PE-owned IMS Health raises $1.3 bln for IPO

IMS Health has launched its IPO of 65 million shares after pricing it at $20 per share. The stock began trading Friday on the NYSE under the ticker symbol “IMS.” J.P. Morgan Securities, Goldman Sachs and Morgan Stanley & Co. are the lead underwriters. Headquartered in Danbury, Conn., IMS Health is a global information and technology services firm that focuses on the healthcare sector. It is owned by TPG Capital, CPP Investment Board and Leonard Green & Partners.

Reuters – Best Buy Spurns $1bn Minority Investment

Best Buy Co has turned down a $1 billion minority investment proposal by founder Richard Schulze‘s three private equity partners, writes Reuters. Under the proposal, Leonard Green Partners, Cerberus Capital Management and TPG Capital would have each received a seat on the board of the world’s largest electronics retailer, writes Reuters.

Investcorp Realizes CCC Investment

Investcorp has completed the sale of CCC Information Services to Leonard Green & Partners. CCC is a provider of advanced software and workflow tools to the insurance automotive claims and collision repair industries. The sale unlocks over $550 million in proceeds for Investcorp and its investors.

CCC Backed by Leonard Green & Partners

Leonard Green & Partners is to acquire a controlling interest in CCC Information Services from Investcorp. CCC is a provider of advanced software and workflow tools to the insurance automotive claims and collision repair industries. Committed debt financing has been provided by certain affiliates of Goldman Sachs, including its principal mezzanine funds and J.P. Morgan.

doctors

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.

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