GE Antares Capital Provides $405 Million Credit Facility for Tank Holdings Acquisition

GE Antares, a Chicago-based unit of GE Capital, provided a $405 million senior credit facility to support Leonard Green & Partners’ acquisition of Tank Holdings, a manufacturer of rotational polyethylene and steel storage tanks and containers. Leonard Green is an L.A.-based private equity firm. PRESS RELEASE: GE Antares, a unit of GE Capital, announced today it […]

Leonard Green Inks Buy of Tank Holdings

Olympus Partners has agreed to sell Tank Holdings Corp. to Leonard Green & Partners. The deal is expected to be completed in third quarter. Financial terms weren’t announced. Tank makes and designs proprietary rotationally-molded polyethylene and steel containers. Gary Matt, Richard Siegel, Hank Johnson and Nick Parks of Barclays advised Tank and Olympus. PRESS RELEASE […]

Leonard Green & Partners Closes Above Target

Leonard Green & Partners has closed its sixth private equity investment fund, Green Equity Investors VI. GEI VI exceeded its original target, closing at its hard cap of $6 billion in limited partner commitments along with $250 million from affiliates of LGP. PRESS RELEASE Leonard Green & Partners, L.P. (“LGP”) today announced the closing of […]

Minnesota Investment Board Pledges $625M To Four Funds

The Minnesota State Board of Investment, which manages $57.5 billion for several state pension funds, has been ramping-up its private equity program during the last several months, pledging $625 million to four funds at its most recent meeting.

Prospect Acquires Nix Health

Prospect Medical Holdings has acquired Nix Health Care System, a company that offers San Antonio and the surrounding communities a vast array of medical services ranging from primary care and surgical services to behavioral and rehabilitation services. Prospect Medical Holdings is a healthcare services company headquartered in Los Angeles and backed by private equity firm […]

Ares Offers $1.55B for 99 Cents Only Stores

Ares Capital has offered $1.55 billion for 99 Cents Only Stores, topping a $1.41 billion offer reportedly made by Leonard Green & Partners, Reuters reported, citing the New York Post. Ares reportedly offered $22 a share for the company. Shares of 99 Cents closed at $20.05 Thursday.

BJ’s OKs CVC, Green LBO

(Reuters) – BJ’s Wholesale Club Inc said shareholders approved its takeover by private equity firm Leonard Green & Partners and funds advised by CVC Capital Partners in a deal worth $2.8 billion. Holders of about 72 percent of the company’s stock voted in favor of the deal while holders of less than a percent of […]

J Crew Settles Post-LBO Suit for $16M

(Reuters) – Investors agreed to a $16 million settlement of lawsuits stemming from the buyout of clothing retailer J Crew Group Inc by two private equity groups, according to an investor attorney. The settlement is based on an earlier $10 million agreement that collapsed in January, according to Stuart Grant of Grant & Eisenhofer PA, […]

Footing The Bill: First-Half Sponsor Fees By Industry, Deal Size

Three industries saw payments by financial sponsors to investment banks more than double during the first six months of this year, compared to the same period in 2010, according to global data from Freeman & Co. analyzed by sister magazine Buyouts in its August 1 edition. The Energy, power & commodities industry is the leader, based on […]

Liz Claiborne In Talks to Sell Mexx Brand

Liz Claiborne Inc. is in talks with private equity firms to sell its Mexx brand, Reuters reported, citing Bloomberg. Leonard Green & Partners, Sun Capital and Golden Gate Capital are among the firms exploring the sale. According to Bloomberg, the Mexx business fetch about $100 million.

Leonard Green, CVC Sign $2.8B Deal for BJ’s Wholesale

Leonard Green & Partners and funds advised by CVC Capital Partners have signed an all-cash deal to buy BJ’s Wholesale Club for $2.8 billion. BJ’s shareholders will receive $51.25 per share, representing a 7% premium to the closing price of BJ’s shares on June 28. Morgan Stanley acted as financial advisor to BJ’s. Deutsche Bank Securities, Citigroup Global Markets, Barclays Capital and Jefferies & Company, acted as financial advisors, and – in addition to General Electric Capital and Wells Fargo Capital Finance – provided fully committed financing to CVC and LGP.

Leonard Green, CVC Team Up for BJ’s Bid

Buyout shops Leonard Green & Partners and CVC Capital Partners have teamed up to bid on club retailer BJ’s Wholesale Club Inc., Reuters reported. Leonard Green, which owns a 9.3% stake in BJ’s, and CVC plan to form a new entity to acquire BJ’s shares, Reuters said.

Leonard Green, CVC May Move on BJ’s Club

Buyout shops Leonard Green and CVC Capital Partners may make a move for wholesale retailer BJ’s Wholesale Club Inc., Reuters reported, citing the New York Post. The deal could be valued at roughly $2.8 billion, the Post reported, adding that rival suitors Apollo Global Management and Bain Capital had pulled out of the race.

Apollo Bids on BJ’s Wholesale Club

Apollo Management submitted a more than $3 billion buyout bid for BJ’s Wholesale Club Inc., Reuters reported, citing a report by the New York Post. Last month, Leonard Green & Partners was reportedly mulling a sale of the retailer. BJ’s decided to explore a sale earlier this year, and hired Morgan Stanley & Co. to advise in the process.

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