Colfax acquired DJO Global from Blackstone for $3.15bn.
Colfax Corporation, a leading diversified technology company, acquired DJO Global, a global leader in orthopedic solutions, providing orthopedic devices, software and services spanning the full continuum of patient care, from injury prevention to rehabilitation. Blackstone Group is the seller.
Colfax expects to finance the transaction with approximately $100m of cash from its balance sheet, proceeds from credit facilities and a contemplated debt offering, and $500 to $700m from a contemplated offering of equity or equity-linked securities.
“The acquisition of DJO is a compelling next step in the strategic evolution of Colfax that creates a new growth platform in the high-margin orthopedic solutions market,” said Matt Trerotola, President and Chief Executive Officer of Colfax.
Credit Suisse, Goldman Sachs, Wells Fargo Securities and Simpson Thacher & Bartlett advised DJO Global. JP Morgan and Kirkland & Ellis advised Colfax. JP Morgan and Credit Suisse provided financing.
Black Knight invested $375m in Dun & Bradstreet, a provider of commercial data, analytics and insights for businesses. The Black Knight investment will represent an economic ownership interest of less than 20%.
“Dun & Bradstreet is a well-established market leader that will benefit greatly from this investment group’s proven track record of harnessing companies’ potential and generating long-term growth,” said William Foley, Chairman of Black Knight.
In addition to the investment, Black Knight will join an investment consortium led by CC Capital, Cannae Holdings and Thomas H. Lee Partners L.P. to acquire Dun & Bradstreet. The deal is expected to close no later than the first quarter of 2019.
The Gemini Companies and Ultimus Fund Solutions are mutual fund companies. No financial terms were disclosed. The newly combined company will operate as Ultimus Fund Solutions and be a provider of full-service fund administration, accounting and investor solutions to traditional and alternative fund managers.
Collin Roche, Managing Director at GTCR, said: "We believe each company brings expertise and competencies that are distinctive in the market and are highly complementary to one another. Together, they represent a leading fund administrator, with significant technological capabilities and a strong client service offering. Our plans going forward are to continue to invest heavily in technology and further expand product offerings and solutions for current and future clients."
Broadhaven Capital Partners advised GTCR, while Raymond James & Associates advised Gemini.
Bobit Business Media is a leading B2B media company. Financial terms were not disclosed.
Aron Grossman, Principal at Gemspring, added: “Bobit has established a leading position in the fleet, transportation, beauty, and law enforcement B2B media markets driven by differentiated content, products and customer relationships. We look forward to partnering with Richard and the entire Bobit team to build upon this foundation in the next stage of the Company’s growth.”
Blackstone and Stonepeak express interest in acquiring Zayo Group.
Zayo Group LLC provides bandwidth infrastructure solutions in the United States, Canada, and Europe. The company is currently worth about $11bn, including debt. Other than Blackstone and Stonepeak, funds managed by KKR, I Squared Capital, GTCR and Charlesbank Capital Partners are also rumoured to be interested in taking the company private.
Shares of Zayo rose as much as 20% in response to the news.
QEP sold Haynesville-Cotton Valley assets to Aethon for $735m.
QEP Resources, a leading independent crude oil and natural gas exploration and production company, sold its Haynesville-Cotton Valley oil & gas assets located in Louisiana, to Aethon Energy, a Dallas, Texas-based private investment firm. The assets cover about 49,700 net acres including 137 gross operated producing wells in Northwest Louisiana.
“The sale of our Haynesville/Cotton Valley business is an important next step in our process of becoming a Permian pure-play company,” Chuck Stanley, QEP chairman, president and CEO, said in a statement.
