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Thoma Cressey Looks For Roll-Up To Live Again –

19 years ago

For the third time, Thoma Cressey Equity Partners is resurrecting its death-care industry roll-up strategy. The Chicago-based buyout firm has put an initial $35 million behind Meridian Mortuary Group to make acquisitions of funeral homes, according to William Liebeck, a partner at Thoma Cressey. “The industry is a little out of favor right now, and […]

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Onex Corp. Leads Buyouts Totaling $1B –

19 years ago

Onex Corp. in the last several weeks has led two buyouts that have a total value of more than $1 billion, as the group looks to build platforms in new industries. The New York- and Toronto-based firm last month led a $610 million buyout of J.L. French Automotive Castings, a manufacturer of aluminum die-cast automotive […]

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Willis Stein Goes Back To School with Troll Deal –

19 years ago

Willis Stein & Partners in late March acquired Troll Communications, a publisher that sells children’s books through teachers at grade schools, in a $69 million buyout from Torstar Corp. The Chicago-based firm now joins a list of groups that have begun to target the education industry. The line-up includes Bain Capital, GTCR Golder Rauner, J.W. […]

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At Cambria Group, Less Proves to Be More –

19 years ago

The Cambria Group, a Menlo Park, Calif.-based private equity group, is looking for small deals and, if successful at those, will look for more of the same. The firm in late March completed a buyout of DSA/Phototech, a Los Angeles-based manufacturer of illuminated display equipment with sales of less than $10 million. Terms of the […]

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Behrman Capital Lets Condor Systems Fly –

19 years ago

Behrman Capital last month sold its 60% stake in Condor Systems, a defense electronics contractor, to an investor group that included Global Technology Partners and DLJ Merchant Banking Partners for $134 million, said Darryl Behrman, a managing partner at the New York- and San Francisco-based firm. Condor’s auction, which was arranged by investment bank Bowles […]

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Stolberg Passes OffPotato Chip Company –

19 years ago

Stolberg, Meehan & Scano last month sold Cape Cod Potato Chips, a manufacturer of snack foods, to Charlotte, N.C.-based Lance, said Matt Meehan, a partner at the New York- and Denver-based firm. Although terms of the transaction were not disclosed and Mr. Meehan declined to discuss the returns garnered for the firm by the sale, […]

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Poolings’ Demise May Give Firms a Leg Up –

19 years ago

The Financial Accounting Standings Board (FASB) last month took the first step toward eliminating poolings of interest for corporate mergers when it voted to end this method of accounting. The impact of this decision, which has yet to be finalized but may take effect within the year, likely will resonate throughout the buyout industry. According […]

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Electra Buy-Back Wins As Firm Mulls New Fund –

19 years ago

To the considerable surprise of many industry observers, Electra’s defense against 3i’s GBP1.25 billion ($2.025 billion) hostile bid for Electra Investment Trust (EIT) succeeded, albeit by the narrowest of margins. For EIT to retain its independence, 75% of shareholders had to vote for the board’s proposed restructuring plan at the shareholder meeting last month. In […]

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Texas Pacific Co. Files For Chapter 11 Protection –

19 years ago

Texas Pacific Group and InterWest Partners may lose their equity investments in Favorite Brands International, as the company last month filed for Chapter 11 bankruptcy protection. TPG invested about $100 million of equity in the platform, and InterWest and other minority investors committed about $75 million. Sources in the buyout industry see the unfolding story […]

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3i Sets Eyes on U.S., Plans Two New Offices –

19 years ago

As part of a strategy to broaden its global investing, 3i, the largest private equity firm in the U.K., is opening its first U.S. offices. The firm soon will announce the openning of offices in Palo Alto, Calif., and in the Boston area, both of which will focus on the telecommunications and information technology sectors, […]

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Shansby Loses Pro, As Fund III Wraps –

19 years ago

Only weeks before wrapping a $150 million buyout fund, the only principal at The Shansby Group has resigned, leaving partners Gary Shansby and Charles Esserman at the helm and raising questions about the depth of personnel at the firm. Donald Stanners, who had been responsible for sourcing deals, left the firm last month, possibly to […]

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The Problem With 50th Birthdays

19 years ago

The launch of the euro on 1 January this year counts as one of the key landmarks in the history of European integration following the inception of the European Community in 1958 and the single European market in 1993. Few other events have involved such a large transfer of sovereignty from a national to a […]

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Murray Johnstone Private

19 years ago

Equity (MJPE) has further strengthened its presence in the North of England by opening a Leeds office, taking its network of UK offices to six. The new Leeds operation will be headed by Sarah Pullan, director responsible for MJPE’s activities in the North East, who will be supported by members of the existing Sheffield team. […]

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Barclays Private Equity Bolsters German Team

19 years ago

Because of the influx of overseas players that have entered the German private equity market with the intention of building local teams, demand for experienced private equity professionals in Germany currently appears to be outstripping supply, and team building for some groups has been considerably slower than anticipated. Barclays Private Equity, which opened a Munich […]

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Andrea Negri To Head Advent International’s Italian Operations

19 years ago

Advent International has pulled off something of a coup with the appointment of Andrea Negri to spearhead expansion of the firm’s Italian investment activities. Head of National Westminster Bank’s Italian operations since 1992, where he focused particularly on acquisition finance, buyouts and specialised financings, Andrea Negri previously spent 15 years with Continental Bank, where he […]

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UBS Capital Buys Aquarius Group

19 years ago

UBS Capital, the private equity division of UBS AG, in late February paid an undisclosed sum to acquire Aquarius Group of the Netherlands from owner Henk Durckx. WestLB provided debt for the acquisition. Aquarius, which is the world’s leading manufacturer of machinery for the production of lollipops and sugar cubes, in 1998 made sales totalling […]

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Advent Closes UK’s Largest Tech Fund on GBP100 Million

19 years ago

Veteran UK venture capital house Advent Limited in March announced the final closing of Advent Private Equity Fund II (APEF II) at its GBP100 million (euro 151 million) maximum subscription level, albeit some months behind schedule. APEF II ranks as the largest technology-focused pure venture fund raised to date in the UK and its LP […]

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