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Nassau Teams with VCs To Buy Health Care Co. –

19 years ago

Nassau Capital teamed with two early-stage venture capital firms last month to complete a leveraged recapitalization of CompHealth, a medical staffing company. Former parent company HEALTHSOUTH Corp., which trades on the New York Stock Exchange, maintained a 15% stake in CompHealth, with the remaining equity interest divided equally between Nassau Capital, Acacia Venture Partners and […]

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Saunders Karp Welds Metal Parts Company –

19 years ago

Acting on a trend toward consolidation in the manufactured component outsourcing niche, Saunders Karp & Megrue is aggressively building a metal parts platform and plans on acquiring four to six companies a year until revenue reaches $1 billion. Last month, the firm’s Precision Partners acquired three new metal parts companies, bringing the roll-up total to […]

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CM Equity Closes Insurance, Candy Deals –

19 years ago

CM Equity Partners began the year with a spate of activity, building platforms in the confectionery and insurance services industries. The New York private equity firm last month led a $150 million buyout of EMSI Holdings, a provider of outsourced insurance services such as evidence gathering, paramedical examinations and attendant physician services. As part of […]

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Fox Paine Generates Investment in UAE –

19 years ago

Joining the ranks of buyout firms willing to take minority positions, Fox Paine & Co. last month invested $75 million to acquire a 44% stake in United American Energy Corp. (UAE), an electric power company. In addition to Fox Paine, Duke Energy Power Services LLC, a unit of Duke Energy, raised its equity stake in […]

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Riverside Co. Commits To Retail Boat Platform –

19 years ago

The Riverside Co. last month acquired its second boat retail chain in less than eight months when it bought Link Recreational, a dealer in Wisconsin and Minnesota, for approximately $30 million. Newcourt Financial was the senior lender. In recent years, Link has expanded to nine from one store and has opened service centers in Minnesota […]

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Lazard Capital Recaps Child Care Company –

19 years ago

Lazard Freres & Co. LLC wants to look after your children. The firm’s private equity arm has invested $16 million of equity in a buyout of ChildrenFirst, a company that contracts with large corporations to provide “backup” child care for employees experiencing temporary disruptions in their primary child-care services. The all-equity investment was structured as […]

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Tax Ruling May Harm Buyout Firm Bottom Line –

19 years ago

A recent U.S. Tax Court decision may force buyout firms to absorb a bigger up-front hit on due diligence expenses. In a ruling last month against Davenport Bank & Trust, now part of Wells Fargo & Co., the court decided that any expenses related to due diligence work cannot be written off for the year […]

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VS&A Bolsters Line-Up With Managing Director –

19 years ago

VS&A Communications Partners, the private equity arm of media investment bank Veronis, Suhler & Associates in February hired Martin Maleska, formerly of Simon & Schuster, as an advisory managing director. The publishing executive and former Veronis Suhler banker joined the firm Feb. 22 for the express purpose of managing the seven print divisions of Pearson […]

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Apax Fund Raising Breaks Record at euro 2.1 Billion –

19 years ago

Apax Partners last month successfully concluded fund raising for its first pan-European vehicle, Apax Europe IV, closing the fund at euro 1.8 billion ($1.932 billion). Simultaneously, the group announced a final close on Apax France V at euro 300 million ($322.5 million). The first euro-denominated private equity vehicle, Apax Europe IV ranks as the largest […]

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Texas Growth Fund Adds Partner to Help Vet Deals –

19 years ago

TGF Management Group, the private equity group that invests only in Texas and has only Texas-based limited partners, has added a fourth partner. Barry Twomey, who most recently served as a principal at Electra Fleming Inc.’s New York offices, began working at the firm last month, according to James Kozlowski, a partner at TGF. Mr. […]

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Electra Rejects 3i Bid, But Will Its Shareholders? –

19 years ago

3i last month responded to Electra Investment Trust’s (EIT) defensive GBP544 million ($881.3 million) buyback plan with a hostile cash and share bid that valued the target at GBP1.25 billion ($2,025 billion). The new offer, which is final and will not be increased unless a rival bidder emerges, valued each EIT share at 725p, compared […]

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Convergent, MSDW Eye Buyouts in Tech Sector –

19 years ago

The technology sector already has been attracting buyout attention, but firms are not necessarily diving into the sector alone. Rather, as private equity shops commit capital to the technology arena, some have begun joining hands with partners that bring operating experience to buttress firms’ financial acumen. Most recently, Morgan Stanley Dean Witter’s private equity group […]

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Madison Dearborn Wraps Fund III at $2.22 Billion –

19 years ago

Madison Dearborn Partners on March 18 held a final close on about $520 million-which included a $100 million commitment from California Public Employees’ Retirement System-to wrap Madison Dearborn Capital Partners III, L.P. at $2.222 billion. The fund raising took about six months to complete, as Madison Dearborn launched the effort in the fall setting a […]

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Heritage Looks to Build Legacy with Third Fund –

19 years ago

Adding to what has already proven to be a robust start to 1999’s fund launches, Boston-based Heritage Partners last month began marketing its third buyout fund, said Michael Gillagan, a Heritage general partner. Heritage Fund III, L.P. will feature a target of $750 million, although it likely will round up more than the stated goal. […]

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HarbourVest Sails On With $2B Fund-of-Funds –

19 years ago

HarbourVest Partners, LLC is marketing its sixth fund-of-funds targeting U.S. investments. The launch is significant because it signals HarbourVest’s further movement away from committing to buyout partnerships and direct deals. If it reaches its $2 billion target, HarbourVest Private Equity Partners VI, L.P. is planning to invest $500 million in larger buyout funds, $250 million […]

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New York City Considers Private Equity Managers –

19 years ago

As the pensions in the New York City system get set to become some of the largest investors in private equity in the next several years, they are considering adding a gatekeeper and an internal professional to help manage their private equity program. The four city pensions that invest in private equity-New York City Teachers’ […]

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AEA Investors Grabs New Partner from CSFB –

19 years ago

Credit Suisse First Boston last month lost John Garcia, one of its top European investment bankers, when he left to join AEA Investors. Mr. Garcia, most recently the head of the global chemicals group and European leveraged finance group based in London, resigned from CSFB to join AEA as a partner in its New York […]

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Gil Lamphere Markets $500 Million Offering –

19 years ago

Gilbert Lamphere, the former co-head of publicly traded buyout firms Prospect Group and Noel Group and most recently managing director at Fremont Partners, is considering launching a new buyout fund that will target more than $500 million. Last year, Mr. Lamphere resigned from San Francisco-based Fremont Partners after a four-year stint because, he said at […]

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