News and Analysis

Genstar Capital has agreed to acquire Long Term Care Group Inc. from Advent International and CCP Equity Partners. No financial terms were disclosed. LTCG is an Eden Prairie, Minn.-based provider of outsourced services to the long term care insurance industry and the geriatric care market. It will serve as the cornerstone of a new senior care services platform called UniVita.

Renal Advantage Inc., a Brentwood, Tenn.-based for-profit provider of dialysis services in the United States, has agreed to acquire National Renal Alliance LLC, a Franklin, Tenn.-based owner and operator of 45 dialysis facilities in 10 states. No financial terms were disclosed for the deal, which is expected to close later this month. Renal Advantage is […]

Presidio Investors has acquired a minority stake in The Interface Financial Group, a Potomac, Md.-based franchisor of professional bookkeeping and invoice discounting services. No financial terms were disclosed. www.interfacefinancial.com

Longroad Asset Management has agreed to acquire Medford, Wis.-based Hurd Windows & Doors Inc. out of bankruptcy, according to LBO Wire. Longroad will pay $11.25 million and buy up around $14 million in bank debt held by the residential window and door maker. www.hurd.com

MUMBAI (Reuters) – Private equity executives and investment bankers believe India must change some foreign investment rules if the buyout industry is to play a bigger role in helping to fund companies and infrastructure projects. Speakers at a Reuters India Investment Summit last week said that while India may be rich with opportunities, the government […]

TORONTO (Reuters) – BCE Inc. (BCE.TO: Quote, Profile, Research, Stock Buzz) is demanding that the Ontario Teachers’ Pension Fund pay a C$1.2 billion termination fee if the leveraged buyout of the company fails to go through, as expected, a newspaper reported on Saturday. Citing people familiar with the situation, the Globe and Mail said BCE […]

Golden Gate Capital and Preferred Unlimited Inc. have completed their acquisition of U.S. Silica from Harbinger Capital Partners. The deal included around $200 million in equity and mezzanine notes from Golden Gate, a $102 million senior note financing arranged by BNP Paribas and a $35 million revolving credit facility from Wachovia. U.S. Silica is a Berkeley Springs, West Va.-based maker of industrial silica sand. Harbinger bought it from Harvest Partners last year for an undisclosed amount.

NEW YORK/DETROIT (Reuters) – As U.S. lawmakers consider Chrysler’s request for a bridge loan, they will have to ask: Where does the bridge lead? Accompanied by its larger rivals General Motors Corp (GM.N: Quote, Profile, Research, Stock Buzz) and Ford Motor Co (F.N: Quote, Profile, Research, Stock Buzz), Chrysler LLC, majority-owned by Cerberus Capital Management, […]

All private equity eyes are on Canada right now, where the C$52 billion buyout of BCE Corp. seems to be on life support. Something about how KPMG doesn’t believe BCE could possibly remain solvent after taking on tens of billions of dollars in new debt. Seems like somebody got religion… BCE is the final act […]

Reliant Energy (NYSE: RRI) said that it will not proceed with a $1 billion capital infusion, which was to have included a $650 million term loan from GS Loan Partners and a $350 million convertible preferred stock purchase by First Reserve Corp.  PRESS RELEASE Reliant Energy announced today that it will not proceed with the […]