102 Views

Hallcon sale to produce 34% IRR for Southfield Capital

Southfield Capital said Tuesday that it closed the sale of Hallcon Corp. to Novacap. Toronto-based Hallcon provides specialty outsourced services primarily to the railway, transit and oil and gas sectors in North America. This sale resulted in a gross return to Southfield of 3.3x and 34 percent IRR; after its expected earn out the return for Southfield should rise to 3.6x and 37 percent IRR on a pure operating basis, a source said. Lazard acted as lead financial advisor and BB&T Capital Markets acted as co-financial advisor to Hallcon.

190 Views

Ardian-backed Novacap to buy CU Chemie Uetikon

French chemicals group Novacap, which is backed by Ardian, has agreed to acquire CU Chemie Uetikon, a Germany-based maker of pharmaceutical substances. The seller is Equistone Partners Europe. No financial terms were disclosed.

631 Views

Novacap inks buy of Dialogic

Novacap has agreed to buy Dialogic for total cash consideration of $35.3 million. Sellers include Tennenbaum Capital Partners. Once the deal closes, Novacap will own more than 90 percent. Parsippany, N.J.-based Dialogic provides communications technology for networks. Sagent Advisors provided financial advice to Dialogic.

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.

Novacap Buys Idaho Pacific Holdings

Novacap Industries has acquired Idaho Pacific Holdings, a unit of Otter Tail Corp. The deal closed May 6. Financial terms were not announced. Idaho Pacific makes dehydrated potato products that are used in the industrial food and baking industries. Novacap is a Canadian PE firm. News of the sale was disclosed by Harris Williams which advised IPH.

AXA Private Equity To Buy Novacap from Bain Capital

AXA Private Equity SA agreed to acquire a majority stake in Novacap SAS in a transaction that puts the Lyon, France-based chemicals company’s enterprise value at about EUR240 million. The seller is Boston, Mass.-based Bain Capital LLC. The transaction has the support of Novacap’s management team, which is headed by CEO Pierre Luzeau.

Bain to sell off Novacap

(Reuters) – Boston-based private equity firm Bain Capital is set to kick off the sales process for French chemical company Novacap shortly, sources with direct knowledge of the matter told Reuters. According to the company’s website, Novacap has annual sales of around 500 million euros. The business includes soda ash and bicarbonate minerals, phenol and […]

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