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Highland West Capital has gone big with its second platform investment, backing a turnkey supplier to North America’s wood-processing industry. In June, the Vancouver private equity firm acquired a majority stake in BID Group. It partnered with the management team, led by CEO Alistair Cook and Chairman Brian Fehr, whose family owned the forest-products specialist for more than 30 years. Terms weren’t disclosed. However, BID, which has revenue approaching $400 million, represents a “large-sized deal,” Highland Managing Director David Mullen told PE Hub Canada.
Vista Equity Partners has become the third private equity firm to own PayLease, the property-management-payment-tool provider put up for sale earlier this year. The buyout shop co-founded by Robert Smith said June 28 that it acquired a majority of PayLease. Terms weren’t disclosed. Francisco Partners, the seller, and company management will retain significant ownership stakes, a […]
Chicago Teachers’ Pension Fund, private equity, pension fund, diversity
Stake sales are done not simply to cash out founders No word on “angry junior execs” leaving firms in wake of sales Cash is used for growth and GP commitments The private equity world has always seen some angry junior partners, and sales of minority stakes by GPs aren’t driving them to leave their firms, said Michael […]
LP ILPA
ILPA recommends GPs cap facilities at 180 days New guidelines emerge after LPs, GPs express need for clearer parameters Capital-call facilities can boost IRRs, affecting waterfalls and hurdle rates The Institutional Limited Partners Association thinks private equity firms should be more up front in describing how and when they use lines of credit secured against […]
Less than six months after receiving a large investment from Nautic Partners LLC, property-restoration company Response Team 1 was taken over by lenders Antares Capital and Lone Star Capital, according to three sources. RT1 failed to meet a performance/revenue target that was part of the Nautic recapitalization, one former executive at the company said. This tripped a loan covenant that prompted the lenders to […]
Three financial buyers are vying for Bristol Hospice in the late innings of its sales process, Buyouts has learned. Finalists for the hospice-care-services provider include H.I.G. Capital, another sponsor and a PE-backed platform, one of three sources familiar with the situation said. Edge Healthcare Partners is offering financial advice to Bristol, a subsidiary of closely […]
Primus Capital is looking to exit its nearly decade-long investment in MedHost, the provider of healthcare information management systems and patient engagement services, four sources familiar with the matter told Buyouts. William Blair scored the mandate to advise on a process for the Franklin, Tennessee, company, three of the sources said. MedHost generates EBITDA in […]
Francisco Partners is seeking a buyer for Therapeutic Research Center, a provider of evidence-based drug-therapy information that helps doctors stay informed and make decisions when treating patients, four sources told Buyouts. The sellers have retained William Blair to advise on the sales process, two of the sources said. Technology-focused private equity group Francisco completed its “strategic […]
private equity, Indiana University. Niklas Huther
Average time to close falls to 12 months, per Preqin Average fund size more than doubled compared to 2013 Fundraising environment extremely active: researcher Massive reinvestment in private equity has sped the average amount of time it takes firms to raise new funds. The average fund closes after a year on the market, year-to-date, according to […]
South Carolina Retirement System Investment Commission, private equity, Providence
Oaktree marketing fund since 2015 Combined vehicle targets $3 bln, $4 bln hard cap Fund receives $100 mln pledge from Illinois Municipal in May Oaktree Capital Management will split its new infrastructure fund into two sector-specific vehicles for investments in the transportation and energy sectors. Oaktree Transportation and Energy Infrastructure Fund, which the firm had been […]
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