CDR aims to sell Core & Main stake; HitecVision plans sale of Sval Energi

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.

– EnCap Investments LP is considering a sale of shale-focused oil and gas producer Grayson Mill Energy LLC, Thomson Reuters reported, citing people familiar with the matter. The company could be valued at $5 billion, inclusive of debt, and Jefferies Financial Group Inc. has been enlisted to run the potential sale, the report said.

– KPS Capital Partners LP recently submitted an offer for UK specialty chemicals maker Elementis PLC, valuing it at 160 pence per share, but the Elementis board wanted about 180 pence, according to Thomson Reuters, which cited two people familiar with the matter. KPS has since paused its work, the report said.

– Private equity firms Advent International LP, KKR & Co. Inc., Brookfield Corp. and CVC Ltd. are among the potential acquirers weighing bids for fund distribution business Allfunds Group PLC, Thomson Reuters reported, citing two people familiar with the process. Swiss stock market operator SIX Group Ltd is also considering a bid as Allfunds completes a strategic review that could lead to a sale, the report added.

– Clayton Dubilier & Rice LLC aims to sell its remaining stake in Core & Main Inc., a distributor of water, wastewater, storm drainage and fire protection products and services, Bloomberg News reported, citing people familiar with the situation. CDR owned about 8.65% of Core & Main's shares as of Jan. 10, the report noted.

– Private equity and venture capital firm HitecVision AS plans to sell portfolio company Sval Energi AS, an oil and gas producer, Thomson Reuters reported, citing four sources. The deal could value Sval at up to $1 billion, including debt, the report added.

– Technology-focused private equity firm Silver Lake Technology Management LLC aims to buy out minority investors and take private listed sports and entertainment company Endeavor Group Holdings Inc. Bloomberg News reported. Silver Lake, which is already the controlling shareholder in Endeavor, plans to sell off some of the company's assets if the potential transaction goes through, the report added.

– Private equity fund managers J.C. Flowers & Co. LLC and Kotak Alternate Asset Managers Ltd. are among the entities weighing bids for all or part of retail infrastructure business Future Enterprises Ltd., The Economic Times reported, citing multiple people aware of the development. Future Enterprises' lead creditor, Central Bank of India, is also among the 11 entities eyeing the business, according to the report.

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