CPPIB, BC Partners to invest in Altice’s $17.7 bln buy of Cablevsion

By Luisa Beltran — 4 months ago

Canada Pension Plan Investment Board and BC Partners, along with co-investors, have agreed to invest about 30 percent of the equity in Altice’s $17.7 billion agreement for Cablevision Systems Corp. CPPIB and BC Partners are exercising their option to participate in the Cablevision deal as part of their agreement to sell to sell a majority of Suddenlink to Altice, announced in May, for $9.1 billion. CPPIB and BC Partners will each fund 12 percent of the Cablevision acquisition, about $400 million each, with the balance funded by co-investors. The transaction is expected to close in the first half of 2016.

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UBS taps Goldman Sachs’ Justicz as MD

By Iris Dorbian — 6 months ago

UBS has named Max Justicz as a managing director in its Americas Financial Sponsors group, the company announced today in a memo. Justicz will join UBS in the fall and be coming from Goldman Sachs. There he has served as primary coverage banker for various private equity firms and their portfolio companies that include Carlyle, CVC Capital, BC Partners, Permira, Riverstone, Silver Lake, Jordan, New Mountain Capital, Oak Hill and CCMP Capital.

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PE-backed Teneo acquires Blue Rubicon and StockWell

By Iris Dorbian — 7 months ago

Teneo Holdings, which is backed by BC Partners, has acquired UK-based strategic communications and reputation management firms Blue Rubicon and StockWell. No financial terms were disclosed. KPMG Transaction Services advised Teneo on the transaction while Ingenious Corporate Finance advised Blue Rubicon.

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Thoma Bravo ups two to principal

By Iris Dorbian — 8 months ago

Thoma Bravo has promoted Arvindh Kumar and Chip Virnig to principal. Previously, Kumar and Virnig were vice presidents. Prior to joining Thoma Bravo, Kumar worked at a number of firms that included Prospect Capital Management, BC Partners and Morgan Stanley while Virnig worked in Merrill Lynch & Co’s investment banking group.

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BC Partners, CPPIB to sell 70% of Suddenlink to Altice

By Luisa Beltran — 9 months ago

BC Partners, Canada Pension Plan Investment Board and other co-investors have agreed to sell a 70 percent stake in Suddenlink Communications to Altice S.A. The transaction implies a total enterprise value of about $9.1 billion for Suddenlink. Once the deal closes, BC Partners and CPPIB will each receive $960 million in proceeds and a vendor note of about $200 million. CPPIB and BC Partners will each retain a 12 percent stake in the company. St. Louis-based Suddenlink is the seventh-largest cable system operator in the United States. LionTree Advisors acted as financial advisor to Suddenlink.

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BC Partners-led group completes take-private acquisition of PetSmart

By Iris Dorbian — 11 months ago

A BC Partners-led consortium has closed its previously announced buy of pet supply retailer PetSmart Inc for $83 per share. As a result of the transaction, PetSmart will no longer trade on the NASDAQ as of March 11. The other firms that participated in the acquisition include La Caisse de dépôt et placement du Québec, StepStone and Longview Asset Management. J.P. Morgan Securities LLC provided financial advice to PetSmart on the deal.Also, PetSmart President and CEO David K. Lenhardt has stepped down from his duties. Michael J. Massey will replace Lenhardt while Raymond Svider becomes PetSmart’s non-executive chairman of its board of directors.

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PE-backed Springer Science+Business Media to merge with Macmillan Science and Education

By Iris Dorbian — 1 year ago

Springer Science+Business Media, which is owned by funds advised by BC Partners, has agreed to merge with the majority of Holtzbrinck-owned Macmillan Science and Education. No financial terms were disclosed for the transaction that aims to create a global science and education publishing house. Following the closing of the deal, the newly merged company will be under joint control of Holtzbrinck and funds advised by BCP with Holtzbrinck retaining a 53 percent stake.

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