TLC Laser Eye Appoints Neal CEO

TLC Laser Eye Centers said Wednesday that George Neal was named CEO. Neal was previously a division VP, global sales and international mareketing with Abbott Medical Optics. TLC, which is backed by Charlesbank Capital Partners and H.I.G. Capital, provides LASIK and refractive eye care services. PRESS RELEASE TLC Laser Eye Centers, North America’s premier provider […]

CSI Leasing: Need To Sell?

Charlesbank Capital Partners’ CSI Leasing should be ripe for a potential deal opportunity, Hub sister pub Buyouts reports… Should Horatio be on the case?

HIG, Charlesbank Deal Vision Source to Brazos

Brazos Private Equity Partners will acquire the stake in Vision Source, the optometric franchise, that was acquired by HIG Capital and Charlesbank Capital Partners just 18 months ago. The sponsors reorganized TLC Vision after the company filed Chapter 11. Specifics on the deal were not made public. PRESS RELEASE: H.I.G. and Charlesbank Sell Interest in […]

Carlyle Buys Majority Stake in WorldStrides

The Carlyle Group has taken a controlling stake in WorldStrides, a student travel organization. Financial terms of the deal, which closed yesterday, weren’t disclosed. Charlottesville, Va.-WorldStrides provides supplemental educational student travel programs. The sellers were Charlesbank Capital Partners and Silverhawk Capital Partners, who will each continue to own stakes in WorldStrides.

Charlesbank Completes DEI Holdings Take-Private

DEI Holdings has completed its deal to sell to private equity firm Charlesbank Capital Partners, the firms said in a joint statement. DEI Holdings, the electronics company that makes, among its other products, Polk Audio home theater systems, was taken private from the Pink Sheets for $4.46 per share in cash, or about $305 million. The company’s existing management will remain in place.

Charlesbank Deals Animal Health

Lextron Inc., the Colorado-based animal health product distributor, has acquired Animal Health International from Charlesbank Capital Partners. The exit comes after a six-year hold for the Massachusetts-based private equity firm. Charlesbank Capital Managing Director Brandon White worked on the investment in Animal Health International for the private equity firm.

Charlesbank Capital Partners to Buy DEI Holdings

DEI Holdings, the California-based maker of consumer electronics products, was acquired off the Pink Sheets last week by Charlesbank Capital Partners in a $285 million deal. The deal includes a 35-day go-shop for DEI. Charlesbank has secured committed debt financing from General Electric Capital Corporation and OPY Credit Corp., an affiliate of Oppenheimer & Co. Inc. Greenberg Traurig, LLP is acting as legal advisor to DEI Holdings in connection with the transaction. Goodwin Procter LLP is acting as legal advisor to Charlesbank.

Charlesbank, H.I.G. Sell Vision Source After Nearly A Year

Today, we finally have more information about the sale of Vision Source to Brazos Private Equity Partners.

Charlesbank Capital Partners and H.I.G. Capital revealed Wednesday that they are the sellers of Vision Source, which is a unit of TLC Vision. Brazos, a Dallas PE firm, announced they invested in Vision Source last week, but didn’t give out much information. Brazos said they made a “significant” investment in Vision Source.

National Surgical, Being Sold to IPC, Gets B2 Rating from Moody’s

It’s Friday and we have some financial information on National Surgical Hospitals, which is being sold to Irving Place Capital.

Moody’s Investors Service assigned a B2 corporate family rating to National Surgical, including its pending $220 million loan package it will use to back Irving Place Capital’s investment. The rating outlook is stable, Moody’s said.

Moody’s said the B2 rating reflects the fact that NSH will have “considerable” leverage follow IPC’s buy. Dean Diaz, a Moody’s VP and senior credit officer, said NSH will have 5.4x adjusted debt to EBITDA. NSH recognized about $286 million in revenue for the 12 months ended Sept. 30, Moody’s said.

Charlesbank Buys Peacock Engineering from Behrman

Charlesbank Capital Partners has acquired Peacock Engineering Co., a portfolio company of Behrman Capital. Financial terms weren’t announced. Geneva, Ill.-based Peacock provides processing and packaging services for consumer companies like ConAgra Foods, General Mills and Kraft. Both Charlesbank and Behrman are PE firms. News of the deal was disclosed by Harris Williams which advised Peacock.

Charlesbank Promotes Bartlett and Klevens

Charlesbank Capital Partners has promoted Samuel Bartlett and Joshua Klevens to managing directors. They were previously vice presidents. Also, Charlesbank, a PE firm with offices in Boston and New York, said that Joshua Beer, a senior associate, was named a vice president.

Charlesbank Capital Buys Oncore Manufacturing

Charlesbank Capital Partners has acquired OnCore Manufacturing Services. Financial terms weren’t disclosed. Springfield, Mass.-based OnCore designs and makes complex electronic assemblies and system integration for defense, industrial, and medical companies. Charlesbank is PE firm with offices in Boston and New York.

Charlesbank Completes Blacksmith Sale To Prestige for $190 Million

Charlesbank Capital Partners has sold Blacksmith Brands Holdings to Prestige Brands for $190 million. The deal includes an additional working capital adjustment of $13.4 million. Charlesbank is a middle market PE firm. Prestige, of Irvington, N.Y., markets and sells consumer brands like Chloraseptic sore throat treatments, Clear Eyes eye care products and Compound wart removers. Blacksmith’s brands include Efferdent denture cleanser, Effergrip denture adhesive and Luden’s throat drops.

Middle Market M&A Heats Up

Middle market M&A is sizzling.

“We’ve never seen the level of deal flow that we’ve seen in the last four to five months,” said Andrew Janower, a managing director at at Charlesbank Capital Partners, during a panel Tuesday at the Dow Jones Private Equity Analyst conference.

Janower said he spoke recently to a boutique firm that claims to have 100 active M&A processes underway currently and 200 investment bankers at work. “That’s an indicator of how busy the M&A market is,” he said.

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