KEMET Buys Niotan
KEMET Corp., a listed manufacturer of tantalum, ceramic, aluminum, film, paper and electrolytic capacitors, will acquire all of the outstanding shares of Niotan Inc. from Denham Capital Management. Niotan has been a significant supplier of tantalum powder to KEMET for several years, the company said in a statement. Terms of the deal were not released....
H.I.G. Completes Sale of Service Net
H.I.G. Capital, the Miami-based buyout shop, announced Thursday that it has completed the sale of Service Net to Chartis U.S. Inc. Chartis is a wholly owned subsidiary of American International Group. Terms of the deal were not released. H.I.G. Capital has invested in Service Net twice in the past several years: The firm recapitalized Service...
Lightyear Capital Buys Paradigm Management
Sterling Partners has sold Paradigm Management Services to Lightyear Capital. Financial terms of the deal, which closed Feb. 1, were not announced. Walnut Creek, Calif.-based Paradigm provides healthcare management services. News of the transaction was announced by Harris Williams which provided financial advice to Paradigm.
Chartis U.S. Buys Service Net from H.I.G. Capital
H.I.G. Capital said Wednesday that it has closed the sale of Service Net to Chartis U.S., a subsidiary of AIG. Financial terms were not announced. Jeffersonville, Ind.-based Service Net offers extended warranty programs for products including major appliances and consumer electronics.
Platinum Equity Exits Canvas Systems
Platinum Equity has sold Canvas Systems, a supplier of IT hardware and services, to publicly traded Avnet Inc. Terms were not released. Platinum acquired controlling interest in Canvas in 2009 from OHC. OHC retained a minority interest in Canvas, which it also sold as a part of the deal.
Wellspring Capital Buys ThermaSys–UPDATED
Wellspring Capital Management announced that it has acquired ThermaSys Corp., a maker of heat exchangers and heat exchange equipment. Terms of the deal were not released. Wellspring bought the company from Sun Capital Partners.
Carlyle, Warburg Pincus Sell India Shares
US private equity giants Carlyle Group and Warburg Pincus reduced stakes in two financial firms in separate deals, writes Reuters. Carlyle sold a quarter of its stake in India’s top mortgage lender, Housing Development Finance Corp, raising about $270 million and nearly doubling their money from a 2007 investment, according to Reuters. In an unrelated...
Unitas Buys Carlyle Stake in China’s Babela Group
Private equity fund Unitas Capital has acquired Carlyle Group’s stake in China restaurant chain Babela Group, writes Reuters. Asia-based Unitas said it had acquired a majority stake in Babela, which owns three restaurant brands in China, for $40 million. The firm did not disclose the names of the investors.
Reuters - Private equity fund Unitas Capital...
TA Associates Completes Sale of TaxACT to InfoSpace
InfoSpace said Tuesday that it has closed its buy of TaxACT. The deal was valued at $287.5 million. TA Associates owned a majority stake. Cedar Rapids, Iowa-based TaxACT provides online tax solutions.
IBM Buys Worklight
IBM will acquire Israel-based Worklight, a maker of mobile software for smartphones and tablets. Terms of the deal were not released. The company was backed by investors including Pitango Venture Capital, Genesis Partners and Index Ventures.
ICV Partners Exits Entertainment Cruises
ICV Partners, buyout shop focused on lower middle-market companies, exited its investment in Chicago-based Entertainment Cruises Inc. The firm said that it yielded a nearly 3x return on its investment. Terms of the deal, however, were not released. The firm said that the buyer is a “private, long-term investor.”
AngioDynamics Pays $372M for Navilyst
Publicly traded medical device maker AngioDynamics is buying private equity-backed Navilyst Medical in a deal valued at $372 million. Avista Capital Partners acquired Navilyst Medical from Boston Scientific in 2008. Navilyst is a medical device company focused on areas including vascular access, interventional radiology and interventional cardiology.
