Golden Gate Capital said Thursday that it has agreed to buy Conexant Systems for $2.40 a share cash, or roughly $300 million. The deal, subject to shareholder approval and other closing conditions, is expected to close in second quarter. Golden Gate outbid Standard Microsystems, which had offered to buy Conexant for $2.25 a share, or $284 million.
Who wins with the HCA IPO? The PE firms do, that’s who. Hospital operator HCA is expected to go public early next month (we're hearing the pricing happens on March 9) and the offering represents a boon to its investors. HCA, in case anyone has forgotten, was acquired by an investor group-- comprised of Bain, KKR, Merrill Lynch Global Private Equity (now BAML Capital Partners), and affiliates of HCA founder Dr. Thomas Frist—in November 2006 for about $33 billion. The buyers invested $5.3 billion equity in the deal, according SEC filings.
Intermediate Capital Group has agreed to buy Gerflor from AXA Private Equity. Financial terms were not announced. Gerflor's management is also investing. Barclays Private Equity and NiXEN Partners, minority investors in Gerflor, are also selling their stake. Gerflor, of Villeurbanne, France, creates and makes solutions for flooring and interior finishes.
Fifth Street Finance Corp. said Thursday that loan commitments on its three-year syndicated credit facility has increased to $215 million. ING Capital, which is leading the loan, is being joined by Deutsche Bank Trust Company Americas, Key Equipment Finance Inc. and Patriot National Bank on the facility.
The past 10 years have been a difficult time to be an Internet analyst on Wall Street. I worked on sell side research from 2004 though 2007, doing data acquisition deals and research sales at Majestic Research and DeMatteo Monness. By the end of my time on Wall Street, there were only a few large […]
European hotel group Accor SA is among those bidding for Shanghai Motel Management, a chain of motels majority owned by Morgan Stanley, Reuters reported. The deal could reach $1 billion, and has seen interest from Blackstone Group LP and Carlyle Group, which reportedly held talks with Accor about forming a bidding consortium for the Chinese […]
Rock Hill Capital Group has completed a majority recapitalization of Alpha Technical Services Corp., a Pasadena, Texas-based provider of specialized industrial cleaning and hazardous waste disposal services. Financial terms of the deal were not released. Formed in 2008, Rock Hill Capital is a private equity firm that targets investments in middle-market and lower middle-market companies.
Warburg Pincus LLC and Vestar Capital Partners are close to a deal to buy Triton Container International Ltd from the Pritzker family, Reuters reported. The value of the deal could reach as high as $1 billion. Negotiations are in the “final stage,” Reuters reported.
Secret Meetings: Is the White House trying to keep Obama administration meetings with lobbyists shielded from the public? Supplier Issues: A screen maker for Apple’s iPhone sees workers sickened at China plant The JPMorgan Network: The mega-bank’s social media fund raises $1.2B already Expanding: Dunkin’ heads to India
Boston-based private equity firm Riverside Partners completed an investment in Pilgrim Software Inc., a Florida-based provider of enterprise software focused on compliance, quality, and risk management. Philip Borden, a general partner at Riverside Partners, worked on the transaction from the private equity firm.
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