobile devices,” says Seth Boro, a Thoma Bravo principal.
Private equity firm CVC is expected to receive bids of between EUR1 billion to EUR1.2 billion ($1.4 billion to $1.6 billion) for Mivisa, the Spanish food-can maker. Fellow private equity firms Blackstone, Carlyle , and Apollo are said to be circling, according to a Reuters report. First round bids are expected on Friday.
Providence Equity Partners, a Rhode Island-based private equity firm, is selling a 16.7 percent take in Kabel Deutschland, a German cable television group. Deutsche Bank is handling the deal. Kabel Deutschland’s current share price is EUR28.1 ($38.17), which would mean a cash price of around EUR420 million ($573 million) for the stake.
Six3 Systems Inc., which is backed by GTCR, has bought Novii Designs. Novi provides large scale data fusion systems, cyber solutions and high-end enterprise architectures to the Intelligence Community. Financial terms were not disclosed. GTCR is a Chicago PE firm.
Bertram Capital, a San Mateo PE shop, has promoted Jared Ruger and Kevin Yamashita to partner. Bertram made the announcements in separate releases. Ruger is founding member of Bertram and was formerly with Oak Hill Capital Management. Yamashita was previously with Calera Capital.