News and Analysis

When the Home Depot Supply buyout was reworked earlier this month, numerous press reports discussed how the resolution would serve as a model for other hung transactions. Then I read the same thing earlier this week, when KKR made some minor concessions on the leverage terms for its pending buyout of First Data. So does […]
United BioSource Corp., a Bethesda, Md.-based provider of evidence-based services and information to the pharma and life sciences markets, has acquired an ownership interest in ClinResearch GmbH, a Cologne, Germany-based provider of technology solutions and services for clinical trials. No additional information was disclosed. United BioSource has raised $153 million in private equity funding from […]
Aptuit Inc., a Greenwich, Conn.-based provider of streamlining and support services for drug developers, has agreed to acquire the chemical development business of Evotec AG (Frankfurt: EVT). The deal is valued at approximately EUR46.4 million in cash, and includes Evotec's capabilities in process R&D, custom preparation, analytical development, pilot plant manufacturing and formulation. Aptuit said […]
Gennum Corp. (TSX: GND) has agreed to sell its hearing instrument products and manufacturing operations to Sound Design Technologies Ltd., a portfolio company of Gores Equity. The deal is valued at Cnd$14 million in cash, plus another Cdn$1.3 million in possible milestone payments. Genuity Capital Markets advised Gennum on the transaction.
Each month, I put together a “Six Degrees of Separation” feature for Buyouts Magazine. It typically connects a private equiteer with some celebrity who has a similar-sounding name. It’s the kind of seminal work that keeps Economist HR folks on speed dial. Anyway, yesterday I mentioned to Buyouts editor David Toll that there was a […]
Network Communications Inc., a Lawrenceville, Ga.
In promoting their firms, buyout pros often point to a troop of hard-bitten executives that can parachute into portfolio companies to perform miracles. These may be full-time operating partners, part-time special advisors, or consultants waiting in the wings. Six sigma this, outsource that, acquire a major rival—these executives deliver advice that can give a powerful […]
In the weeks following Rupert Murdoch’s bid for Dow Jones, I got asked a few dozen times if a private equity firm would step in to play white knight. “No,” I replied, because of the dizzying price point. Moreover, private equity firms are best when buying a strong product that has been underperforming due to […]
Ari Nathanson is leaving Buyouts Magazine at week’s end, which causes all sorts of “going-away party” problems, as he doesn’t drink. But at least he’s going out with a strong portfolio, like a new story (sub req.) about how private equity firms own half of all U.S. companies that have defaulted on their debt in […]
Author Solutions (a.k.a. AuthorHouse), a Bloomington, Ind.-based self-publishing company, has acquired rival iUniverse for an undisclosed amount. Author Solutions is a portfolio company of Bertram Capital. iUniverse had raised over $39 million in VC funding from firms like Warburg Pincus, including a 2001 infusion at a post-money valuation of approximately $131 million (Warburg later sold […]

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