We have found that a number of our limited partners have created very professional groups to co-invest with us in deals. These groups are so responsive that we can approach them quickly, and have them take significant co-invest pieces of our deals — whereas in the previous years we might have brought in another private […]
Harvest Partners has completed its sale of Communications Supply Corp. to Wesco International Inc. (NYSE: WCC). No financial terms were disclosed. Communications Supply Corp. is a Carol Stream Ill.-based distributor of low voltage network infrastructure and industrial wire and cable products. www.harvpart.com www.gocsc.com
Oracle Corp. (Nasdaq: ORCL) has acquired San Francisco-based revenue and operations management software company SPL WorldGgroup from GFI Energy Ventures. No financial terms were disclosed. www.oracle.com www.splwg.com
ECI Partners has sold UK-based holiday company Kirker Travel to Kuoni for an undisclosed amount. ECI had acquired Kirker in a 2002 management buyout. www.kirkerholidays.com www.kuoni.co.uk
Western Financial Group has agreed to acquire a 25% stake in Canadian insurance brokerage Hayhurst Elias Dudek Inc. The deal will represent an exit for VenGrowth Private Equity Partners, which invested a total of $7.5 million into HED in December 2003, in exchange for a 10% stake.
Anixter International Inc. (NYSE: AXE) has acquired Italy-based fastener distributor MFU Holding SpA from company management, Kairos Partners and MPS Venture. www.mfu.it
AnalogicTech Inc. (Nasdaq: AATI) has acquired the power management analog business of China-based IPCore Technologies Corp., including subsidiary AP Semi and certain related assets. The deal is valued at $21.5 million in cash. IPCore backers include 3i Group, Pacific Venture Partners and Walden International. www.analogictech.com www.ipcoreinc.com
Clifton House Acquisition Ltd. has sold The Expanded Metal Company Ltd. (EMCO), a UK-based supplier of expanded metal mesh components and finished goods, to Gibraltar Industries Inc. (Nasdaq: ROCK). No financial terms were disclosed, except that EMCO has annual sales of approximately $62 million. www.gibraltar1.com
Capgemini, a France-based provider of tech consulting and outsourcing, has agreed to acquire Kanbay International (Nasdaq: KBAY), a Rosemont, Ill.-based provider of IT services for the financial services market. The total deal is valued at $1.25 billion, with Kanbay shareholders to receive $29 per share in cash. Kanbay went public in 2004, but VC backers […]
Some quick hits before embarking on the return trip from Portland, Ore. to Boston… *** Today’s big LBO deal news is the possibility that Clear Channel could go private for around $18.5 billion. There are lots of angles of this deal worth discussing – high leverage multiples, family management control but not financial control, a […]