Kentucky Trailer to take a majority stake in CEO


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Kentucky Trailer, which is backed by Alleghany Capital, has agreed to acquire a majority stake in Cedar Rapids, Iowa-based CEI Equipment Company, a provider of aluminum feed transportation equipment. No financial terms were disclosed.

PRESS RELEASE

NEW YORK, NY, December 20, 2018 – Alleghany Capital Corporation (“Alleghany Capital”), a wholly-owned subsidiary of Alleghany Corporation, today announced that its subsidiary, R.C. Tway Company, LLC (dba Kentucky Trailer), a leading manufacturer of custom trailers and truck bodies serving a variety of end markets, has reached a definitive agreement to acquire a majority interest in CEI Equipment Company LLC (“CEI” or the “Company”). Headquartered in Cedar Rapids, Iowa, CEI is a global industry leader in the production and service of a broad range of aluminum feed transportation equipment. CEI is led by management members, Dan McDowell, Jim Ross, and Jim Stoelk.

Gary A. Smith, Sr., President and Chief

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PE-backed Western Dental acquires Guardian’s DSO


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Western Dental Services, which is backed by New Mountain Capital LLC, has acquired Guardian Life Insurance Company’s dental service organization. No financial terms were disclosed. Cain Brothers provided financial advice to Guardian on the transaction.

PRESS RELEASE

The Guardian Life Insurance Company (“Guardian” or the “Company”) has sold its Dental Service Organization (“DSO”) to Western Dental Services (“Western Dental”). Western Dental is a portfolio company of New Mountain Capital, LLC (“New Mountain”).
Based in New York City, NY, Guardian is a leading mutual life insurance company that provides dental, vision, life, disability and other benefits for individuals, at the workplace and through government sponsored programs. Its DSO business, comprised of more than 60 offices throughout the Western U.S, has a longstanding history and established reputation for providing affordable, high-quality dental care with services including general dentistry, pediatric dentistry and orthodontics. The DSO supports dental offices in

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Anzu Partners exits Axsun Technologies


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Anzu Partners has sold Axsun Technologies, a provider of MEMS-based optical engines for medical imaging, industrial spectroscopy and optical telecommunications, to Excelitas Technologies Corp. No financial terms were disclosed. Needham & Company LLC served as financial adviser to Axsun on the deal.

PRESS RELEASE

WASHINGTON, Jan. 2, 2019 /PRNewswire/ — Anzu Partners, a venture capital and private equity firm that invests in breakthrough industrial technologies, today announced that it has completed the sale transaction of Axsun Technologies to Excelitas Technologies Corp. The terms of the deal were not disclosed.

Axsun Technologies is a leading developer and supplier of MEMS-based optical engines for medical imaging, industrial spectroscopy, and optical telecommunications. Axsun’s optical engines enable many of the worlds leading optical coherence tomography (OCT) imaging systems used by opthalmologists, cardiologists, and other medical specialists. In recent years, Axsun has shipped more than 15,000 devices for these applications.

Anzu Partners acquired Axsun

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PE-backed Columbus buys Support Associates


This post is by Iris Dorbian from PE Hub Blog: PE-Backed Mergers and Acquisitions


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The Columbus Organization, a portfolio company of HealthEdge Investment Partners LLC, has acquired Support Associates of Tampa Bay, a provider of support coordination services. No financial terms were disclosed.

PRESS RELEASE

Tampa, Florida – January 2, 2019 – The Columbus Organization (“Columbus” or the “Company”), a portfolio company of HealthEdge Investment Partners, LLC (“HealthEdge”), has expanded its national footprint to Florida with the acquisition of Support Associates of Tampa Bay (“Support Associates”).

Columbus is a nationally recognized provider of support coordination and other services for individuals with Intellectual and Developmental Disabilities (I/DD). Founded by Lynda Debenedet and Rebecca Spadola, Tampa, FL-based Support Associates has provided support coordination services, life skills training, and personal adjustment counseling under the Brain and Spinal Cord Injury Waiver and Adult Cystic Fibrosis Waiver in Hillsborough, Pasco and Pinellas counties for over a decade. Additionally, the company has offered training services to support coordinators

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HJB and MabSpace merge to form Transcenta


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HJB and MabSpace Biosciences have merged to form Transcenta Holding Ltd, a biotherapeutics company. No financial terms were disclosed. BFC Group Ltd served as financial adviser on the transaction. Dr. Xueming Qian, former founder, chairman and CEO of MabSpace, will serve as CEO of Transcenta while Dr. Jonathan Yining Zhao, co-founder and CEO of HJB, will serve as executive chairman. The backers of HJB and MabSpace include Lilly Asia Ventures, Temasek, Sequoia China, ARCH Venture Partners, Teng Yue Partners and Taikang.

PRESS RELEASE

HONG KONG, SHANGHAI, SUZHOU and HANGZHOU, China, Jan. 1, 2019 /PRNewswire/ — HJB and MabSpace Biosciences (MabSpace) today announced that the two companies have entered into a definitive merger agreement to create Transcenta Holding Ltd. (Transcenta), a world-class biotherapeutics company with fully-integrated capabilities in research, development, regulatory and manufacturing of biologics. Dr. Xueming Qian, former Founder, Chairman and CEO of MabSpace, will serve as Chief

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PE-backed Fortis acquires Infinite Packaging Group


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Fortis Solutions Group LLC, a portfolio company of Main Post Partners, has acquired Infinite Packaging Group Inc, a converter of label products. No financial terms were disclosed. Infinite was backed by Svoboda Capital Partners LLC.

PRESS RELEASE

VIRGINIA BEACH, Va., Jan. 2, 2019 /PRNewswire/ — Fortis Solutions Group LLC, a portfolio company of Main Post Partners, is pleased to announce the acquisition of Infinite Packaging Group, Inc., a portfolio company of Svoboda Capital Partners LLC.
Infinite, with facilities in Lewisville, TX and Catoosa, OK, is a full-service converter of label products, including pressure sensitive labels, shrink sleeves and complementary products and services. Infinite serves a diverse group of clients in several consumer vertical markets including consumer products, retail, food and beverage, nutraceuticals and health and beauty. In addition, the Company has developed a specialized line of products and solutions for e-commerce sales.

Fortis President and CEO

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Homewood Holdings buys Eagle Creek Siding, Mud Bay Manufacturing


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Homewood Holdings LLC, a portfolio company of Building Industry Partners LLC, has acquired the assets of Eagle Creek Siding LLC and Mud Bay Manufacturing LLC. Financial terms weren’t announced. Jon Hunter and Scott Kramer, the owners, were the sellers. Eagle Creek Siding, of Olympia, Washington, installs exterior siding for both single-family and multi-family residential projects. Mud Bay makes wood building products, siding accessories, architectural and structural supports, and exterior details for contractors and homebuilders.

PRESS RELEASE
HOMEWOOD HOLDINGS ACQUIRES SEATTLE’S LARGEST SIDING CONTRACTOR, EAGLE CREEK SIDING, AND RELATED MANUFACTURER, MUD BAY MANUFACTURING
The acquisition represents Homewood’s fourth investment and advances Homewood’s commitment to provide exceptional value and service to Pacific Northwest homebuilders, contractors and DIY customers.
Olympia, WA – January 2, 2019 – Homewood Holdings LLC (“Homewood”), a portfolio company of the investment firm, Building Industry Partners LLC (“BIP”), has acquired the assets of Eagle Creek Siding,

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Blackstone-backed Phoenix Tower buys Syscom Telecom


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Phoenix Tower International, which is backed by Blackstone Group and John Hancock, said Dec. 28 that it acquired Syscom Telecom LLC. Financial terms weren’t announced. Syscom Telecom manages and markets more than 80,000 sites for small cell and macro cell deployments in the U.S.

PRESS RELEASE

BOCA RATON, Fla., Dec. 28, 2018 /PRNewswire/ — Phoenix Tower International (PTI) announces its acquisition of Syscom Telecom, LLC, thereby adding over 80,000 marketable sites to PTI’s US portfolio.

Syscom Telecom, LLC, a small cell deployment business in the United States, manages and markets over 80,000 sites for small cell and macro cell deployments with various small cell master agreements in place with wireless operators.

“PTI has been evaluating opportunities to back a small cell focused team in the United States as a way to help our customers with their next generation deployments,” stated Dagan Kasavana, Chief Executive Officer of Phoenix Tower International. He continued,

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Euronext secures majority backing of Oslo exchange shareholders ahead of bid: Reuters


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Pan-European exchanges group Euronext NV (ENX.PA), which plans a bid to buy Oslo Bors OSLO.NFF, said on Friday it had now secured the backing of a majority of shareholders in the Norwegian stock market operator.

Euronext said shareholders representing 50.6 percent of the capital of Oslo

Bors had agreed to sell their shares ahead of the tender offer that Paris-listed Euronext plans to launch in the coming weeks.

On Monday, Euronext had said shareholders representing 49.6 percent of Oslo Bors’ capital backed its bid.

Euronext, which already operates bourses in Paris, Amsterdam, Brussels, Lisbon and Dublin, has offered to buy Oslo Bors for 625 million euros ($716 million), a price that represents a 21 percent premium to the Norwegian firm’s share price at the close of trade on Dec. 21.

“Exceeding the 50 percent of total outstanding shares threshold shows the interest from Oslo Bors VPS

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Yankees in talks with Amazon, Sinclair to bid for Yes Network: WSJ


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The New York Yankees are in talks with Amazon.com Inc and Sinclair Broadcast Group Inc about a joint bid for the team’s regional sports network, Yes, the Wall Street Journal reported on Friday, citing people familiar with the matter.

The baseball team, which owns 20 percent of Yes, has also been talking to other potential partners including cable and satellite TV provider Altice USA and RedBird Capital about buying the remaining 80 percent stake from Walt Disney Co, the WSJ reported.

Disney is seeking a valuation of $5 billion to $6 billion for Yes Network, according to the report.

The talks are still in early stages and a partnership with either Amazon or Sinclair isn’t guaranteed, sources told the Journal.

Disney, which is buying Twenty-First Century Fox Inc’s film and television assets, had said it would divest 22 of Fox’s regional sports networks, including New York-focused Yes Network,

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PE-backed DJR buys Encana’s San Juan Basin assets


This post is by Iris Dorbian from PE Hub Blog: PE-Backed Mergers and Acquisitions


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DJR Energy, which is backed by Trilantic Capital Management LP, Waveland Energy Partners and Global Energy Capital, has acquired Encana Corporation‘s San Juan Basin assets. No financial terms were disclosed.

PRESS RELEASE

Denver, Colorado – December 27, 2018 – DJR Energy, LLC (“DJR” or the “Company”) has closed on the previously announced acquisition of Encana Corporation’s (“Encana”) San Juan Basin assets. Today the Company holds the largest position in the core of the oil window in the San Juan Basin with over 350,000 net acres and an inventory of over 1,100 high value drilling locations boasting breakevens competitive with other premier oil basins. At close of the pending acquisition, DJR will have production of approximately 7,000 barrels of oil equivalent per day and a gas midstream gathering system servicing its assets.

“We look forward to continuing to unlock the potential of the southern San Juan Basin and

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NEC to buy KMD for $1.2 bln


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NEC Corp said Dec. 27 that it is buying KMD Holding ApS for about 8 billion Danish kroner ($1.2 billion). Advent International is the seller. KMD is holding company of KMD A/S, which provides software and IT services in Denmark.

PRESS RELEASE
December 27, 2018 02:30 AM Eastern Standard Time
TOKYO–(BUSINESS WIRE)–NEC Corporation (NEC)(TOKYO:6701) today announced the acquisition of KMD Holding ApS, the holding company of KMD A/S (KMD), the largest Danish IT company. NEC is acquiring KMD for approximately 8 billion Danish Kroner (DKK) from Advent International, one of the world’s largest and most experienced private equity investors. The acquisition is expected to be completed by the end of February 2019.
NEC is a leader in the integration of IT and network technologies that benefit businesses and people around the world. This acquisition will accelerate NEC’s global safety business, which it has positioned as a growth engine

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Modern Aviation buys Gateway USA LLC


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Modern Aviation, which is backed by Tiger Infrastructure Partners, said Dec. 26 that it acquired Gateway USA LLC. Financial terms weren’t announced. Gateway USA operates one of the two main FBOs at Boeing Field in Seattle.

PRESS RELEASE

NEW YORK, Dec. 26, 2018 /PRNewswire/ — Modern Aviation announced that it has acquired Gateway USA, LLC, which operates one of the two main FBOs at Boeing Field (“KBFI”) in Seattle, WA. The Seattlefacility, which will be rebranded as Modern Aviation in the first quarter of 2019, is the third FBO acquisition closed in less than 12 months for Modern Aviation, an FBO platform backed by Tiger Infrastructure Partners.
The FBO offers more than 65,000 square feet of hangar space, 18,000 square feet of terminal and office space, and aircraft maintenance, repair and overhaul services via its Part 145 Repair Station. Gateway is also the exclusive authorized dealer and service

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Visa to buy British payments firm Earthport for about $250 million: Reuters


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(Reuters) – Visa Inc (V.N) is paying 198 million pounds ($250.6 million) to buy Earthport Plc (EPO.L), a British firm that facilitates international transactions for banks and businesses, the U.S.-based payments group said on Thursday.

Visa International Service Association, a unit of Visa, has offered 30 pence for each Earthport share, a price that is four times the stock’s Monday closing price of 7.45 pence.

Earthport shares surged in early trading on Thursday and matched the offer price.

The London-headquartered firm said Visa’s proposal was “fair and reasonable” and that it would recommend its shareholders take up the all-cash offer.

Earthport’s shares, listed on the London Stock Exchange’s secondary market, have fallen more than 28 percent this year amid growing losses and expenses, forcing the firm to say last month that “fundamental” change was required in its strategy.

Earthport

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PE-backed Ravn acquires PenAir assets


This post is by Iris Dorbian from PE Hub Blog: PE-Backed Mergers and Acquisitions


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Ravn Air Group, which is backed by J.F. Lehman & Company, has acquired PenAir‘s assets. No financial terms were disclosed. BlankRome and Keller & Benvenutti provided legal counsel to Ravn and JFLCO on the deal. Based in Anchorage, Alaska, PenAir is a regional airline.

PRESS RELEASE

NEW YORK, Dec. 26, 2018 /PRNewswire/ — Ravn Air Group, Inc. (“Ravn”), a portfolio company of investment affiliates of J.F. Lehman & Company (“JFLCO”), announced today the purchase of the assets of Peninsula Airways, Inc. (“PenAir”) by one of its subsidiaries.

Headquartered in Anchorage, Alaska, PenAir is a regional Part 121 airline operating passenger, freight, and charter flights to seven destinations in Southwest Alaska and the Aleutian and Pribilof Islands. JFLCO and Ravn were the prevailing bidders in a Section 363 bankruptcy auction for the assets of the company.

Ravn is a leading provider of regional air transportation and logistics

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Abry-backed Hilb Group adds-on H.J. Knight International Insurance Agency


This post is by Chris Witkowsky from PE Hub Blog: PE-Backed Mergers and Acquisitions


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Abry Partners-backed Hilb Group acquired Massachusetts-based H.J. Knight International Insurance Agency effective Dec. 1, 2018. HJK is a full-service brokerage in commercial insurance and risk management industry. Managing Director Matt Lanza and his team will continue to operate out of HJK’s Braintree, MA location.

Press Release

The Hilb Group, LLC (THG) announced today the acquisition of Massachusetts-based H.J. Knight International Insurance Agency, Inc. (“HJK”). The transaction became effective December 1, 2018.

HJK is a leading full-service brokerage in the commercial insurance and risk management industry. Founded in 1987, the company specializes in alternative risk management solutions for commercial clients throughout the United States. Managing Director, Matt Lanza, and his team will continue to operate out of HJK’s Braintree, MA location.

“In the past few years, HJK has developed a reputation as one of the fastest growing insurance and risk management advisory firms in Massachusetts,” said Ricky Spiro,

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Sun Corp in talks to sell stake in Israel’s Cellebrite: report


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JERUSALEM (Reuters) – Japan’s Sun Corp (6736.T) is looking to sell up to 50 percent of Israeli digital intelligence provider Cellebrite at a valuation of $400 million, a leading Israeli financial newspaper said on Wednesday.

Cellebrite, fully owned by Sun Corp, specializes in forensics and extraction of data from mobile devices.

The Calcalist newspaper said Sun Corp is in talks with a number of potential buyers, including Australia’s Macquarie Group (MQG.AX) and U.S. private equity firm KKR (KKR.N).

Officials at Cellebrite, Sun Corp, Macquarie and KKR were not immediately available for comment.

 

H.I.G. closes sale of CPower to LS Power


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H.I.G. Capital said Dec. 21 that it closed the sale of Enerwise Global Technologies Inc, which does business as CPower, to LS Power. Financial terms weren’t announced. C-Power, of Baltimore, Maryland, is a demand-side energy management solutions provider.

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 the closing of the sale of Enerwise Global Technologies, Inc. d/b/a CPower (“CPower” or the “Company”) to LS Power.

H.I.G. formed CPower as an independent company in October 2014 through the spin-off of CPower from Comverge, a leading provider of energy management products and services to utilities, and simultaneous merger with the demand response business of Constellation. H.I.G. originally invested in Comverge in May 2012 and completed the sale of Comverge to Itron in

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Battery-backed Qognify to buy On-Net Surveillance Systems, SeeTec GmbH


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Qognify, a portfolio company of Battery Ventures, said Dec. 22 that it agreed to buy On-Net Surveillance Systems Inc and SeeTec GmbH. Financial terms weren’t announced. OnSSI, of Pearl River, New York, and SeeTec, of Germany, provide IP video management software.

PRESS RELEASE

PEARL RIVER, N.Y., Dec. 22, 2018 /PRNewswire/ — Qognify – the trusted advisor and technology solution provider for Physical Security and Enterprise Incident Management – today announced that it has signed a definitive agreement to acquire On-Net Surveillance Systems, Inc. (OnSSI) and the OnSSI company – SeeTec GmbH. In bringing these award-winning technology solution portfolios together under one roof – including Qognify VisionHub, OnSSI Ocularis and SeeTec Cayuga – Qognify becomes one of the largest VMS, Video Analytics, PSIM and critical incident management companies in the world. Qognify is backed by global investment firm Battery Ventures.
Also located in Pearl River, New York,

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Gladstone-backed DPMS buys K-Fab Inc


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DPMS, a portfolio company of Gladstone Investment Corp, has acquired K-Fab Inc. Financial terms weren’t announced. K-Fab operates a 22,000-square-foot precision machine shop making parts for a variety of end markets including military, semiconductor, and aerospace industries. Generational Equity advised K-Fab.

PRESS RELEASE

DALLAS, Dec. 24, 2018 /PRNewswire/ — Generational Equity, a leading mergers and acquisitions advisor for privately held businesses, is pleased to announce the sale of its client, K-Fab Inc., to DPMS. The acquisition closed November 29, 2018.

Founded in 1980, K-Fab operates a 22,000-square-foot precision machine shop making parts for a variety of end markets including military, semiconductor, and aerospace industries. The company is certified to ISO 9001:2015 and has a committed focus to high quality and on-time delivery. Services provided include finishing and coating, welding and bonding, honing, grinding, lapping, heat treating, chemical cleaning, and NDT and destructive testing.

For over 30 years DPMS has

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