VCJ Staff
Genstar Capital has completed its previously-announced acquisition of International Aluminum Corp. (NYSE: IAL), a Monterey Park, Calif.-based manufacturer of residential and commercial aluminum building materials. IAL shareholders received $53 per share, for a total transactional value of $228 million. www.gencap.com www.intlalum.com
Quadrangle Capital Partners has agreed to acquire Hargray Communications Group, a Hilton Head, S.C.-based telecom provider serving southeastern South Carolina and northeastern Georgia. No financial terms were disclosed for the deal, which also includes Hagray directories publishing unit Data Publishing Company Inc. Following the close of the transaction, Quadrangle will name current Morningstar Management CEO […]
Caxton-Iseman Capital has agreed to acquire KCP Income Fund (TSX: KCP.UN), a Canadian manufacturer of consumer products in the laundry, household cleaners, personal care, OTC medicated and pharmaceutical categories. KCP unit-holders will receive Cnd$10 per unit, for a total transaction value of around Cnd$804 million.
J.H. Whitney & Co. has withdrawn its $38 per share buyout offer for Herbalife Ltd. (NYSE: HLF), after the company's board rejected the bid for being too low. In a letter to the board, Whitney said it was “surprised and disappointed that the committee chose not to discuss the proposal with us or include the […]
The Wicks Group of Cos., has acquired correspondence education company Education Direct Inc. from The Thomson Corp. (NYSE: TOC). No financial terms were disclosed. (Note: Thomson Corp. is the parent company of peHUB publisher Thomson Financial) www.thomsoneducationdirect.com
Veda Advantage Ltd. (f.k.a. Baycorp Advantage), a listed credit-checking giant in Australia and New Zealand, has accepted an Au$3.61 per share buyout offer from Pacific Equity Partners and Merrill Lynch Global Private Equity. The offer gives Veda an enterprise value of approximately Au$963 million, including Au$149.2 million in net debt.
Image Entertainment Inc. (Nasdaq: DISK), a Chatsworth, Calif.-based independent licensee, producer and distributor of home entertainment programming in North America, has agreed to be acquired by David Bergstein and hedge fund D.B. Zwirn & Co. The total transaction is valued at around $132 million, with Image stockholders to receive $4.40 per share in cash. Lazard […]
Apollo Management has received shareholder approval to acquire real estate franchisor Realogy Corp. (NYSE: H) for $30 per share. The entire deal is valued at approximately $9 billion, including around $1.6 billion in assumed debt and approximately $750 million of other liabilities. Apollo is committing $2 billion of equity, and has secured leveraged financing commitments […]
Battery Ventures has agreed to acquire Quovadx Inc. (Nasdaq: QVDX) for $3.15 per share, for a total transaction value of approximately $136.7 million. The deal includes: Quovadx's ISD division, which provides enterprise solutions for hospitals, government entities and health plans; and its Rogue Software group, which provides reusable software components and services to professional developers […]
Highland Capital Management has acquired Nex-Tech Aerospace (f.k.a. Thayer Aerospace), a Wichita, Kansas-based manufacturer of structural airframe components and assemblies for the aerospace, defense and space industries. No financial terms were disclosed.