One Equity Partners to sell Sonneborn for $655 mln

One Equity Partners said Nov. 13 that it agreed to sell the operating subsidiaries of Sonneborn Holdings LP to HollyFrontier Corp for $655 million. The deal is expected to close in 2019. Sonneborn, of Parsippany, New Jersey, makes highly purified white oil, petrolatum, microcrystalline wax, sodium sulfonate and compressor lubricants for personal care, pharmaceutical, food, polymer and metal working applications. Morgan Stanley & Co LLC is acting as financial adviser and Baker McKenzie served as legal counsel to Sonneborn. PRESS RELEASE NEW YORK – NOVEMBER 13, 2018 – One Equity Partners (“OEP“), a leading middle market private equity firm, today announced the signing of a definitive agreement to sell the operating subsidiaries of Sonneborn Holdings L.P. (“Sonneborn” or “the Company”), a global leader in specialty hydrocarbon chemicals, to a subsidiary of HollyFrontier Corporation (NYSE: HFC), an independent petroleum refiner and marketer, for $655 million. The transaction is expected to close in 2019,
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New Water-backed Myotek buys Amptech

Myotek, a portfolio company of New Water Capital LP, has acquired Amptech Inc. Financial terms weren’t announced. Amptech, of Manistee, Michigan, designs, engineers and makes circuit boards and other electronic assemblies for customers in automotive, utility and other industrial end markets and applications. PRESS RELEASE November 13, BOCA RATON, Fla. —Private equity firm New Water Capital, L.P., announced that its portfolio company, Myotek, has acquired Amptech, Inc., a leading value-added manufacturer of electronics and electrical assemblies based in Manistee, Michigan.
Founded in 1980, Amptech designs, engineers and manufactures circuit boards and other electronic assemblies for customers in automotive, utility and other industrial end markets and applications. The acquisition will allow Myotek to provide its customers with domestic production capabilities for its automotive lighting products. Amptech’s Lee Wyatt will continue to serve as president of the company.
New Water views the addition of Amptech as a
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PE-backed BTI Studios acquires German dubbing studio Berliner Synchron

BTI Studios, a portfolio company of Shamrock Capital, has acquired Berliner Synchron Gmbh, a dubbing studio in Germany. The seller was S&L Medien Gruppe. No financial terms were disclosed. PRESS RELEASE November 12, 2018
Today global media localization company BTI Studios announced the acquisition of 100% of the share capital of Berliner Synchron GmbH from Munich based S&L Medien Gruppe. Berliner Synchron GmbH was founded in 1949 as the first professional dubbing studio in Germany. Since then it has dubbed more than 8000 titles into German, with the company still holding a leading position in the industry today. The Berliner Synchron deal follows BTI’s acquisition of Dutch dubbing studio Creative Sounds last month, and will increase BTI’s offering to 63 recording studios across 24 facilities spanning Europe, the US and Asia. Björn Lifvergren, BTI Studios founder and leader of the M&A team, commented on the deal; “The
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Israeli cyber firm NSO in talks to buy Fifth Dimension, say reports: Reuters

Israeli cyber surveillance company NSO Group is in talks to buy Fifth Dimension, a start-up chaired by former Israel Defense Forces Chief of Staff Benny Gantz, Israeli media reported on Monday. Fifth Dimension has developed technology to assist police investigators in solving cases. Its advisory board includes Ram Ben-Barak, a former deputy director of the Mossad spy agency. TheMarker financial daily cited unnamed sources as saying NSO is studying a possible acquisition to help improve its reputation by linking up with leading Israeli security figures. NSO declined to comment on the reports. Officials at Fifth Dimension were not available for immediate comment. NSO is best known as a supplier of mobile surveillance tools to governments and law enforcement agencies. It was in the spotlight last year amid allegations that the Mexican government had used its Pegasus mobile spyware to target private citizens. Last year Blackstone Group pulled out
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Graycliff sells Impakt for about $329 mln

Graycliff Partners has sold Impakt Holdings LLC to Celestica for about $329 million. Based in California and South Korea, Impakt provides design, engineering and agile manufacturing solutions for the display, solar and other capital equipment industries. PRESS RELEASE NEW YORK–(BUSINESS WIRE)–Graycliff Partners LP today announced the completion of the sale of Impakt Holdings, LLC to Celestica Inc. (NYSE, TSX: CLS), a leader in design, manufacturing and supply chain solutions for the world’s most innovative companies, for a total purchase price of approximately $329 million. With operations in California and South Korea, Impakt provides design, engineering and agile manufacturing solutions for the display, solar and other capital equipment industries, as well as specialized services that require large format, high-mix complex manufacturing and integration solutions. Since acquiring Impakt in 2016, Graycliff has teamed with management to identify and execute numerous transformational initiatives to position the company for growth, including building out a
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Nuance Communications nears sale of imaging division, say sources: Reuters

Speech-recognition software provider Nuance Communications Inc (NUAN.O) is nearing a deal to sell its imaging division to Kofax, a company owned by private equity firm Thoma Bravo LLC, for about $500 million, people familiar with the matter said on Sunday. The divestment comes as Nuance, which has a market capitalization of roughly $5 billion, is seeking to focus on its most profitable businesses. It is the first major move by Mark Benjamin, who took over as Nuance’s CEO in March. The deal could be announced as early as this week, the sources said, cautioning that negotiations could always fall apart at the last minute and asking not to be identified because the matter is confidential. Nuance, Thoma Bravo and Kofax could not be reached for comment. Thoma Bravo’s Kofax makes software that allows users to capture and scan images to be used in digital formats. Nuance’s imaging
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SAP snatches sentiment tracker Qualtrics from verge of IPO for $8 billion: Reuters

German business software company SAP (SAPG.DE) has agreed to buy Qualtrics International for $8 billion in cash, pre-empting a planned stock market listing by the U.S.-based company which specializes in tracking online sentiment. The deal will help Europe’s most valuable tech firm strengthen its customer relationship management (CRM) software offering, a focus of Chief Executive Bill McDermott in a race with CRM specialist Salesforce (CRM.N) and arch-rival Oracle (ORCL.N). Announced late on Sunday, the deal is SAP’s largest acquisition since it bought travel and expense-management firm Concur for $8.3 billion in 2014. One person involved in the deal said it was the largest-ever takeover of a technology company on the verge of a market debut. Qualtrics captures and analyses data on brands and products from real-time sources including social media and email, and should give SAP’s clients better insights into their own customers’ experience.
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Genstar-backed Mercer Advisors to buy Sigma Investment Management

Mercer Advisors Inc, a Genstar Capital portfolio company, said Nov. 12 that it acquired Sigma Investment Management Co. Financial terms weren’t announced. Sigma, of Portland, Oregon, is a wealth management firm serving high net worth clients throughout the Pacific Northwest. UPDATE: Lovell Minnick Partners owns a minority of Mercer Advisors. PRESS RELEASE DENVER, November 12, 2018 – Mercer Advisors Inc. (“Mercer Advisors”), a national Registered Investment Advisor (RIA), today announced the acquisition of Sigma Investment Management Company (Sigma), a large wealth management firm located in Portland Oregon serving high net worth clients throughout the Pacific Northwest. The addition of Sigma’s office in Portland, Oregon deepens Mercer Advisors’ footprint in the Pacific Northwest and builds on its significant West Coast presence, including an office in Seattle and seven offices in California. The Sigma acquisition brings Mercer Advisors’ total offices to over 30, and, with over $500 million of Assets Under
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Stephens Capital Partners to exit Clearwave Communications

Cable One Inc said Nov. 12 that it agreed to buy Clearwave Communications. Financial terms weren’t announced. Stephens Capital Partners LLC, the private equity arm of Stephens Inc, is the seller. Clearwave, of Harrisburg, Illinois, owns and operates a high-capacity fiber network offering regional coverage in Southern Illinois. PRESS RELEASE PHOENIX–(BUSINESS WIRE)–Cable One, Inc. (NYSE: CABO) (the “Company” or “Cable ONE”) today announced it has entered into a definitive agreement to acquire Clearwave Communications (“Clearwave”), a facilities-based service provider that owns and operates a high-capacity fiber network offering dense regional coverage in Southern Illinois.
The acquisition provides Cable ONE with a premier fiber network within its existing footprint and further enables the Company to supply its customers with enhanced business services solutions. The acquisition will also provide a platform to allow Cable ONE to replicate Clearwave’s strategy in several of the Company’s existing markets. Clearwave has more than
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PE-backed Vitrek buys XiTRON

Vitrek, a portfolio company of Branford Castle Partners, has acquired XiTRON Technologies, a provider of precision power test and measurement equipment for industrial and consumer product development and manufacturing. No financial terms were disclosed. PRESS RELEASE NEW YORK, Nov. 9, 2018 /PRNewswire/ — Branford Castle Partners, the New York private equity firm, today announced that through its portfolio company, Vitrek, it has purchased XiTRON Technologies, a recognized source of precision power test and measurement equipment for industrial and consumer product development and manufacturing. The acquisition will be a bolt-on to Vitrek’s line of high voltage test and measurement equipment. The XiTRON product line includes power analyzers, which complement Vitrek’s offerings, as well as programmable DC electronic loads, power quality analyzers, portable calibration equipment, digital milliohmmeters and phase angle voltmeters. “Acquisition of the XiTRON Technologies brand and its products is a vital component of our expansion strategy,” said Don
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Endred to buy CSI for $600 mln

Endred agreed to buy  Corporate Spending Innovations in a deal valued at around $600 million. CSI, of Naples, Florida, is a North American provider of corporate payment solutions. Rahul Singla of Citi, along with Hogan Lovells and Deloitte advised Edenred. PRESS RELEASE Edenred, the world leader in transactional solutions for companies, employees and merchants, has signed an agreement to acquire Corporate Spending Innovations (“CSI”), one of the leading providers of automated corporate payment software in North America. By acquiring this well-established, fast-growing and profitable fintech, Edenred is now well positioned to seize the multiple opportunities offered by the North American corporate payment market, experiencing fast-paced digitization. The acquisition, for an amount of around USD 600 million, follows on from a European partnership formed close to two years ago between the two companies. In line with the Fast Forward strategic plan, the transaction will enable Edenred to step up its
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Symantec acquires VC-backed Javelin Networks

Symantec Corp has acquired Austin, Texas-based and Palo Alto, California-based Javelin Networks, a cybersecurity company. No financial terms were disclosed. Javelin was backed by RSL Capital, Hillsven and UpWest Labs. PRESS RELEASE MOUNTAIN VIEW, Calif.–(BUSINESS WIRE)–Symantec Corp. (NASDAQ: SYMC) today announced the acquisition of Javelin Networks, a privately held company that offers advanced software technology to defend enterprises against Active Directory-based attacks. Microsoft Active Directory (AD) services have become an increasingly popular target for attackers, who use AD reconnaissance to discover the users, servers and computers in an enterprise network and then move laterally across the network using this information to carry out multi-stage attacks. Recently, multiple major advanced persistent threat (APT) campaigns have used AD credentials to move laterally in the network beginning with a single compromised endpoint. This challenge is pervasive, as a large number of enterprises worldwide use AD services to manage their users, applications, and
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PE-backed Deltatre to buy Massive Interactive for $92 mln

Deltatre, a portfolio company of Bruin Sports Capital, has agreed to acquire London-based Massive Interactive Inc, an OTT software company. The value of the deal is about $92 million. The transaction is expected to close by the end of this month. PRESS RELEASE LONDON–(BUSINESS WIRE)–Massive Interactive, Inc. (OTCBB:HUGE), the award-winning OTT software company, today announced it has signed a definitive agreement to be acquired by Deltatre, the international leader in sports media technology services. Deltatre will acquire Massive and its subsidiaries in a cash transaction valued at approximately USD $92 million. The transaction is structured as an acquisition of Massive, pursuant to a merger and purchase of the additional outstanding equity interests of one of Massive’s subsidiaries under a separate equity purchase agreement. The closing of that merger and equity purchase are contingent upon one another and structured to occur simultaneously. Both transactions are subject to certain
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Symantec buys mobile security provider Appthority

Symantec announced this week it has agreed to acquire San Francisco-based Appthority, a provider of mobile security services. Terms of the transaction were not disclosed. The VC-backed company was founded in 2011 and raised more than $25 million in total funding from investors, including U.S. Venture Partners, Venrock, Blue Coat Systems and ForgePoint Capital. Appthority was named the “Most Innovative Company” at the RSA Conference’s startup competition in 2012. Co-founders included President Domingo Guerra. Source: Press release

Arsenal Capital to sell Elite Comfort Solutions for $1.25 bln

Leggett & Platt said Nov. 7 that it agreed to buy Elite Comfort Solutions Inc for $1.25 billion. Arsenal Capital Partners is the seller. Elite Comfort provides specialized foam technology mainly for the bedding and furniture industries. J.P. Morgan Securities LLC served financial adviser to Leggett & Platt. PRESS RELEASE LEGGETT & PLATT TO ACQUIRE ELITE COMFORT SOLUTIONS FOR $1.25 BILLION • Combined company will be leading provider of differentiated products for the bedding industry
• Significantly expands presence in growing specialty foam and hybrid boxed bed market segment
• Opportunity to leverage Elite Comfort Solutions’ substantial and proprietary R&D capabilities and technologies
• ECS Fiscal Year 2018 sales of $611 million; EBITDA margins accretive to company average
• Expect to finance with expanded commercial paper program and $500 million 5-year term loan
• Leggett & Platt reiterates commitment to dividend track record and financial strength
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Race Winning Brands buys Falicon Crankshafts Components

Race Winning Brands Inc, a portfolio company of Kinderhook Industries LLC, has acquired Falicon Crankshafts Components Inc. Financial terms weren’t announced. Falicon, of Clearwater, Florida, makes high performance powersports engine components including crankshafts, connecting rods, camshaft sprockets and racing clutches. PRESS RELEASE RACE WINNING BRANDS ACQUIRES FALICON November 7, 2018   Mentor, OH – Race Winning Brands, Inc., (“Race Winning Brands”, “RWB”, or the “Company”) a portfolio company of Kinderhook Industries, LLC (“Kinderhook”) is pleased to announce the acquisition of Falicon Crankshafts Components, Inc. (“Falicon”), a prominent manufacturer of high performance powersports engine components including crankshafts, connecting rods, camshaft sprockets and racing clutches. Falicon represents the fourth add-on acquisition for Race Winning Brands, and Kinderhook’s 58th automotive-related transaction. Financial terms of the transaction were not disclosed.   Race Winning Brands is the leading manufacturer of high performance and racing related components sold to the automotive and powersports markets.
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VMware to buy VC-backed Heptio

VMware Inc has agreed to acquire Seattle-based Heptio, which is built to support and advance the open Kubernetes ecosystem. No financial terms were disclosed. Heptio is backed by Madrona Venture Group, Lightspeed Venture Partners and Accel Partners. PRESS RELEASE BARCELONA, Spain, Nov. 06, 2018 (GLOBE NEWSWIRE) — Today at VMworld 2018 Europe, VMware, Inc. (NYSE: VMW) announced that it has signed a definitive agreement to acquire Heptio, a leader in the open Kubernetes ecosystem. Heptio’s products and expertise help organizations deploy and operationalize Kubernetes. Terms were not disclosed. Founded in 2016 by Joe Beda and Craig McLuckie, two of the creators of Kubernetes, Heptio has applied its unique insight to a growing set of products, open source projects and contributions to upstream Kubernetes. This is complemented by Heptio’s work with organizations through training, support and professional services that speed integration of Kubernetes and related technologies into the fabric of enterprise
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Charlesbank to sell Trojan Battery to C&D

C&D Technologies, a portfolio company of KPS Capital Partners LP, has agreed to acquire Trojan Battery Company LLC from Charlesbank Capital Partners LLC. No financial terms were disclosed. Paul, Weiss, Rifkind, Wharton and Garrison LLP served as legal counsel to KPS and C&D on the deal. Based in Santa Fe Springs, California, Trojan is a maker of deep-cycle batteries for motive and stationary applications. PRESS RELEASE NEW YORK, Nov. 6, 2018 /PRNewswire/ — KPS Capital Partners, LP (“KPS”) announced today that its portfolio company C&D Technologies, Inc. (“C&D”) has agreed to acquire Trojan Battery Company, LLC (“Trojan”) from Charlesbank Capital Partners, LLC and other shareholders. Financial terms of the transaction were not disclosed. C&D’s acquisition of Trojan combines two leading specialty battery manufacturers with long histories of delivering the highest-quality, most-innovative products in the industrial, renewable energy and specialty motive markets. The combined company will be a global technology
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PE-owned Maurice Sporting Goods buys O2COOL

Maurice Sporting Goods, which is owned by Middleton Partners, has Chicago-based acquired O2COOL, a maker and provider of creative consumer products. No financial terms were disclosed. PRESS RELEASE CHICAGO, Nov. 6, 2018 /PRNewswire/ — Middleton Partners, parent company of Maurice Sporting Goods, announced today that is has acquired O2COOL, an innovative leader in the hydration and portable cooling market with more than $50 million in annual revenue. With this acquisition, Middleton plans to leverage the synergies of O2COOL and Maurice Sporting Goods, to establish Maurice Outdoors, a collection of powerful industry brands with best-in-class distribution. “This is a great opportunity to spur the growth of O2COOL and our brands,” said Eric Lockwood, CEO of O2COOL. “We know that Middleton is the right partner and I am thrilled about the potential for Maurice Outdoors to thrive in the future.” Maurice Outdoors will be focused on the outdoor consumer
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