PE firms seek to acquire Cura Day Hospitals; KKR increases bid for Circor

S&P Global Market Intelligence presents In Play Today, a periodic summary of potential private equity deal activity, including rumored transactions. This summary is based on information obtained on a best-efforts basis and may not be inclusive of all potential deal activity.

– Intermediate Capital Group PLC is among those seeking to acquire Australian private hospital operator Cura Day Hospitals Group Pty. Ltd., which is up for sale through investment bank Citi, The Australian reported. Intermediate Capital Group has reportedly tapped Rothschild and Miles Advisory as advisers. Private equity firms Pacific Equity Partners and Crescent Capital Partners Management Pty. Ltd., and infrastructure funds HRL Morrison & Co Ltd. and Morgan Stanley Infrastructure Inc. are also interested in acquiring Cura.

– KKR & Co. Inc. raised its offer to acquire Circor International Inc., which provides mission-critical flow control products and services, to $56 per share after Arcline Investment Management LP offered to buy Circor for $57 per share. After a review, Circor's board concluded that the difference in price contemplated by Arcline's proposal is more than offset by the increased deal certainty associated with KKR's revised offer. The board supports the amended agreement with KKR and recommends that stockholders vote in favor of the transaction.

– IK Partners is in exclusive negotiations for the sale of its stake in Pr0ph3cy Group to The Carlyle Group Inc. IK Partners will reinvest in Pr0ph3cy alongside Carlyle and the French cybersecurity company's management team.

– Private equity firms Pacific Equity Partners, KKR, Brookfield Corp., Carlyle and EQT AB (publ) are among those interested in buying Quadrant Pvt. Equity Pty. Ltd.-owned childcare business Affinity Education Group Ltd., The Australian reported.

– Nordic Capital is likely planning to sell Danish bakery chain Lagkagehuset A/S, which includes shops in Denmark, London and New York.

– Private equity firm Fajr Capital Ltd. is in discussions to acquire a majority stake in Aster DM Healthcare Ltd.'s Gulf business, Reuters reported, citing two sources with direct knowledge of the matter. Fajr is reportedly in the final stages of due diligence and could close a deal soon.

– Accel-KKR LLC and its investee company Basware Oyj are in discussions with Glantus Holdings PLC for a potential takeover of the software-as-a service provider. Accel-KKR has until Aug. 16 to announce a firm intention to make an offer.

– Warburg Pincus LLC's talks to acquire a majority stake in Appasamy Associates Pvt. Ltd. are in the advanced stages, The Economic Times reported, citing people aware of the development. The parties have signed an exclusivity agreement, and due diligence has commenced. Warburg seeks to acquire a 65% to 70% interest in Appasamy.

– Tata Sons Pvt. Ltd. is weighing an offer to buy back a stake in pay TV platform Tata Play Ltd. from private equity firm Temasek Holdings (Pvt.) Ltd. and talks between the parties are ongoing, Business Standard reported, citing people with knowledge of the matter. Temasek has about a 20% stake in Tata Play.

– Aster DM Healthcare's promoters have started stake-sale talks with private equity firms including Blackstone Inc. and KKR and may be open to selling a controlling interest in the India-listed hospital chain, The Economic Times reported, citing people aware of the matter. The discussions are expected to gain momentum after Aster completes the sale of its Gulf business.

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