Salveo Specialty Pharmacy, a company formed to acquire and develop specialty pharmacies in the U.S., has struck a deal with NewSpring Capital for investment capital. Specifics of the deal were not publicized. Additionally, the company acquired Echo Specialty Pharmacy Services to enhance its development in the New York marketplace. Brian Murphy, NewSpring General Partner, will be joining the Board of Directors post-financing. Three Arch Partners and Petra Capital Partners also participated in the deal.
(Reuters) – Spotify, the European music streaming service backed by digital entrepreneur Sean Parker, has more than 250,000 paying users in the United States since it opened up shop in July, according to three people familiar with its data. The London-based company, which suffered significant losses in 2010 as it expanded to new markets, has […]
(Reuters) – Cerberus Capital Management and Chatham Lodging Trust have reached a tentative agreement to buy bankrupt Innkeepers USA Trust at a lower price than in an earlier deal that fell apart, a source close to the talks said. Cerberus and Chatham would acquire 64 of the bankrupt hotel operator’s properties for about $1 billion […]
Middle market lender LBC Credit Partners was co-lead arranger and syndication agent for a senior secured credit facility assigned to Assistive Technology Group (ATG), maker of rehabilitative technology equipment. ATG is a portfolio company of Audax Private Equity and used the facility to both refinance its existing debt and to acquire Chesapeake Rehab Equipment of […]
Private equity still likes real estate. Oaktree Capital Management will establish a joint venture with Everest Realty Management to form a Tenants In Common (TIC) partnership. It will provide a varying range of short- and long-term solutions for clients with capital needs.
What's Carlyle really worth? That's the question asked by The Deal today. Carlyle, in case anyone has forgotten, has filed to go public and an IPO is expected in the first half of 2012. Washington D.C.-based Carlyle wants to join the ranks of the Blackstone Group, KKR, Apollo Global Management and Fortress Investment Group which have already gone public. Blackstone, the PE firm led by Stephen Schwarzman, was the first. The global buyout shop raised $4.13 billion in 2007. Blackstone shares are currently trading at $13.67, well below their $31 IPO price (Blackstone currently has an $18.02 billion market cap).
The latest edition of Buyouts holds a valuable guest article by Co-CEOs of The Riverside Company Stewart Kohl and Béla Szigethy who give us a rare glimpse into the mistakes that top private equity firms make in an industry where everyone claims to be top-quartile but where LPs are increasingly scrutinizing track records.
Apax is teaming up with Santander, the euro zone's largest lender, to buy KBC's controlling stake in Poland's Kredyt Bank, Reuters reported Thursday. The stake is worth roughly $1 billion.
The Wall Street Journal has a story out today that says “Web Startups Hit Cash Crunch.” There has been a fair bit of reaction in the tech blogs and I thought I’d toss into the discussion some things we are seeing: 1) There are so many startups out there raising money. I don’t think this […]
Standard Chartered Private Equity has put $61 million into South Korean motorcycle and auto parts maker Daelim Motor Co., Reuters reported. Formed in 1978, Daelim Motor makes Citi and Tact motorcycles, and supplies die-cast aluminium parts for engines and transmissions. It is part of chemical- and construction-focused Daelim Group.