Arsenal Capital Partners is sponsoring the formation of KGS-Alpha Capital Markets, an institutional fixed income broker-dealer, focusing on mortgage-backed, asset-backed and agency debt securities. The New York-based company begins with around $100 million in equity capital, and is being led by former Salomon Brothers/Citigroup pros Levent Kahraman and Dan Goldman.
HONG KONG/MANILA (Reuters) – Philippine conglomerate San Miguel Corp (SMC.PS) effectively scrapped a planned minority stake sale in its unit San Miguel Pure Foods Co Inc (PF.PS) after talks with bidders hit a deadlock over the amount of shares being sold. The sale of a 100 percent stake in Pure Foods, with a market value […]
(Reuters) – Private Equity firm Avista Capital Partners and Ontario Teachers’ Pension Plan have agreed to buy INC Research Inc, a drug development services provider, for about $600 million, Bloomberg said. The deal may be announced as soon as tomorrow, a person with direct knowledge to the matter told Bloomberg. INC Research provides a […]
Leonard Green & Partners has agreed to purchase Aspen Dental from Ares Management for around $500 million, peHUB has learned. The deal is expected to close shortly. Aspen Dental specializes in dentures but also provides dental services, like checkups and filings, to customers. It has 240 locations spread through 20 states, with headquarters in Syracuse, New York.
Summer Street Capital Partners has acquired an equity stake in Action Environmental Services, a provider of waste management services for New York City businesses. No financial terms were disclosed for the deal, which will help AES purchase select New York City assets from Republic Services, Inc. (NYSE: RSG). PRESS RELEASE Summer Street Capital Partners LLC […]
(Reuters) – Investment fund Advent International could invest some $49 million into Mexico‘s Mexicana de Aviacion to keep the airline flying, local media and a union said on Wednesday. Pilots from Mexicana de Aviacion reached a preliminary deal this week that calls for wage cuts and staff reduction in a desperate bid to keep the […]
Private equity firms are notorious for shrouding their acquisitions in secrecy, regularly refusing to disclose purchase prices. But credit rating agencies sometimes are more forthcoming. Earlier this month, GI Partners sponsored a management buyout of Softlayer Technologies, a Dallas-based provider of on-demand data center services. No other information, except why GI felt it made a sparkling addition to its portfolio. Yesterday, however, Moody's Investors Service reported that GI and other "private equity investors" acquired more than 70% of SoftLayer at a $500 million enterprise value. Company management will hold the remainder. The buyers also increased the amount of equity they are investing to $250 million, up from the initial $195 million. The deal for Softlayer also reduces a term loan from $190 million to $150 million and eliminates both a $20 million revolving credit loan and a $20 million delayed draw term loan.
(Reuters) – Ireland’s EBS Building Society [EBSBS.UL] will receive bids from private equity groups and bancassurer Irish Life & Permanent (IPM.I)(IPM.L) in the next few days, sources familiar with the process told Reuters on Wednesday. The state-run building society has set a deadline of Aug. 20 for offers and one source said three private equity […]
Heartland Dental Care Inc., an Effingham, Ill.-based chain of affiliated dental practices, last quarter acquired nine practices and opened three new facilities, bringing its total number of practices to 263. Code Hennessey & Simmons acquired an undisclosed stake in Heartland Dental in 2008.
Marlin Equity Partners has agreed to acquire Phoenix Technologies Ltd. (Nasdaq: PTEC), a maker of core systems software. The $3.85 per share deal values Phoenix at around $139 million, and represents a 27% premium to yesterday's closing price.