One Equity Partners, a private equity firm, agreed to acquire the Associated Spring and Hanggi businesses of Barnes Group, a global provider of highly engineered products, differentiated industrial technologies, and innovative solutions, for $175m.
"Over the past year, we have been executing a comprehensive business transformation strategy based on three key pillars — Execute Core Business; Scale Aerospace; and Integrate, Consolidate & Rationalize Industrial — to generate improved growth, profitability, and cash flow at Barnes. Informed by a comprehensive strategic review of our business by independent advisors, we have continuously shared progress updates on our journey. Today's announced divestiture demonstrates a leap forward in rationalizing our Industrial business and rebalancing our portfolio toward our industry-leading Aerospace business," Thomas J. Hook, Barnes President and CEO.
Barnes Group is advised by Bank of America and Foley & Lardner.
Keystone Agency Partners, a rapidly growing insurance brokerage platform, completed the acquisition of LifeQuotes, a trailblazing life insurance price comparison service. Financial terms were not disclosed.
"Joining forces with Keystone Agency Partners opens up new avenues for growth and innovation. We are excited to contribute our expertise to KAP's dynamic ecosystem and continue our mission of providing accessible life insurance solutions to customers nationwide," Bob Bland, LifeQuotes CEO.
Morgan Stanley nears deal to pay less than $500m to resolve trading probe.
Morgan Stanley is nearing a deal to pay less than $500m to resolve a government probe into its handling of big stock sales,
Reuters reported.
The penalty will be part of a resolution in which prosecutors were not expected to pursue criminal charges against the bank. Some details were yet to be agreed by the parties.
Q4 says criticism of sale plan is ‘naive’ as investor vote nears.
Financial software provider Q4 is firing back at a major shareholder that’s been waging a campaign against its proposed sale to a private equity firm as the deadline nears for investors to make their decision,
Bloomberg reported.
Toronto-based Q4 agreed to a bid by Sumeru Equity Partners in November, but has run into opposition from Finsight Group, which says the CAD6.05 per share ($4.51) offer undervalues the company.
EuroGroup Laminations to expand production in Mexico.
Electric motor component maker EuroGroup Laminations would invest €50m ($55m) to expand its production capacity in Mexico to serve the automotive industry,
Reuters reported.
The Italian company has Volkswagen, Renault, Ford, GM and an undisclosed US-based major maker of electric vehicles among its clients. As part of the investment, it had built a new plant in the Mexican state of Queretaro, adding to the facilities it has already there.
Blackstone announces new Co-CIOs and Co-Head of Real Estate. (People)
The Blackstone Group announced that Ken Caplan, current Global Co-Head of Real Estate, and Lionel Assant, European Head of Private Equity, have been elevated to newly created roles as Global Co-Chief Investment Officers of Blackstone. They will enhance the coordination and oversight of the firm's already rigorous investment process.
Nadeem Meghji, Head of Real Estate Americas, will succeed Mr. Caplan as Global Co-Head of Real Estate alongside current Global Co-Head, Kathleen McCarthy.
CVC Capital Partners, a private equity firm, agreed to acquire La Piadineria, an Italian quick-service restaurant chain, from Permira, the global private equity firm. Financial terms were not disclosed.
"We are thrilled to support a strong business like La Piadineria, which has put product quality and customer satisfaction at the core of its value proposition," Alessandro Baccarin, CVC Director.
CVC Capital Partners is advised by Alvarez & Marsal, New Deal Advisors, Bain & Co, OC&C Strategy Consultants, Jefferies & Company, Lazard, PedersoliGattai and Facchini Rossi Michelutti. Permira is advised by Ernst & Young, Boston Consulting Group, Simon Kucher, Mediobanca, Rothschild & Co (led by
Irving Bellotti and
Edward Duckett), Legance and Maisto e Associati.
EW Group, a family-owned international group, with key businesses in genetics, health, diagnostics, nutrition and food, completed the acquisition of Planasa, a company with global presence in the agri-food sector, from Cinven, a private equity investment firm, and Label Investments, a specialized agribusiness investment group. Financial terms were not disclosed.
"Cinven has provided huge support to Planasa over the past five years. With Cinven's guidance and investment, we have professionalised our operations, expanded our international footprint and innovated our product range to become a global leader in our market. We would like to thank the Cinven team for their strategic perspective and financial backing, our employees for their dedication and commitment to our mission, and our clients, suppliers and other partners for their continued collaboration and trust placed in us. We look forward to working closely with our new owners and are sure that this partnership will enable us to push Planasa's breeding activities to an even higher level," Michael Brinkmann, Planasa CEO.
Nordic Capital-backed Trustly, a provider of global payment method, completed the acquisition of SlimPay, a provider of direct debit and card solutions for recurring payments, partnering with merchants at every step of the payment journey. Financial terms were not disclosed.
"Together with Trustly, we will bring a new, streamlined payment experience to the European recurring payments space, creating an unrivalled network of merchants and consumers across the entire repeat payment economy. We look forward to working with Trustly to build an innovative and comprehensive platform across Europe," Jerome Traisnel, SlimPay CEO.
SlimPay was advised by Royal Park Partners (led by
Abhimanyu Toor). Trustly was advised by JP Morgan and Brunswick Group.
CVC Capital Partners, a global investment firm, agreed to invest in Sunday Natural, a seller of premium vitamins, minerals and supplements. Financial terms were not disclosed.
"The partnership with CVC marks a significant milestone for Sunday Natural on its path to becoming a global brand for science-based and nature inspired nutrition. In CVC, we have found a strategic partner that shares and embraces wholeheartedly our cultural values and commitment to the True Clean Label philosophy. This partnership will help us scale our operations and accelerate growth into new geographies. I'm extremely proud of our team's dedication and grateful for our community's strong support," Jörg Schweikart, Sunday Natural Founder.
Sunday Natural is advised by Houlihan Lokey. CVC Capital Partners is advised by Rothschild & Co.
Thomson Reuters, a multinational media conglomerate that offers news in the areas of financial, legal, tax and accounting, risk management, and government, secured a majority stake in Paegro, an information technology solutions provider, and raised the offer for remaining shares to SEK8.1bn ($791m).
Thomson Reuters' majority ownership of Pagero will enhance the strategic partnership announced in February 2023, accelerating the companies' joint vision for a connected suite of global indirect tax, reporting and e-invoicing capabilities.
Thomson Reuters is advised by Morgan Stanley and Linklaters (led by
Charlotte Levin).
Bain Capital, a private investment firm, failed to acquire SoftwareOne, a global software and cloud solutions provider, for CHF3.2bn ($3.75bn).
The company's board unanimously rejected a proposal from Bain Capital, as the non-binding value indication neither provided sufficient certainty or reflected the value of SoftwareOne, the company said in a statement.
Attendo, the largest private provider of care services in the Nordic region, agreed to acquire the Swedish care operations of Team Olivia, a personal assistance provider, for SEK950m ($92m).
"I am very pleased to welcome so many engaged employees and new customers to the Attendo Group. Team Olivia has developed excellent care services with highly specialised expertise for people with complex care needs. Together, we will have a more balanced service offering and significant opportunities for synergies, purchasing coordination and knowledge exchange on quality development. I look forward to working with both new and old colleagues to create Sweden's best operations in disabled care as well as in individual and family care, while strengthening our role as Sweden's leading provider of home care services," Martin Tiveus, Attendo CEO.
Amancio Ortega, the Spanish billionaire, agreed to acquire a logistics centre in the Netherlands from Blackstone, an American alternative investment management company, for $121m.
The deal follows investments in logistics assets in the United States, including the acquisition in December of a warehouse in Florida.
Saint-Gobain, a manufacturing company, agreed to acquire Glass Service, a provider of digital solutions for glass furnaces. Financial terms were not disclosed.
The transaction will complement Saint-Gobain's range of digital services offering predictive, diagnostic, and data-driven solutions to improve energy efficiency for its customers and reduce the carbon footprint of their products and processes.
Calibre Scientific, a global distribution company, agreed to acquire MoBiTec, a German supplier of consumables and services for molecular and cell biology. Financial terms were not disclosed.
"For over three decades, MoBiTec has served as a trusted supplier of research and diagnostic supplies to a global clientele. I am enthusiastic about our newly formed partnership with BIOZOL and the extended Calibre Scientific team. I am confident that our collaborative support will not only amplify our outreach but will also bring substantial benefits to our valued customers," Stephan Diekmann, MoBiTec Founder and Managing Director.
Commerzbank merger talk resurfaces as Germany mulls company sales.
Five years after Deutsche Bank and Commerzbank aborted an attempt to merge, an uncertain outlook for bank profitability and Germany's need to plug a hole in its budget have rekindled speculation about a potential deal,
Reuters reported.
Germany has said it is looking at all options to raise funds by selling stakes in some of the 100 or more companies it owns. Though a sale of its remaining 15% holding in Commerzbank is not imminent, Finance Minister Christian Lindner is open to a disposal and ultimately would prefer the government exiting the stake.
Buyout shop Oakley Steers path to £500m car repair shop deal. (FS)
The founder of one of Britain's biggest chains of car repair shops is to toast a huge windfall after striking a deal to sell a majority stake in the company at a £500m ($637m) valuation,
Sky News reported.
Richard Steer, who founded Steer Automotive Group little more than five years ago, has reportedly agreed to offload a controlling interest to Oakley Capital, a private equity firm.
Greece to launch IPO for 30% of Athens International Airport. (FS)
Greece’s Hellenic Republic Asset Development Fund is launching an initial public offering of its 30% stake in Athens International Airport in its latest market foray since regaining investment-grade status,
Bloomberg reported.
Existing shareholder AviAlliance and members of the Copelouzos family will have the right to enter into cornerstone agreements to buy 10% and 1%, respectively. The sale may take place in early February.
Record $5bn private credit loan sought by Ardonagh.
The Ardonagh Group is holding talks to raise what would be the largest ever direct-lending deal,
Bloomberg reported.
Ardonagh is seeking as much as $5bn to help refinance debt, re-organize its balance sheet and fund fresh acquisitions. The firm is well-known in the rapidly-expanding market, having secured what was then the biggest-ever loan from a group of private credit funds in 2020.
Fourth Milling hires Riyad Capital for IPO.
Saudi Arabia’s Fourth Milling has picked Riyad Capital to work on its domestic initial public offering,
Bloomberg reported.
The share sale could happen as soon as in the first half of this year. The firm had already hired Himmah Capital to advise on the offering, which could raise more than $200m.
