Ontario Teachers’ Pension Plan invests $300 mln in FRG

Flynn Restaurant Group has secured approximately $300 million in funding from Ontario Teachers’ Pension Plan. OTPP is buying its stake from Goldman Sachs‘ private equity arm GS Capital Partners and Weston Presidio. Headquartered in San Francisco, FRG is the largest restaurant franchisee in the U.S.


EFH Chapter 11 filing as soon as Monday: Reuters

Leading Texas power company Energy Future Holdings is expected to file for bankruptcy as early as Monday evening, sources close to the situation told sister news service Reuters on Friday, as it struggles to pay its hefty debt load of more than $40 billion because of cheap electricity prices.


GS Capital Partners and Thomas H. Lee Partners to sell Michael Foods for $2.45 bln

Post Holdings said Thursday that it has agreed to buy Elizabeth, NJ-based food products provider Michael Foods from GS Capital Partners, Thomas H. Lee Partners and other owners for $2.45 billion. The deal is expected to close in the second calendar quarter of 2014. Barclays is advising Post on the transaction while BofA Merrill Lynch and Goldman Sachs are advising Michael Foods.

Lauren Koopman

PE Seen Catching Up on Sustainability, Environment

Corporations have led the way in addressing environmental, social and governance issues, but the private equity community is catching up, says Lauren Koopman, a director in the sustainable business solutions team at the global accounting firm PricewaterhouseCoopers.

Need To Sell? Sensus

Need To Sell, a feature in Buyouts magazine, is a mini-profile of a company that, judging by how long its been in its sponsor’s portfolio, should be ripe for a sale and hence a potential deal opportunity. This is an updated version that ran in the Aug. 13 edition. –BV For a sponsor looking to buy […]

USI Insurance Buys Suncoast Insurance

USI Insurance Services, which is backed by GS Capital Partners, has closed its buy of Suncoast Insurance Associates. Financial terms weren’t announced. Tampa, Fla.-based USI provides insurance for design firms in that state. The acquisition is expected to add about $3 million in revenue to USI on an annual basis, a statement says. PRESS RELEASE […]

Linden’s Drayer Sold to GS Capital

Drayer Physical Therapy Institute, a physical rehabilitation business, has been sold to GS Capital Partners. Drayer was a portfolio company of Linden Capital Partners, who backed the company in a 2008 recapitalization along with management. Harris Williams & Co acted as the exclusive financial advisor to Drayer. PRESS RELEASE Harris Williams & Co., a preeminent […]

Interline Brands Sells to GS Capital and P2 Capital for $810 Million

Interline Brands of Jacksonville, Fla., which makes products used by locksmiths and professional contractors, is being acquired by GS Capital Partners P2 Capital Partners for roughly $810.9 million in cash. Interline intends to maintain its corporate headquarters in Jacksonville. PRESS RELEASE: Interline Brands, Inc. IBI +39.80% (“Interline” or the “Company”), a leading distributor and direct marketer […]

Kinzer Joins BackOffice as CFO

BackOffice Associates said Wednesday that John Kinzer has joined as CFO while Rex Ahlstrom was named chief strategy officer. Mark Loan joins as BackOffice’s chief sales officer, according to a statement. BackOffice supplies data migration and information governance solutions. BackOffice is backed by GS Capital partners. PRESS RELEASE BackOffice Associates, LLC, a worldwide leader in […]

Accel-KKR Deals Majority Position in Endurance International to GS Capital, Warburg

Private equity firms Warburg Pincus and GS Capital Partners will acquire the majority position in Endurance International Group, a hosting service for online businesses, from investor Accel-KKR, which will retain a stake in the company. Specifics on the deal were not publicized. Credit Suisse acted as the financial advisor to Warburg Pincus and provided the debt financing for the transaction. Cleary Gottlieb Steen & Hamilton LLP acted as legal advisor to Warburg Pincus and Goodwin Proctor LLP acted as legal advisor to GS Capital Partners. Morgan Stanley served as financial advisor and Kirkland & Ellis LLP served as legal advisor to Endurance and Accel-KKR.

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