Charlesbank Capital Partners and H.I.G. Capital have acquired eye care services company TLCVision out of Chapter 11 bankruptcy.
Charlesbank Capital Partners has sponsored a recapitalization of Tulsa-based cedar distributor Cedar Creek, in exchange for a majority ownership position. ClearRidge Capital advised Cedar Creek on the deal. No financial terms were disclosed.
As the high-yield market continues its mystifying robustness, our nervousness grows. Last week, we wondered what lenders and buyers were thinking in fueling all this activity. Today, at the Fourth Annual Debtwire Distressed Debt Forum in New York, we got our answer: Basically, the high-yield market is akin to that scene in Reservoir Dogs where five people are all aiming guns at each other. It turns out that the high-yield market's record activity is real, but it also disguises some cautiousness and misgivings (whew). And yet, there is optimism! And yet, it is grounded by fear! Overall, it looks to us like a market in which lenders and buyers are paddling as fast as they can before all their raft is re-deflated. We rounded up some of the paradoxes we heard discussed at the conference this morning and contrasted them after the jump:
Stant Corp., a portfolio company of H.I.G. Capital, has acquired the assets of Expert Corp., a Romeoville, Ill.-based maker of evaporative emission canisters and front end carriers for the automotive industry.
Avolon, an aircraft leasing company, has raised $750 million in equity commitments from Cinven, CVC Capital Partners and Oak Hill Capital Partners,. It also has secured a $400 million warehouse debt financing facility.
SEOUL (Reuters) – A consortium by Korea Investment Corp (KIC) and China Investment Corp (CIC) is considering buying stakes in Chesapeake Energy Co (CHK.N), local media said on Thursday. While Chesapeake is set to issue $900 million worth of convertible preferred stock, KIC and CIC are in talks to acquire $300 million each, with Singapore […]
NEW YORK (Reuters) – As many as 20 bidders are interested in buying U.S. software company Novell Inc (NOVL.O), which has put itself up for sale and is this week accepting bids, the Wall Street Journal reported on Wednesday.Most or all of the companies expected to make serious bids are private equity firms, the Journal […]
LONDON (Reuters) – Private equity groups Doughty Hanson and Charterhouse are eyeing Unilever’s (ULVR.L) Italian frozen food unit, the Financial Times reported on Thursday. Sources close to the situation told Reuters Permira, which owns Birds Eye Iglo, and Lion Capital which runs Findus Group are expected to lead the bidding, while BC Partners and […]
MELBOURNE (Reuters) – Private equity groups TPG and Carlyle have raised their bid for Australian hospital operator Healthscope (HSP.AX) slightly to A$1.8 billion ($1.5 billion) trying to woo the board. The bidders do not plan to split the group’s hospitals and pathology arms, an industry source said, deflecting speculation among analysts that the group could […]
NEW YORK (Reuters) – Barcalounger Corp, which began making reclining chairs in World War II, has filed for bankruptcy protection and agreed to sell its assets, citing a sales downturn that left it unable to survive. In a filing in the Wilmington, Delaware, bankruptcy court, Chief Restructuring Officer John Chapman said Barcalounger cannot generate enough […]