Water Street Healthcare Partners, a private equity firm focused exclusively on the healthcare industry, has sold Precision Dynamics Corporation (PDC) to Brady Corporation in a cash transaction for USD300m, subject to customary working capital and post-close adjustments. Water Street divested PDC after spending five years building the company into a global leader in patient safety identification (ID) through a combination of strategic acquisitions and organic initiatives. Headquartered in Valencia, California, PDC designs and manufactures products used by hospitals across the US to reduce medical errors, and integrate and share patient data. Water Street partnered with PDC’s founders and management team

Private equity firm GTCR has completed the acquisition of Correctional Healthcare Companies (CHC), an outsourced healthcare provider to correctional facilities. GTCR is partnering with CHC chief executive Doug Goetz, chief operating officer Don Houston and managed care industry executive Dale Wolf to grow and expand the business. This investment results from GTCR’s proactive efforts with Wolf and Jessamine Healthcare, a management startup with Wolf, targeted at a range of healthcare cost containment and payor businesses. Wolf, former chief executive of Coventry Health Care, has joined CHC as executive chairman as part of the transaction. CHC provides inmate healthcare services to

JHP Pharmaceuticals, a pharmaceutical company that acquires, develops, manufactures and sells sterile injectable products, has been acquired by an affiliate of private equity firm Warburg Pincus. The company was acquired from JHP Holdings, an entity majority-owned by Morgan Stanley Principal Investments, for USD195m on a debt-free, cash-free basis.  JHP’s current management team will continue to hold an interest in the company. Since its founding in 2007, JHP has developed into a leading specialty pharmaceutical company focused on the USD30bn US sterile injectable drug market. JHP’s market presence, high-quality sterile manufacturing facility, and experienced management team, coupled with growth capital and

Independent financial advisory and investment banking firm Duff & Phelps is to be acquired by a consortium comprising controlled affiliates of or funds managed by The Carlyle Group, Stone Point Capital, Pictet & Cie and Edmond de Rothschild Group for USD15.55 per share in cash in a transaction valued at approximately USD665.5m. The offer represents a 19.2 per cent premium to the closing price of Duff & Phelps shares on 28 December 2012, and 27.3 per cent over the company’s volume weighted average share price during the 30 days ended 28 December 2012. The transaction is expected to close in

Affiliates of US Joiner have acquired JCI Metal Products, a provider of maintenance, repair and overhaul (MRO) services focused on habitability, fabrication, electrical and piping solutions to US Navy vessels.  JCI is headquartered in San Diego, California with additional operations in Pearl Harbor, Hawaii. The acquisition will enable US Joiner to further establish its position in the US Navy MRO market and expand its footprint in the Pacific. US Joiner is an independent domestic provider of turnkey marine joiner and furniture solutions for US Government and commercial customers. Headquartered in Crozet, Virginia, the company also has existing facilities in San

Funds advised by Apax Partners have reached an agreement to sell LR Health & Beauty Systems to a consortium consisting of private equity firms Bregal Capital and Quadriga Capital. LR markets cosmetics, personal hygiene products, dietary supplements, perfumes and jewellery through the direct sales channel. The new shareholders will support LR Group in expanding its national and international activities. The transaction is subject to approval by the relevant anti-trust authorities. The parties agreed not to disclose the sale price. "LR Health & Beauty has a unique business model within the direct sales market. From the beginning the management-team, headed by

Business Growth Fund (BGF), established to help the UK’s fast growing smaller and medium sized businesses, has invested GBP2.5m of growth capital for a minority stake in Manchester-based Boost Juice Bars UK, a growing chain of retail stores specialising in the sale of freshly made smoothies and juices. Boost currently operates 10 stores across the UK including Manchester’s Trafford Centre and Piccadilly train station, London’s Westfield White City and Westfield Stratford, Meadowhall Sheffield and Bristol’s Cribbs Causeway.   Operating in the fast growing wellness category, Boost provides a healthy alternative to soft drinks, on-the-go meals and sweets. Nutritional and health

PAI Partners has signed an agreement to acquire IPH Group, a European industrial supplies distribution business, from Investcorp for an undisclosed amount. The business services sector is a core area of investment focus and expertise for PAI. The firm’s previous investments in this sector include SPIE, Kiloutou, Kwik-Fit, FTE Automotive and Xella. PAI, whose recent investments include Marcolin, an Italian eyewear manufacturer, Swissport, a provider of ground and cargo handling services, The Nuance Group, a duty-free airport retailer, Kiloutou, the number two equipment rental business in France, and Hunkemoller, a lingerie retailer based in The Netherlands, will look to grow

Propel Equity Partners, a private equity firm focused on investing in consumer brands, has acquired Fundex Games, a maker of popular games. The assets of Fundex Games will be incorporated under the Ideal and POOF brands of POOF-Slinky, makers of iconic toys under the Slinky, POOF, Ideal, and Scientific Explorer brands, among others. POOF-Slinky. was acquired by Propel Equity Partners in July 2012. “Fundex Games has a wide array of board, card, outdoor and dice games, as well as toys, that fit perfectly under our existing brands” says Michael Cornell, partner, Propel Equity Partners. “This acquisition is a good next