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Midwest Firm Grabs $100M Waud of Capital –

20 years ago

Waud Capital Partners, L.L.C. this month held a final closing for Waud Capital Partners, L.P., the firm’s debut buyout fund, that rounded up a total of $100 million in commitments. According to David Posner, a Waud director who recently joined the firm, the final closing followed a series of rolling closes that occurred earlier this […]

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Buyouts Become Riskier, As Liability Increases –

20 years ago

Clayton, Dubilier & Rice did many of the right things, even in hindsight, when it acquired gun manufacturer Sporting Goods Properties (formerly known as Remington Arms Co.) in 1993 in a $300 million buyout. However, the buyout firm did not anticipate that its portfolio company would be swept up in a cause against gun manufacturers, […]

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Blackstone, Lipson Face $2.8M FTC Fine Over Graveyard Deal –

20 years ago

In an unprecedented move, the Federal Trade Commission (FTC) is holding a buyout professional personally liable for failing to comply with an antitrust regulation, sending a message to private equity firms that the FTC will go after individual executives if a firm is found in violation of filing procedures. Howard Lipson, a senior managing director […]

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Langone Eyes Close For Debut Vehicle –

20 years ago

Ken Langone, a co-founder of Home Depot, has scheduled a final close next month for his debut private equity fund, that could wrap the effort at $500 million. Although the $500 million tally would be considered successful in relation to other first-time fund raisings, Mr. Langone may have harbored higher aspirations. Sources who have met […]

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Carlyle Group Holds First Close for Asia Fund –

20 years ago

The Carlyle Group in late March held a first close on $450 million for Carlyle Asia Partners, L.P. The firm is one of five buyout groups-including Chase Capital Partners, H&Q Asia Pacific, Newbridge Asia and Prime Enterprises-that have been out in the last nine months raising midsize funds for investments in Asia. With the possible […]

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Hicks Muse Wires $250M into RCN Corp. –

20 years ago

Following the trend of buyout firms diversifying their repertoire with public-market strategies, Hicks, Muse, Tate & Furst Inc. last month bought $250 million in senior convertible preferred stock of communications provider RCN Corp. The equity commitment has been buttressed by a $1 billion bank loan arranged by Chase Securities Inc. Hicks Muse’s most recent move […]

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IT Company Backed By Berkshire, BancBoston –

20 years ago

Berkshire Partners and BancBoston Capital last month agreed to back a former Cendant Corp. executive to make acquisitions in the business-to-business information management industry. The two Boston-based private equity firms jointly will commit as much as $125 million to Paul Walsh, head of the newly-formed iDeal Partners, who will build information services platforms. Mr. Walsh […]

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Vestar Capital Launches Into $155M PPM Play –

20 years ago

Marking its foray into the beleaguered physician practice management niche, Vestar Capital Partners last month agreed to lead a $155 million investment in Sheridan Healthcare Inc. that will take the publicly traded Hollywood, Fla.-based company private. The terms of the deal call for Vestar, alongside Sheridan management, to make a tender offer of $9.25 per […]

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Nassau Teams with VCs To Buy Health Care Co. –

20 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 –

20 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 –

20 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 –

20 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 –

20 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 –

20 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 –

20 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 –

20 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 –

20 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 –

20 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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