Private Equity investment firm Golden Gate Capital (GGC) has acquired Express Oil Change & Tire Engineers (Express Oil) from Carousel Capital. Express Oil will remain headquartered in Birmingham, Alabama and will continue to be led by its current management team, including Chief Executive Officer Ricky Brooks. Express Oil’s management and Carousel Capital will remain shareholders of the Company. Financial terms of the transaction were not disclosed.   Founded in 1979, Express Oil is one of the largest independent automotive service platforms in the United States, with approximately 300 company-owned and franchise locations across 15 states. Express Oil pioneered a unique

Antares Capital is serving as administrative agent and sole lead arranger on a senior secured credit facility to support the acquisition of SmartBear Software (SmartBear) by Francisco Partners. Founded in 1999 and headquartered in Somerville, MA, SmartBear is a global leader in software quality tools for teams. With over 22,000 customers, SmartBear is integral in helping software developers and testers create the highest quality software applications.   “Antares’ software knowledge and flexibility were key during this transaction,” says Brian Decker, principal at Francisco Partners. “We appreciate working with a team that understands our investment philosophy, and has a history of

Liberty Hall Capital Partners (Liberty Hall), a private equity firm focused exclusively on investments in businesses serving the global aerospace and defence industry, has acquired Dunlop Aircraft Tyres Ltd, an independent global designer, manufacturer and retreader of aircraft tires, in a transaction valued at USD135 million. Dunlop Aircraft Tyres represents Liberty Hall’s first portfolio company focused on providing aftermarket products and services to the global aerospace and defence industry.    Dunlop is the brand of tire originally produced by the Dunlop Pneumatic Tyre Company beginning at the end of the 19th century, taking its name from founder John Boyd Dunlop.

Orrick has advised Michelin on its acquisition of NexTraq, a US provider of commercial fleet telematics, from Fleetcor Technologies in an all-cash transaction. NexTraq provides solutions for driver safety, fuel management and enhancing fleet productivity.  Since its inception in 2000, NexTraq has become a leading provider of GPS fleet management solutions for fleets of small commercial vehicles (classes three to five) ranging from two to 50 vehicles.   “Telematics and fleet management services are a rapidly growing category worldwide and an important area of Michelin Group’s overall business plans,” says Ralph Dimenna, chief operating officer for Michelin Americas Truck Tires,

Private equity firm Warburg Pincus has completed its acquisition of a 35 per cent stake in tfintech company Avaloq, a specialist in integrated and comprehensive banking solutions. Under the partnership announced on 22 March 2017, Avaloq will be able to capitalise on Warburg Pincus’ expertise and network in the financial services and fintech sectors to accelerate the company’s long-term growth and value creation strategy.