Divestiture News

DETROIT--(BUSINESS WIRE)--Huron Capital Partners (“Huron Capital”), a leading middle market private equity firm, is pleased to announce the sale of Horsepower Automotive Group (“HPAG” or the “Company”), a diversified aftermarket automotive platform, to River Associates Investments (“River Associates”).Huron initially launched the platform in 2015 through its acquisition of Drake Automotive, a provider of vintage Mustang enthusiast parts. Through a focused buy-and-build strategy, Huron completed...

VICTORIA, British Columbia--(BUSINESS WIRE)--Vecima announces an agreement to sell the assets of its Telematics business segment, including its Nero Global Tracking software, to Lantronix....

NEW YORK--(BUSINESS WIRE)--Regulatory News: Coty Inc. (NYSE: COTY) (Paris: COTY) (“Coty” or “the Company”) today announced that it has entered into an agreement to transition the Gucci Beauty license back to Kering for a consideration of approximately $400 million. Under the terms of the agreement, Coty will continue to operate the Gucci Beauty brand through at least June 30, 2027, ending the license approximately one year ahead of the original license term. Markus Strobel, Executive Chairman a...

CHICAGO--(BUSINESS WIRE)--HC Private Investments (“HCPI”), a Chicago-based private equity firm, announced today the sale of its portfolio company, Epicurean Butter (“Epicurean”), to Solina USA (“Solina”). Terms of the transactions were not disclosed. Since partnering with Epicurean’s founders John and Janey Hubschman in 2019, HCPI made significant investments in senior leadership, equipment, facilities and innovation to support the Company’s transformation from a founder-owned business into a s...

TOKYO--(BUSINESS WIRE)--Mitsubishi Electric Corporation (TOKYO: 6503) announced today that it reached an agreement on July 2 to transfer a portion of its shares in its wholly owned, Fukuoka-based subsidiary, Mitsubishi Electric FA Industrial Products Corporation, to Konecranes Oyj, a company based in Finland. The transaction is expected to be completed within the current fiscal year ending in March 2027, pending necessary regulatory approvals. Following the transfer, Mitsubishi Electric FA Indu...

NEW YORK--(BUSINESS WIRE)--Stable Asset Management (“Stable”), one of the largest and most-tenured GP stake builders focused on GP seed and acceleration investing, today announced the completion of its sale of a portfolio of minority, net revenue-share interests in alternative asset managers (the “Target Portfolio”) to Navigator Global Investments (ASX: NGI), a diversified alternative asset management company, for a total consideration of $190 million. The closing marks the establishment of a l...

RALEIGH, N.C.--(BUSINESS WIRE)--Vontier Completes Divestiture of Teletrac Navman...

ELGIN, Ill.--(BUSINESS WIRE)--The Middleby Corporation (NASDAQ: MIDD) today announced that it has completed the previously announced spin-off of its Food Processing business, now operating as Midera Food Processing, Inc. (“Midera”). Shares of Midera common stock will begin trading “regular way” on The Nasdaq Stock Market under the ticker symbol “MFP,” effective at the market opening on July 7, 2026. “This separation represents the culmination of strategic portfolio work to unlock the full value...

PARIS & LONDON--(BUSINESS WIRE)--Sofinnova Partners, a leading European life sciences venture capital firm, today announced that its portfolio company Myricx Bio (“Myricx”) has reached agreement to be acquired by Novartis, for up to $1.5 billion including $1.1 billion cash upfront plus potential milestone payments. This marks Sofinnova Partners' seventh exit in three years. Myricx Bio is a UK-headquartered transatlantic biotech company focused on the discovery and development of a novel class o...

LAS VEGAS--(BUSINESS WIRE)--Affinity Interactive (“Affinity” or “the Company”) today announced the successful completion of the transition of Primm Valley Casino Resorts’ (“Primm”) operations by the Company’s subsidiary The Primadonna Company, LLC (“TPC”) to the Primm landlord and Terrible’s. Contrary to misstatements and what has been reported in the press, the discussions between TPC and the Primm landlord regarding the Primm property lease began more than two years ago. This was done in conj...