News and Analysis

Morgan Stanley Private Equity has formed a strategic partnership with Bill Mitchell, former chairman and CEO of Arrow Electronics, to form an IT services provider focused on serving small and medium sized businesses (SMBs). The new platform will be created via investments and/or acquisitions.
MELBOURNE (Reuters) – Australian private hospital operator Healthscope Ltd (HSP.AX) on Monday said it would let its private equity suitors review its books over the next several weeks as they look to seal a $1.5 billion offer for the group.  Healthscope advised shareholders take no action on the offer of A$5.75 a share from TPG […]
TOKYO (Reuters) – TPG Capital and Advantage Partners are among the bidders left in the competition to buy Anabuki Construction Inc, a Japanese apartment developer that failed last year with about $1.6 billion in debt, two sources with knowledge of the deal said. Anabuki, based on the southern Japanese island of Shikoku, announced in February […]
NEW YORK (Reuters) – Private equity firm Blackstone Group LP (BX.N) is considering investing $500 million alongside a group that has offered to help General Growth Properties Inc (GGP.N) exit bankruptcy protection, a source familiar with the matter said on Friday. Brookfield Asset Management Inc (BAMa.TO), William Ackman’s Pershing Square Capital Management and Fairholme Capital […]
Affinion Group Holdings Inc., a Norwalk, Conn.-based provider of integrated marketing and loyalty solutions, has filed for a $400 million IPO. No underwriters were listed. The company reports $1.38 billion in revenue and a $66.4 million net loss for 2009, compared to $1.41 billion in revenue and a $134.5 million net loss in 2008. Apollo Management acquired […]
FRANKFURT (Reuters) – Billionaire Nicolas Berggruen has made an offer to buy insolvent department store chain Karstadt a week before an extended deadline for bids runs out, A spokesman for the investor said on Friday. Until Berggruen’s offer, European buyout firm Triton was the only bidder to emerge. Berggruen Holdings is a private equity firm […]
NEW YORK (Reuters) – Goldman Sachs Group Inc’s (GS.N) private equity unit is to buy food supplier Michael Foods from private equity firm Thomas H. Lee Partners THL.UL in a deal valued at $1.7 billion, Michael Foods said in a press release on Friday. THL, which invested in the eggs and refrigerated potatoes supplier in […]
The stock market has never gotten along with politics particularly well, and this week it's been really cranky. The DJIA and S&P 500 both dropped 10% from their highs, fulfilling the definition of an official correction. The markets haven't been this spooked since the early days of 2009, when there was widespread fear that banks would be nationalized. Those concerns now seem quaint by comparison. The euro is fighting for its life and upending European markets. The U.S. equity markets were kicked in the stomach by the flash crash of May 6, which seemed to end a six-month-long long bull rally. Wall Street reform legislation will drag on until July 4, as the House and Senate try to reconcile their bills. Even if no more crises happen after that, the summer slowdown will kick in. What does all of this mean? Well, we likely won't see very many private equity-backed companies coming to market until at least September, unless they're strong enough to weather volatile markets. Conventional wisdom would dictate that money managers may be wary of buying new shares of newly floated companies while they're trying to manage the massacre in their existing holdings. Six companies already have postponed or withdrawn their IPOs just since the flash crash.
The Harvard Drug Group, has acquired Spectrum Pharmacy Products, a maker of fine chemicals and laboratory products, from Spectrum Chemical Manufacutring Corp. No financial terms were disclosed. Harvard Drug is a portfolio company of Court Square Capital Partners.
(Reuters) – Terra Firma, the private equity firm run by Guy Hands, has raised its investment in renewable energy by buying the Ardrossan Windfarm in Ayrshire, Scotland from Scottish & Southern Energy (SSE.L). Terra Firma’s Infinis, which also has landfill gas operations, will pay 28.1 million pounds ($40.38 million) in cash and assume debt of […]
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