LONDON (Reuters) – BC Partners and Silver Lake are set to buy U.S. healthcare services firm MultiPlan, the private equity firms said on Friday, in the year’s largest secondary buyout worth about $3.1 billion. BC Partners and Silver Lake are buying the company, which provides systems to reduce the cost of healthcare claims, from rival […]
MADRID (Reuters) – The consortium preparing to buy infrastructure operator Abertis (ABE.MC) will take on a third less debt after some banks left its lending syndicate, a source close to the situation said, reflecting tough credit conditions in Spain. Private equity firm CVC Capital Partners [CVC.UL] and existing shareholders ACS (ACS.MC) and La Caixa’s investment […]
LONDON (Reuters) – A clutch of buyout firms are lining up against business software provider Sage (SGE.L) as they vie to buy Italy‘s TeamSystem from Bain Capital, sources familiar with the situation said. Advent International, Cinven [CINV.UL] and HG Capital are all into the second round of the auction process, sources said. Bids for the […]
Just what does it take to get a PE-backed bank deal to the finish line? Think more than a year's worth of meetings with regulators. “It’s been a long time coming,” says Manny Mehos, chairman of Houston-based Green Bank, which recently sold around a 74% ownership stake to three private equity firms for $100 million. Mehos estimates the he spent 15 months on the deal, and spoke to roughly 40 buyout shops, as well as some hedge funds and other institutional investors. The ultimate investors were Friedman Fleischer & Lowe, Harvest Partners and Pine Brook Road Partners. With the funds, Green Bancorp expects to buy other banks, mainly small ones, via structured deals or FDIC-assisted acquisitions. It also may target branches or loan portfolios. With more than 700 on the FDIC’s troubled bank list, Mehos think there are lots of opportunities. “During distressed times, where the banking industry is downsizing, there are optimum ways to take advantage of opportunities,” he says.
Grandpoint Capital of Los Angeles has secured $375 million in new capital commitments, including $100 million from Stone Point Capital. Around $75 million of the fundraise will be used to launch a new, mid-market banking unit.
Court Square Capital Partners has acquired the performance support software unit of RWD Technologies. No financial terms were disclosed.
Welsh, Carson, Anderson & Stowe has acquired a majority stake in K2M Inc., a Lessburg, Va.-based provider of solutions for the treatment of complex spinal pathologies. No financial terms were disclosed. Existing K2M backer Ferrer Freeman & Co. will retain an ownership percentage.
WL Ross & Co. has agreed to lead a $100 million investment into Sun Bancorp Inc. (Nasdaq: SNBC). The $4 per share deal would provide the investors with a 24.9% of Sun Bancorp's outstanding common stock.
Ondine Biopharma (TSX: OBP) has agreed to sell a majority position in a to-be-formed subsidiary, Sinuwave Technologies, to a group of undisclosed European private equity investors. Sinuwave will develop photodisinfection solutions for the chronic sinusitis market. The total deal could be valued at around $3.1 million.
Stirling Square Capital Partners has acquired Environmental Solutions Europe Holding BV, a Germany-based maker of waste containers and recycling systems, from OTTO Group. No financial terms were disclosed.