Divestitures in 2015

Cansel Survey Equipment Inc. has acquired Dowco Group of Companies' software reseller business, Dowco Technology Services (DTS), in a divestiture advised by Madison Street Capital. The sale allows Dowco to focus on its core steel detailing and BIM services business while Cansel expands its software and service offerings for construction, surveying and AEC customers in Canada.

Cegedim, through its U.S. subsidiary Pulse Systems, Inc., signed an agreement to acquire the U.S.-based Practice Management business of Nightingale Informatix Corporation, including the assets of Medrium, Ridgemark, Secure Connect and Northern Health Products. The acquired activities generated approximately €3.3 million in annual revenue and the deal was financed with internal financing to strengthen Cegedim's cloud practice management position in the United States.

Northern Lights Broadcasting, a subsidiary of the Pohlad Companies, purchased the Minnesota-focused local digital and broadcast news operation of BringMeTheNews, LLC in an asset sale advised by Cherry Tree & Associates. The transaction transfers BringMeTheNews' 24-hour digital news curation operation and related Minnesota assets — including its name and a 28‑station radio network reach — to Northern Lights, while BringMeTheNews' founder refocuses the remaining business under the name PresentNation for national digital news curation.

Old World Industries, LLC has acquired the automotive lighting business of EiKO Global, LLC in a divestiture transaction. Angle Advisors served as exclusive advisor to EiKO; the acquisition adds a broad portfolio of automotive lighting products to Old World’s aftermarket distribution and product capabilities.

Paine & Partners has agreed to sell Icicle Seafoods (Icicle Holdings, Inc.) in two concurrent transactions: Convergence Holdings, Inc. will acquire the company's land-based processing and farmed salmon operations, while Dominion Catchers, LLC will acquire harvesting and processing vessels and associated fishing rights. The buyers have committed to long-term contracts to continue Icicle's diversified seafood operations; the transactions are expected to close subject to customary conditions.

Hudson Insurance Company (Hudson Insurance Group) acquired Euclid Managers, LLC (Euclid-KC), an underwriting and claims manager focused on tech, media, manufacturers and miscellaneous professional liability, from Euclid Insurance Services, Inc. and Euclid-KC's management. The Euclid-KC team and operations will join Hudson's Professional Liability group and continue to operate from Kansas City as Hudson transitions the business into its platform.

Emerald Expositions, LLC acquired three design- and event-focused brands — Healthcare Design (conference + magazine), Environments For Aging (EFA), and Construction SuperConference (CSC) — from Vendome Group, LLC. The brands and team (based in Cleveland, Ohio) will join Emerald's Design Group; financial terms were not disclosed and Berkery Noyes represented Vendome.

ALTIVIA has signed a definitive agreement to acquire the Specialty Phosgene Derivatives business and related assets from Axiall Corporation, including the La Porte, Texas chemical production facility. The transaction transfers roughly 120 facility employees to ALTIVIA and is intended to expand ALTIVIA's manufacturing capabilities and global competitiveness in specialty phosgene-derived products used in agricultural, pharmaceutical and industrial applications.

Global Industrial, the industrial products business unit of Systemax Inc., has acquired Plant Equipment Group (PEG), a business unit of TAKKT America Holding Inc. and TAKKT AG. PEG, headquartered in Milwaukee, Wisconsin, is a direct-marketing distributor of storage and material handling products; the sale represents a divestiture by TAKKT and expands Global Industrial's product offering and North American distribution footprint.

GRT Rubber Technologies L.L.C., a newly formed company funded by an investor group led by Main Street Capital Corp. and including members of Garlock Rubber's management, purchased Garlock Rubber Technologies from EnPro Industries Inc. for about $44 million. The Paragould, Arkansas-based rubber products maker (80–90 employees) will continue operations under management with new capital intended to support organic growth and potential future acquisitions.

Egalet Corporation licensed worldwide rights to OXAYDO from Acura Pharmaceuticals and acquired SPRIX nasal spray from Luitpold Pharmaceuticals, transforming Egalet into a commercial-stage specialty pharmaceutical company focused on pain management. The company also secured $15 million of debt financing from Hercules Technology Growth Capital to fund the transactions and commercial expansion.