Club Car entered into a definitive agreement to acquire Garia, a Denmark-based manufacturer of electric low-speed vehicles for the utility, consumer and golf markets, from Lars Larsen Group. Goldman Sachs is leading the debt financing on the transaction.
Platinum Equity completed its acquisition of Pelican Products, a designer and manufacturer of protective cases and gear for outdoor enthusiasts and supply chain solutions for the healthcare industry. BofA Securities was the lead underwriter for debt financing in support of the transaction.
Funds managed by Oaktree Capital Management, a global investment manager specializing in alternative investments, acquired Velocity Risk Underwriters, a catastrophe-focused property and specialty insurance risk managing general agent.
B. Riley Financial established a receivables business to provide debt monetization solutions and portfolio acquisition services for its clients. In connection with the formation of this new division, B. Riley Financial also purchased a portfolio of performing credit receivables from W.S. Badcock.
Citizens Financial Group entered into a definitive agreement to purchase substantially all of the assets of DH Capital, a private investment banking firm serving companies in the internet infrastructure, software and next generation IT services and communications sectors.
AlixPartners acquired the management consulting firm Galt & Company, which specializes in helping management teams achieve and sustain growth in shareholder value.
TEAM entered into a $50 million delayed draw subordinated term loan facility led by Corre Management Partners. TEAM also entered into an amendment to its senior secured term loan facility led by Atlantic Park Strategic Capital Fund.
Galaxy Universal, a portfolio company of Gainline Capital Partners, agreed to acquire the And1, Avia, Gaiam and SPRI brands from Sequential Brands Group for approximately $330 million. KKR led the debt financing for the acquisition and will participate as a co-investor.
The EQT Mid Market Europe fund (EQT Private Equity) agreed to sell Utimaco Verwaltungs to SGT Capital, a global alternative asset manager with offices in Germany and Singapore. Bain Capital Credit provided the financing for this transaction.
GBG USA commenced voluntary Chapter 11 proceedings in the U.S. Bankruptcy Court for the Southern District of New York. WH AQ Holdings and Hilco Brands will serve as the stalking horse bidders in a court-supervised sale process of the company and ReStore Capital is providing $16MM in DIP financing.