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Sun Capital Partners is exiting Aclara Technologies LLC after a three-year hold. Hubbell Power Systems Inc said Dec. 26 it would buy Aclara for $1.1 billion. The St. Louis company provides smart meters and other field devices to more than 800 water, gas and electric utilities. Aclara, employing about 1,200, produces adjusted EBITDA of $90 […]

Jefferies ran narrow auction for PetCor Investor eyes may shift to PE-backed VetCor Seller OTPP bought company 3 years ago in reported $440 mln deal KKR is buying PetVet, a deal that ought to fuel even more sponsor interest in the growing pet-care universe. The deal comes about three years after Ontario Teachers’ Pension Plan bought its […]

Firm: Siris Capital Fund: Siris Partners IV Target: $3 bln Amount Raised: N/A Placement Agent: Park Hill Group Siris Capital Group is heading for a first close on its fourth tech-focused fund targeting $3 billion, according to a person with knowledge of the firm. The first close should happen before year end and could come between […]

MedRisk commands >14x EBITDA multiple Carlyle evaluated previous worker’s-comp opportunities Carlyle also won Spectrum’s Net Health this week Less than two years into its investment, TA Associates is exiting MedRisk via a sale to Carlyle Group, a deal that values the specialized managed-care company north of $1 billion, Buyouts has learned. Through its $13 billion Fund VI, Carlyle […]

New fund includes $200 mln commitment from GP Will invest 50-50 alongside Warburg’s main fund Warburg Pincus also raised China, energy-focused funds Warburg Pincus closed its new financial-services fund on $2.3 billion, hitting the hard cap it set for outside investors. Roughly 60 percent of the fund’s limited partners have invested in previous Warburg Pincus funds, […]

Canada’s market for initial public offerings came roaring back this year from a dismal 2016, due in no small part to new issues backed by private equity and venture capital funds. This year “was a breakthrough year in the IPO market, one of the best of the past decade,” Dean Braunsteiner, national IPO services leader at PwC Canada, told PE Hub Canada. Braunsteiner gives some of the credit to PE and VC funds investing in the wake of the 2007-2009 recession and now on the lookout for liquidity opportunities. This trend, combined with pent-up demand and rising share prices late last year, created a “perfect storm,” he said. Taken together, a dozen Canadian PE- and venture-backed IPOs collected $2.3 billion in 2017.

Third fund since switch from subordinated debt to control equity Will target advanced manufacturing, specialty distribution, business services Investment strategy stresses capital preservation Windjammer Capital Investors is targeting $800 million for its fifth institutional fund, according to pension documents. Windjammer Senior Equity Fund V will pursue control buyouts in middle-market businesses, including advanced manufacturing, specialty distribution and business services companies. […]

Newly merged company expects >$80 mln EBITDA in 2018 Deal came together after formal Goldman auction Companies collect patient data used by private health plans to bill Medicare Through a pair of simultaneous deals, New Mountain Capital has created a means for Health Evolution Partners to liquidate one of its last remaining investments, CenseoHealth. New Mountain […]

Harris Williams wins sell-side mandate Numotion created in 2013 merger of LLR’s United Seating & Mobility, Audax’s ATG Rehab Company makes personalized manual and power wheelchairs, other mobility products Numotion, the complex rehabilitation technology company jointly owned by Audax Group and LLR Partners, is expected to return to the auction block next year, three sources familiar […]

Fund III targets up to $4.5 bln LPs can terminate fund for any reason Fund expected to have strong fundraising Sycamore Partners’ new fund, targeting up to $4.5 billion, does not allow limited partners to remove the GP without cause — known as a no-fault divorce — until the 10th anniversary of the fund, sources told Buyouts. Most […]