Apollo to acquire OM Group for $34 per share

Apollo Global Management LLC has agreed to acquire OM Group, a diversified industrials company, for $34 per share in cash. Also, Platform Specialty Products will buy OM Group’s electronic chemicals and photomasks business from Apollo in two separate deals for a total cash consideration of $365 million. Following these transactions, Apollo will own OM Group’s magnetic technologies, battery technologies and advanced organics businesses. BNP Paribas is serving as financial advisor to OM Group while Deutsche Bank Securities Inc is doing likewise for OM Group’s board of directors. Also, Lazard and Credit Suisse are serving as financial advisors to Apollo.


Monroe Capital closes $412 mln CLO

Monroe Capital has closed a $412 million term debt securitization known as Monroe Capital BSL CLO 2015-1. According to the company, this is the second CLO that Monroe has closed in the last six months. BNP Paribas served as the lead manager, structuring agent and bookrunner.


Tribeca exits stake in TPL

Tribeca has sold its stake in Termocandelaria Power Limited (TPL) to a consortium of previous minority shareholders as well as institutional investors. No financial terms were disclosed. BNP Paribas and Banicol provided financial advice on the transaction. Based in Columbia, TPL is the owner of thermal power generation companies Termocandelaria and Termobarranquilla.


SK Capital buys AEB Global

SK Capital Partners has acquired a controlling stake in AEB Global. Financial terms weren’t announced. Sellers include Investindustrial, which will retain a minority stake along with AEB management. Brescia, Italy-based AEB provides products and services for winemakers, beer brewers and other food and beverage producers. UniCredit S.p.A. acted as M&A advisor to SK Capital. BNP Paribas, Italian Branch and UniCredit provided committed debt financing for the transaction


Mason Wells sells Paris Presents to Wasserstein & Co.

Wasserstein & Co. has bought Paris Presents from Mason Wells. No financial terms were disclosed. Ontario Pension Board and Northwest Mutual are co-investing in the deal. BNP Paribas provided the financing for the transaction. Based in Gurnee, Illinois, Paris Presents is a provider of beauty products and personal care accessories.


Astorg Partners invests in M7

Astorg Partners is planning on acquiring a majority stake in CDS Topco from an investor group led by Providence Equity Partners. No financial terms were disclosed, which is expected to be completed in the third quarter of this year. Deutsche Bank and BNP Paribas advised Providence on the transaction while Emendo Capital advised Astorg. As a result of the deal. Providence and Airbridge Investments B.V will retain “significant’ minority stakes in CDS, which operates under the name M7. Headquartered in Luxembourg, M7 is a provider of DTH satellite services.


peHUB First Read

To end your late spring week, First Read has news Donald Sterling ruled mentally unfit to reject the sale of the L.A. Clippers, National Spelling Bee ended in a tie, KKR loan rejected by nervous banks and mysterious man-eating holes appearing in Indiana.

Ardian-backed Novacap completes refinancing

French chemicals group Novacap, which is backed by Ardian, has closed a refinancing on the high-yield bond market for 310 million euros. Also, the company has received a revolving credit facility of 65 million euros. Goldman Sachs was the lead bookrunner on the transaction with support from Deutsche Bank, BNP Paribas and Societe Generale.

J.F. Lehman Buys ACR Electronics

J.F. Lehman & Co. said Monday that it has acquired ACR Electronics. Financial terms weren’t disclosed. Chelton Avionics, subsidiary of Cobham, was the seller. ACR Electronics is a global provider of safety products and solutions to the aviation, marine, military and commercial markets. BNP Paribas provided debt financing. PRESS RELEASE J.F. Lehman & Company (“J.F. […]

Slideshow: The Private Equity Exodus

The last couple of years have seen a steady trickle of banks and insurers selling private equity assets and other non-core units as regulators globally toughen capital requirements.

In the US, the Volcker Rule, a part of the financial regulatory overhaul law that limits proprietary trading, or investments by banks using their own capital, has been forcing banks to sell part or all of their private equity portfolios.

In Europe, banks are selling their private equity assets to boost their balance sheets to prepare for the Basel III reform package which will impose capital constraints on investments. The new rules will come into force on January 1, 2013, with full implementation by 2019.

Today, we’ll take a look at some of the US and European institutions who have been offloading their private equity assets and what prices they have been getting. It also includes a couple that are on the sales block waiting to make their announcement. There are also a few among the bunch that, since being spun out, have commenced efforts–with varying degrees of success–to raise new funds. How successful these PE shops will be independently in some cases remains to be seen…

Apollo in Talks to Buy El Paso Unit

Indian energy giant Reliance Industries is among companies in talks to buy the exploration and production (E&P) unit of US pipeline company El Paso Corp, Bloomberg reported, citing unnamed people with knowledge about the matter, reports Reuters. Private equity firm Apollo is among the other companies in talks for the unit, which is estimated to […]

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