Topspin Partners LBO, a lower mid-market buyout shop, has made a substantial investment in Brighter Dental Care, a chain of dental practices in New Jersey, Buyouts reported earlier, citing firm Managing Director Leigh Randall . The company’s seven practices perform general dental, periodontic, orthodontic, endodontic and oral surgery procedures, and employs a business model in which [...]

Golub Capital said Wednesday that it was providing debt financing to support the acquisition of Bradenton, Fla.-based First Watch Restaurants Inc. by Freeman Spogli & Co. Terms of the deal were not released. First Watch owns 82 restaurants spanning nine states. Freeman Spogli is a private equity firm with offices in Los Angeles and New York.

Irvine, California-based Boot Barn, a western and work wear specialty retailer, has been acquired by private equity firm Freeman Spogli & Co and Management. Boot Barn was previously a portfolio company of investment firm Marwit Capital. PRESS RELEASE Boot Barn, Inc., the nation’s largest western and work wear specialty retailer, announced today that it has [...]

Investcorp seems to have hit its sweet spot in its deal for Seattle kitchenware retail chain Sur La Table Inc.: The Bahrain-based firm paid something above $200 million to Freeman Spogli & Co. and the Behnke family in the hand-off, a person with knowledge of the deal told peHUB. Not much more is known about [...]

Freeman Spogli & Co. has finally closed its sixth fund with $735 million in commitments, Partner Bill Wardlaw told sister magazine Buyouts.

The fund fell well short of its $1 billion target. But, said Wardlaw, “given the fundraising environment, we were pleased with what we got.”

There must be some relief and exhaustion on the part of Wardlaw and his colleagues too.

Ares Management and Freeman Spogli & Co. have acquired specialty flooring retailer Floor and Decor Outlets of America for an undisclosed amount. Los Angeles-based firms Ares and Freeman Spogli bought the Atlanta-based flooring company from an investor group including Najeti Ventures, Saugatuck Capital Company, and TWJ Capital. Financial terms of the deal were not released.

LA-Based buyout firm Freeman & Spogli has raised $419.2 million toward its sixth buyout fund, according to an SEC filing. The firm entered the market with FS Equity Partners VI LP last year, targeting $1.75 billion. But in the past 12 months, Freeman & Spogli has yet to hit its halfway point. In March of [...]

May was a big month for junk bonds: More than $15.9 billion worth of the high yield notes were issued, which was the highest monthly total since June 2008. That figure includes issuances from several buyout-backed companies, including large offerings from Harrah’s Entertainment, Apria Healthcare and Gibson Energy Holdings.

Buyouts’ Ari Nathanson wrote that the action offers a glimmer of hope that investors might be more comfortable with risk, and perhaps hungry to invest in high yield debt for new leveraged buyouts.

I’m wondering if it’s not based on risk appetite at all, but simply reflects a desire to invest in anything. Some of these issuers go beyond “risk.” Harrah’s, for example, raised $1.323 billion worth of junk bonds, an increase from the original plan to sell $1 billion. Since its debut, the company’s notes traded at a respectable 96 to 97 cents on the dollar.

Below, the latest round of S&P ratings headlines on a few private equity-backed portfolio companies. Listings with asterisks denote inclusion in S&P’s Weakest Links list.

December 16, 2008
Brookstone Inc. Outlook Changed To Negative; ‘B’ Corporate Credit Rating Affirmed. Brookstone is backed by J.W. Childs Associates and Temasek Holdings.

Perkins & Marie Callender’s Inc. Downgraded To ‘CCC’ On Note Payment Concerns. Perkins & Marie Callendar’s Inc. is backed by Castle Harlan. ***

Del Frisco’s Restaurant Group Outlook Changed To Negative;’B’ Corporate Credit Rating Affirmed. Del Frisco’s is backed by