doctors
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J.W. Childs to Make Roughly 5x Their Money with CHG Sale

Once a firm passes into zombieland can it ever come back? J.W. Childs Associates may have something to say about that. Leonard Green & Partners and Ares Management are buying CHG Healthcare Services, a Salt Lake City-based healthcare staffing firm, that is majority owned by J.W. Childs.

Ares Management to Buy Smart & Final in $975 Mln Deal: UPDATED

Ares Management has agreed to buy a majority stake in Smart & Final Holdings in a deal valued at $975 million. Senior management is retaining a minority stake. The seller was Apollo Global Management. Commerce, Calif.-based Smart & Final is smaller store, warehouse-style, “no membership fee,” multi-format retailer that serves both households and smaller businesses. Morgan Stanley, Bank of America Merrill Lynch, Credit Suisse, and Deutsche Bank Securities are providing debt financing. UPDATE: Robert Robison, R. Alec Dawson, Juan Damian Guzman and Andrew Milano of Morgan Lewis provided legal advice to Smart & Final. Dan Mandel, Dan Fetters and Thomas Amster of Morgan Stanley acted as financial advisor to Smart & Final. Michael Woronoff and Daniel Ganitsky of Proskauer Rose supplied legal advice to Ares.

New York City Commits $600M to Ares, Trilantic, Palladium

New York City’s five pension funds made $600 million in fresh commitments to three private equity funds, according to a spokesman for the New York City Comptroller’s Bureau of Asset Management, which manages their assets. As of June 30, 2012, the five pensions had combined assets of $122 billion. The three new commitments are $300 […]

Ares Management Set to Announce First Close on Fund IV

A senior executive at Ares Management said the firm plans to announce a first close on its new $4 billion buyout and growth capital fund, Ares Corporate Opportunities Fund IV LP, during the first quarter of 2012. Ares is known for investing in such high profile firms as GNC Holdings, 99-Cent Only Stores and the Serta and Simmons Bedding Companies….

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99-Cent Only Acquired by Ares and CPPIB

99-Cent Only Stores has been acquired by affiliates of Ares Management, Canada Pension Plan Investment Board and the Gold/Schiffer family for $22.00 per share in cash. Founded in 1982, 99-Cent Only Stores currently operates 292 stores consisting of 214 stores in California, 36 in Texas, 29 in Arizona, and 13 in Nevada. PRESS RELEASE 99-Cent […]

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Sbarro Emerges from Chapter 11 Without MidOcean or Ares

Sbarro, which is no longer backed by MidOcean Partners, has successfully come out of bankruptcy.

Late Monday, the quick service restaurant said it had emerged from Chapter 11 with significantly reduced debt and a $35 million capital infusion. “Our reorganization plan eliminates more than 70 percent of our debt, and provides access to $35 million in fresh capital from our new ownership group,” said Nicholas McGrane, Sbarro’s interim president and CEO, in a statement.

99 Cents Only Stores Sells for $1.6B

Ares Management and Canada Pension Plan Investment Board will pay $22 per share, or $1.6 billion, for 99 Cents Only Stores, Reuters reported Tuesday. Reuters also wrote that members of the Schiffer/Gold family, who are key stakeholders in the company, have agreed to vote in favor of the transaction.

Ares Management Nabs Investment Platform of Wrightwood Capital

Ares Management, an L.A.-based alternative asset manager, has acquired the investment platform of Wrightwood Capital, a provider of debt capital to the U.S. commercial real estate sector. The terms of the transaction were not disclosed, but as part of the deal, more than 40 Wrightwood employees have joined the Ares Private Debt Group to focus on […]

Ares Management Buys Indicus Advisors

Private equity investor Ares Management will acquire Indicus Advisors, an investment manager in European leveraged finance and global structured corporate credit. Terms of the deal were not released. Ares Management is based in Los Angeles.

Aurora, Ares, Sell out of Douglas Dynamics

Affiliates of private equity firms Aurora Capital Group and Ares Management are among a group selling five million shares of listed, Wisconsin-based Douglas Dynamics via a secondary offering, it was announced. Credit Suisse Securities (USA) LLC, Oppenheimer & Co. Inc., Robert W. Baird & Co. Incorporated and Piper Jaffray are acting as underwriters for the offering.

Air Lease IPO Raises $802.5M

Air Lease Corp., an aircraft leasing company backed by Leonard Green & Partners, Ares Management and Wilbur Ross’s WL Ross & Co., raised $802.5 million in its initial public offering Monday, Reuters reported. The company sold 30.3 million shares, for $26.50 each, which was more than expected. Air Lease had planned to sell 25 million shares for $25 to $28 each, Reuters wrote. The company is based in Los Angeles, and will use the proceeds to complete roughly $6.8 billion in aircraft purchases.

PE-Owned GNC Debuts on NYSE

GNC Holdings Inc. saw its shares rise in its New York Stock Exchange debut Friday, Reuters reported. The company, a retailer of wellness and nutrition products, saw its shares reach $16.55 in early trading, after pricing at $16. Apollo Global Management, GNC’s previous owner, had tried to take GNC public twice before selling the store chain to Ares Management LLC and the Ontario Teachers’ Pension Plan Board in 2007, Reuters wrote. Ares planned to sell 2.4 million shares in the IPO. OTPP planned to sell 3 million shares.

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