Sport Supply Group, a marketer, manufacturer and distributor of sporting goods and branded team uniforms, has entered into a definitive merger agreement to be acquired by an affiliate of Oncap Management Partners, the mid-market private equity business of Onex.
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Oncap to acquire Sport Supply Group for USD13.55 per share in cash
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Phillips-Van Heusen to acquire Tommy Hilfiger for USD3.0bn
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Phillips-Van Heusen has signed a definitive agreement to acquire Tommy Hilfiger, which is controlled by funds affiliated with Apax Partners, for total consideration of EUR2.2bn (approximately USD3.0bn) plus the assumption of EUR100m in liabilities.
Read more »Sebia To Switch Private Equity Sponsors
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LONDON (Reuters) - Montagu Private Equity agreed the sale of medical diagnostics business Sebia to rival Cinven, a further sign the buyout industry is reviving after a slow year for deals in 2009.
Since its acquisition in 2006 by Montagu, Sebia has increased market share in existing markets and has expanded in new growth high growth areas, the private equity firm said in a statement on Monday.
The company has been valued at about 800 million euros ($1.1 billion) in press reports.
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Excel Telecom Switches Sponsors
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Denham Capital has agreed to sell the assets of Excel Telecommunications to Matrix Telecom Inc., a portfolio company of Platinum Equity. No financial terms were disclosed. Excel is an Irving, Texas-based provider of integrated voice and data communications products and services to residential, commercial and carrier customers.
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GyPSii Raises $11 Million
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GyPSii, a Dutch developer of location-based social networking applications, has raised $11 million in VC funding led by UK-based Schroders.
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CPI Card Group Buys Premier Card Assets
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CPI Card Group, a Littleton, Colo.-based manufacturer of financial payment cards, has acquired certain assets of Roseville, Minn.-based Premier Card Solutions. No financial terms were disclosed. CPI is a portfolio company of Tricor Pacific Capital, while PCS is a portfolio company of Valor Equity Partners.
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Antisense Pharma Raises €13 Million
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Antisense Pharma, a German developer of cancer therapeutics, has raised €13 million in new VC funding. Return backers included MIG Fonds and the Global Asset Fund.
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Read more »SurgicEye Raises New VC Funding
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SurgicEye GmbH, a German developer of intra-operative imaging and instrument navigation for the removal of breast cancer and melanoma, has raised an undisclosed amount of Series A funding from FVW Investments and Clusterfonds Innovation. SurgicEye is a spin-out from Technische Universität München. www.surgiceye.com
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Sequoia Capital Backs Snaptu
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Snaptu (f.k.a. Moblica), an Israeli mobile application developer, has raised an undisclosed amount of Series A funding from Sequoia Capital.
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Snaptu, a leading mobile application company, today announced it has secured funding from Sequoia Capital.
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Rhythm Pharma Raises $21 Million
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Rhythm Pharmaceuticals, a Boston-based developer of peptide therapeutics for metabolic diseases, has held a $21 million first close on its Series A funding. MPM Capital and New Enterprise Associates co-led the financing, which will be used to developer products licensed from Ipsen (Euronext: IPN).
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OpenGate Capital acquires Nicole Farhi fashion brand
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Private equity firm OpenGate Capital is acquiring fashion label Nicole Farhi from French Connection Group in a transaction expected to close within the next 90 days.
Read more »Encore Ventures Staffs Up
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Richard Marsh and Jonathan Freuchet-Sibilia have joined Encore Ventures, the secondaries unit of European VC firm DFJ Esprit, as a partner and investment manager, respectively. Marsh previously was an investment manager with Oxford Capital Partners, and will take over responsibility for assets acquired late last year from 3i Group. Freuchet-Sibilia previously was an associate with Jefferies International.
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Phillips-Van Heusen Nears $3 Billion Deal for Tommy Hilfiger
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NEW YORK (Reuters) - Phillips-Van Heusen (PVH.N) is close to a deal to buy U.S. fashion brand Tommy Hilfiger Corp for about 2.2 billion euros ($3 billion), The New York Times reported on Sunday, citing people briefed on the matter.
The cash and stock deal could be announced as soon as Monday morning, the Times reported. But the newspaper cautioned that talks are still ongoing and a deal may not be reached.
Tommy Hilfiger Corp is currently owned by private equity firm Apax Partners.
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SS&C Technologies Scales Back IPO Plans
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SS&C Technologies Inc., a Windsor, Conn.-basedfinancial management software company backed by The Carlyle Group, has set its IPO terms to 10.73 million shares being offered at between $13 and $15 per share.
This is a reduction in the company’s plans, as it originally filed last December to raise $300 million. It had previously filed for, and withdrawn, a $200 million offering.
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Meru Networks Sets IPO Terms
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Meru Networks Inc., a Sunnyvale, Calif.-based developer of wireless infrastructure solutions, has set its IPO terms to 4.39 million common shares being offered at between $13 and $15 per share. It would have a market cap of approximately $223 million, were it to price at the high end of its range.
Meru Networks plans to trade on the NYSE under ticker symbol MERU, with BoA Merrill Lynch serving as lead underwriter.
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KKR and Warner Consider EMI Breakup Bid
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LONDON (Reuters) - Private equity firm KKR and Warner Music Group (WMG.N) are in talks to launch a break-up bid for Warner’s indebted British rival EMI, the Sunday Times newspaper said.
The paper said KKR is interested in acquiring the music publishing arm of EMI, which it says bankers value at around 1.2 billion pounds ($1.8 billion), while Warner Music wants EMI’s recorded music division, which it says is more difficult to value.
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KKR boosts asset management platform
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Kohlberg Kravis Roberts has appointed four professionals within its USD13bn asset management platform, KKR Asset Management.
Read more »Stonegate attracts venture capital from Second Curve Partners
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Stonegate Mortgage Corporation has received an equity investment from Second Curve Partners, an Indianapolis based private equity firm.
Read more »Cinemark Raises $660m, Madison Dearborn to Sell Shares
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Cinemark Holdings, a publicly traded movie house operator, completed a $660 million fundraising from a joint venture between AMC and Regal Entertainment Group, led by JPMorgan and Blackstone Advisory Partners. The company’s backers, Madison Dearborn Capital Partners, Syufy Enterprises LP Mitchell Special Trust, will sell some of their shares, leaving Madison Dearborn with a 32.1% stake, Syufy Enterprises with 5.3% and the Mitchell Special Trust 4.9%.
Read more »CVC Sells Paperbox Holdings
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(Reuters) - Private equity fund CVC Partners has agreed to sell Paperbox Holdings Ltd to Japan’s Oji Paper Co Ltd for an undisclosed amount, Oji said on Friday.
CVC acquired Paperbox, a unit of Malaysia’s GS Paper & Packaging, in 2007 from Malaysian gaming group Genting (GENT.KL) for $212 million.
The deal comes amid a series of private equity exits in Asia, helped by an improvement in market sentiment.
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