The Valence Group’s Anton Ticktin, who’s been focused on mergers and acquisitions in the chemical sector since the late 1990s, ranks 2013’s deal prospects as bullish, with major private equity players wading in. “We have a very strong pipeline,” Ticktin said in a phone interview. “We think 2013 will remain pretty robust, maybe not at the peak of 2011, but certainly at a high level—maybe the same as 2012.”
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(Reuters) – Industrial and construction supplies distributor HD Supply Holdings Inc., backed by PE firms Bain Capital, Carlyle Group and Clayton Dublier & Rice, plans to raise as much as $1.33 billion in an initial public offering.
10 Hot Stories this Week: Kleiner Attempts Combeback, I-Banks Slowly Add Staff, Carlyle and Goldman Are Hiring
Trending on peHUB this week: Carlyle, Goldman Sachs, Kleiner Perkins, TPG, Advent Software, Google Ventures, CrunchFund, GRP, Velos Partners, corporate VC, Bain, BMC, Antero Resources, Warburg.
Dell is in talks with two private equity firms to go private, Bloomberg News reports.
Laboratory Corporation of America Holdings said Wednesday that it has “no knowledge” pf plans by private equity firms to take over the company via an LBO. LabCorp said in a statement that it is not in current discussions with any firms. LabCorp is responding to a Mergermarket report that says a PE consortium plans to [...]
Blackstone, BC Partners and PAI are into the second round of Permira’s auction of Europe’s biggest frozen food company, but Bain and Clayton Dubilier & Rice did not make the cut, Reuters reports.
US retailer Michaels Stores has filed with regulators to raise up to $500 million in an IPO that could be one of the year’s largest IPOs in the retail sector, writes Reuters. The offering comes six years after private equity owners Blackstone and Bain purchased the Texas-based arts and crafts company for more than $6 [...]
Leonard Green has done OK on Whole Foods
Zagat’s Got a Friend: Google buys Clever Sense
Deadspin’s Drew Magary is pretty freakin’ popular
Will the White House smackdown the GOP’s payroll tax pitch?
Steve Cohen Finds insider trading rules “vague.” Not vague: the thickness of a prison wall.
A Peculiar Love Affair: The private equity and pubic pension relationship
Would you work here? Bain tops best places to work list
Lasting FM: The grandaddy of online music services serenades users with new discovery tool
The Glaxo Consumer Assets Race: Thomas H Lee currently in the lead
Another Euro Bank gets ready to sell off PE assets
Pipe Dreams for Olympus? Ousted CEO says he would favour PE backing for a recapitalisation
Many bubble-era LBOs have turned in poor performances, according to a report from Moody’s Investors Service.
Moody’s looked at 40 LBOs from 2006 to early 2008, the go-go days for buyouts. While a majority of the companies have seen their financial leverage drop, earnings and revenue growth for most have been “significantly below” projections, Moody’s said.
Exits for the bubble group have also been rare. In fact, most are still owned by their PE owners, the report said. Seven have completed IPOs and only one target has been sold (that’s Alltel. Verizon Wireless acquired Alltel in 2009; it had been owned by TPG and Goldman Sachs PE unit). Only five of the companies have paid “material dividends,” while three companies–Chrysler, Aleris International and Station Casinos– have filed for bankruptcy, Moody’s said.