Five Point sells minority stake in WaterBridge to GIC


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Five Point Energy has sold a minority stake in WaterBridge Resources LLC to GIC. The price of the transaction puts WaterBridge’s enterprise valuation at about $2.8 billion. Barclays served as financial adviser to Five Point Energy and WaterBridge on the transaction. Houston-based WaterBridge is a developer, owner and operator of water infrastructure networks.

PRESS RELEASE

HOUSTON, May 17, 2019 /PRNewswire/ — Five Point Energy LLC, a leading private-equity firm focused exclusively on the midstream energy sector, today announced that it has sold a minority equity stake in WaterBridge Resources LLC (together with its subsidiaries, “WaterBridge”) to affiliates of GIC, Singapore’s sovereign wealth fund (“GIC”). The minority equity position was acquired from funds affiliated with Five Point Energy and WaterBridge management. The transaction has closed and is not subject to any additional conditions. The purchase price implies a WaterBridge enterprise value of approximately $2.8 billion.

Under the terms of

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CIVC launches Specialized Elevator Services Holdings


This post is by Iris Dorbian from PE Hub Blog: Buyout Deals


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CIVC Partners has formed Specialized Elevator Services Holdings, a provider of elevator maintenance, repair, and modernization services in California. The company was formed via CIVC’s recapitalization of San Francisco Elevator, Ascent Elevator and Specialized Elevator. No financial terms were disclosed. Lift Business Advisors served as financial adviser to San Francisco Elevator, Ascent Elevator and Specialized Elevator on the deal.

PRESS RELEASE

DUBLIN, CA — CIVC Partners, L.P. (“CIVC”), a Chicago-based middle market private equity firm, is pleased to announce the formation of Specialized Elevator Services Holdings (“SESH” or the “Company”). The Company was formed through the recapitalization of San Francisco Elevator, Ascent Elevator, and Specialized Elevator to create a leading independent provider of elevator maintenance, repair, and modernization services in California and one of the largest independent providers in the country. With offices in the Bay Area, Los Angeles, and San Diego, SESH provides its services to the

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LDC buys marketing agency MSQ Partners


This post is by Iris Dorbian from PE Hub Blog: Buyout Deals


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LDC has acquired MSQ Partners, a marketing agency. No financial terms were disclosed. GP Bullhound was the financial adviser to MSQ on the deal.

PRESS RELEASE

GP Bullhound acted as the exclusive financial advisor to MSQ Partners on its sale to private equity firm LDC.

MSQ Partners is a multi-disciplinary group of digital, marketing and creative agencies that specialises in marketing communications for consumer and B2B brands. The group employs more than 600 people across 15 offices in the UK, Asia and USA and today supports an international client base of more than 300 businesses, including blue-chip clients such as PSA Group, Diageo and Unilever.

The transaction will enable MSQ Partners to further invest in talent and services to expand and develop the group’s capabilities. A key focus will be the roll-out of its successful multi-disciplinary model across its international offices.

Peter Reid, CEO of MSQ Partners commented: “Our

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Global private equity firms to bid for Hitachi’s chemical unit, say sources: Reuters


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Global private equity firms Bain Capital, Carlyle Group and KKR & Co are among potential bidders for Japanese conglomerate Hitachi Ltd’s chemical unit, three people familiar with the situation told Reuters.

Hitachi plans to sell its majority stake in Hitachi Chemical and the process could start as early as this month, Reuters has reported.

The conglomerate shortlisted a select group of financial sponsors and strategic suitors for the bidding process after initial conversations with interested parties earlier this year, two of the people said, declining to be identified as the information is confidential.

The three private equity firms declined to comment.

Hitachi owns 51.2 percent in its chemical unit, which is worth about $2.9 billion based on Hitachi Chemical’s $5.7 billion market value at Friday’s close.

Hitachi Chemical’s share price, which closed at 3,025 yen apiece on Friday, has almost doubled since the beginning of this

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SEP provides $56 mln to Criteria Corp


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Sumeru Equity Partners has invested $56 million in Criteria Corp, a SaaS based employment analytics platform. In addition to the funding, SEP Managing Directors Jason Babcoke and John Brennan and Vice President Kevin Cheng will join Criteria’s board of directors.

PRESS RELEASE

LOS ANGELES–(BUSINESS WIRE)–Criteria Corp, a market leading SaaS based employment analytics platform, today announced that Sumeru Equity Partners (SEP) has made a $56 million strategic investment to accelerate product innovation and growth. SEP Managing Directors Jason Babcoke and John Brennan and Vice President Kevin Cheng will join Criteria’s board of directors. This is the second investment out of Sumeru Equity Partners Fund III.

“Criteria’s offerings fundamentally shape the most critical element of any company or organization by using proven employment analytics to help identify, hire, and develop talent. As a result, the company has seen break-out growth and is quickly becoming a category leader”

“Criteria’s offerings fundamentally shape

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H.I.G. to invest in Riveron


This post is by Iris Dorbian from PE Hub Blog: Buyout Deals


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H.I.G. Capital has agreed to make an investment in Riveron, a business adviser. No financial terms were disclosed. The deal is expected to close by the end of May.

PRESS RELEASE

DALLAS–(BUSINESS WIRE)–Riveron, a national business advisory firm, announced that an affiliate of H.I.G. Capital (“H.I.G.”), a global investment firm focused on partnering with middle market companies, has entered into a definitive agreement to make a growth investment in Riveron.

Riveron offers a comprehensive suite of consulting solutions to its clients, including accounting advisory (such as technical accounting, implementation of new accounting standards, business combinations and accounting for income taxes), accounting and finance operations (such as audit readiness, operational accounting and finance transformation), capital markets and divestitures (such as IPO readiness, carve-outs and back office stand-up), performance improvement (such as process improvement, technology enablement and earnings enhancement), transaction services (such as buy-side,

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Blackstone makes minority investment in Marlin Equity


This post is by Chris Witkowsky from PE Hub Blog: Buyout Deals


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Blackstone Group made a minority investment in Marlin Equity Partners. The investment, which came from Blackstone’s Strategic Capital Group, will allow Marlin to expand its global investment platform and leverage the resources and capabilities of Blackstone.

Press Release

Marlin Equity Partners, a global investment firm, today announced that Blackstone’s (NYSE: BX) Strategic Capital Group has made a passive, minority investment in the firm.

Blackstone’s Strategic Capital Group is part of Blackstone Alternative Asset Management (BAAM) and specializes in minority partnerships with leading alternative asset managers. This investment will allow Marlin to continue to invest in and further expand its global investment platform, strengthen the commitment to and alignment with its diversified investor base, and leverage the global resources and capabilities of Blackstone.

Since its inception in 2005, Marlin has rapidly grown to become a leading global investment firm with over $6.7 billion of capital under management and completed more

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Blackstone makes minority investment in Marlin Equity


This post is by Chris Witkowsky from PE Hub Blog: Buyout Deals


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Blackstone Group made a minority investment in Marlin Equity Partners. The investment, which came from Blackstone’s Strategic Capital Group, will allow Marlin to expand its global investment platform and leverage the resources and capabilities of Blackstone.

Press Release

Marlin Equity Partners, a global investment firm, today announced that Blackstone’s (NYSE: BX) Strategic Capital Group has made a passive, minority investment in the firm.

Blackstone’s Strategic Capital Group is part of Blackstone Alternative Asset Management (BAAM) and specializes in minority partnerships with leading alternative asset managers. This investment will allow Marlin to continue to invest in and further expand its global investment platform, strengthen the commitment to and alignment with its diversified investor base, and leverage the global resources and capabilities of Blackstone.

Since its inception in 2005, Marlin has rapidly grown to become a leading global investment firm with over $6.7 billion of capital under management and completed more

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Shore Capital launches platform to invest in allergy practices across the southeast


This post is by Chris Witkowsky from PE Hub Blog: Buyout Deals


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Shore Capital Partners formed Southern Ear, Nose, Throat and Allergy Partners and completed a strategic partnership with Northwest ENT and Allergy Center. SENTA and Northwest ENT will seek affiliations with independent ear, nose and throat and stand alone allergy practices across the Southeast to build a network of doctors that focus on clinical care. SENTA is the eighth platform investment from Shore Capital’s second fund, which closed on $190 million in 2017.

Press Release

Shore Capital Partners (“Shore Capital” or “Shore”) is pleased to announce that it has formed Southern Ear, Nose, Throat and Allergy Partners (“SENTA”) and completed a strategic partnership with Northwest ENT and Allergy Center (“Northwest ENT” or the “Company”). Northwest ENT is a leading ear, nose and throat (“ENT”) and allergy services provider with seven locations including two affiliated ambulatory surgery centers in the Greater Atlanta, Georgia metro area. The Company offers comprehensive medical and surgical

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Osram says still in talks with Bain and Carlyle, shares spike: Reuters


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German lighting group Osram said on Thursday that talks with Bain and Carlyle were continuing, after a report said the private equity groups could bid 35 euros per share for the company.

“Talks are ongoing. Due diligence is not finished yet,” a company spokesman said.

Spokeswomen for Bain and Carlyle declined to comment.

German magazine Boerse Online reported that an offer price of 35 euros per share were at the lower end of current estimations, adding that Bain and Carlyle could make a takeover bid in the coming weeks.

Shares in Osram Licht rose 4.6% to 28.59 euros by 1403 GMT.

Spruce Finance snags $50 mln from HPS


This post is by Iris Dorbian from PE Hub Blog: Buyout Deals


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Spruce Finance, an owner and operator of distributed generation solar and residential energy assets in the U.S., has raised $50 million in funding. The investor was HPS Investment Partners.

PRESS RELEASE

HOUSTON, May 16, 2019 /PRNewswire/ — Spruce Finance, a leading owner and operator of distributed generation solar and residential energy assets in the U.S., announced it has received a $50 million equity investment from its owner HPS Investment Partners, a leading global investment firm with more than $48 billion of assets under management. The follow-on investment demonstrates HPS’ commitment to Spruce and the solar asset class, providing support for continued growth through acquisition of solar assets.

The investment comes as Spruce, the second-largest privately held residential solar company in the U.S., is actively pursuing opportunities to add operational solar assets to its 150 MW portfolio. Spruce is looking beyond residential portfolios and

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Monarch Alternative Capital buys Shopko Optical


This post is by Iris Dorbian from PE Hub Blog: Buyout Deals


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Monarch Alternative Capital LP has acquired Shopko Optical, an eyewear provider. No financial terms were disclosed.

PRESS RELEASE

GREEN BAY, Wis., May 16, 2019 /PRNewswire/ — Monarch Alternative Capital LP today announced the successful completion of the previously announced acquisition of Shopko Optical. The company expects to relocate nearly 80 of its current locations housed inside Shopko stores to freestanding locations.

“We are excited to welcome Shopko Optical into our portfolio and to invest in the company’s growth as we move forward with our strategy. Monarch has a long, successful history of investing in great companies undergoing transitions and working alongside their leadership teams to build strong, vibrant businesses of the future,” said Andrew Herenstein, Co-founder and Managing Principal of Monarch.

Jim Eisen, former President of Visionworks, is working as an Operating Partner with Monarch alongside the Shopko Optical team. “I’m grateful for the opportunity to join the

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LNC Partners invests in Terra Dotta


This post is by Iris Dorbian from PE Hub Blog: Buyout Deals


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Chapel Hill, North Carolina-based LNC Partners has made an investment in Terra Dotta, a provider of higher education travel risk management, study abroad and international programs management solutions. No financial terms were disclosed.

PRESS RELEASE

CHAPEL HILL, N.C. (PRWEB) MAY 16, 2019

Terra Dotta, the trusted leader in higher education travel risk management, study abroad and international programs management solutions, today announced that it has received additional growth capital from LNC Partners, a northern Virginia-based private equity firm focused on partnering with high quality middle-market companies. The investment will be used to support Terra Dotta’s continued growth, including enhancing and expanding its award-winning solutions, pursuing new markets and acquisitions, and expanding its team.

“Since our first investment in Terra Dotta in 2015, the company has proven itself as the market leader in understanding and responding to the demands of its long-standing client institutions and, in turn, delivering innovative

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KPS to buy Colfax’s Howden for $1.8 bln


This post is by Luisa Beltran from PE Hub Blog: Buyout Deals


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KPS Capital Partners said May 16 that it agreed to buy Howden from Colfax Corp for $1.8 billion. The deal includes $1.66 billion in cash and $0.14 billion in assumed liabilities and minority interest. Howden, of Glasgow, Scotland, provides mission critical air and gas handling products and services to the industrial, power, oil & gas, and mining industries.

PRESS RELEASE

KPS CAPITAL PARTNERS TO ACQUIRE HOWDEN FROM COLFAX CORPORATION

Global Leader in Mission Critical Air and Gas Handling Equipment to Become Independent Company

New York, NY (May 16, 2019) — KPS Capital Partners (“KPS”) announced today that it has signed a definitive agreement to acquire Howden, (the “Company”) from Colfax Corporation (NYSE: CFX) for an enterprise value of $1.80 billion, including $1.66 billion in cash consideration and $0.14 billion in assumed liabilities and minority interest, subject to customary closing adjustments.

Howden is a leading

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Oak Hill Capital to exit AccentCare


This post is by Luisa Beltran from PE Hub Blog: Buyout Deals


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Advent International said May 16 that it agreed to buy AccentCare Inc. Financial terms weren’t announced. Oak Hill Capital Partners is the seller. AccentCare, of Dallas, offers a range of services including personal, non-medical care to skilled nursing, rehabilitation, hospice care and care management across 16 states.

PRESS RELEASE

Advent International Acquires AccentCare
• Investment to strengthen and scale AccentCare’s leadership in a fast-growing and fragmented market
BOSTON and LONDON, May 16, 2019 – Advent International (“Advent”), one of the largest and most experienced global private equity investors, today announced that it has signed a definitive agreement to acquire AccentCare, Inc., a nationwide leader in post-acute healthcare, from private equity firm Oak Hill Capital Partners (“Oak Hill“). Financial terms of the transaction were not disclosed.

“AccentCare is a terrific platform that is setting the standard for high-quality home and community-based healthcare,” said Carmine Petrone, Managing Director at Advent. “In

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TodayTix raises $73 mln


This post is by Luisa Beltran from PE Hub Blog: Buyout Deals


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TodayTix said May 16 it raised $73 million in funding led by Great Hill Partners. TodayTix, of New York, is an online platform that sells best-priced tickets to shows, arts and cultural entertainment in cities including New York City, London’s West End, Toronto, the San Francisco Bay Area.

PRESS RELEASE

TODAYTIX ANNOUNCES $73 MILLION GROWTH EQUITY INVESTMENT
LED BY GREAT HILL PARTNERS
Infusion of Capital To Further Propel Company Growth,
Continue Evolution Beyond Ticketing to Global Entertainment Media Platform
New York, NY (May 16, 2019) – TodayTix, the digital gateway to shows, arts and cultural experiences that has delivered continued triple-digit, year-over-year growth, today announced a $73 million growth equity investment led by leading growth oriented private equity firm Great Hill Partners. The investment brings total capital raised since its last public financing round to $90 million.
Founded in 2013, TodayTix quickly established itself as a disruptor within the theatrical

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SymphonyAI Group buys Azima Global


This post is by Luisa Beltran from PE Hub Blog: Buyout Deals


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SymphonyAI Group said May 15 that it acquired Azima Global. Financial terms weren’t announced. Azima provides machine condition monitoring and asset reliability solutions across several industrial verticals.

PRESS RELEASE
SymphonyAI Group Acquires Azima Global, a Leader in Machine Condition Monitoring & Reliability Solutions for the Process & Manufacturing Industries

The company, renamed Symphony AzimaAI, will expand into industry-pioneering integrated equipment & process monitoring solutions

LOS ALTOS, Calif., May 15, 2019 /PRNewswire/ — SymphonyAI Group announced today its recent acquisition of Azima Global, a provider of machine condition monitoring and asset reliability solutions across several industrial verticals. �

SymphonyAI is building a group of leading companies that use artificial intelligence to transform business enterprises across several markets, including the industrial, retail, consumer, healthcare, financial services, and media sectors.� At the core of this is SymphonyAI’s artificial intelligence platform, eurekaAI, which drives actionable insights by applying machine learning to large

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Nestle revamp advances with $10 billion sale of skin health unit to buyout funds: Reuters


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ZURICH/FRANKFURT (Reuters) – Nestle has entered exclusive talks to sell its skin health business to a consortium led by EQT Partners for 10.2 billion Swiss francs ($10.12 billion), as the food group shifts its portfolio in response to changing consumer demands.

The proposed transaction with private equity firm EQT, a unit of the Abu Dhabi Investment Authority and PSP Investments is expected to close in the second half of 2019 pending regulatory approval, Nestle said on Thursday.

Nestle Chief Executive Mark Schneider put the skin health unit up for sale last September as the group moved to ditch underperforming businesses, following years of slowing growth as many consumers favored fresh foods over packaged goods.

Nestle was also under fire from activist investor Daniel Loeb’s Third Point, which asked for a faster overhaul in July. The U.S. hedge fund has since generated very good returns on its

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Bernhard Capital-led investor group takes stake in The Lemoine Company


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Bernhard Capital-led investor group has acquired a stake in Louisiana-based The Lemoine Company, a construction management firm. No financial terms were disclosed.

PRESS RELEASE

BATON ROUGE, La., May 15, 2019 /PRNewswire/ — A group of investors led by Bernhard Capital Partners Management, LP (“Bernhard Capital”), a services-focused private equity management firm, today announced it has acquired a financial interest in The Lemoine Company.

Based in Louisiana, The Lemoine Company is one of the most respected full-service construction management firms in the country, with expertise in disaster recovery, community resilience and sustainability.

“We are very excited about the addition of The Lemoine Company to our private equity portfolio, particularly when you consider the reputation the company has established for itself as a leader in the construction management and community resilience industries,” said Jim Bernhard, partner at Bernhard Capital. “We look forward to working with The Lemoine Company’s world-class

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Firmament invests in Fortbrand


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The Firmament Group has made an investment in Fortbrand Services, which sells, leases and rents aircraft ground support equipment and airfield maintenance equipment to commercial airlines, ground handling companies and airports in North America. No financial terms were disclosed.

PRESS RELEASE

NEW YORK, May 15, 2019 /PRNewswire/ — The Firmament Group (“Firmament”), a leading provider of tailored debt and equity capital solutions to small- and medium-sized enterprises (SMEs), announced today an investment in Fortbrand Services (“Fortbrand” or the “Company”). Fortbrand sells, leases and rents aircraft ground support equipment and airfield maintenance equipment to commercial airlines, ground handling companies and airports throughout the North America. Through its operation in Sastamala, Finland, the Company also services airport operators throughout Europe.

As a provider of bespoke capital solutions, Firmament provided debt and equity capital as part of a recapitalization of the Company led by management and Wincove Private Holdings, LP (“Wincove”), an

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