Term Sheet

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

Private equity deals

April 15, 2013: 9:44 AM ET

Madison Dearborn Partners has agreed to acquire National Financial Partners Corp. (NYSE: NFP), a New York–based provider of benefits, insurance and wealth management services, for approximately $1.3 billion. The $25.35 per share deal represents around a 26% premium over NFP's closing price on March 12 – the last day before press reports of a possible sale. www.nfp.com

CVC Capital Partners said that it is in preliminary talks to acquire British online gambling company Betfair, which closed trading Friday at a market cap of approximately £725 million. www.cvc.com

Elevation Resources LLC, a Midland, Texas-based oil and gas exploration company focused on the Permain Basin, has secured up to $400 million in private equity commitments led by Pine Brook Partners. www.pinebrookpartners.com

L Capital Asia, a private equity arm of LVMH Group, has acquired a 49.9% stake in Australian apparel retailer R.M. Williams for approximately A$52 million. www.rmwilliams.com.au

Sun Capital Partners has acquired 171 stores from British bedding and mattress retailer Dreams PLC, via an administration process. No financial terms were disclosed. www.suncappart.com

Warburg Pincus has acquired a minority equity stake in Avtec Ltd., an Indian supplier of auto parts to OEMs, from Actis. No financial terms were disclosed. www.avtec.in

Ridgebury Tankers LLC, a new sea tanker acquisition and operation platform, has secured a $200 million private equity commitment from Riverstone Holdings.

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About This Author
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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