VCJ Staff
Kohlberg Kravis Roberts & Co. and Texas Pacific Group have agreed to acquire Dallas-based energy company TXU Corp. (NYSE: TXU), in a transaction valued at $45 billion. This would be the largest leveraged buyout in history, topping Blackstone Group's recent $39 billion deal for Equity Office. Under terms of the TXU agreement, company shareholders would […]
Apax Partners and Morgan Stanley Principal Investments have agreed to acquire Chicago-based insurance brokerage Hub International Ltd. (NYSE: HBG; TSX: HBG) for $40 per share. The total deal is valued at approximately $1.8 billion, including around $145 million of assumed debt. Hub is being advised on the sale by Merrill Lynch. www.apax.com www.hubinternational.com
Station Casinos Inc. (NYSE: STN) has accepted a received a $90 per share buyout offer that would be worth approximately $5.4 billion ($3.4 billion in assumed debt), from Colony Capital and company CEO Frank Fertitta. The original offer was just $82 per share. The deal is expected to close later this year, pending shareholder approval. […]
Steel Partners has agreed to acquire Bairnco Corp. (NYSE: BZ) for $13.50 per share. Bairnco is a Lake Mary, Fla.-based multinational that operates two distinct businesses – Arlon (electronic materials and coated materials segments) and Kasco (replacement products and services segment). www.bairnco.com
Golden Gate Capital and Circle Peak Capital have acquired Rocket Dog, a Hayward, Calif.
Baird Capital Partners has sponsored a management buyout of Amoena Group, a Raubling, Germany
FdG Associates has made a minority investment in the parent company of newly-formed Proficio Bank, which markets specialized banking and mortgage services to the relocation, homebuilding and real estate brokerage industries. No financial terms were disclosed. www.fdgassociates.com
Providence Equity Partners has acquired a majority stake in Dutch and Flemish DTH satellite TV operators CanaalDigitaal and TV Vlaanderen. No financial terms were disclosed for the deal, which is still subject to Dutch regulatory approval. www.provequity.com
Key Principal Partners has sponsored a management buyout of Kellermeyer Building Services, a Maumee, Ohio-based provider of customized commercial cleaning services to the retail industry. KPP's investment included $36 million in preferred equity and subordinated notes. www.keyprincipalpartners.com www.kbs-clean.com
Century Park Capital Partners has acquired ROM Corp., a Belton, Mo. from Hampshire Equity Partners. No financial terms were disclosed, except that Patriot Capital Funding provided $28.15 million in one-stop financing. ROM is a Belton, Mo.-based provider of niche products for the trucking and transportation market