Term Sheet

The latest on private equity, M&A, deals and movements — from Wall Street to Silicon Valley

Private equity deals

November 15, 2012: 10:53 AM ET

Innospec Inc. (Nasdaq: IOSP) today announced that it has increased its non-binding buyout offer for TPC Group Inc. (Nasdaq: TPCG), a Houston-based specialty chemicals company, to $47.50 per share in cash. It also said that it now is partnering on its bid with The Blackstone Group. Innospec previously indicated interest at between $44 and $46 per share, to top an existing bid from First Reserve Corp. and SK Capital Partners. Those two firms later increased their own offer for $45 per share (enterprise value of nearly $706 million). www.tpcgrp.com

Apollo Global Management is in pole position to acquire Aviva PLC's (LSE: AV) U.S. life insurance and unities unit, according to Bloomberg. Apollo is partnering with Guggenheim Partners on its bid, which is expected to be at a "substantial discount" to the unit's book value. Harbinger Group also has submitted an offer. www.aviva.com

Blackthorne Partners has acquired Berlon Industries, a Hustisford, Wisc.–based maker of buckets and attachments for skid loaders, telehandlers and compact utility tractors. No financial terms were disclosed. www.berlon.com

Dynamic Healthcare Services Inc., a portfolio company of GMH Ventures, has acquired HomeTown Oxygen Pittsburgh LLC, a Pennsylvania distributor of medical products and equipment including respiratory and sleep apnea equipment. No financial terms were disclosed. www.gmh-ventures.com

Monster Worldwide Inc. (NYSE: MWW) has not received any takeover bids from private equity, according to Bloomberg. Apollo Global Management, Bain Capital, Onex Corp. and TPG Capital all took a look at the online classifieds company, but passed. Monster reportedly continues to seek a buyer for all or part of the company. Its market cap currently is just shy of $700 million. www.monster.com

PJ United, a Papa John's franchisor owned by Halifax Group, has acquired 26 Papa John's Pizza stores from Gaunce Management. No financial terms were disclosed. The stores are located in 10 states.www.mypapajophns.com

WaveDivision Holdings, a Kirkland, Wash.-based fiber optic and broadband services company with business and residential customers in Washington, Oregon and California, has secured more than $1 billion in new funding, including "substantial equity investments" from Oak Hill Capital Partners and GI Partnerswww.wavebroadband.com

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Dan Primack
Dan Primack
Senior Editor, Fortune

Dan Primack joined Fortune.com in September 2010 to cover deals and dealmakers, from Wall Street to Sand Hill Road. Previously, Dan was an editor-at-large with Thomson Reuters, where he launched both peHUB.com and the peHUB Wire email service. In a past journalistic life, Dan ran a community paper in Roxbury, Massachusetts. He currently lives just outside of Boston.

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