Deals That Close – PEG 2015 -06 – 05

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Information provide by Associated Press, CB Insight, Crunchbase, Forbes, Market Watch, Reuters, and other sources.  Please check company website for best information.

• Avenger Flight Group, a Ft. Lauderdale, Fla.-based provider of flight simulator training and services to civil aviation clients, has secured an undisclosed amount of growth equity funding from Seacoast Capital and Patriot

• Bain Capital and PAG Asia Capital are considering acquisition offers forTakata Corp., the Japanese auto air-bag manufacturer that already has received takeover interest from KKR, according to Bloomberg.

Carlyle Group

• The Blackstone Group and The Carlyle Group have bailed on the auction for Canadian drugmaker Concordia Healthcare Corp. (TSX: CXR), sending the company’s stock down by as much as 21% in trading yesterday.

• CST Brands Inc. (NYSE: CST), a San Antonio, Texas-based convenience store chain with a $3.4 billion market cap, has received first-round takeover bids fromSeven & I Holdings (the Japanese parent company of 7-Eleven), Canada’sCouche-Tard Inc. (TSX: ATD) and a private equity pairing of Apollo Global Management with The Blackstone Group, according to Reuters.

• Distribution International Inc., a Houston, Texas-based distributor and fabricator in the mechanical insulation market, has acquired certain assets of Spokane, Wash.-based Johnson Insulation LLC. No financial terms were disclosed. Distribution International is a portfolio company of Advent International.

• Equistone has acquired ChartCo Ltd., a London-based provider of digital navigation and voyage compliance services to the marine industry, from ECI Partners at an enterprise value of 55 million.

• Providence Equity Partners has agreed to acquire a majority equity stake inOEConnection LLC, a Richfield, Ohio-based provider of auto parts technology for OEM distribution networks. No financial terms were disclosed. Existing OEConnection shareholders Ford Motor Co. and General Motors each will retain 15% minority stakes.

• Riverstone Holdings has agreed to acquire Talen Energy (NYSE: TLN), an Allentown, Penn.-based power generation company, in which it already held a 35% stake. Talen was spun off by PPL Corp. (NYSE: PPL) just a year ago, and is being valued by this deal at $5.2 billion (including debt), with Riverstone paying $14 per share (56% premium to March 31 price, after which reports of a possible deal surfaced).

• Sun Capital Partners has completed a dividend recap for portfolio company Spectralink, a Boulder, Colo.-based provider of on-site enterprise wireless communications devices. Financing was provided by The Private Bank & Trust Co., although specific details were not disclosed. Sun Capital acquired Spectralink back in May 2012.

Thoma Bravo

• Thoma Bravo has agreed to acquire Qlik Technologies Inc. (Nasdaq: QLIK), a Radnor, Penn.-based provider of business intelligence software, for approximately $3 billion, or $30.50 per share. Other early suitors had included Bain Capital and Permira. Read more.

Information provide by Associated Press, CB Insight, Crunchbase, Forbes, Market Watch, Reuters, and other sources.  Please check company website for best information.

Happy Networking,

JD Morris

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