Everstone and GLP to invest about $500 mln in India logistics ecosystem

Everstone, an investment firm focused on India and South East Asia and GLP, a provider of modern logistics facilities and technology-led solutions, have teamed up to invest in the logistics ecosystem in India. Together the two firms will invest about $500 million in the space. PRESS RELEASE Mumbai, December 12, 2018 – Everstone and GLP have established a long-term partnership dedicated to investing in the logistics ecosystem in India. The collaboration, the first of its kind in India, expects to invest approximately US$500 million in strategies and technologies to enhance logistics efficiency, while connecting customers with innovative solutions that drive value and competitiveness. Everstone and GLP see significant opportunities across the logistics value chain in India, including express-delivery, smart trucks, telematics and automation/robotics. The partnership will leverage GLP’s extensive expertise in pioneering modern logistics ecosystems and Everstone’s large and growing network through its private equity, infrastructure and real
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Vector Capital to buy Host Analytics

Vector Capital has agreed to acquire Redwood City, California-based Host Analytics, a provider of cloud-based enterprise performance management solutions. No financial terms were disclosed. Centerview Partners advised Host Analytics on the transaction. As part of the deal, StarVest Partners will remain a “significant” investor in Host Analytics. PRESS RELEASE REDWOOD CITY, Calif.–December 13, 2018 — Host Analytics Inc., a leading provider of cloud-based enterprise performance management (EPM) solutions, has signed a definitive agreement to be acquired by Vector Capital, a leading private equity firm specializing in transformational investments in established technology businesses. As part of the transaction, Host Analytics’ largest shareholder, StarVest Partners, will remain a significant investor in the company. “We are excited to partner with Vector Capital to accelerate our growth in the rapidly expanding EPM market. This is an exciting time for our company, our customers, and our employees,” said Dave Kellogg, chief executive officer
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BHP calls off $320 million deal to sell Chile’s Cerro Colorado: Reuters

BHP (BHP.AX) BLT.L said on Wednesday a deal to sell its Cerro Colorado copper mine in Chile to private equity fund EMR Capital had been called off because of problems with financing. The Anglo-Australian company, the world’s biggest listed miner, said in June it had agreed to sell the mine in a cash deal worth as much as $320 million, depending on copper price performance. Cerro Colorado is one of three mines operated by BHP in Chile. “The decision to call off the deal was agreed upon by both parties after it became clear that financing conditions would not be met within the agreed upon timeline,” a spokeswoman for BHP told Reuters on Wednesday. She offered no further details. EMR could not immediately be reached for comment. While BHP expects copper to be in high demand for both the traditional economy and for electric vehicles, its preference is
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Energy company Bayou rakes in $75 mln

Houston-based Bayou Midstream LLC, an independent energy company, has secured $75 million in funding. The investor was EIV Capital. PRESS RELEASE HOUSTON, Dec. 13, 2018 /PRNewswire/ — Headquartered in Houston and established in 2018, Bayou is an independent energy company focused on the development and operation of midstream infrastructure assets across the US Rockies region, with a core focus in the Powder River Basin and the Bakken. Bayou is pursuing both greenfield projects and select acquisition opportunities.
Bayou offers full service midstream solutions including gas gathering, processing and treating; crude oil gathering, treating and transportation; and produced water gathering. Bayou’s experienced management team has worked in a variety of roles bringing a unique perspective to the company. Members of management have complementary backgrounds working for E&P producers, private equity-backed midstream companies, public midstream companies and financial institutions in energy investment banking. Bayou will utilize its comprehensive experience to work
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Proviso and Stonehenge back Algiere Construction

Proviso Capital and Stonehenge Capital has made a majority investment in Plano, Texas-based Algiere Construction Services Inc, a general contractor that specializes in renovation and conversion services for the hospitality industry. No financial terms were disclosed. Generational Capital Markets Inc advised Algiere Construction on the transaction. PRESS RELEASE DALLAS, Dec. 13, 2018 /PRNewswire/ — Generational Capital Markets, Inc., Member FINRA/SIPC and a leading mergers and acquisitions advisor for privately held businesses, is pleased to announce that its client, Algiere Construction Services Inc., has received a majority investment by Proviso Capital and Stonehenge Capital. The transaction closed November 1, 2018. Details were not disclosed. Algiere Construction, based in Plano, Texas, is a general contractor that specializes in renovation and conversion services for the hospitality industry, offering full turnkey design/build solutions from general construction and interior design to purchasing and installation services. The company has completed projects across the
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Natixis Investment Managers launches Flexstone Partners

Natixis Investment Managers has launched Flexstone Partners, a private equity firm that merges three of Natixis Investment Managers’ private equity affiliates: Euro-PE, Caspian Private Equity and Eagle Asia. Flexstone Partners has named Eric Deram, the previous founder and managing partner of Euro-PE, as CEO. The new firm will focus on private equity, private debt, real estate and infrastructure fund managers across America, Europe and Asia. PRESS RELEASE PARIS & LONDON & NEW YORK–(BUSINESS WIRE)–Natixis Investment Managers announces the launch of Flexstone Partners, a global private equity manager that brings together three of Natixis Investment Managers’ existing private equity affiliates: Euro-PE, Caspian Private Equity and Eagle Asia to provide investors with access to a truly global and highly active approach to private equity. Eric Deram, previously Founder and Managing Partner of Euro-PE, has been appointed as the CEO of Flexstone Partners. The announcement follows other recent expansions into alternatives and
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Incline to invest in Charter Industries Extrusions

Incline Equity Partners has made an investment in Grand Rapids, Michigan-based Charter Industries Extrusions LLC, a provider of PVC and wood edgebanding, T-molding and veneer sheets to specialty carpenters and furniture installers. No financial terms were disclosed. PRESS RELEASE Incline Equity Partners (“Incline”), a Pittsburgh-based lower middle-market private equity firm, announces that it has made an investment in Charter Industries Extrusions, LLC. (“Charter” or the “Company”), a leading supplier of PVC and wood edgebanding, T-molding and veneer sheets to specialty carpenters and furniture installers. Based in Grand Rapids, MI, Charter specializes in edgebanding as well as ancillary cased goods products for use in a variety of end markets. The Company serves thousands of furniture and case good manufacturers operating in the education, healthcare, retail, hospitality, commercial, recreational vehicle and residential markets. The Company strives to have the shortest lead times in the industry while continually adding new colors, sizes
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Sentinel Capital buys Pet Supplies Plus

Sentinel Capital Partners has acquired Pet Supplies Plus. Financial terms weren’t announced. Pet Supplies Plus, of Livonia, Michigan, is a franchisor and operator of pet-specialty stores. PRESS RELEASE NEW YORK, December 13, 2018 – Sentinel Capital Partners, a private equity firm that invests in promising companies at the lower end of the midmarket, today announced the acquisition of Pet Supplies Plus (“PSP”), the third largest pet specialty chain in the U.S. and the largest “independent” pet-specialty operator. Terms of the transaction were not disclosed.
Founded in 1988 and headquartered in Livonia, Michigan, PSP is a leading franchisor and operator of pet-specialty stores that provide a customer-centric shopping experience in smaller stores that have a neighborhood feel. PSP blends the advantages of national scale with those of a friendly, local neighborhood pet store. Stores have a streamlined design, which makes them easy to navigate, and a wide assortment of natural
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GE Digital to sell majority of ServiceMax to Silver Lake

GE Digital said Dec. 13 that it is selling a majority stake in ServiceMax to Silver Lake. Financial terms weren’t announced. ServiceMax, of Pleasonton, California, provides cloud-based software productivity tools for field service technicians. GE will retain a 10 percent stake. Morgan Stanley & Co LLC served as financial adviser and Skadden, Arps, Slate, Meagher & Flom LLP acted as legal adviser to Silver Lake. PRESS RELEASE Silver Lake to Acquire Majority Stake in ServiceMax from GE Digital
Strategic partnership to accelerate growth of leading provider of Field Service Management software
GE to continue as minority investor SAN RAMON, Calif. & MENLO PARK, Calif.–(BUSINESS WIRE)–GE Digital (NYSE: GE) and Silver Lake announced today an agreement for GE Digital to sell a majority stake in ServiceMax, a leading provider of cloud-based software productivity tools for field service technicians, to Silver Lake, the global leader in technology investing. Under the agreement,
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KKR to invest $45 mln in Barghest Building Performance

KKR said Dec. 13 that it is investing up to $45 million in Barghest Building Performance. Barghest Building, of Singapre, provides heating, ventilation and air conditioning systems in commercial and industrial buildings. PRESS RELEASE KKR Backs Energy Savings Solutions with Investment in Singapore’s BBP
Investment Made as Part of Firm’s Impact Strategy Focused on Addressing Global Societal Challenges SINGAPORE –December 13, 2018 – Leading global investment firm KKR today announced an investment in Barghest Building Performance (“BBP” or the “Company”), a Singapore-based provider of energy savings solutions to Heating, Ventilation and Air Conditioning (“HVAC”) systems in commercial and industrial buildings. KKR will be investing up to S$45 million in the Company. BBP’s energy efficiency solution applies a combination of proprietary software, customized engineering, and equipment to deliver the same cooling load to sites while consuming up to 40% less energy. The solution is applicable for all central chiller plant systems,
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August Equity buys Hallmarq Veterinary Imaging

August Equity acquired Hallmarq Veterinary Imaging Ltd. Financial terms weren’t announced. Hallmarq, of the U.K., provides advanced diagnostics for equine and companion animals. PRESS RELEASE August Equity backs management buyout of Hallmarq Veterinary Imaging
Leading mid-market private equity firm August Equity has supported the management buyout (MBO) of Hallmarq Veterinary Imaging Ltd (Hallmarq), a global specialist in advanced diagnostics for equine and companion animals.
Founded in 2001, Hallmarq is unique in the animal health sector for its development of the world’s only MRI scanner for the standing horse. The technology allows vets to more effectively identify lameness in horses than the usual methods of x-ray or ultrasound, and it removes the need to use potentially risky general anaesthesia.
Hallmarq has also developed PetVet, an MRI system specifically designed for the anatomy of dogs and cats, replacing the use of refurbished human machines. This enables vets to get superior
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ShootProof snaps up funding from PSG

Atlanta-based ShootProof, a provider of online gallery software and related services for professional and semi-professional photographers, has secured funding from Providence Strategic Growth. No financial terms were disclosed. GrowthPoint Technology Partners served as financial adviser to ShootProof on the transaction. PRESS RELEASE ShootProof (the “Company”), a leading global provider of online gallery software and related services for professional and semi-professional photographers, today announced a significant growth investment by Providence Strategic Growth (PSG), the growth equity affiliate of Providence Equity Partners, a premier global asset management firm focused on the media, communications, education and information industries. Founded in 2010, ShootProof is a user-friendly, technology-enabled platform that allows photographers to share and sell their work commission-free. ShootProof is a one-stop shop for photographers around the world, offering a suite of professional tools to address all of their business needs, including online photo proofing, customizable password-protected galleries and mobile apps, invoicing, contracts
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Ardenton invests in Shaftec

Ardenton Capital has made an investment in UK-based Shaftec, a provider of automotive parts to the UK aftermarket. No financial terms were disclosed. PRESS RELEASE Ardenton Capital Corporation is pleased to announce its strategic partnership and equity investment in Birmingham, UK-based Shaftec Automotive Components Ltd (“Shaftec”). Ardenton’s third investment in the West Midlands, UK, Shaftec has been supplying remanufactured and new parts to the automotive industry for more than 20 years, establishing itself as the leading transmission, steering and brake supplier to the UK aftermarket. Shaftec employs 130 people, operating from its 42,000 sq. ft. facility in Birmingham, where it manufactures and distributes products across the UK and Europe. Ardenton has been active in the West Midlands since the Canadian-headquartered investor established its first overseas office in the UK in early 2017. Led by experienced dealmakers Iain Marlow and Michael Bradbury, the UK team’s previous West Midlands acquisitions include
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Laureate Education to sell its universities in Spain and Portugal to Permira

Permira has agreed to acquire five educational institutions in Spain and Portugal from Laureate Education Inc. The value of the deal is $871 million. The transaction is expected to be completed within the first half of 2019. Goldman Sachs provided financial advice to Laureate Education on the deal while Barclays did likewise for Permira. PRESS RELEASE BALTIMORE, December 12, 2018 – Laureate Education, Inc. (NASDAQ:LAUR), the world’s largest global network of higher education institutions, announced today that it has signed an agreement with a company backed by the Permira funds, for the sale of Laureate’s institutions in Spain and Portugal, contingent on the receipt of all necessary regulatory and accreditation approvals. The institutions included in this agreement are Universidad Europea de Madrid (UEM), Universidad Europea de Valencia (UEV), Universidad Europea de Canarias (UEC), Universidade Europeia in Portugal, and Instituto Português de Administração de Marketing (IPAM) in Portugal. Together, these prestigious
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H.I.G. buys Vision Integrated Graphics

H.I.G. Capital has acquired Bolingbrook, Illinois-based Vision Integrated Graphics Group, a provider of tech-enabled marketing solutions focused on customer acquisition and engagement for Fortune 1000 customers. No financial terms were disclosed. PRESS RELEASE MIAMI–(BUSINESS WIRE)–H.I.G. Capital (“H.I.G.”), a leading global private equity investment firm with $30 billion of equity capital under management, is pleased to announce that one of its affiliates has completed the acquisition of Vision Integrated Graphics Group LLC (“Vision” or the “Company”), a leading provider of tech-enabled marketing solutions focused on customer acquisition and engagement for Fortune 1000 customers. Headquartered in Bolingbrook, IL, Vision provides personalized, turnkey marketing solutions which generate high returns on investment for blue-chip customers across several industries, including financial services, insurance, healthcare, retail and automotive. The Company’s end-to-end automated marketing campaigns and direct mail programs leverage technology and data in conjunction with best-in-class production and
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Midstream company Cavalcade racks up $150 mln

San Antonio-based Cavalcade Midstream, a midstream company, has secured $150 million in funding. The investors were Pearl Energy Investments, Old Ironsides Energy and NGP. Norton Rose Fulbright served as legal advisors to Cavalcade on the transaction while Thompson & Knight did likewise for Pearl, Old Ironsides and NGP. PRESS RELEASE SAN ANTONIO–(BUSINESS WIRE)–Cavalcade Midstream (Cavalcade), a newly formed, full-service midstream company, announced today that it has received a total equity commitment of $150 million from Pearl Energy Investments (Pearl), Old Ironsides Energy (Old Ironsides), and NGP. Based in San Antonio, Cavalcade is focused on providing tailored midstream solutions through greenfield development and strategic M&A, initially in the Permian Basin. Cavalcade is led by three founding partners, Rich Reynolds, Hunter Thunell, and Ross Dillon, who previously worked together at NuStar Energy L.P. (NuStar). Cavalcade’s founders have a history of success across multiple basins, including the Permian and Eagle Ford, and
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Cerberus to buy Sparton for $18.50 per share

Cerberus Capital Management LP has agreed to acquire Sparton Corporation, a provider of electromechanical devices, for $18.50 per share in cash. The deal is expected to close in the first calendar quarter of 2019. J.P. Morgan Securities LLC acted as financial adviser to Cerberus with Lowenstein Sandler LLP, Kirkland & Ellis LLP and Blank Rome LLP providing legal counsel. And, Wells Fargo Securities LLC and Raymond James & Associates Inc served as financial advisers to Sparton while Mayer Brown LLP acted as legal counsel. PRESS RELEASE SCHAUMBURG, Ill.–(BUSINESS WIRE)–Sparton Corporation (“Sparton” or the “Company”) (NYSE:SPA) today announced that it has entered into a definitive agreement to be acquired by an affiliate of Cerberus Capital Management, L.P. (“Cerberus”), a global leader in alternative investing. Under the terms of the agreement, Cerberus will acquire all outstanding shares of Sparton’s common stock for $18.50 per share in
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New Mountain to invest in Remedy Partners

New Mountain Capital has agreed to make an investment in Norwalk, Connecticut-based Remedy Partners, a provider of software and services for health insurers and health care providers. No financial terms were disclosed. PRESS RELEASE NEW YORK–(BUSINESS WIRE)–Remedy Partners today announced it has entered into agreements securing an investment from New Mountain Capital, a leading private equity investment firm. The investment by New Mountain supports Remedy’s leadership role in the rapidly emerging health care bundled payments industry. “New Mountain prides themselves on building great businesses,” said Steve Wiggins, Remedy’s Founder and Chairman. “They have built an impressive portfolio of leading health care companies, in sectors complementary to Remedy. We are excited to become a part of that family.” The investment is a recapitalization in which early venture capital investors sold part of their stake to New Mountain, although all previous investors will remain shareholders. The transaction is expected to
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MidOcean buys and merges Hanley Wood and Meyers Research

MidOcean Partners has acquired Hanley Wood, a B2B  media and information services company serving the U.S. residential construction industry. In conjunction with this transaction, the middle-market private equity firm has also acquired Meyers Research, a provider of real-time market data and advisory services to the homebuilding industry, from Kennedy Wilson. No financial terms were disclosed. MidOcean has merged both companies to create an information and advisory services platform for the residential construction sector. Evercore served as financial adviser to Hanley Wood while Vaquero Capital did likewise for Meyers Research. PRESS RELEASE NEW YORK, December 12, 2018 – MidOcean Partners (“MidOcean”), a premier middle market private equity firm focused on the business services and consumer sectors, announced today its acquisitions and merger of HW Holdco, LLC (“Hanley Wood”), the leading B2B media and information services company serving the U.S. residential construction industry, and Meyers Research, LLC (“Meyers
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