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From LBO to LBO-to-IPO, WESCO Finds Its Strength –

19 years ago

When a group of investors led by The Cypress Group took WESCO International Inc. public on May 12, Charles Ames looked on with a mixture of pride and envy. As a partner at Clayton, Dubilier & Rice, Mr. Ames was at the helm of the WESCO deal from the initial discussions in 1993 to the […]

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Summit Partners Sees Good Signs in $172M Deal –

19 years ago

Hoping to be to signs what Dell Computer Corp. is to computers, Summit Partners in April acquired a majority stake in EMED Co., a maker and direct marketer of signs and related products, for a total transaction value of $172 million. BancBoston Capital provided $110 in senior debt for the deal. Summit partners paid $36 […]

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Pfingsten Pursues Publishing Companies –

19 years ago

Pfingsten Partners made its first add-on to its publishing platform last month with the acquisition of Commerce Publishing Co., a trade publications company based in St. Louis, Missouri. Commerce was acquired by Pfingsten Partners’ Pfingsten Publishing, a platform created last April shortly after the Deerfield, Illinois buyout firm held a final close on $100 million […]

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Forstmann Little Plans To Land Gulfstream –

19 years ago

Forstmann Little & Co. is planning to end its nine-year flight with Gulfstream Aerospace Corp. after the firm merges its remaining 23% stake in the company with General Dynamics Corp. Gulfstream this month announced it would be acquired in a stock-swap with General Dynamics, a defense manufacturer. The deal, should it close, would value Gulfstream’s […]

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Hicks Muse Pro Joins Former Partner at Weisel –

19 years ago

Hicks, Muse, Tate & Furst Inc. last month suffered the loss of another investment professional as Principal Dan Dross left to become a partner this month in Thomas Weisel Partners’ private equity group. The move by Mr. Dross comes on the heels of the departures of Principal Jeff Fronterhouse, who in March spun out to […]

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Denmark TrollsFor Foreign Holding Cos. –

19 years ago

Denmark and Delaware have more in common than meets the eye-in addition to being small, flat and topographically unimposing, both want to be places where businesses come to incorporate. In particular, Danish legislators have created new tax laws, which came into effect at the beginning of this year, that they hope will attract foreign holding […]

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Duke Street LaunchesFirst Independent Fund –

19 years ago

Duke Street Capital has scheduled a first closing for next month for its fourth European buyout fund. Following last year’s buyout from Hambros Group, the group, formerly HEV, aims to raise at least euro 500 million ($530 million) for Duke Street Capital IV in its first fund raising as an independent group. Duke Street, headed […]

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Close Brings NatWest Into Billion-Plus Club –

19 years ago

NatWest Equity Partners (NWEP) late last month closed its first external equity fund at GBP1 billion ($1.6 billion), substantially more than the group’s original target. When NWEP launched its European Private Equity Fund in late 1997, the managers hoped to bring in approximately GBP350 million ($560 million) from new third-party sources, to be matched by […]

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Mercury Private Equity Enters German Market –

19 years ago

Following the path already beaten by many U.K. groups in search of a piece of the private equity action in Europe’s largest economy, London-based Mercury Private Equity this month opened offices in Frankfurt, Germany. Simultaneously, the group dropped its somewhat cumbersome Mercury Asset Management Private Equity tag in favor of the snappier Mercury Private Equity […]

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Carlyle Group Takes German Co. Private –

19 years ago

The Carlyle Group is conducting a public tender offer of a German company-a deal Carlyle views as expensive but necessary to help establish the Washington, D.C. firm as a benign presence in the European business community. Carlyle in March invested euro 60.4 million in the buyout of Honsel-Werke A.G., which gives the firm a 72% […]

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ABS Capital Partners HIts Final Close for $427M –

19 years ago

After almost a year of fund raising, ABS Capital Partners last month held a final closing on its third buyout fund that rounded up a total of $427 million. When the fund was launched last summer, it sported a target of $400 million. The fund will focus on buyouts and growth financings in computer services, […]

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GE Capital Exec Markets Debut Hybrid Vehicle –

19 years ago

The former head of GE Capital’s merchant banking unit, John Hatherly, this month began readying his own $250 million buyout fund with the support of Bain Capital. Mr. Hatherly has formed Wynnchurch Capital Ltd. to launch Wynnchurch Capital Partners, L.P. with Partner Jon Tomes, the former director of GE Capital’s merchant banking group on the […]

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Thomas H. Lee Credits Metris for Strong Returns –

19 years ago

Thomas H. Lee Co. went against the grain last December when it made a $300 million equity investment to acquire a 29% stake in Metris Cos., a credit card provider for low-income people. The move is part of a larger trend of private equity firms acquiring minority stakes in public companies. The theory is that […]

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Loud Leaves Florida To Start Fund-of-Funds –

19 years ago

Irwin Loud, portfolio manager for private equity at Florida’s $83 billion state pension, left his post May 14 to launch a $300 million fund-of-funds that will commit capital to private equity firms that have origins in or ties to family offices and alongside direct investments by families. Mr. Loud’s resignation leaves a gap at Florida […]

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Vertical Networks Adds $30M Fourth Round

19 years ago

Vertical Networks of Sunnyvale, Calif., earlier this month raised $30 million from six investors in what is likely the final round of venture financing before entering the public markets sometime in the latter half of 2000. Technology Crossover Ventures of Palo Alto, Calif., led the round, which was placed by BancBoston Robertson Stephens. Additional first-time […]

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AnyDay Books $8M from Two Venture Firms

19 years ago

AnyDay.com, a Cambridge, Mass.-based developer of online dayplanners and event directories, raised $8 million May 18 in its first round of venture financing. Softbank Technology Ventures of Newton Center, Mass., and Carlyle Venture Partners of Washington, D.C., co-led the transaction in the 1-year-old company, said Arthur Gehring, director of marketing at AnyDay. The management team […]

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The Cassandra Group Invests in Paradise

19 years ago

Paradise Music & Entertainment Inc. will receive $8 million from New York-based The Cassandra Group Inc. “After some recent acquisitions, we were in the position where we needed capital,” said Chief Executive Jessie Dylan. “We felt we were undercapitalized for the goals we were trying to achieve.” Los Angeles-based Paradise is a diversified music and […]

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BuyersZone.com Targets Small Businesses

19 years ago

Seeking to fill the void in purchasing efficiency for small businesses, BuyersZone.com of Watertown, Mass., garnered $6.5 million two weeks ago in its first round of venture funding. Commonwealth Capital Ventures of Wellesley, Mass., led the financing. Other investors included BancBoston Ventures, OneLiberty Ventures and Women’s Growth Capital Fund. “As a women-focused fund, [Women’s Growth] […]

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