MacroGenics debuted its IPO on Thursday. The company has raised $80 million for its IPO, pricing 5 million shares of its common stock at $16 per share. The stock is trading on the NASDAQ under the ticker symbol "MGNX." BofA Merrill Lynch and Leerink Swann are lead underwriters. Headquartered in Rockville, Maryland, MacroGenics is a biopharmaceutical company focused on treating cancer and autoimmune diseases. It is backed by TPG Capital, Alta Partners, InterWest Partners, MPM Capital, Caisse de dépôt et placement du Québec and Ventures West.
Five buyout firms are expected to bid next week for a stake in Deutsche Telekom's online classified advertising business Scout24, valuing the equity and debt of the whole unit at $2.2-2.3 billion, three sources told Reuters.
Warburg Pincus-controlled oil and natural gas company Antero Resources Corp will go public on Thursday with a valuation of over $11 billion, after the company priced its upsized initial public offering above its indicated range, writes Reuters. Strong demand for the company's shares highlights investor appetite for companies in a sector with vast reserves of natural gas and oil unlocked from underground shale deposits that are driving an energy renaissance in the United States, writes Reuters.
KKR has signed a definitive agreement to acquire The Crosby Group and Acco Material Handling Solutions from Melrose Industries for approximately $1 billion. Crosby is a global provider of highly engineered solutions for lifting and rigging applications across the oil and gas, construction, mining and industrial sectors. Acco, headquartered in York, Pennsylvania, has 130 employees and provides custom-built specialty material handling equipment, including a full line of hoists, industrial cranes, monorails, carts and trailers that are sold under the well-recognized Louden, Wright and Nutting brands.
KKR has invested approximately RM642 million (US$200 million) for a substantial minority equity stake in Weststar Aviation Services. This will be KKR's first investment in Malaysia. Additional terms of the transaction were not disclosed.
MAACO Franchising Inc, a business affiliate of Charlotte, N.C.-based Driven Brands Inc, has purchased the master franchisor rights for the MAACO car care center brand in Canada. The transaction, the financial terms of which were not published, will allow MAACO Franchising to rapidly expand in Canada. Driven Brands, a franchisor in the automotive aftermarket services industry, was acquired by U.S. private equity firm Harvest Partners from Carousel Capital in December 2011.
Apax Partners said Wednesday that it has agreed to acquire Rhiag-Inter Auto Parts Italia S.p.A. No financial terms were disclosed. The transaction is expected to close before the end of 2013. Fineurop Soditic advised Apax in the deal while Mediobanca and Goldman Sachs served as financial advisors to Rhiag. BNP Paribas and Credit Suisse will provide financing for the transaction. Rhiag is an Italian auto parts maker.
Revered buyout pro Tully Friedman, chairman and CEO of Friedman Fleischer & Lowe, gives his perspective on the private equity business at Thomson Reuters' Buyouts West 2013 conference. Friedman has more than 35 years of experience in finance and 25 years as a private equity investor. Prior to forming FFL, Friedman co-founded and served as one of two managing general partners of Hellman & Friedman.
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Video date: Oct. 9, 2013
Business Secretary Vince Cable said on Wednesday the British government estimated it had received more than 700,000 applications for shares in Royal Mail, reflecting huge demand for the country's largest privatisation in decade, Reuters reported.
Jonathan Coslet, Senior Partner and Chief Investment Officer of TPG Capital, delivers a keynote address at Thomson Reuters' PartnerConnect West 2013 in Half Moon Bay, Calif.
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He is interviewed Jeffrey Goldfarb, U.S. editor of Reuters Breakingviews.
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Video date: Oct. 9, 2013