News and Analysis

Primesight Ltd., a UK outdoor advertising company owned by GMT Communications Partners, has acquired the roadside assets of Titan Outdoor Asdvertising Ltd. No financial terms were disclosed for the deal, which includes 8,600 panels, consisting of 7,900 48-sheet panels and 700 96-sheet panels.
CNBC Is Hiring: The financial news network has "extended an invitation to anyone who owns a suit to drop by the financial news network and be a guest expert, cohost a show with Larry Kudlow, or do whatever." (The Onion) Citadel: One more way to keep your leveraged loan holdings liquid. Citadel has opened a trading operation for bank debt. (Bloomberg) FYI: Illinios Teachers plans to commit between $700 million and $1.2 billion next year with between nine and 16 funds. (P&I) Light On The Ladies: "Women represent just 10% of the 747 Europe-based investment professionals at Europe's 10 biggest firms in the private-equity industry, according to figures from data provider Preqin and the firms themselves." (Dow Jones)
"We also thank our sponsor Ripplewood Holdings, who has provided inspired vision and stewardship over the last two and a half years, including during this process." - Mary Berner, CEO of The Reader's Digest Association. This was part of today's announcement that Reader's Digest will file for Chapter 11 bankruptcy protection, to facilitate a debt restructuring that would wipe out Ripplewood's equity stake. Remember, it was just over two years ago that Ripplewood bought Reader's Digest just two years ago for $2.4 billion, and it originally wanted to pay about $150 million more (which likely would have resulted in even more debt). So I'm not sure if Berner was being ironic or was just the victim of some well-meaning -- but poor-thinking -- PR flack. Maybe she was just saying "Thanks for the paycheck," since Ripplewood installed her as CEO in the first place...
NEW YORK (Reuters) – Reader’s Digest Association Inc, whose namesake magazine has been a staple of dentists’ offices for generations, said on Monday it planned to file for Chapter 11 bankruptcy for its U.S. businesses as part of a prearranged plan with lenders to cut debt by 75 percent. The media company, known worldwide for […]
(Reuters) – British engineer Hampson Industries Plc (HAMP.L) said on Monday it sold its aerospace machining unit to Darwin Private Equity LLP for 23.7 million pounds ($39 million) in cash. Hampson Aerospace Machining Ltd (HAML), which employs 300 people and operates from three facilities in the United Kingdom, does the precision machining of metallic components […]
HealthPort Inc., an Alpharetta, Ga.-based provider of healthcare IT solutions to hospitals and health systems, has filed for a $100 million IPO. It plans to trade on the Nasdaq under ticker symbol HPRT, with Deutsche Bank Securities and William Blair & Co. serving as co-lead underwriters. HealthPort is owned by ABRY Partners. www.healthport.com
One Equity Partners has agreed to invest $75 million into ArthroCare Corp. (OTC BB: ARTC), an Austin, Texas-based maker of minimally-invasive surgical products. The investment would be in the form of newly-issued Series A convertible preferred stock, convertible into common stock at $15 per share.
NEW YORK (Reuters) – U.S. banking regulators have asked prospective buyers of struggling Texas bank Guaranty Financial Group (GFG.N) to submit bids by Monday, the Financial Times reported, citing people familiar with the matter. Regulators are hoping that three banks that had bid for Colonial Bank — Canada’s Toronto Dominion (TD.TO), JPMorgan (JPM.N) and Spain’s […]
NEW YORK, (Reuters) – Guy Hands’ private equity firm Terra Firma Capital Partners, the owner of EMI Group, is working to prevent a loan agreement default at the company’s recorded music unit, the Wall Street Journal reported. Terra Firma acquired EMI for 4 billion pounds, including 1.4 billion in cash from investors and a 2.6 […]
NEW YORK (Reuters) – Investors lured by healthier stock markets and private equity firms eager to unload stakes in their portfolio companies are setting the stage for the return of billion-dollar-sized initial public offerings to the United States. The size of several recent deals and new IPO applications has grown larger than what has been […]
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