Quilvest Private Equity sells ST Products to Waybill

By Iris Dorbian — 2 days ago

Waybill has acquired Small Tube Products, a redrawer of niche, small diameter copper and aluminum tubes. The seller was Quilvest Private Equity. No financial terms were disclosed for the transaction that was done with Dwight Anderson, founder of Ospraie Management.

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PE-backed ACProducts Inc to buy Elkay Wood Products Company

By Iris Dorbian — 2 days ago

ACProducts Inc, a portfolio company of American Industrial Partners, has agreed to acquire Elkay Wood Products Company, a maker of kitchen and bath cabinetry. No financial terms were disclosed. The deal is expected to close by the end of the first quarter of 2015. Jefferies LLC was financial adviser to Elkay Manufacturing Company on the transaction with Mayer Brown LLP serving as legal adviser. And, Ropes & Gray was legal adviser to ACProducts.

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Balmoral acquires VESTA Modular

By Iris Dorbian — 2 days ago

Balmoral Funds LLC have acquired an ownership stake in VESTA Modular, a provider of modular buildings. The sellers were Soaring Pine Capital LLC and Wells Fargo Central Pacific Holdings. No financial terms were disclosed.

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KPS Global acquires Custom Cooler

By Iris Dorbian — 2 days ago

KPS Global, which is backed by D Cubed Group LLC, has acquired San Dimas, California-based Custom Cooler, a maker of custom walk-in coolers, walk-in freezers and industrial cold storage applications. No financial terms were disclosed.

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LifePoint Health and Apollo-backed RCCH complete merger

By Iris Dorbian — 2 days ago

LifePoint Health Inc has closed its previously announced merger with RCCH HealthCare Partners, a portfolio company of Apollo Global Management. According to terms of the deal, LifePoint shareholders are receiving $65 per share in cash for each share of LifePoint’s common stock they owned. Also, LifePoint has stopped trading on the NASDAQ. The newly combined healthcare company will operate under the LifePoint Health name. LifePoint will remain based in Brentwood, Tennessee.

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Portfolio Advisors racks up about $1.18 bln for PE fund-of-funds

By Iris Dorbian — 2 days ago

Darien, Connecticut-based Portfolio Advisors, a private markets specialist, has closed its oversubscribed ninth global private equity fund-of-funds at about $1.18 billion, beating its $900 million target. The limited partners of Portfolio Advisors Private Equity Fund IX include private and public pension plans, university endowments, private foundations, insurance companies, family offices and high-net worth individuals. PA’s previous global private equity-fund-of-funds raised $1.22 billion in April 2016.

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American Securities buys CPM

By Iris Dorbian — 2 days ago

American Securities LLC has acquired Waterloo, Iowa-based CPM Holdings Inc, a provider of engineered process equipment to the animal feed, oilseed processing, extrusion and thermal processing markets. No financial terms were disclosed. BMO Capital Markets Corp acted as a financial adviser to American Securities while Jefferies LLC did likewise for CPM. And, Cypress Associates LLC also served as financial adviser to the CPM board and its majority shareholder.

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PE-backed Convey to merge with HealthScape and Pareto

By Iris Dorbian — 2 days ago

Convey Health Solutions, which is backed by New Mountain Capital, has agreed to merge with HealthScape Advisors LLC and Pareto Intelligence. No financial terms were disclosed. The newly combined company will create a healthcare payor technology and services platform. Leerink Partners advised HealthScape and Pareto with Dinsmore & Shohl LLP and Skadden, Arps, Slate, Meagher & Flom LLP providing legal counsel. And, Eir Partners advised Convey and New Mountain Capital while Ropes & Gray LLP was legal counsel.

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Colony Capital and HB2 launch new company

By Iris Dorbian — 3 days ago

Colony Capital Inc and HB2 have formed Colony HB2 Energy. Headquartered in Houston, Texas, the new company will provide investors direct access to oil and gas investment opportunities. Michael Bertuccio is leading HB2 Energy as president and CEO.

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