The Carlyle Group has agreed to acquire Qualicorp, a Brazilian health insurance plan administrator. No financial terms were disclosed. Sellers include private equity firm General Atlantic, which bought a minority stake back in 2008.
Turns out there is another item of note in the FTC filing that revealed the Shoes for Crews auction winner. This one is about PSC Industrials, an industrial and environmental cleanup company owned by Carl Icahn. The filing indicates that private equity firm Lindsay Goldberg is buying PSC out of its third fund, which closed last year with $4.7 billion. No additional details were disclosed, although Icahn tells peHUB that the deal should be completed within a week or so. PSC Industrials used to be known as Philip Services Corp., before Icahn spun off its scrap metal processing unit into an independent business (and put it under the Ichan Enterprises umbrella). The Houston-based company provides industrial cleaning, envionmental, transportation and container services in North America, Mexico and Puerto Rico.
AEA Investors has agreed to acquire Shoes for Crews, a West Palm Beach, Fla.-based maker of slip resistant footwear for restaurant workers. Sellers include Advent International, which acquired a minority stake in 2004. We first reported on the deal back in April, when ten prospective buyers had submitted bids in excess of $250 million. That type of pricing would have produced a 7x or 8x EBITDA multiple for Advent, which invested $30 million as part of a larger recap -- including $32 million in senior debt -- at an enterprise value of around $120 million. AEA's auction victory was first disclosed in an FTC filing, and the firm has not yet responded to messages left by peHUB. Advent declined to comment.
North American Financial Holdings, a large capital pool backed by buyout shops, has bought three more failed banks from the FDIC: MetroBank of Dade County, Turnberry Bank and First National Bank of the South—from the FDIC. It isn't yet clear what MIami-based NAFH is paying, but the deals give it 10 branches in the Miami area and 13 branches throughout South Carolina. Regulators shut down the three banks on July 16. The largest one is First National Bank of the South (of Spartanburg, S.C.), which had total assets of $682.0 million and $610.1 million in deposits as of March 31. MetroBank of Dade County (of Miami) had $442.3 million assets and total deposits of $391.3 million in deposits. Turnberry Bank, of Aventura, Fla., had $263.9 million in assets and $196.9 million deposits. NAFH acquired the institutions through NAFH National Bank, its newly formed FDIC-insured national bank.
LONDON (Reuters) – Car parts maker Tomkins Plc (TOMK.L) received a $4.5 billion bid approach from a Canadian consortium, the latest example of North American buyers eager to capitalise on sterling weakness to snap up British assets. Shares in Tomkins soared 33.1 percent to 306.6 pence by 0920 GMT, making the company the biggest riser […]
 (Reuters) – ATC Technology Corp (ATAC.O), an engineering and logistics services provider, said it agreed to be acquired by privately held GENCO Distribution System Inc for about $512.6 million in cash. The $25 per share deal represents a 43.4 percent premium to ATC stock’s Friday’s closing price. The deal follows a difficult phase in the […]
Riverside Partners has made a "significant investment" in Tech Valley Communications, an Albany, N.Y.-based CLEC and provider of fiber optic telecom services. No financial terms were disclosed.
(Reuters) – First-round bidding for MBK Partners LP’s stake in China Network Systems Co Ltd (CNS) and Gala Television Corp (Gala TV) has started, marking MBK’s exit from Taiwan’s cable TV industry. Private equity house MBK, which invested in cable TV multiple systems operator (MSO) CNS in July 2007 and cable TV content provider Gala […]
LONDON (Reuters) – Unilever (ULVR.L) (UNc.AS) has agreed to sell its slow-growing Italian frozen foods unit Findus to Birds Eye Iglo, which belongs to private equity group Permira, for 805 million euros ($1.05 billion). The disposal of Unilever’s last remaining frozen foods business in Europe reunites it with Birds Eye Igloo which the consumer goods […]
SYDNEY (Reuters) – Private equity firms TPG and Carlyle won a bidding war for Australian hospital owner Healthscope Ltd (HSP.AX), agreeing to pay $1.73 billion in the country’s largest buyout deal since 2007. Kohlberg Kravis Roberts & Co (KKR.N) was trumped by a higher-than-expected offer by TPG and Carlyle following last-minute negotiations at the weekend […]
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