Today, we're joined by guest blogger Ken Springer, who reminds readers they ought to check the pulse of their investments very carefully to avoid fraud on healthcare deals.
U.S. private equity firm Carlyle Group may complete the sale of its shares in Medical Park in the first half of 2013, the Turkish hospital group's chairman said. Medical Park's other main shareholder, the Sancak family, may also consider selling a stake, Muharrem Usta also told Reuters on Friday, adding he would not sell his own shares. Sources told Reuters that private equity firms Texas Pacific Group and CVC were among those interested in buying a stake in Medical Park.
Headland Capital Partners has acquired a majority stake in YoungToys Inc., a designer, manufacturer and distributor of toys in South Korea. Specific terms of the deal were not released. Headland, investing through its Headland Private Equity Fund 6 L.P., now holds 96.5% of the company.
Dallas-based buyout shop Insight Equity Holdings has acquired Micross Components Inc., a maker of semiconductor products, from Vance Street Capital. Terms were not disclosed.
Vestar Capital Partners has completed the sale of Sunrise Medical Inc. to Equistone Partners Europe. Terms of the deal – announced in early November – were not disclosed. Sunrise Medical is a manufacturer and distributor of high-end custom manual and power wheelchairs.
Italian investment fund Investindustrial said on Friday it bought a 37.5 percent stake in Aston Martin for 190 million euros ($245.6 million) and that the British sportscar maker will invest 625 million euros to make new car models in the next five years, Reuters reported. The deal gives Aston Martin the capital it needs to compete with other venerable sports car brands like Maserati, Ferrari, and Porsche that have the advantage of research and development costs covered by large corporate parents.
Hancock Fabrics, a Baldwyn, Miss.-based fabric retailer, has entered into an amended and restated loan and security agreement. The new, $100 million senior secured asset-based credit facility matures in November 2016. The company also closed on a $15 million term loan credit facility that mature in November 2016.
North Plains Systems Inc., a Toronto-based marketing company, has acquired VYRE, Inc., a U.K.-based maker of marketing resource management and brand asset management software. Terms of the deal were not disclosed. UPDATE: North Plains is a portfolio company of Accel-KKR LLC, a technology-focused private equity firm based in Menlo Park, California. Accel-KKR first invested in North Plains in 2011.
Bain Capital has been leading private equity firms in using a controversial financing strategy to generate low-tax special dividends for itself and its investors for nearly the last decade.
SunGard Data Systems is looking to pay out its first dividend since being acquired by a group of private equity firms in 2005.