Posted on: January 10, 2012 by Luisa Beltran
There is some deal news today.
WebMD has called off the auction to sell itself. WebMD’s special committee has ended discussions “with potential acquirers and its process to review a potential sale of the Company,” the healthcare information provider said in a statement Tuesday.
In November, WebMD hired Credit Suisse to advise on the sale, according to press reports. WebMD was in talks with four PE firms, including Kohlberg Kravis Roberts & Co LP and Providence Equity Partners, by December, according to my coworkers at Reuters. It’s unclear why WebMD called off the talks.
Posted on: February 18, 2011 by Luisa Beltran
The dividend train just keeps on rolling.
Earlier this week, Dave & Buster’s announced it planned to sell some senior notes and use the $100 million in proceeds to pay a dividend to its sponsor Oak Hill Capital Partners. The payout comes less than a year after Oak Hill acquired Dave & Buster’s from Wellspring Capital Management. The deal was valued at $570 million.
At first glance, the $100 million may not seem very spectacular. In fact, it looks kind of puny. But consider this. Oak Hill put in about $300 million equity to acquire Dave & Buster’s last year, a PE source says. This means, they’ve already made back one-third of their investment. And Oak Hill has only owned the company for about nine months.
Posted on: December 15, 2010 by Jonathan Marino
John Malfettone quietly departed Oak Hill Capital Management after a six-year stint and Jon Zagrodzky, a relative newcomer to the fund, has stepped into roles that were previously occupied by him, peHub has learned. Malfettone joined Oak Hill in 2004 and served as a partner, chief operating office and chief compliance officer with the firm. [...]
Posted on: November 3, 2010 by cnolan
Private equity firm Wellspring Capital Management has raised $1.2 billion for its fifth fund, Wellspring Capital Partners V LP. The new fund, which is the firm’s largest to date, will focus on middle market investments and buyout deals ranging from $50 million to $2 billion. Wellspring Capital is based in New York and has more than $3 billion under management.
Posted on: June 4, 2010 by PEHub Administrator
Wellspring Capital Management has agreed to acquire OMNI Energy Services Corp. (Nasdaq: OMNI), a Carencro, La.-based provider of services and seismic services to the domestic oil and gas industry. The deal is valued at $122 million, including the assumption of debt, or $2.75 per outstanding share.
Posted on: May 3, 2010 by PEHub Administrator
[UPDATE: The deal has been formally announced. Press release follows story] PHILADELPHIA (Reuters) – Oak Hill Capital Partners plans to acquire Dave & Buster’s Inc for $570 million from Wellspring Capital Management, according to The Wall Street Journal.The chain, which combines restaurants with video games arcades, had been taken private in 2006 by Wellspring for about [...]
Posted on: April 20, 2010 by Dan Primack
Wellspring Capital Management continues to struggle in its efforts to raise a fifth fund, according to a recent regulatory filing.
The New York-based buyout firm has secured around $330 million in new commitments over the past year, bringing it to just over $490 million in total. This is compared to an original plan to raise upwards of $1.5 billion, which later was revised downward to $1.3 billion. [Update: We're told that Wellspring has closer to $600m total when overseas commitments are included, and that the $1.3b figure is a hard cap]
Posted on: September 18, 2009 by PEHub Administrator
TA Associates has agreed to acquire Vatterott Educational Centers Inc. from Wellspring Capital Management. No financial terms were disclosed. Vatterott is a St. Louis-based provider of career-oriented post-secondary education, with 22 U.S. campuses.
Posted on: August 20, 2009 by Erin Griffith
Earlier this week trade publication Supermarket News reported that the auction for Virginia-based supermarket Ukrop’s Super Markets may go to a private equity bidder. Strategic bidders Harris Teeter, Delhaize Group, and Ahold had been outbid by a buyout firm, the publication reported. The company was first reported to be on the block in July. Goldman [...]
Posted on: April 20, 2009 by PEHub Administrator
Wellspring Capital Management has secured $163.1 million in LP commitments for its fifth fund, according to a regulatory filing. The New York-based private equity firm is targeting $1.5 billion, and is using Credit Suisse as a placement agent. www.wellspringcapital.com