Navis Capital Buys Photon Division For $152M

Law360, New York (November 3, 2011, 6:17 PM EDT) -- Malaysian private equity firm Navis Capital Partners acquired a division of communication services company Photon Group Ltd. for $152 million, Photon said Thursday.

The announcement comes just two days after Navis said it would sell safety footwear provider King's Safetywear Ltd. to Honeywell International Inc. for $338 million.

Under the agreement, Navis will acquire Photon's field marketing and retail division and two closely related businesses, Artel and Retail Insight. The purchase price is equal to seven times the businesses' earnings before interest, taxes, depreciation and amortization...
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