New Mountain Capital Backs AmWINS in $1.3bn Recap

New Mountain Capital is backing Charlotte, N.C -headquartered AmWINS Group, a global distributor of insurance products and services in a growth-oriented recapitalization valued at approximately $1.3 billion. Mid-market private equity firm Parthenon Capital Partners is selling its stake in the business. Other terms of the transaction were not disclosed. PRESS RELEASE AmWINS Group, Inc. (“AmWINS”), […]

SNL Acquires Highline Data

SNL Financial is to acquire Highline Data from Summit Business Media. The acquisition will boost SNL’s position as a leading US insurance financial information provider across the property & casualty, health and life insurance sectors.

Iron Bow Mgmt Buys Out New Mountain Capital

The management of Iron Bow Technologies LLC has acquired a controlling interest in the company from previous owner New Mountain Capital, the company announced Wednesday. New Mountain and other selling shareholders will collectively retain a minority interest in the company. Terms of the deal were not released. Iron Bow has revenues of approximately $800 million.

Top 10 Stories Include Shakeup at Friedman Fleischer & Lowe, McNamee’s Sudden Interest in Seed Deals and Sale of Chicken Joint Bojangles’

Time to catch up on the blog posts and news items that your peers found most interesting on peHUB this week. Following are the top 10 posts that garnered the most pageviews from regular readers from July 25 to July 29. (We did a separate list for the week’s most popular slideshows.) This week’s hot topics include David Lowe leaving the San Francisco buyout shop he co-founded; Elevation’s Roger McNamee announcing plans to get into seed investing; the sale of fried chicken restaurant Bojangles'; and strong interest among buyout shops to buy brokerage Morgan Keegan.
1. Co-Founder Has Left San Fran Firm, by Bernard Vaughan
2. McNamee Promises to Make Seed Investments from Buyout Shop Elevation Partners (subscribers only), by Mark Boslet
3. The Mystery of Bojangles’s New York Store Is Solved, by Luisa Beltran
4. Blackstone, Carlyle Among Bidders for Morgan Keegan, by Paritosh Bansal and Megan Davies, Reuters
5. Dealtalk: Buyout Firms Target Unloved Corporate Divisions, by Simon Meads, Reuters

New Mountain Capital Buys Majority Stake in SNL Financial

New York-based private equity firm New Mountain Capital has acquired a majority stake in SNL Financial, a Charlottesville, Va.-based provider of sector-focused information services on the banking, financial services, insurance, real estate, energy, and media industries. Terms of the deal were not released.

New Mountain Capital Completes Buy of SymphonyIRI

New Mountain Capital has completed its majority investment in SymphonyIRI Group Inc., the company announced Thursday. Terms of the investment were not released. SymphonyIRI Group, formerly named Information Resources, provides software for market measurement and software and services designed to provide growth opportunities in marketing, sales, shopper marketing and category management. Jefferies & Company and BofA Merrill Lynch acted as financial advisors to SymphonyIRI.

New Mountain Finance Corp. Completes $100 Mln IPO

New Mountain Finance Corp. said Wednesday that it has closed its $100 million IPO. The closed-end investment company sold about 7.3 million shares at $13.75 each. Goldman, Sachs & Co., Wells Fargo Securities and Morgan Stanley are joint-lead bookrunners on the deal. Underwriters on the deal have the option to buy another 1.1 million of shares. New Mountain Finance, a BDC, is an affiliate of New Mountain Capital, the New York PE firm.

New Mountain Eyes Supplier To Mars Rover, Stealth Bomber

New Mountain Capital is in talks to buy NuSil Technology LLC, a chemistry company that makes products used in the construction of everything from the Mars Rover to the Hubble Telescope to stealth bombers, according to Buyouts. The seller is Quad-C Management. New Mountain, which typically spends $100 million to $500 million of equity on […]

New Mountain Capital Backs SymphonyIRI

SymphonyIRI Group Inc. has raised an undisclosed amount from New Mountain Capital. Terms of the investment were not released. SymphonyIRI Group, formerly named Information Resources, provides software for market measurement and software and services designed to provide growth opportunities in marketing, sales, shopper marketing and category management. Jefferies & Company and BofA Merrill Lynch acted as financial advisors to SymphonyIRI. BofA Merrill Lynch, Jefferies Finance and BMO Capital Markets have agreed to provide debt financing.

Buyouts Video: Steve Klinsky of New Mountain Capital

President Obama’s efforts to change rules on carried interest are misguided, said Steve Klinsky, founder and chief executive of New Mountain Capital, in a wide-ranging video interview with Reuters Insider and sister magazine Buyouts. The entire 4-minute video can be viewed here.

Carried interest, said Klinsky, is “something very different from salary, something very different from bonus. You take a business, you spend years building value, and if you do in fact sell it at capital gain, you get charged at capital gains rates. That’s what carried interest means.” He said “hopefully people will look at it more fairly and level-headedly.”

Reflecting on the financial crisis, he said private equity got caught up in the rage directed at Wall Street, even though private equity itself had little to do with the crisis itself. “We got caught up in that spirit of revenge,” he said.

Buyout Shops Eye Fortune Brands Break Up

Buyout shops are expected to be all over the Fortune Brands break-up, according to two senior bankers.

Firms that have had Fortune Brands on its radar for some time include The Blackstone Group, Carlyle Group, Kohlberg Kravis Roberts & Co and TPG Capital, said the head of financial sponsors at one bank. “Private equity firms are like hawks,” he said. “They’re motivated by movement, and there’s something happening here that makes this attractive.”

The Deerfield, Ill.-based company announced Dec. 8 that it plans to continue as a pure-play, publicly traded spirits business, while spinning off its home and security business to become an independent, publicly traded company; and selling or spinning off its golf business. The company made the move after pressure from hedge fund investor William Ackman.

Avantor Renames Mallinckrodt To Macron Chemicals

Avantor Performance Materials said Monday that it is renaming its Mallinckrodt chemicals brand line to Macron Chemicals. The name change will be implemented on March 7. New Mountain Capital, a New York PE firm, acquired Phillipsburg, N.J.-baswed Avantor in August from Covidien. Avantor Performance Materials, formerly known as Mallinckrodt Baker, makes high-performance chemistries and materials under the brand names, J.T.Baker and Macron.

PE-backed Avantor Pays $100M For Indian Biotech Firm

Indian private equity fund ICICI Venture sold its stake in biotech company RFCL to U.S.-based Avantor Performance Materials, Reuters reported. Avantor paid roughly $100 million for the 85% stake in RFCL, which develops technology for the pharmaceutical and biotech industries. RFCL is based in New Delhi. Avantor is owned by New York-based private equity firm New Mountain Capital.

Court Square Buys MailSouth from New Mountain Capital

New York-based private equity firm Court Square Capital Partners will acquire direct mail advertising company MailSouth for an undisclosed amount. Helena, Ala.-based MailSouth provides direct mail services in rural and suburban markets. The company was previously backed by New York-based New Mountain Capital.

Mallinckrodt Baker Changes Name to Avantor Performance Materials

Mallinckrodt Baker, which has been bought by New Mountain Capital, has changed its name to Avantor Performance Materials. Phillipsburg, N.J.-based Avantar makes and markets chemicals and materials under the brand names J.T. Baker and Mallinckrodt Chemicals. New Mountain is a New York PE firm.

New Mountain Capital Acquires 50% Stake in Consulting Firm Stroz Friedberg for $115M

Global consulting firm Stroz Friedberg has just raised a $115 million round from the New York-based private equity firm New Mountain Capital, in exchange for a 50% ownership stake. The rest of Stroz Friedberg is owned by Greenhill Capital Partners II LP, Stroz Friedberg’s initial private equity investor, and employees. PRESS RELEASE: Stroz Friedberg’s unsurpassed […]

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