KED and BDT Capital to acquire stake in Truck-Lite

Koch Equity Development LLC and BDT Capital Partners LLC have agreed to acquire Falconer, New York-based Truck-Lite, a provider of safety lighting and filtration systems for commercial vehicles. No financial terms were disclosed for the deal that’s expected to close in the fourth quarter of this year. Baird and Wells Fargo provided financial advice to Truck-Lite on the transaction while Barclays did likewise for KED. Truck-Lite is currently owned by Penske Corp (which will retain an ownership stake in Truck-Lite) and Kelso & Company.


PE HUB Second Opinion

In Second Opinion, Apple and Cisco form a partnership to spur sales of iPhones and iPads, India accuses Google of rigging its search results and from the oh really department, Ashley Madison is claiming more than 87,000 women have joined the site since last week.


Highstar Capital-backed Advanced Disposal files for IPO

Advanced Disposal, a provider of solid waste collection, transfer, recycling and disposal services, has filed for an IPO. The number of shares the stock will sell as well as its pricing terms have yet to be set. Deutsche Bank Securities, Credit Suisse and Barclays are serving as the lead underwriters. Advanced Disposal is backed by Highstar Capital.


Blackstone to sell AVINTIV to Berry Plastics for about $2.45 bln

Berry Plastics Group Inc has agreed to acquire AVINTIV from The Blackstone Group LP for about $2.45 billion. The deal is expected to be completed by the end of the year. Credit Suisse and Barclays provided financial advice to Berry Plastics on the transaction while Citi and BofA Merrill Lynch did likewise for AVINTIV and Blackstone. Headquartered in Charlotte, North Carolina, AVINTIV is a specialty materials provider used in infection prevention, personal care, and high-performance solutions.


PE HUB First Read

First Read ushers in the week with news that Barclays is reportedly planning on downsizing more than 30,000 jobs, grocery store chain A&P files for bankruptcy again and hackers steal user data from online cheating site Ashley Madison and threaten to leak it. Oops.


Partners Group to acquire Knowledge Universe’s U.S. early childhood education unit

Partners Group has agreed to buy Knowledge Universe‘s U.S. early childhood education business. No financial terms were disclosed for the transaction that is expected to be completed later this year. Joel Schwartz, private equity managing director at Partners Group will join KUE LLC’s board after the deal closes. Credit Suisse, Barclays, BMO Capital Markets, Goodwin Procter LLP and KPMG LLP are advising Partners Group on the deal. KUE LLC is the parent company of KinderCare Learning Centers.


PE HUB First Read

First Read ushers in your morning with news that Chinese Uber rival Didi Kuaidi has raised $2 billion in funding, massive layouts are expected at Microsoft and Greece is given until Sunday to settle debt crisis or face disaster.


Goldsmith teams up with Stone Point to form Cross Ocean Partners

Graham Goldsmith and Stone Point Capital have launched Cross Ocean Partners, an asset management platform focused on stressed and distressed credit investment opportunities. Goldsmith, Stone Point and management provided $240 million to Cross Ocean. A former head of global credit and special situations at Bank of America Merrill Lynch, Goldsmith will serve as Cross Ocean’s CEO and co-chief investment officer. In addition to the launch, Cross Ocean has acquired Capula Investment Management‘s European special situations business. No financial terms were disclosed. Barclays provided financial advice to Capula on the transaction.


Madison Dearborn to acquire Patterson Medical for about $715 mln

Madison Dearborn Partners has agreed to buy Patterson Companies Inc‘s medical business Patterson Medical for about $715 million in cash. The transaction is expected to be completed in the fiscal second quarter. BofA Merrill Lynch served as financial advisor to Patterson Companies while Barclays and Deutsche Bank advised MDP.


PE-owned NEP files for IPO

Pittsburgh-based mobile teleproduction services provider NEP Group Inc has filed for an IPO. The number of shares that will be sold as well as the stock’s pricing terms have yet to be set. The company plans on listing the stock on the New York Stock Exchange under the ticker symbol “NEPG.” Barclays and Morgan Stanley are serving as the lead underwriters. NEP is owned by Crestview Partners.


FFL to sell garage doors maker CHI to KKR

KKR is buying Arthur, Illinois-based C.H.I. Overhead Doors, a maker of residential and commercial garage doors. The seller is FFL. No financial terms were disclosed. Barclays and Credit Suisse provided financial advice to CHI and FFL on the transaction.

May 16, 2015; Baltimore, MD, USA; Victor Espinoza aboard American Pharoah celebrates winning the 140th Preakness Stakes at Pimlico Race Course. Mandatory Credit: Peter Casey-USA TODAY

PE HUB Second Opinion

In Second Opinion, Stifel is planning on buying former Lehman brokerage from Barclays, Apple unveils iOS 9 as well as a new music service at its annual Worldwide Developers Conference and American Pharoah’s Triple Crown win is supposedly a bad omen for stocks.


2x Partners exits Preferred Brands International

2x Consumer Products Growth Partners has sold its stake in Preferred Brands International while Kagome Co. Ltd has acquired a majority stake in it. No financial terms were disclosed. Barclays was financial advisor to Preferred Brands on the transaction. Based in Stamford, Connecticut, Preferred Brands is a maker of food products under the TASTY BITE brand.


Apollo agrees to buy Protection 1 and ASG Security

Apollo Global Management LLC has agreed to acquire two security monitoring companies Protection 1 and ASG Security. No financial terms were disclosed for the transaction that is expected be completed in mid-2015. Both companies will merge and operate under the Protection 1 brand. Credit Suisse, Barclays, Deutsche Bank, Jefferies and RBC are providing the financing for the deal. Morgan Stanley and Raymond James are providing financial advice to Protection 1 while Goldman Sachs is doing likewise for ASG Security.

GTCR closes Fundtech sale

GTCR said Friday it closed its sale of portfolio company, Fundtech, to DH Corp. The deal was valued at about $1.25 billion New York-based Fundtech provides software that facilitates payment processing, cash management, and financial messaging products for financial institutions and corporate customers. Barclays and RBC Capital Markets LLC advised Fundtech.


Permira to sell Iglo Group to Nomad for 2.6 bln euros

Permira has agreed to sell Iglo Foods Holdings Limited to Nomad Holdings Limited for 2.6 billion euros. The deal is expected to close in the second quarter of this year. Centerview Partners was exclusive financial advisor to Permira while Barclays and UBS Investment Bank were financial advisors to Nomad. Europe-based Iglo Group is a provider of frozen food.

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