VCJ Staff
H.I.G. Capital has acquired approximately 7.9 million shares, or around 49.7%, of staffing services company Westaff Inc. (Nasdaq: WSTF) from shareholders including company founder W. Robert Stover. The deal was valued at around $45 million. H.I.G. partnered in the transaction with Michael Willis, a serial staffing industry entrepreneur who has founded both Talent Tree Inc. […]
Silver Lake Partners and Texas Pacific Group have received European Commission approval for their pending $5 billion acquisition of travel reservations company Sabre Holdings (NYSE: TSG). www.sabre.com
General Atlantic and Francisco Partners have agreed to acquire Aeroflex Inc. (Nasdaq: ARXX), a Plainview, N.Y.-based provider of high technology solutions to the aerospace, defense, cellular and broadband communications markets. The deal is valued at approximately $1 billion, with Aeroflex stockholders to receive $13.50 per share. www.aeroflex.com
EQT Partners has agreed to acquire Scandic Hotels AB from Hilton Hotels Corp. (NYSE: HLT) for an undisclosed amount. Scandic is the largest hotel chain in the Nordic region with 132 hotels and more than 23,000 rooms in 9 countries in northern Europe. In 2006, the company reported sales in excess of SEK 6 billion […]
Texas Pacific Group reportedly has sold airline catering company Gate Gourmet to Merrill Lynch. No financial terms have been disclosed. TPG bought Gate Gourmet from Swissair in 2002 for around $900 million. www.gategourmet.com
Genesis Capital has acquired Ultramatic Sleep of Canada, a supplier of electric adjustable beds. No financial terms were disclosed. www.genesiscapitalcorp.com www.ultramaticsleep.com
Ford Motor Co. has agreed to sell APCO to Stone Point Capital and APCO management. No financial terms were disclosed. APCO is a marketer and administrator of extended vehicle service contracts and warranties sold by automotive OEMs.
Hunt Private Equity Group and Fenwick Capital have acquired Poseidon Enterprises Inc., a Charlotte, N.C.-based seafood distributor. No financial terms were disclosed. www.huntpeg.com
Texas Pacific Group has completed its $450 million acquisition of the Transfusion Therapies business of Baxter International Inc. (NYSE: BAX). Maverick Capital also participated alongside TPG. The Transfusion Therapies business includes a global product portfolio of manual and automated blood-collection products and storage equipment, as well as five manufacturing facilities located in Haina, Dominican Republic; […]
Audax Group is in negotiations to acquire Total Automated Solutions Inc. from Industrial Growth Partners, according to LBO Wire. TAS is a Cleves, Ohio-based provider of industrial testing, measurement and assembly equipment.