MidOcean Partners has agreed to take Pre-Paid Legal Services (NYSE: PPD) private in a $650 million buyout. The firm will pay Pre-Paid shareholders $66.50 in cash per share of common stock. Berenson & Company and Mayer Brown are advising Pre-Paid's special committee, while Macquarie Capital and Kirkland & Ellis are advising MidOcean. Macquarie is also providing debt financing for the deal. Pre-Paid is a provider of legal plans and services.