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The U.S. spent $30 billion to ditch textbooks for laptops and tablets: The result is the first generation less cognitively capable than their parents

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Peter Thiel and other tech billionaires are publicly shielding their children from the products that made them rich

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Trump embraces Australian retirement system backed by Larry Fink

Private equity deals

By
Dan Primack
Dan Primack
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By
Dan Primack
Dan Primack
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September 20, 2012, 2:13 PM ET
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General Lighting Co., a Saudi Arabian portfolio company of The Carlyle Group, has acquired Davex, a Malaysian lighting fixture manufacturer, for approximately $60 million. www.carlyle.com

Novetta Solutions LLC, a portfolio company of Arlington Capital Partners, has acquired InternationalBiometric Group LLC, a McLean, Va.-based provider of identity intelligence services to government agencies. No financial terms were disclosed. www.novetta.com

Advent International and Rhone Group are the leading suitors for Cytec Industries Inc.’s (NYSE: CYT) coating resins business, according to Reuters. The deal could be valued at around $1 billion, with J.P. Morgan managing the process. www.adventinternational.com

Bain Capital
is in late-stage talks to acquire Sparks, Md.-based Apex Tool Group from Danaher Corp. (NYSE: DHR) and Cooper Industries PLC (NYSE: CBE), according to Reuters. The deal could be valued at between $1.5 billion and $1.8 billion, with Bain beating out rival bidders American Securities and Platinum Equity. Goldman Sachs is managing the process. www.apextoolgroup.com

Bain Capital
has dropped out of the auction for Australian surfwear company Billabong International Ltd. (ASX: BBG), leaving TPG Capital’s A$694 million, or A$1.45 per share, bid as the only remaining offer on the table. www.billabong.com

The Carlyle Group
has agreed to acquire a minority stake in Turkish lingerie and swimwear maker and retailer Penti. No financial terms were disclosed, although local press reports suggest the deal values Penti at approximately $450 million. www.penti.com

Leeds Equity Partners has agreed to acquire Evanta Ventures Inc. and Sports Leadership Institute Inc. from Daily Mail and General Trust PLC, for approximately $94 million. Evanta is a Portland, Ore.-based provider of P2P networking platforms for C-level executives, while SLI provides leadership forums for professional and collegiate sports team executives. www.leedsequity.com

Sign up for Dan’s daily email newsletter on deals and deal-makers: GetTermSheet.com

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