Cavalli owner hires Rothschild to find minority partner, say sources: Reuters

Private equity Clessidra has hired Rothschild to look into the option of finding a minority partner for fashion group Roberto Cavalli to help fund growth, two sources familiar with the matter said on Monday, confirming earlier press reports. Clessidra owns 90 percent of Roberto Cavalli through the vehicle Varenne. Rothschild declined to comment. In September a Clessidra manager said the fund had no plans to leave Cavalli capital.

Veritas Capital to buy Cambium for $14.50 per share

Veritas Capital has agreed to acquire Cambium Learning Group from Veronis Suhler Stevenson for $14.50 per share. The deal is expected to close in the fourth quarter of 2018 or the first quarter of 2019. Macquarie Capital was financial adviser to Cambium on the deal with Lowenstein Sandler LLP providing legal advice. And, Schulte Roth & Zabel LLP served as legal counsel to Veritas Capital. Cambium is a provider of educational technology solutions. PRESS RELEASE DALLAS, Oct. 15, 2018 (GLOBE NEWSWIRE) — Cambium Learning® Group, Inc. (Nasdaq: ABCD, the “Company”), a leading educational technology solutions company committed to helping all students reach their full potential, announced today that it has entered into a definitive merger agreement with certain affiliates of Veritas Capital, a leading private equity investment firm, for the acquisition of the Company. Pursuant to the terms of the merger agreement, the holders of common stock of the
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Auxo invests in Prestige Stamping

Auxo Investment Partners has made an investment in Michigan-based Prestige Stamping Inc, a maker of stampings for the fastener industry. No financial terms were disclosed for the deal that was done in partnership with the Rink family. PRESS RELEASE October 15, 2018 (Warren, Mich.) – Private equity firm Auxo Investment Partners announced today that it has partnered with the Rink family with its investment in Prestige Stamping, Inc., a Michigan-based high-speed niche manufacturer of custom engineered stampings for the fastener industry. The deal, terms of which were not disclosed, marks Auxo’s fifth acquisition in 13 months and follows the September closing of the firm’s inaugural investment fund, Auxo Growth Holdings I LLC. Prestige is a dominant player in the market for high-volume, tight-tolerance washers and similar small stampings, and manufactures over a billion washers and metal stampings annually for more than 200 customers across a diverse set
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Evergreen sells Gene Juarez Salons & Spas to Transom

Transom Capital Group has acquired Seattle-based Gene Juarez Salons & Spas, a fashion and beauty brand, from Evergreen Pacific Partners. No financial terms were disclosed. O’Melveny was M&A counsel for Transom Capital on the deal while D.A. Davidson & Co. served as financial adviser to Gene Juarez. PRESS RELEASE SEATTLE – October 15, 2018 – Transom Capital Group (Transom), a leading operations-focused middle market private equity firm, today announced it has acquired Gene Juarez Salons & Spas, an iconic Seattle fashion and beauty brand, from Evergreen Pacific Partners. As Seattle’s first contemporary fashion salon, Gene Juarez introduced Seattle women to best in class service, artistry and innovative European haircutting techniques. Since its founding in 1971, through its commitment and dedication to clients, artistry and innovative education, Gene Juarez Salons & Spas has grown to 10 salon & spa locations. The company’s relentless focus on excellence, quality and service
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Arcapita invests in Saudi Arabian women’s fitness chain NuYu

Arcapita has made an investment in NuYu, a women’s fitness chain in Saudi Arabia. No financial terms were disclosed. PRESS RELEASE MANAMA, Bahrain, October 15, 2018 /PRNewswire/ –Arcapita – a global leader in Shari’ah-compliant alternative investments – has invested in NuYu, a leading chain of women-only boutique gyms in Saudi Arabia. Arcapita’s capital will help NuYu deploy over SAR 250 million ($67 million) to grow its network of boutique gyms from seven to over 30 across the Kingdom. The new centers are expected to create hundreds of jobs, as well as provide women access to fitness outlets in currently underserved locations. The investment will enable the company – with five boutique gyms in Riyadh and one each in both Khobar and Dammam – to capitalize on the significant market opportunity arising from a landmark decision by the General Sports Authority to grant licenses for female boutique gyms. This follows
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Carlyle, Meinian Onehealth Healthcare invest in Adicon Holding

Carlyle Group and Meinian Onehealth Healthcare have invested in Adicon Holding Ltd. Financial terms weren’t announced. Adicon operates 20 diagnostic laboratories in China, offering diagnostic testing outsourcing services to more than 10,000 active customers, including hospitals, clinics and contract research organizations (CROs) in 28 provinces. PRESS RELEASE Hangzhou, China – Global alternative asset manager The Carlyle Group (NASDAQ: CG) today announced that it, together with Meinian Onehealth Healthcare Holdings Co., Ltd., has invested in and become the single largest shareholder of, Adicon Holding Limited, one of the largest independent clinical laboratory (ICL) companies in China. Equity for the investment came from Carlyle Asia Partners V, Carlyle’s flagship US$6.55 billion fund focused on buyout and strategic investments across a range of sectors in Asia Pacific. Established in 2004, Adicon operates 20 fully-owned diagnostic laboratories in China, offering diagnostic testing outsourcing services to more than 10,000 active customers, including hospitals, clinics
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Carlyle, Meinian Onehealth Healthcare invest in Adicon Holding

Carlyle Group and Meinian Onehealth Healthcare have invested in Adicon Holding Ltd. Financial terms weren’t announced. Adicon operates 20 diagnostic laboratories in China, offering diagnostic testing outsourcing services to more than 10,000 active customers, including hospitals, clinics and contract research organizations (CROs) in 28 provinces. PRESS RELEASE Hangzhou, China – Global alternative asset manager The Carlyle Group (NASDAQ: CG) today announced that it, together with Meinian Onehealth Healthcare Holdings Co., Ltd., has invested in and become the single largest shareholder of, Adicon Holding Limited, one of the largest independent clinical laboratory (ICL) companies in China. Equity for the investment came from Carlyle Asia Partners V, Carlyle’s flagship US$6.55 billion fund focused on buyout and strategic investments across a range of sectors in Asia Pacific. Established in 2004, Adicon operates 20 fully-owned diagnostic laboratories in China, offering diagnostic testing outsourcing services to more than 10,000 active customers, including hospitals, clinics
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Carlyle to buy Apollo Aviation Group

Carlyle Group said Oct. 15 that it agreed to buy Apollo Aviation Group (AAG), which has $5.6 billion in assets under management including 243 aircraft owned, managed or committed to purchase. AAG will become a new business line, operating as Carlyle Aviation Partners Ltd., within Carlyle’s Global Credit Segment. PRESS RELEASE New York, NY – Global alternative asset manager The Carlyle Group (NASDAQ: CG) today announced it has agreed to acquire 100% of Apollo Aviation Group (AAG), a global commercial aviation investment and servicing firm with $5.6 billion in assets under management including 243 aircraft owned, managed or committed to purchase. AAG will become a new business line, operating as Carlyle Aviation Partners Ltd., within Carlyle’s Global Credit Segment. The transaction is subject to customary conditions and is expected to close no later than January 31, 2019. Established in 2002, AAG raises closed-end funds from limited
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Carlyle to buy Apollo Aviation Group

Carlyle Group said Oct. 15 that it agreed to buy Apollo Aviation Group (AAG), which has $5.6 billion in assets under management including 243 aircraft owned, managed or committed to purchase. AAG will become a new business line, operating as Carlyle Aviation Partners Ltd., within Carlyle’s Global Credit Segment. PRESS RELEASE New York, NY – Global alternative asset manager The Carlyle Group (NASDAQ: CG) today announced it has agreed to acquire 100% of Apollo Aviation Group (AAG), a global commercial aviation investment and servicing firm with $5.6 billion in assets under management including 243 aircraft owned, managed or committed to purchase. AAG will become a new business line, operating as Carlyle Aviation Partners Ltd., within Carlyle’s Global Credit Segment. The transaction is subject to customary conditions and is expected to close no later than January 31, 2019. Established in 2002, AAG raises closed-end funds from limited
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EagleTree Capital buys majority of Gaylord Chemical

EagleTree Capital has acquired a majority of Gaylord Chemical Co LLC. Financial terms weren’t announced. Gaylord CEO Paul Dennis, and other existing shareholders, will retain a stake. Alberta Teachers’ Retirement Fund Board and Farol Asset Management are investing in Gaylord alongside EagleTree. Gaylord, of Slidell, Louisiana, is a specialty chemical producer. PRESS RELEASE Slidell, LA and New York, NY – October 15, 2018 – Gaylord Chemical Company, LLC (“Gaylord” or the “Company”), a global leader in specialty chemical production and innovation, and EagleTree Capital (“EagleTree”), on behalf of its private equity fund EagleTree Partners IV, today announced that EagleTree has acquired a majority stake in Gaylord. The Company’s Chief Executive Officer, Paul Dennis, and other existing shareholders will retain a significant stake in the Company. Co-investors, including the Alberta Teachers’ Retirement Fund Board and Farol Asset Management, are investing alongside EagleTree. Terms of the transaction were not disclosed.  
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SmileDirectClub raises $380 mln

SmileDirectClub said Oct. 10 that it completed a $380 million private placement led by Clayton, Dubilier & Rice. Kleiner Perkins and Spark Capital also invested. SmileDirectClub, of Nashville, provides invisible aligners to straighten teeth. J.P. Morgan served as placement agent to SmileDirectClub in connection with the transaction. Adam PhillipsJonathan Manor and Karen Lee of Kirkland & Ellis represented CD&R. PRESS RELEASE NASHVILLE, TENN., Oct. 10, 2018 (GLOBE NEWSWIRE) — SmileDirectClub, the pioneer of at-home, doctor-directed aligner therapy, today announced the completion of its first institutional private placement of equity capital for a total of $380 million. In addition, the Company received a valuation of $3.2 billion. Clayton, Dubilier & Rice (CD&R), one of the world’s leading private equity investors, led the financing, which included meaningful participation from Kleiner Perkins and Spark Capital. As part of the transaction, Rick Schnall, a CD&R Partner, will join SmileDirectClub’s
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Spectrum Equity buys majority of AllTrails

Spectrum Equity said Oct. 11 that it has acquired a majority of AllTrails. Financial terms weren’t announced. AllTrails, of San Francisco, provides a digital guide to the outdoors. AllTrails was advised by Stubbs Alderton & Markiles while GP Bullhound served as financial adviser. Spectrum Equity was advised by Latham & Watkins. PRESS RELEASE Boston and San Francisco, October 11, 2018 (Newswire.com) -Spectrum Equity announced that it led a substantial new investment in AllTrails, the most trusted and used digital guide to the outdoors, to help accelerate product development, add more trail content around the world and grow the company’s user base. As part of the transaction, Spectrum acquired a majority stake in AllTrails, in partnership with the company’s CEO Jade Van Doren, and COO Ron Schneidermann.
AllTrails helps over 9 million registered users discover, record and share their outdoor experiences, including hiking, mountain biking and trail running. AllTrails has
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Trive and Five Crowns recap Picture Head

Trive Capital and Five Crowns Capital have recapitalized Los Angeles-based Picture Head, a provider of critical post-production content editing, finishing and storage services for leading feature film, episodic TV and other media studios. No financial terms were disclosed. PRESS RELEASE Trive Capital (“Trive”), the Dallas-based private equity firm and Newport Beach-based Five Crowns Capital (“Five Crowns”) sponsored the recapitalization of Picture Head Holdings, LLC (“Picture Head” or the “Company”) to support its continued expansion. Picture Head is a facility-based, tech-enabled business services company that provides critical post-production content editing, finishing and storage services for leading feature film, episodic TV and other media studios. The platform operates through three divisions, Picture Head, Picture Shop and Formosa Group, with multiple locations in North America focused on complementary areas of the post-production services supply chain. The Company services a diverse set of studio relationships, streaming providers and related content creation customers by
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Endless buys European golf retailer American Golf

UK-based private equity firm Endless has acquired European golf retailer American Golf. No financial terms were disclosed. PRESS RELEASE The Manchester office of Endless, the mid-market private equity investor, has completed the acquisition of Europe’s largest golf retailer, American Golf. The deal includes 112 of the 132 American Golf retail stores across the UK and Eire, the Americangolf.co.uk and Onlinegolf.co.uk websites and safeguards the jobs of over 900 employees in stores and at the Head Office in Warrington. American Golf was established in 1970 and has a turnover of approximately £140 million. It provides a comprehensive range of golf clubs, equipment, shoes and clothing and employs over 50 PGA professionals and 20 Master Fitters who provide custom fitting services and specialist in-store advice. The deal was led by Endless Manchester Partner Tom Jack and Investment Director Richard Harrison, both of whom will join the American Golf
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Pacific Current Group exits Aperio

Pacific Current Group Ltd said Oct. 4 that it closed the sale of its stake in Aperio Group. Pacific Current received $71.9 million in pre-tax proceeds and expects to receive another $2.6 million. Pacific Current invested in Aperio, a Sausalito, California investment management firm, in 2015, according to press reports. Golden Gate Capital acquired a majority of Aperio in August. PRESS RELEASE SYDNEY (4 October 2018) – Pacific Current Group Limited (ASX: PAC) is pleased to announce the completion of the sale of its interests in Aperio Group. Today, PAC received US$71.9 million of sale proceeds (pre-tax) and expects to receive an additional US$2.6 million on 5 October 2018, which represents PAC’s share of Aperio’s income through 3 October 2018. “Today ends a short, albeit very successful investment for PAC,” said PAC CEO Paul Greenwood. “We feel privileged to have invested in a company of Aperio’s calibre,
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MBF to take a majority stake in Affinity Hospice

MBF Healthcare Partners has agreed to acquire a majority stake in Birmingham, Alabama-based Affinity Hospice, a provider of hospice care services. No financial terms were disclosed. The deal is expected to close in November. PRESS RELEASE CORAL GABLES, Fla.–(BUSINESS WIRE)–MBF Healthcare Partners (“MBF”) is pleased to announce that it has executed a definitive agreement to acquire a majority interest in Affinity Hospice. Headquartered in Birmingham, Alabama, Affinity Hospice is a leading provider of hospice care services to patients in the Alabama and Georgia markets. Ray Shrout, CEO of Affinity Hospice, will maintain a substantial equity position in the company and together with MBF will work to create a best-in-class national provider of hospice services. “The team at Affinity Hospice is excited with the new partnership and the experience, support, and value that MBF brings to our organization. We look forward to working together with MBF to continue a Standard
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KKR acquires Minnesota Rubber and Plastics from NEP

KKR has acquired Minnesota Rubber and Plastics from Norwest Equity Partners. No financial terms were disclosed. The deal is expected to close by the end of the year. Benesch, Friedlander, Coplan & Aronoff LLP advised KKR on the transaction while Houlihan Lokey, Skadden, Arps, Slate, Meagher & Flom LLP and Ballard Spahr LLP advised MRP and NEP. MRP is a provider of elastomer and thermoplastic solutions. PRESS RELEASE MINNEAPOLIS & NEW YORK–(BUSINESS WIRE)–Quadion LLC, d.b.a. Minnesota Rubber and Plastics (“MRP” or the “Company”), a leading provider of elastomer and thermoplastic solutions, announced today that it is being acquired by KKR, a global investment firm, from Norwest Equity Partners (“NEP”), a Minneapolis-based middle-market equity investment firm. This transaction marks KKR’s second acquisition of a middle-market business in the industrials sector and is being funded through KKR’s Americas XII Fund. Financial details of the transaction were not disclosed. MRP offers
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Eden Capital buys Tour de Force

Eden Capital has acquired Findlay, Ohio-based Tour de Force, a provider of customer relationship management, sales force automation, business intelligence and business process optimization software solutions. No financial terms were disclosed. Perkins Coie LLP served as legal adviser to Eden while Elm Park Capital provided debt financing for the transaction. PRESS RELEASE NEW YORK – October 11, 2018 – Eden Capital (“Eden”) announced today that it has acquired Tour de Force Inc. (“Tour de Force”), a growing provider of customer relationship management, sales force automation, business intelligence and business process optimization software solutions designed to help business-to-business sales organizations improve processes, from sales to support. Tour de Force will join Eden’s growing sales force automation platform, Compass Sales Solutions (“Compass”). Compass is a leading sales force automation provider for the office technology industry. Eden is a private equity firm focused on investments in sectors including software and business services.
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