CVC mulls $3.4 bln IPO of Sweden’s Ahlsell, say sources: Reuters

Buyout firm CVC is mulling a stock market listing for Swedish construction products and tools supplier Ahlsell, which could be worth around 3 billion euros ($3.4 billion) including debt, people familiar with the matter said. The sources said CVC had invited banks to discuss options for an initial public offering (IPO) of Ahlsell which could happen next year, although no firm timing had been set. “They invited a few selected banks to pitch last week,” one source familiar with the matter said. CVC and Ahlsell declined to comment. The sources declined to be identified because the plans are not public. Plans to list Ahlsell add to a big IPO pipeline of private equity-owned Swedish companies after a record first half of the year, when 12 companies floated on the Stockholm bourse’s main board. Most of them have strongly outperformed the wider market. Ahlsell, which CVC bought in 2012 for 1.8 billion euros from Cinven and the private equity arm of Goldman Sachs, would probably be the biggest among known IPO candidates in Sweden in the next year. Private equity-owned companies on track for listings this year include Bain’s Bravida, EQT’s Dometic and AcadeMedia, as well as PAI’s Perstorp. Deutsche Bank advised CVC when it bought Ahlsell, whereas Goldman Sachs and Nordea advised the sellers. All three banks helped finance the deal. Ahlsell employs around 4,800 people and had earnings before interest, tax, depreciation and amortisation (EBITDA) of 1.9 billion Swedish crowns ($227 million) in 2014 on sales of 21.8 billion, most of it in Sweden. Apart from the Nordic countries, it has some sales in Estonia, Russia and Poland.

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CVC mulls $3.4 bln IPO of Sweden’s Ahlsell, say sources: Reuters

Infogain to buy Blue Star Infotech’s IT group

Infogain Corp. said Tuesday that it is buying the IT operations of Blue Star Infotech Ltd. Financial terms weren’t announced. The combined entity will have revenue of over $150 million, close to 4,000 employees and eight delivery locations globally. Infogain is a portfolio company of ChrysCapital. PRESS RELEASE LOS GATOS, Calif.–(BUSINESS WIRE)–Infogain Corporation, a global business and IT consulting leader, today announced that Infogain and Blue Star Infotech, Limited (NSE: BLUESTINFO) have entered into definitive agreements under which Infogain will acquire Blue Star Infotech’s IT operations. The acquisition will expand Infogain’s digital transformation offerings, particularly in the areas of Cloud, mobility, SAP and analytics; adding specialized capabilities in the travel/hospitality, high-tech and healthcare verticals. In addition, the acquisition will strengthen and enhance the leadership position of Infogain in the areas of product engineering and test automation. Infogain provides customer-facing solutions, processes and applications that lead to a more efficient and streamlined digital customer experience for enterprises in the US, Europe, the Middle East, Asia Pacific and Indian markets. With 20%+ revenue CAGR, Infogain’s growth has outpaced industry growth by more than 50%. The company has more than doubled its revenue over the past four years and continues to see significant traction among existing as well as new clients. This acquisition will enable Infogain to expand its services portfolio to support current customers, strengthen existing retail, insurance and high-tech verticals, and enter into new verticals such as travel and hospitality. The combined entity will have revenue of over $150 million, close to 4,000 employees and eight delivery locations globally. This acquisition is being announced within weeks following a $63M Investment by ChrysCapital. Commenting on the acquisition, Sanjay Kukreja, Managing Director at ChrysCapital noted, “BSIL’s IT assets are an ideal fit for Infogain with the vision of creating a leading new age digital services platform with combined capabilities in Cloud, mobility, SAP, analytics and product engineering. We expect the combined company to grow to half a billion dollars, through organic and inorganic growth, within the next five years.” “This acquisition is another achievement toward our vision of transforming Infogain into a much larger IT services player delivering innovation and outstanding value to our clients,” notes Kapil Nanda, President and Chief Executive Officer of Infogain. “Blue Star Infotech has achieved outstanding success over recent years, and I look forward to working with its high-performance leadership and team to deliver even greater value to clients. I am extremely excited to welcome them to the growing Infogain team.” “The IT industry is evolving as never before, and we are excited by the opportunity to offer our clients increased scale of our operations as well as broader capabilities including next-generation technologies,” explains Sunil Bhatia, Chief Executive Officer and Managing Director at Blue Star Infotech. “The culmination of many years of outstanding growth nurtured by our founder Suneel Advani, this acquisition will align BSIL’s IT Business with a larger peer thereby strengthening its position in the industry.” Cynthia Stoddard, CIO at NetApp (NTAP) and a longstanding client of Infogain, commented, “Infogain’s capabilities, talent pool, and geographic presence will certainly be expanded with the acquisition of Blue Star Infotech. We are excited to continue to involve Infogain in activities around our new offerings such as NetApp Private Storage for Azure and other Cloud environments.” Kapil Nanda, President and Chief Executive Officer of Infogain, will continue in this role. Sunil Bhatia will join Infogain’s management team as its CEO designate, and will assume his new responsibilities as CEO of the combined entity on July 1, 2016. At that time, Kapil Nanda will transition to his role as full-time Executive Chairman. BSIL’s board of directors has unanimously approved the acquisition, which is expected to close towards the end of 2015, subject to BSIL shareholder approval, regulatory approvals and other customary closing conditions. Avendus Capital Private Limited is serving as the financial advisor and Talwar Thakore & Associates as the legal counsel to BSIL. Wilson, Sonsini, Goodrich & Rosati is serving as the legal counsel to Infogain Corporation. About Infogain Infogain (www.infogain.com) provides front-end, customer-facing technologies, processes and applications that lead to a more efficient and streamlined customer experience for enterprises in the US, Europe, the Middle East, Asia Pacific and India. Offering solutions for the high-tech, retail and insurance verticals, Infogain specializes in areas such as software product engineering, digital service automation and mobility. A Gold level partner of Oracle (ORCL), Infogain has outstanding Oracle capabilities for point-of-sale systems, merchandising systems, CRM systems, knowledge management systems, ERP and next generation call center capabilities. The company’s customer retention rate of 90%+ over a five-year period is a testament to the ability of the team to identify clients’ specific needs and provide best-in-class solutions across a broad spectrum of service areas. About Blue Star Infotech Ltd Blue Star Infotech Limited (www.bsil.com), a digital transformation consulting and services company, combines the best of engineering, creativity and technology to deliver the next generation of software solutions to its global customers and enable them to be future?ready. Part of the well?known Blue Star Group, Blue Star Infotech is a listed company with its global headquarters in Mumbai, India, and with operations in USA, UK, Europe, Malaysia, and Singapore. The company is focused on delivering value-added and future?proofed software solutions by leveraging emerging technologies and trends while preserving existing investments for gaining competitive advantages. About ChrysCapital ChrysCapital is a private equity firm that was started in 1999 and currently manages US $2.5B across six funds. The firm has deployed over US $2B across 70+ investments and has had 50+ successful exits. The firm’s investors include global endowments, sovereign funds, family offices, foundations and fund of funds. To learn more about ChrysCapital, please visit www.chryscapital.com.

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Infogain to buy Blue Star Infotech’s IT group

IBM acquires Momentum Equity-backed Meteorix

IBM has acquired Meteorix, a provider of workday implementation, optimization and integration services for mid-market companies. No financial terms were disclosed. Clearsight Advisors advised Meteorix on the transaction. Meteorix was backed by Momentum Equity Partners. PRESS RELEASE ARMONK, N.Y. – 28 Sep 2015: IBM (NYSE: IBM) today announced plans to acquire Meteorix LLC, a premier Workday (NYSE: WDAY) services partner, to help companies gain new competitive advantage by aligning people with financial performance and redefine work with the speed and simplicity of cloud-delivered finance and HR services. Executives are under increased pressure to make the best possible decisions faster and with more predictable outcomes to drive growth and competitive advantage. Companies are looking for new ways to attract, engage, develop and support employees amidst the fierce global competition for top talent. Advancements in cloud, mobile, analytics and cognitive computing allow both finance and HR executives to operate with a more complete, real-time picture of their organization. Workday is one of the world’s leading providers of enterprise cloud applications for finance and HR. With an exclusive focus on Workday, Meteorix has cultivated deep expertise and best practices for maximizing returns from the strategic use of Workday applications. Meteorix has more than 200 certified Workday consultants and a track record of success delivering complex, high-value services to multi-national leaders and innovators across a wide range of industries. “The planned acquisition of Meteorix can make IBM one of the leading, most qualified and experienced Workday service providers in the world,” said Bridget van Kralingen, senior vice president, IBM Global Business Services. “It deepens the quality of service to existing Workday clients and dramatically expands our reach to new clients. Meteorix’s Workday implementation experience combined with our industry and transformational expertise as well as the industry’s foremost business analytics capability and leadership in cognitive computing will unlock next-generation employee engagement and productivity while accelerating financial performance.” “We owe Meteorix’s rapid growth and success to the dedication and customer focus of our team as well as our strong commitment to Workday. Once part of IBM, we’ll strengthen our unwavering commitment to customer success while adding global scale, deepening industry and business transformation expertise and tapping IBM innovation,” said Sam Spector, CEO of Meteorix. “The combined expertise of IBM and Meteorix will enable clients to rapidly implement and maximize the value of Workday while transforming their finance and HR capabilities for the future. That’s a win for everyone.” The majority of Workday customers rely on the expertise of service providers that meet Workday’s stringent requirements and are able to align corporate challenges with the capabilities of Workday applications. The planned acquisition of Meteorix will expand IBM’s ability to help clients deploy Workday applications and transform traditional finance and HR. “The combination of IBM and Meteorix will bring significant added value to our customers,” said Aneel Bhusri, co-founder and CEO, Workday. “Meteorix’s deep Workday experience together with the industry expertise of IBM gives our customers a global strategic partner to help them put their finance and HR operations in the cloud and transform their businesses for future growth.” This planned acquisition will build on IBM’s significant investments and research in cloud computing and workforce science. IBM continues to help clients apply behavioral science and world-leading capabilities in advanced analytics, technology integration and psychological principles to drive better business performance. IBM Cloud offers one of the industry’s largest portfolio of software, services, data center solutions and consulting for private, public and hybrid cloud environments. Financial terms and conditions were not released.

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IBM acquires Momentum Equity-backed Meteorix

PE-backed ProTransport-1 buys Century Ambulance Service

ProTransport-1 LLC, which is backed by New Heritage Capital, has acquired Century Ambulance Service Inc. No financial terms were disclosed. Based in the Jacksonville, Florida area, Century is a medical transport provider. PRESS RELEASE BOSTON–(BUSINESS WIRE)–New Heritage Capital (“Heritage”) is pleased to announce that its portfolio company ProTransport-1, LLC (“ProTransport-1”) has acquired Century Ambulance Service, Inc. (“Century”), a leading interfacility medical transport provider in the Jacksonville, Florida metro area. Century represents ProTransport-1’s second acquisition in 2015, having closed the acquisition of Los Angeles-based PRN Ambulance in July. Founded in 1981 with just two ambulances, Century now operates a fleet of over 50 ambulances and has a staff of more than 290 employees. ProTransport-1, headquartered in Cotati, CA, is a premier provider of comprehensive patient logistics services to leading healthcare systems in its service areas. ProTransport-1 provides the highest levels of patient care while employing leading technologies and highly skilled medical professionals to enable the safe and efficient coordination and transport of large numbers of medically complex patients within a health system and its environment. The company receives the highest satisfaction ratings from its patients and health system partners. Founded in 2000, ProTransport-1 was recapitalized in 2012 by its founders and Heritage. Since 2012, the company has grown its staff from 600 to over 950 personnel and it now operates more than 170 vehicles. “We are excited to partner with the Century team in the North Florida market, another move in our deliberate expansion into additional geographies,” said Mike Sechrist, co-founder and CEO of ProTransport-1. “Century serves a blue chip base of healthcare providers and we are eager to introduce many of our technologies and services to help serve those customers.” John Glover, the president of Century, commented, “Century provides the highest quality interfacility medical transport in the Jacksonville area. Partnering with ProTransport-1 allows us to continue what we do well while bringing additional technology-driven services to our customers. I believe the combination of Century and ProTransport-1 will strengthen our Jacksonville presence and will enhance our service offering to our employees, our hospital customers, and our patients.” Melissa Barry, Principal of Heritage, added, “Century represents another important step towards our goal of building the preeminent patient logistics business in the United States. We are excited about the opportunities that Century will provide to ProTransport-1, and enthusiastic to continue supporting the team as they further their growth in new and existing markets.” About Heritage Heritage is a Boston-based private equity firm with a twenty-year history of partnering with growing, middle market, founder-owned businesses. In a typical transaction, Heritage makes a significant equity investment in a company while allowing founder-managers to retain operational control and meaningful economics. Our approach provides shareholders with the desired amount of liquidity, resolves transition issues, and allows shareholders to maintain control and accelerate the growth of their company. Such transactions provide a company with capital for growth, as well as a partner deeply experienced in providing strategic guidance to growing founder-owned businesses. For more information, please visit http://www.newheritagecapital.com.

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PE-backed ProTransport-1 buys Century Ambulance Service

Cabot Microelectronics Corp to acquire VC-backed NexPlanar Corp

Cabot Microelectronics Corp has agreed to buy NexPlanar Corp for about $142 million. The deal is expected to close within 30 to 45 days. Based in Hillsboro, Oregon, NexPlanar is a maker of advanced CMP pad solutions for the semiconductor sector. NextPlanar’s backers included BlueRun Ventures, Intel Capital, SmartForest Ventures, Finaventures and Interwest Partners. PRESS RELEASE AURORA, Ill., Sep 28, 2015 (GLOBE NEWSWIRE via COMTEX) –Cabot Microelectronics Corporation, the world’s leading supplier of chemical mechanical planarization (CMP) polishing slurries and a growing CMP pad supplier to the semiconductor industry, announced today that it has entered into a definitive agreement to acquire NexPlanar Corporation (NexPlanar), a privately-held, U.S. based company that specializes in the development, manufacture and sale of advanced CMP pad solutions for the semiconductor industry. Under the acquisition agreement, Cabot Microelectronics will purchase 100 percent of the stock of NexPlanar for a purchase price of approximately $142 million, plus up to an additional $2.3 million depending upon treatment of certain unvested stock options held by NexPlanar security holders. At closing, NexPlanar is expected to have approximately $15 million of cash and no debt. The company intends to fund the acquisition from its available cash balance. Cabot Microelectronics’ acquisition of NexPlanar is directly aligned with its strategy to strengthen and grow its core CMP consumables business, and in particular, CMP pads. NexPlanar has established meaningful supply positions with technology leading customers for advanced technology node applications. The Company expects that NexPlanar’s innovative ElementTM thermoset polyurethane CMP pad technology will complement its own EpicTM thermoplastic polyurethane technology. In addition to expanding its pad product portfolio, Cabot Microelectronics anticipates that the acquisition will leverage the company’s existing global sales and technology infrastructure, as well as its supply chain capabilities and quality systems. “We are excited to combine NexPlanar with our CMP business, to enable us to deliver a broader range of world-class CMP pad solutions to the semiconductor industry,” stated David Li, President and CEO of Cabot Microelectronics. “More important, we believe that our leadership in CMP slurries, combined with an expanded CMP pad portfolio, will enable us to better serve the needs of our customers around the world, including the delivery of performance differentiated slurry and pad consumable sets. NexPlanar’s talented team has developed and commercialized unique technology that has won adoption with leading semiconductor manufacturers at advanced technology nodes. Leveraging our extensive global infrastructure, we expect NexPlanar will enable us to accelerate growth in our CMP pads area, and more broadly, contribute to profitable growth for our company.” James LaCasse, NexPlanar’s President and CEO, commented, “We are delighted to become part of Cabot Microelectronics. We are proud of our technology and the business we have earned, and we believe that partnering with Cabot Microelectronics will enable faster growth and better support of our customers through their extensive research, development, sales and global supply chain capabilities. We look forward to being part of the Cabot Microelectronics family and contributing to its business worldwide.” NexPlanar was established in 2003 and is headquartered in Hillsboro, Oregon. It operates research and development, manufacturing and administrative functions there, and has approximately 100 employees. Its trailing four quarter revenue is approximately $22 million, and it has nearly tripled its revenue over the past two years. NexPlanar investors include Interwest Partners, BlueRun Ventures, Intel Capital and Samsung Ventures. Cabot Microelectronics expects to close the transaction within 30 to 45 days, subject to customary closing conditions and regulatory approvals. CONFERENCE CALL Cabot Microelectronics will host a conference call to discuss the acquisition on September 28, 2015 at 9:00 a.m. Central Time. The conference call will be available via live webcast and replay from the company’s website, www.cabotcmp.com, or by phone at (844) 825-4410. Callers outside the U.S. can dial (973) 638-3236. The conference code for the call is 48844589. A transcript of the formal comments made during the conference call will also be available in the Investor Relations section of the company’s website. ABOUT CABOT MICROELECTRONICS CORPORATION Cabot Microelectronics Corporation, headquartered in Aurora, Illinois, is the world’s leading supplier of CMP polishing slurries and a growing CMP pad supplier to the semiconductor industry. The company’s products play a critical role in the production of advanced semiconductor devices, enabling the manufacture of smaller, faster and more complex devices by its customers. The company’s mission is to create value by developing reliable and innovative solutions, through close customer collaboration, that solve today’s challenges and help enable tomorrow’s technology. The company has approximately 1,025 employees on a global basis. For more information about Cabot Microelectronics Corporation, visit www.cabotcmp.com or contact Trisha Tuntland, Director of Investor Relations at 630-499-2600. ABOUT NEXPLANAR CORPORATION NexPlanar Corporation has developed unique technology that enables it to modulate CMP pad properties, such as pad hardness, pore size, compressibility and groove profiles, to develop customized solutions for demanding semiconductor applications and integration schemes, including those for emerging technologies. These solutions allow for low stress CMP (required for the most advanced CMP applications) and result in an order of magnitude fewer defects and lower overall cost of ownership. For more information about NexPlanar Corporation, visit www.nexplanar.com.

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Cabot Microelectronics Corp to acquire VC-backed NexPlanar Corp