BANGKOK (Reuters) – U.S.-based private equity firm TPG Capital said on Tuesday it had agreed to sell its 37 percent stake in Thailand’s BankThai to Malaysia’s CIMB . That would increase CIMB’s holding in BankThai to about 80 percent, after it completed the purchase of 42.13 percent from an arm of Thailand’s central bank last […]
Genstar Capital today announced that it has helped launch MidCap Financial LLC, a new commercial finance company that will focus on middle-market lending to the healthcare industry. The new company will be run by the former senior managers of Merrill Lynch Capital Healthcare Finance, and has secured $500 million in equity commitments from Genstar, Lee Equity Partners and Moelis Capital Partners. So we’ve got 5 questions for Ryan Clark, a Genstar principal who helped lead the deal. 1. Is this a healthcare or financial services play? Clark: It’s both. Over 50% of our investments have been in the healthcare and life sciences area, which is where we got to meet the MidCap management team. They’ve worked on the leveraged lending side with us for years, on deals like OnCure Medical. When GE said it was buying Merrill Lynch Capital, we approached the team and said
NEW YORK  (Reuters) – A judge approved the auction and bidding procedures for bankrupt SemGroup LP’s White Cliffs Pipeline unit, according documents filed with the U.S. Bankruptcy Court for the District of Delaware. SemGroup, which is operating under Chapter 11 bankruptcy and provides gathering, transportation, storage and other midstream services for producers and refiners of […]
Blue Wolf Capital Management has formed Healthcare Laundry Systems, a provider of laundry services to hospitals and clinics in the greater Chicago area. No financial terms were disclosed for the deal, which included acquiring the assets of Chicago-based Hospital Laundry Services and of Northern Illinois Hospital Services, based in Rockford, Illinois.
Despite its bad reputation for backing out of deals, private equity has managed to avoid Thomson Reuters' list of the largest withdrawn M&A bids. It was released today in honor of the largest pulled bid of all time, BHP Billiton's $188 million offer for Rio Tinto. The entry level price for the list is $54 billion (a French deal), which means even BCE, at $46.8 billion, wouldn't have qualified had the consortia walked away. So in a quasi-PR win, PE gets a pass today. Baby steps. For posterity's sake, thus far in Q4, the US has had $362 billion in deal announcements and $322 billion in cancellations, according to Thomson Reuters. That looks pretty bad compared
Empire Investment Holdings has acquired Polyester Fibers LLC from Leggett & Platt Inc. (NYSE: LEG). No financial terms were disclosed. Polyester Fibers LLC makes nonwoven materials for the bedding, furniture, filtration, and retail marketplace.
Nuveen Investments Inc., a Chicago-based provider of investment services to institutional and high-net-worth investors, has agreed to acquire Winslow Capital Management, a Minneapolis-based firm focused on managing large cap growth stock portfolios for institutions and high net worth investors. No financial terms were disclosed, except that Winslow has approximately $4 billion in capital under management and advisement. Nuveen was taken private last year for $6.3 billion by Madison Dearborn Partners.
Hastings Equity Partners has sponsored a majority recapitalization of Quality Aircraft Accessories Inc., a Tulsa, Ok.-based repair station and provider of accessory parts to the general aviation aircraft industry. No financial terms were disclosed for the deal, which included leveraged financing from MFC Capital Funding.
KarpReilly Capital Partners and HIG Capital been withdrawn their $200 million offer to buy women’s apparel retailer Charlotte Russe Holding Inc. (Nasdaq: CHIC), after being rebuffed by the company’s board of directors. KarpReilly currently holds a 5.4% stake in Charlotte Russe.
MidCap Financial LLC has launched as a Bethesda, Md.-based commercial finance company that will focus on middle-market lending to the healthcare industry. It has secured over $500 million in capital commitments from Lee Equity Partners, Genstar Capital and Moelis Capital Partners. It has also secured a long-term debt facility led by Wells Fargo Foothill. MidCap will be run by the former senior management team of Merrill Lynch Capital Healthcare Finance, including its founder Howard Widra.

Copyright PEI Media

Not for publication, email or dissemination