Australian surfwear company Billabong International, which had potential buyers withdraw takeover offers last month, said one of its directors wanted to investigate a possible leveraged buyout of the firm, writes Reuters. Private equity firms TPG and Bain Capital withdrew from $700 million bids for the struggling retailer, according to Reuters.
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Hurricane Sandy is expected to cause about $20 billion in property damage so an insurance deal seems appropriate. Goldman Sachs Capital Partners is selling USI Holdings, an insurance broker, sources say. The auction started after Labor Day; Goldman Sachs is advising on the process, the persons say.
Petco Holdings is paying out another dividend to its shareholders, which include Leonard Green & Partners and TPG. San Diego-based Petco is raising $550 million in secured PIK notes, according to an Oct. 4 report from Standard & Poor’s. Petco plans to use the proceeds, plus roughly $75 million in cash, to pay out a roughly $603 million dividend to shareholders, S&P says.
Laboratory Corporation of America Holdings said Wednesday that it has “no knowledge” pf plans by private equity firms to take over the company via an LBO. LabCorp said in a statement that it is not in current discussions with any firms. LabCorp is responding to a Mergermarket report that says a PE consortium plans to [...]
Fresenius Kabi, a provider of infusion therapy and clinical nutrition is to acquire Fenwal, a specialist in separation technologies for blood and cell collection and therapy. Fenwal is owned by TPG and is based in Lake Zurich, Illinois. PRESS RELEASE Fresenius Kabi, a leading provider of infusion therapy and clinical nutrition, and Fenwal Inc. a [...]
The European Private Equity and Venture Capital Association has appointed Vincenzo Morelli as its chairman for the year to June 2013. Morelli is partner emeritus and senior advisor to global investment firm TPG. PRESS RELEASE The General Assembly of the European Private Equity and Venture Capital Association (EVCA) today elected Vincenzo Morelli, Partner Emeritus and [...]
TPG Growth, the middle market and growth equity investment platform of TPG, has acquried iMDsoft. Financial terms weren’t disclosed. iMDsoft provides clinical information systems. PRESS RELEASE iMDsoft, a worldwide leader in high acuity clinical information systems, today announced it has been acquired by TPG Growth, the middle market and growth equity investment platform of TPG, [...]