Private equity pros should start seeing some new faces at investment banks. Peter J. Solomon Co. is looking to hire senior bankers and recently added Mark Boidman and Brad Weinberg.
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Danish outsourcing firm ISS has refinanced and amended and extended its debt pile to pave the way for a potential IPO, writes Reuters. Goldman Sachs, Deutsche Bank, Nordea and UBS were advising on the A&E as well as on the refinancing.
Private equity executives may not be all that happy with President Obama’s reelection but his win does provide one thing: predictability. “We know what to expect, what is going to be for the next couple years,” says Spencer Hoffman, an MD at Lovell Minnick Partners, at the Financial Services M&A Symposium.
Formula One is in the market with a $2.3 bln recap and expects to pay about $1.1 billion in dividends
Private equity firm Carlyle Group filed with US regulators to add 18 underwriters to the list of managers of its proposed initial public offering, writes Reuters. The company added Barclays Capital, Goldman Sachs, Morgan Stanley, Deutsche Bank, BoFA Merrill Lynch, UBS and 12 others to its underwriters for the IPO. Reuters – Private equity firm [...]
MMI International, a technology company owned by KKR, is planning a rare $300 million high-yield bond to refinance a buyout loan, writes Reuters. Singapore-based MMI, which makes parts for hard disk drives said it had appointed Credit Suisse, JP Morgan Chase and UBS as lead banks for the five-year bond. Reuters – MMI International, a [...]
Swedish private equity firm EQT has hired UBS to advise on the sale of Finnish toilet and bath maker Sanitec, a deal that could fetch around one billion euros, writes Reuters. Sanitec could attract interest from other private equity owned bathroom products groups and trade rivals, including Ideal Standard, Grohe, Jacuzzi and Spain’s Roca, writes [...]
Arle Capital Partners said Monday that they had agreed to sell Capital Safety Group to KKR in a deal valued at $1.12 billion. The transaction is expected to close in January. The sale represents an ROI of 2.7x for Arle. Capital Safety makes safety equipment to protect against falls. Arle is the former buyout arm of Candover Investments. Christian Hess and James Simpson of UBS advised on the sale.
(Reuters) – UBS AG said it plans to stick with its market-leading private equity placement group, which helps raise money for some of the world’s largest private equity firms, despite circling rivals eyeing a chance to pick off the group and its team.