News and Analysis

TA Associates may lose its $320 million investment in Steve & Barry's, the Port Washington, N.Y.-based clothing retailer that's expected to file for bankruptcy, according to news reports. The business was flagged as a restructuring candidate several weeks ago and has failed to find rescue financing. In addition to TA, General Electric Co. invested $200 […]

Sterling Partners-backed Prospect Mortgage Co. acquired 60 retail branches of IndyMax Bancorp for an undisclosed price. Sterling Partners created Prospect in 2006 as a part of a contrarian role-up strategy.

The Jordan Company-backed Worldwide Clinical Trials acquired MediQuest, a contract research organization based in Eastern Europe. MediQuest is Worldwide Clinical Trials's fifth add-on. Deal details were not disclosed. NEW YORK, NY

CLEVELAND, July 8 — Valley National Gases, LLC announcedtoday that it has acquired Beaver Valley Welding Supply, Inc. The acquiredbusiness sells industrial, medical, and specialty gases, and welding equipmentand supplies from its Aliquippa, PA location.  Jeff Lyden, former owner, willremain with the business and will be a welcome addition to the Valley family.Michael Ziegler, Chief […]

Waterland, a UK private equity consortium, is in negotiations to restructure the buyout debt of its Dutch gaming portfolio company JVH Gaming. The business blames its struggles on a new smoking ban and tax. The debt in question is worth

Winona Capital and Chicago Growth Partners-backed American Education Group has purchased Georgia-based private school operator Shreiner Academy from its founders. Deal terms were not disclosed, but the transaction is American Education's fourth add-on since taking on a $40 million investment from the PE firms last year.

This weekend we said goodbye to the two remaining BCC (before credit crunch) deals, closing the book on both Penn National and BCE. Each found long-anticipated resolutions that seemed relatively painless for those involved. End of story. But as we bid farewell to that era, a different deal opened up a whole new can of […]

Bioniche Pharma has acquired the Enlon line of products from Baxter Health Care Corp. Bioniche is backed by RoundTable Healthcare Partners.  www.bionichepharmausa.com/

PQ Corp., a specialty chemical company owned by The Carlyle Group, has completed its acquisition of INEOS Silicas, a division of INEOS. No financial terms were disclosed, except that the combined company should have annual sale revenue in excess of $1 billion. Carlyle Group will hold around a 60% stake in the company, while INEOS […]

Some were surprised, but the deal that wouldn’t die has finally left the building. But look at Penn National Gaming’s stock. A failed merger usually doesn’t garner a leap in share price to the tune of 10% plus. (Though considering the spread on this one, maybe.) But a fat $225 million breakup fee, plus Centerbridge […]