CCMP has closed its previously announced buy of a controlling stake in West Palm Beach, Florida-based Shoes for Crews, a maker of slip-resistant footwear. No financial terms were disclosed. As part of the deal, The Smith family, founders of Shoes for Crews, has rolled over a portion of their equity.Continue
Milacron, which just filed to go public, plans to pay a dividend to its sponsor, CCMP [...]Continue
CCMP has closed its previously announced acquisition of a controlling stake in Hillman from Oak Hill Capital. CCMP made the investment in partnership with Hillman’s current management team. Oak Hill Capital will retain a “significant” minority stake in Hillman. Headquartered in Cincinnati, Hillman is a provider of fasteners, key duplication systems, engraved tags and related hardware items.Continue
CCMP said Monday that it has agreed to acquire a controlling stake in Hillman from Oak Hill Capital for $1.475 billion. CCMP has partnered with Hillman’s current management team on the transaction. Oak Hill Capital will retain a “significant” minority stake in Hillman. Barclays is advising Hillman on the deal while Morgan Stanley is advising CCMP. Based in Cincinnati, Hillman is a provider of fasteners, key duplication systems, engraved tags and related hardware items.Continue
Business school isn't always a requirement for candidates seeking careers at private equity firms. Some [...]Continue
Ollie’s Bargain Outlet said Friday that CEO Mark Butler, senior management and CCMP Capital Advisors have completed their investment in the company. Financial terms weren’t announced. Harrisburg, Pa.-based Ollie’s sells merchandise obtained through closeouts, bankruptcy sales, salvage and surplus merchandise. Jefferies provided financial advice to Ollie’s. KeyBanc advised CCMP.Continue
Want to buy an industrial company? The price tag will be rich.Continue
(Reuters) – Big private equity firms are scrapping over bite-sized deals as they wait for financing markets that seized up over the summer to reopen for billion-euro-plus prospects across Europe. After a strong first half in which large buyouts returned at companies such as Swedish cable group Com Hem and French engineering firm Spie, turbulence […]Continue
LHP Hospital Group said Tuesday that it’s merging its previously announced joint venture between LHP Hospital Group and Saint Mary’s Health System with the Greater Waterbury Health Network, which includes The Waterbury Hospital. LHP is backed by CCMP. LHP will own an 80% interest in the JV, with GWHN and Saint Mary’s each owning a 10% interest.Continue
After more than five years, CCMP is exiting CareMore Medical Enterprise.
Wellpoint, a leading health insurer, announced Wednesday that it was buying CareMore, a managed healthcare provider that serves seniors. CareMore currently has about 54,000 members and operates 26 care center clinics in Arizona, California and Nevada. This is up from the roughly 20,000 members CareMore had when CCMP bought the company, a person says.Continue
PE firms selling companies to each other has become very popular.
This week, we saw Sentinel Capital Partners buying Chromalox from CCMP Capital Advisors. Financial terms weren’t disclosed but the transaction represents a long-hold for CCMP, which is the former JP Morgan Partners. CCMP acquired Sentinel in 2001 in a deal valued $165 million.Continue
It’s been awhile since I’ve posted anything on the payout parade.
Well, today’s is a good one. ARAMARK, which provides food services to stadiums and arenas, is issuing $600 million in notes via a private placement. ARAMARK plans to use proceeds from the offering, along with proceeds it receives from borrowings under a revolving credit facility, to pay a dividend to ARAMARK stockholders.Continue