Shareholders of HFF, one of the largest and most successful commercial real estate capital markets intermediaries in the US, approved the $2bn acquisition offer made by Jones Lang LaSalle in March 2019. Under the terms of the agreement, HFF shareholders will receive $24.63 in cash and 0.1505 JLL shares for each HFF share. The price represents a premium of approximately 6% over the closing stock price on March 18, 2019.
Morgan Stanley and Dechert advised HFF. JP Morgan, Brunswick Group and Sidley Austin advised JLL.
Alight Solutions, a leader in technology-enabled health, wealth and human capital management and financial solutions, agreed to acquire Hodges-Mace, a leading provider of employee benefits technology, voluntary benefits and custom enrollment services. Financial terms were not disclosed.
"Alight has been deliberate about creating an integrated health experience that enables employees to access health coverage, navigate complexity and focus on their wellbeing, while also improving overall affordability," said Chris Michalak, CEO, Alight Solutions. "Through our Compass Healthcare Navigation solutions, Smart-Choice reimbursement accounts and the latest addition of Hodges-Mace, we will be able to bring Alight's industry-leading capabilities to an even broader set of employers to help their people make better healthcare decisions to get the most out of their benefits."
William Blair and Shearman & Sterling are advising Hodges-Mace. Kirkland & Ellis is advising Alight.
Carlyle and Level Equity-backed Net Health, the leading provider of cloud-based software solutions for specialized outpatient care, acquired Optima Healthcare Solutions, the premier provider of cloud-based electronic medical record software. Financial terms were not disclosed.
Anthony Sanzo, Net Health Chairman and CEO, stated, "We are extremely excited about what this acquisition will bring to healthcare providers across our customer base. Both companies have a legacy of designing purpose-built, innovative solutions that have delighted providers for over two decades. Our combined products, expertise, talent, and resources will accelerate our ability to deliver the fully-connected data and predictive capabilities healthcare providers need to thrive in a value-based world."
Houlihan Lokey and Wilson Sonsini Goodrich & Rosati advised Optima. Alvarez & Marsal, Latham & Watkins and PwC advised Net Health.
Bentall Kennedy, a Sun Life Investment Management company, and GreenOak Real Estate, a leading global real estate investment management firm, merged into BentallGreenOak. The deal was first announced in December 2018.
“This combination brings together two successful real estate platforms to create a world class investment manager, supported by the significant resources and long-term stability of Sun Life Investment Management. GreenOak and Bentall Kennedy are two highly complementary firms with virtually no overlap in investment strategies or offices,” said Gary Whitelaw, CEO, Bentall Kennedy. “As members of the combined leadership team have worked together before, and given our extensive discussions over many months, we believe we share very similar investment practices, underwriting discipline, and client-centric cultures."
Evercore, Covington & Burling and Fried Frank advised GreenOak. Berkshire Advisors and Weil Gotshal and Manges advised Bentall Kennedy. Prosek Partners advised Sun Life.
Holding company of United Business Bank agreed to acquire and merge with First State Bank of Colorado, which provides personal and business products and services, for $39m. Upon consummation of the merger, each First State Bank of Colorado shareholder will receive $6.34 in cash and 0.27543 of a share of BayCom, the holding company of UBB, common stock in exchange for each share.
George Guarini, President and CEO of BayCom, stated, “We are very excited to have the opportunity to enter the Colorado market setting the stage for taking advantage of additional partner opportunities available in the state. We look forward to serving First State Bank of Colorado’s clients and welcoming the shareholders of TIG.”
GLC Advisors, Vining Sparks IBG and Baird Holm are advising First State Bank of Colorado. Janney Montgomery Scott and Silver Freedman Taff & Tiernan are advising UBB.
Aterian Investment Partners, a private investment firm, completed the $80m acquisition of Hain Pure Protein, a poultry products provider, from The Hain Celestial Group, a leading organic and natural products company.
“We are excited to add Empire Kosher and FreeBird to the Aterian portfolio and are excited for the opportunity to collaborate with management as the Company enters its next chapter. We intend to facilitate management’s efforts to invest in key growth initiatives such as developing new products, expanding into new geographies and building out enhanced production capabilities. Through these investments we will support the Company’s well-earned reputation for outstanding, high-quality products and leading customer service, further positioning the business for robust growth.” Brandon Bethea, Aterian Co-Founder and Partner.
PwC and Weil Gotshal and Manges advised Aterian. Centerview Partners and DLA Piper advised Hain Celestial.
Medin Technologies, a medical contract manufacturer, completed its acquisition of Advantage Manufacturing Technologies, a manufacturer of orthopedic implants. Financial terms were not disclosed.
"We are excited to have completed this important add-on acquisition. Medin's strategic goal is to provide world-class quality and performance across multiple product and component lines as a full-service manufacturing partner to our orthopedic OEM customers. Together, with AMT Medical, we can execute that strategy on a more comprehensive scale. Just as we have done with Medin Technologies, we plan to invest aggressively in AMT Medical, and over time, integrate the two companies' operations more thoroughly to deliver value to our customers." Bill Donaldson, Medin Technologies' CEO.
Medin Technologies was advised by Friendlander, Coplan & Aronoff. AMT was advised by The Tracy Law Group and Kinsella Group.
Gryphon Technologies, a premier defense engineering and technical services provider supporting national security programs, closed its acquisition of PGFM Solutions, a cybersecurity provider. Financial terms were not disclosed.
“With the addition of PGFM, Gryphon strengthens its position as a leader in engineering for national security and defense systems with a mature capability to develop innovative cybersecurity solutions focused on shipboard machinery control systems,” P.J. Braden, Gryphon CEO.
PFGM Solutions was advised by Haefele Flanagan & Co and Lauletta Birnmaum. Gryphon Technologies was advised by Berkeley Research Group and Akerman.
HEXPOL, a polymers producer, agreed to acquire Preferred Compounding, a rubber compounder, for $232m from Audax Group, a US-based private equity firm. Financial terms were not disclosed.
“This transaction immediately leverages our global supply chain and adds new capabilities, application knowhow and additional customer base to HEXPOL Compounding Americas as well as broadens and strengthens our presence”. Tracy Garrison, HEXPOL Compounding Americas President.
SARORAS Private Capital, a private equity firm, agreed to invest in
Ninth Wave, the leading enabler of secure data connectivity between financial institutions and third-party applications including aggregators, fintechs, accounting solutions, tax prep software and other consumer and business solutions. Financial terms were not disclosed.
“We have been continually focused on advancing our technology, team and strategic partnerships with companies and individuals that help us provide the highest level of services and counsel. SARORAS is the perfect partner for us and pairs an expertise in our industry with the experience and proven playbook to scale our business.” George Anderson, Ninth Wave Founder and CEO.
Axel Springer's StepStone, one of the leading online job portals in Europe, acquired 85% of AppCast, the leading technology provider for programmatic job advertising in the US, for $79m. With the acquisition, Axel Springer continues its growth strategy and further expands the StepStone group’s portfolio of intelligent recruiting and matching tools.
Chris Forman, CEO Appcast: "Axel Springer and StepStone share our conviction that technology can advance recruiting with job ads. We also share a common purpose to improving one of the most important personal and social issues for people around the globe: finding a rewarding job that allows them to support their families and communities. We are extremely happy and excited to take the next steps in our extraordinary growth story together with these strong partners and friends.”
Clearlake Capital-backed FloWorks, a leading specialty industrial distributor of pipe, valves, and fittings, sold its MultAlloy division to Texas Pipe & Supply, a pipe supplier in Houston, Texas. Financial terms were not disclosed.
"We are pleased to have found a great home for MultAlloy and J&J with Texas Pipe," said Scott Jackson, President and CEO of FloWorks. "This divestiture allows FloWorks to dedicate additional resources to Sunbelt Supply, which has experienced impressive growth as we have executed on our expansion strategy. Our team of flow solutions experts is focused on directly delivering specialty PFF, valves, and automation solutions through our well positioned global footprint of stocking locations. We are excited to answer the growing demand from our key customers, including supporting newly awarded MRO contracts, and we look forward to further investing in our customers and the Sunbelt Supply platform to satisfy their ongoing needs."
Houlihan Lokey is advising FloWorks.
Investment companies Nord Bay Capital and TriArtisan Capital Advisors acquired Hooters of America, a restaurant chain company, from HIG Capital and Chanticleer. Financial terms of the deal were not disclosed. As part of the transaction, the selling entities will each retain a stake in the company.
William Pepper, Principal, Nord Bay Capital, stated: "Hooters is an iconic global brand that has shown strong financial growth and development. With nine consecutive quarters of same store sales growth and thirteen consecutive quarters outperforming the casual dining bar & grill category, we see Hooters as a real jewel in the restaurant category. We’re excited to work with Terry, his senior leadership team, along with the Hooters global franchise community and employees to drive continued success in the years to come.”
Piper Jaffray is advising Hooters of America.
Dollarama, a Canadian dollar store retail chain headquartered in Montreal, agreed to acquire 50.1% interest in Dollarcity, a Latin American value retailer, for approximately $90m.
"We are very excited to bring our relationship with Dollarama to the next level, and together strive to achieve Dollarcity's long-term growth objectives. We have leveraged Dollarama's expertise to establish a successful value retail model in El Salvador, Guatemala and Colombia, and we look forward to continuing to grow our store network in these countries in the years ahead," said Marco Baldocchi, Chief Executive Officer of Dollarcity.
Partners Group, the global private markets investment manager, agreed to invest in Blue River PetCare, a US-based operator of veterinary hospitals for companion animals. Financial terms were not disclosed.
"Since its inception, Blue River has operated as a founder-run business, aiming to preserve the legacy that our veterinarians have worked so hard to establish in their communities, and we are extremely proud of the unique culture we have built and of the great care that our hospitals provide to our patients and customers. We are very excited to be welcoming Partners Group as a value-added partner to our business and look forward to building on our reputation as an employer of choice for leading veterinarians across the US." Dan Blumenthal, Blue River CEO.
ASRC Industrial Services, a premier provider of industrial and environmental services throughout the continental United States, acquired Environmental Quality Management, a full service environmental remediation company. Financial terms were not disclosed.
“We are extremely excited about the opportunities joining AIS brings to both our employees and our customers,” said Jack Greber, Founder of EQM. “After getting to know the AIS team and learning about ASRC’s commitment to the industrial services market, I knew AIS was the right long-term home for Environmental Quality Management.”
ScanSource, a publicly held American technology company headquartered in Greenville, acquired intY and its award-winning CASCADE cloud services distribution platform. As an additional element of the company’s cloud and digital strategy, intY’s CASCADE solution provides ScanSource partners with another route to market to enable key strategic cloud services, including Microsoft, Symantec, and Acronis. Financial terms were not disclosed.
“CASCADE serves as the next piece in our continuing digital strategy and provides partners with critical capabilities, including software provisioning, data analytics, seat management, billing and support, so partners can sell more strategic cloud solutions and build strong recurring revenue practices,” said Mike Baur, Chairman and CEO of ScanSource.
NCR Corporation, a technology leader for the financial industry, acquired D3 Technologies, a leading provider of online and mobile banking. Financial terms were not disclosed.
“D3 has a well-earned reputation for innovation and product excellence and delivers one of the most advanced digital platforms for large banks,” said Michael D. Hayford, president and chief executive officer, NCR Corporation. “NCR’s Digital First Banking solutions help financial institutions connect with consumers whenever, wherever, and this acquisition helps NCR provide banks of all sizes with an exceptional digital experience.”
ENGIE, a French multinational electric utility company, acquired Conti Corporation, a construction and energy services company operating in the United States and Canada. Financial terms were not disclosed.
“We are pleased to welcome our 2,000 new colleagues from Conti. They will bring great wealth to our portfolio of activities and skills. Together, we will be able to extend our range of services while expanding and strengthening our geographic presence in North America, ” said Franck Bruel, Executive Vice President of ENGIE, who supervises the North America, United Kingdom and Latin America Business Units. “We are also looking forward to welcoming clients of Conti, Ion, McGilvray and Indicon to our client base in North America, where we are working on more than 55,000 projects. With them, we will continue to develop our potential and devise comprehensive and innovative solutions to lead the zero-carbon transition.”
Yo! Sushi, the UK-based sushi group, agreed to acquire a majority stake in Snowfox, a US sushi business. The combined group, which will have an enterprise value of around $400m and combined annual sales of $425m, will be one the largest sushi companies outside of Japan, according to Yo! Sushi.
“Building on from the successful integration of Bento Sushi starting in 2017, Yo! will look to replicate this approach with Snowfox as it continues to execute its diversification strategy,” said Richard Hodgson, chief executive of Yo! Sushi.
Eden Capital, a private equity firm. agreed to acquire MITS, an analytic platform with business intelligence for a broad base of customers within the manufacturing and distribution space. Financial terms were not disclosed.
"MITS has always believed business results are the key measure of analytics success and becoming a part of this growing and evolving software suite will exponentially expand our abilities to deliver significant bottom-line value to our customers. We've seen tremendous success in the distribution and manufacturing industry, and we're excited to continue our journey with Compass Sales Solutions and Tour de Force to deliver even more value to all of our customers." Gary Owen, MITS CEO.
Coty to write down $3bn in assets as part of restructuring plan.
According to a
Reuters report, Coty, an American multinational beauty company, is to write down about $3bn in value of brands acquired from Procter & Gamble Co, as the struggling cosmetics maker laid out a four-year restructuring plan, sending its shares down as much as 19%. Coty splurged more than $12bn to buy P&G’s perfume, hair care and make-up businesses, including CoverGirl, Max Factor and Clairol, in 2016 to scale up its beauty business, but has since struggled due to supply chain disruptions in Europe and the United States and competition from nimbler rivals.
“If we are able to stabilize our share in this moderately declining category, this will allow Coty to return back to growth,” Coty Chief Executive Officer Pierre Laubies said on a call with analysts.
Qatar Investment Authority and Douglass Emmett acquired a California real estate complex for $365m. (FS)
Qatar Investment Authority, Qatar's state-owned holding company, and real estate investment trust Douglas Emmett acquired a $365m real estate development in California. The Glendon is a residential community in Westwood, California with 350 apartments and approximately 50,000 square feet of retail.
“This underlines QIA’s ambition to substantially increase our US investments, and our confidence in the long-term possibilities offered by Los Angeles, and the State of California,” QIA Chief Executive Officer Mansoor Al-Mahmoud said.
Leonardo and Thales consider making a joint bid for Maxar's MDA space division.
Italian aerospace and defense firm Leonardo and France’s Thales, a multinational company that designs and builds electrical systems and provides services for the aerospace, defence, transportation and security markets, are considering the joint acquisition of a space business from US firm Maxar Technologies. The business is valued at approximately $1bn.
“We are considering that with our partner Thales,” Leonardo CEO Alessandro Profumo said. “For us, they (MDA) have a very good technology in the antennas for satellites, so it is an option we are considering.”
Carnelian Energy Capital closed its third fund at $775m. (FS)
Carnelian Energy Capital Management, an energy investment firm based in Houston, announced the single closing of its oversubscribed third fund, Carnelian Energy Capital III, at the fund’s hard cap, which, with the inclusion of the general partner’s commitment, totals $775m of capital commitments.
“Our success is driven by the management teams that we partner with, whose entrepreneurial spirit, technical acumen and commercial savvy create formidable competitive advantages in their areas of focus,” said Daniel Goodman, Carnelian Partner. “We are excited about the opportunity set ahead of us, and we look forward to continuing to find ways to be value-additive partners to our teams.”
EMEA
Fidelity National Information Services, a global leader in financial services technology, is set to win unconditional EU antitrust approval for its $35bn acquisition of Worldpay, a global leader in eCommerce and payments. Under the terms of the agreement, Worldpay shareholders will be entitled to receive 0.9287 FIS shares and $11.00 in cash for each share of Worldpay. The deal was announced in March 2019.
The European Commission is scheduled to decide on the deal by July 5.
Credit Suisse and Skadden Arps Slate Meagher & Flom are advising Worldpay. Alston & Bird is advising Credit Suisse. Centerview Partners, Goldman Sachs and Willkie Farr & Gallagher are advising FIS. Fenwick & West and Fried Frank are advising FIS’ financial advisors.
Careem, a transportation network company based in Dubai, ended its operations in Sudan as part of its planned $3.1bn takeover by Uber less than a year after the Middle Eastern ride-hailing firm launched in the country. The deal was announced in March 2019.
“There are no plans to close any other markets and ceasing Sudan operations will not have any effect on Careem’s other markets,” a Careem spokesman said.
Jefferies & Company and Wilson Sonsini are advising Careem. Morrison & Foerster is advising Uber. Hogan Lovells and Freshfields are advising the sellers.
The joint venture deal between GlaxoSmithKline and Pfizer received conditional approval from a South African regulator on Tuesday. South Africa’s Competition Commission said although the deal was not likely to reduce competition, it would impact local manufacturers of pharmaceuticals for Pfizer. To address those concerns, the regulator suggested the merging parties continue using Spechpharm Holdings, a South African firm that provides manufacturing and packaging services, for three years.
Pfizer is advised by Centerview Partners, Guggenheim Partners, Morgan Stanley, Clifford Chance, Dentons, Norton Rose Fulbright, Paul Weiss Rifkind Wharton & Garrison, Skadden Arps Slate Meagher & Flom, Wachtel Lipton Rosen & Katz and White & Case. GlaxoSmithKline is advised by Citigroup, JP Morgan, Greenhill & Co, Blake Cassels & Graydon, Davies Ward, Kirkland & Ellis, Slaughter & May and Brunswick Group. Herbert Smith Freehills is advising debt providers.
Axcel, a Nordic private equity firm, agreed to acquire SteelSeries, the leading global gaming platform, from L Catterton. Financial terms were not disclosed.
“In L Catterton, we found a partner who recognized the enormous potential of our brand at a time when video gaming had not yet hit the mainstream. Our partnership has enabled us to relentlessly innovate and expand upon our leading suite of products while investing in the development of our SteelSeries Engine software platform. We look forward to building on this momentum to capitalize on continued category opportunities and provide essential, high quality products to more gamers across the world.” Jacob Wolff-Petersen, SteelSeries Founder.
Moelis & Co and Plesner are advising SteelSeries.
Cembra Money Bank, one of the leading Swiss providers of financial services, agreed to acquire 100% of the shares in Cashgate, which provides private credit and leasing services, from Aduno Holding for CHF277m ($283m). Through its acquisition of Cashgate, Cembra Money Bank will also be taking on the employees of Cashgate and fully repay the existing borrowing of the Cashgate business.
“With the acquisition of cashgate we continue to implement our growth strategy. Thanks to this acquisition we are further expanding our market position in the Swiss consumer finance space and growing as an independent provider of auto leases and loans. We also look forward to continue digitising our core business together with the experienced team at Cashgate.” Robert Oudmayer, Cembra Money Bank Chief Executive Officer.
Walder Wyss is advising Aduno.
BC Partners, a leading international private equity firm, agreed to acquire a majority stake in Synthon International Holding, a global market leader in the development of complex Generics, from Synthon Holding, a leading international science-centred pharmaceutical company focused on the provision of affordable, high-quality small-molecule generics and hybrids. Financial terms were not disclosed.
BC Partners, in partnership with the founder, intends to build on this strong performance by investing in the expansion of Synthon’s product portfolio as well as its product pipeline and entering into new markets, which will allow Synthon to leverage its proven track record of commercialising complex pharmaceutical technologies.
“We are privileged to be partnering with Jacques and backing a company with as high-quality a management team and operations as Synthon. The company has an exciting future ahead of it and we look forward to supporting Synthon as it continues to prosper.” Mark Hersee, BC Partners Partner.
Rothschild & Co, PwC, Latham & Watkins and NautaDutilh are advising BC Partners. EY and De Brauw Blackstone Westbroek are advising Synthon.
US cybersecurity startup Exabeam acquired Israeli cloud security firm SkyFormation. Financial terms were not disclosed.
As Exabeam’s first acquisition and following its recent $75m funding round, the investment will enable Exabeam to establish an office in Israel, provide access to talent and help more customers move their businesses and their security to the cloud, the company said.
Broviken Gruppen, an investment company, acquired a stake in Forsen, one of the Nordic region's leading independent suppliers of qualified project and construction management services. Financial terms were not disclosed.
"Broviken gives us the right conditions, resources and the strategic competence we need to ensure continued strong development and expansion of Forsen. We are pleased to welcome Broviken as a long-term and committed partner,” says Bengt Johansson, CEO of Forsen. "They also share our view of values and corporate culture, which is an important part of building a successful company."
MCF advised Forsen.
Bridges Fund Management, a fund manager has acquired GEV Wind Power, one of the world’s leading wind turbine repair and maintenance providers, from Maven Capital Partners, a private equity firm. Financial terms were not disclosed.
“Over the last few years, GEV has established itself as a global market leader in wind turbine blade repair and maintenance. We are now excited to be partnering with Bridges as we embark on our next growth phase. It was very clear when we met the Bridges team that we had very similar values and a very similar vision for what GEV could achieve. We look forward to working with Bridges to scale the business and optimise our impact.” David Fletcher, GEV CEO.
1825, Standard Life’s wholly owned financial planning and advice business, agreed to acquire Grant Thornton’s wealth advisory business. Financial terms were not disclosed.
Julie Scott, CEO, 1825, said: “Today’s announcement significantly accelerates 1825’s growth plans and gives us a broader UK-wide presence. Demand for high quality financial planning and advice continues to grow and with over 110 financial planners we will be well-placed to help more people access advice.”
Contentsquare, a leading digital experience insights platform, agreed to acquire Clicktale, an Israel-based experience analytics company. Financial terms were not disclosed.
"The combination of Clicktale and Contentsquare heralds an unprecedented goldmine of digital data that enables companies to interpret and predict the impact of any digital element -- including user experience, content, price, reviews and product -- on visitor behavior. Increasingly, this unique data can be used to activate custom digital experiences in the moment via an ecosystem of over 50 martech partners. With a global community of customers and partners, we are accelerating the interpretation of human behavior online and shaping a future of addictive customer experiences." Jonathan Cherki, Contentsquare Founder and CEO.
Fosun International, one of the world's leading family-focused multinational companies, has agreed to acquire a majority interest in TENAX CAPITAL, a boutique asset management company. Financial terms were not disclosed.
This acquisition is part of Fosun's strategy to grow its global asset management business under its Wealth Ecosystem. Upon completion, TENAX will become one of Fosun's most important European asset management platforms, providing European and global investors new and innovative investment solutions and access to China's fast-growing financial markets.
"We welcome the experienced and talented TENAX team joining Fosun today. The capable investment team, regulated business licenses and distribution channel of TENAX complement Fosun's global asset management business. We believe, along with our other asset management companies, TENAX will provide even better investment solutions to Fosun's insurance subsidiaries, portfolio companies, business partners and third-party investors." Jun Li, Fosun Asset Management CEO.
Horizon, an investment company, has agreed to invest £20m ($25m) in Juniper Education, an education software and services provider.
Juniper’s strategy is to consolidate the large and fragmented market for software and services provision to primary and secondary schools in the UK. The business has two divisions: one focused on software provision and the other on services including HR, finance and professional development.
“This is an exciting time in UK education with a clear opportunity to consolidate software and services to reduce workloads and simply let teachers teach. The Horizon team’s track record in scaling software and service businesses and supporting buy-and-builds aligns well with our strategy for Juniper.” Gavin Freed, Juniper Executive Chairman.
RSK, the UK’s leading integrated environmental, engineering and technical services consultancy, has agreed to acquire RAW Technology, a leading specialist in inland oil spill response and remediation, operates worldwide from 16 offices in the UK and Ireland. Financial terms were not disclosed.
“RSK Raw shares many of RSK’s core values, and its service provision complements ours. Like RSK, it is a people-orientated business that focuses on building strong client relationships. Our shared ethos will stand us in good stead. I am looking forward to working with our new colleagues.” Alan Ryder RSK’s founder and chief executive officer.
EPAM Systems, a leading global provider of digital platform engineering and software development services, agreed to acquire Competentum, a full-stack educational content services company, and its learning platform, ShareKnowledge. Financial terms were not disclosed.
“We are excited to join EPAM in the effort to create a full-scale digital learning blueprint,” said Natalia Soboleva, CEO, Competentum. “Our years of experience in developing immersive content and leading adaptive learning solutions for STEM, Healthcare and GRC domains can really accelerate time to value for clients and help them transform their learning platforms and experiences for their users.”
Nordson Corporation, a biomaterials provider, agreed to acquire Optical Control, a designer and developer of high speed, fully automatic counting systems utilizing x-ray technology. Financial terms were not disclosed.
"Optical Control enhances Nordson's Test and Inspection capabilities adding to our Best in Class X-ray product line-up within the electronics industry. We are excited to welcome the Optical Control associates to the Nordson family. We look forward to integrating their technical expertise and further diversifying the Test and Inspection solutions we can offer our customers." Joseph Stockunas, Nordson Executive Vice President.
Bydand Sports, a new company set up for the acquisition by US businessman Ronald Gordon, agreed to acquire Hibernians FC, a football club, from HFC Holdings owned by Sir Tom Farmer and Rod Petrie. Financial terms were not disclosed.
“There are many similarities and those values are evident in Hibernian not only as an outstanding football club but also its engagement with young people and through the Hibernian Community Foundation. That it is such a well-run Club was one of the major attractions for me." Ronan Gordon, Bydand Sports Founder.
Private equity firm Equistone Partners offered to acquire Sateco, a specialist in the manufacturing and distribution of metal formwork equipment for concrete forming and safety platforms on construction sites, from Naxicap Partners. Financial terms were not disclosed.
Arnaud Thomas and Thierry Lardinois, Partners at Equistone, say: "We were impressed by the commitment and work ethic of Sateco's management team, which have helped the company to maintain its leading position in the safety platforms market and to establish its competitive position in the metal formworks market. Thanks to a policy of constant innovation and high-quality service, in recent years Sateco has risen from second to first place in the sector in France."
KKR considers buying Eneco. (FS)
Global buyout firm KKR is considering conducting due diligence on Eneco, one of the largest producers and suppliers of natural gas, electricity and heat in the Netherlands. The company will compete against Macquarie, Mitsubishi, PGGM and Shell in the bidding process. Enel and Total also expressed their interest in buying Eneco but withdrew their bids.
L'Oreal in talks to acquire Mugler and Azzaro from Clarins.
Reuters reported that L’Oreal, a French personal care company headquartered in Clichy, is in talks to buy the Mugler and Azzaro brands from Clarins Group, a French luxury skin care, cosmetics and perfume company, which manufactures and sells products, usually through high-end department store counters and selected pharmacies.
“The perfume category is at the heart of our global strategy for growth ... we would be thrilled to welcome Mugler and Azzaro,” Cyril Chapuy, president of L’Oreal Luxe, said. “These signatures, with a long history in fashion and olfaction, would perfectly complete our portfolio of brands.”
Banks readying €2.5bn loan in TIM-Vodafone Italy tower deal.
A group of banks is set to lend Telecom Italia unit INWIT up to €2.5bn ($2.8bn) to help it merge its towers with those of Vodafone, a British multinational telecommunications conglomerate. Telecom Italia, which controls 60% of INWIT, agreed with Vodafone in February to study the idea of combining their 22k telecom masts in Italy in a single unit.
SoftBank's Fortress ponders buying Majestic Wine's retail unit. (FS)
SoftBank's Fortress Investment Group, an investment management firm based in New York City, is close to buying Majestic Wine's retail unit. Rival bidders and Fortress had approached former Berry Bros & Rudd and Tesco executive Dan Jago about running Majestic after any sale completes. Fortress has been vying with Elliott Advisors and OpCapita to buy Majestic.
Lonza acquired a drug bottling plant from Novartis.
Lonza, a Swiss multinational, chemicals and biotechnology company, acquired a drug bottling plant from Novartis, a Swiss multinational pharmaceutical company based in Basel. Novartis is selling the so-called “fill and finish” facility because its production lines had been underutilized.
In buying Novartis’s 10-year-old plant in Stein, Lonza will be able to speed up work for customers seeking to take their injectible medicines quickly into the clinic and onto the market, in particular for smaller lots of medicines aimed at niche populations, a Lonza spokeswoman said.
Ancala acquired a 50% interest in Dragon LNG from Petronas. (FS)
Ancala Partners, an independent infrastructure investment manager, acquired a 50% interest in Dragon LNG, a liquefied natural gas regasification terminal located at Milford Haven, Wales. Transaction terms have not been disclosed.
Lee Mellor, Partner, Ancala, says: “Dragon LNG is well placed to benefit from reducing UK gas storage capacity and maturing North Sea gas production. With revenues underpinned by a long-term availability-based throughput agreement with Shell and Petronas, the transaction represents an attractive addition to our portfolio and expands our midstream infrastructure activities. We look forward to working with Dragon LNG’s excellent team in continuing to grow and optimise performance of the terminal.”
Italian court set to approve Roberto Cavalli sale to Damac.
A court is set to approve the sale of Roberto Cavalli, an Italian fashion group, to Damac, a Dubai-based developer. Earlier this month Cavalli’s board had indicated Damac as the favorite bidder.
Two other binding offers for the whole group had been submitted by Italy’s Diesel-owner OTB and US brand management company Bluestar Alliance,
Reuters reported.
Channel 13 and billionaire Leonid Nevzlin interested in acquiring Walla!.
Hot Telecommunications Systems, a telecommunication company, is showing interest in acquiring the Walla! website. Walla!'s value is estimated at NIS60m ($17m).
The Bezeq group's sale of Walla! is currently being handled by its chairperson, Shlomo Rodav. Among the parties previously mentioned as interested in the acquisition are Channel 13 and billionaire Leonid Nevzlin, who has holdings in the "Haaretz" group.
Orkla sold its Glyngøre brand to Amanda Seafoods.
Orkla, a Norwegian conglomerate operating in the Nordic region, Eastern Europe, Asia and the US, sold its Glyngøre fish brand to Amanda Seafoods. The group seeks to reduce "complexity" in its portfolio. Financial terms were not disclosed.
Jesper Sørensen, the chief executive of Amanda Seafoods, said: "We look forward to including the well-established Danish brand Glyngøre in our portfolio. Glyngøre holds a strong position with Danish consumers, and we see good opportunities for further building the brand through innovation and product development."
Aberdeen Standard Investment bought solar parks in Poland. (FS)
E Energy Group, together with its partner Sun Investment Group, completed the construction of 42 MW solar parks in Poland and signed an agreement on their sale to one of Europe's largest investment managers, Aberdeen Standard Investment. Part of the funds received will be directed to the construction of a large wind farm in Lithuania.
