274 Views

Hellman & Friedman, JMI Equity to exit Ellucian

TPG Capital and Leonard Green Partners have agreed to buy Ellucian. The sellers are Hellman & Friedman and JMI Equity. Financial terms weren’t announced but Reuters valued the deal at $3.5 billion. Fairfax, Virginia-based Ellucian provides software to universities and colleges. Morgan Stanley & Co. LLC, BofA Merrill Lynch, BMO Capital Markets Corp., and Barclays served as financial advisors to TPG and Leonard Green. Credit Suisse and Goldman, Sachs & Co. served as financial advisors to Ellucian.

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Genstar Capital appoints Clark as president

Genstar Capital has named J. Ryan Clark as president. Clark has been with Genstar since 2004; in 2011, he was appointed managing director. Prior to joining the firm, Clark worked at Hellman & Friedman LLC and Morgan Stanley.

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Rush of dividend loans for US private equity firms: Reuters

Private equity firms are borrowing to finance dividend payments from portfolio companies at the highest rate since the third quarter of 2013, according to Thomson Reuters LPC data, as a lack of new buyout deals leaves asset-hungry high-yield investors with few other lending options, Reuters reported.

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ABRA Auto Body closes Kadel deal

ABRA Auto Body & Glass, a portfolio company of Hellman & Friedman LLC, has closed its buy 23 Kadel’s Auto Body locations in Idaho, Oregon and Washington. Financial terms weren’t announced. The deal was announced in June. Nomura arranged financing for the transaction. Harris Williams & Co. advised Kadel’s.

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Emdeon buys Altegra Health for $910 mln

Emdeon Inc, a Blackstone and Hellman & Friedman portfolio company, said Monday it has agreed to buy Altegra Health for about $910 million in cash. Parthenon Capital Partners is the seller. Miami Lakes, Florida-based Altegra provides payment solutions for health plans and healthcare providers. Greenhill & Co. LLC is advising Emdeon while Goldman, Sachs & Co. and Triple Tree LLC provided financial advice to Altegra.

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ABRA Auto Body & Glass buys 23 Kadel’s Auto Body locations

ABRA Auto Body & Glass, a portfolio company of Hellman & Friedman LLC, has agreed to buy 23 Kadel’s Auto Body locations in Idaho, Oregon and Washington. Financial terms weren’t announced. Tigard, Oregon-based Kadel’s is regional auto body provider in the Pacific Northwest. Kadel’s is backed by KCB Private Equity.

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Verisk closes Wood Mackenzie buy

Verisk Analytics Inc. said Tuesday it completed its buy of Wood Mackenzie Ltd. in a deal valued at about $2.8 billion. The seller was Hellman & Friedman. Verisk, of Edinburgh, United Kingdom, provides data analytics and commercial intelligence for the energy, chemicals, metals and mining verticals.

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Hellman & Friedman to sell Wood Mackenzie for $2.8 bln

Verisk Analytics Inc. said Tuesday it has agreed to buy Wood Mackenzie from Hellman & Friedman and other Wood shareholders. The purchase price is 1.850 billion pounds or about U.S. $2.8 billion. The deal will include a combination of about $2 billion in debt and up to $800 million in equity, Verisk said. Verisk, of Edinburgh, United Kingdom, provides data analytics and commercial intelligence for the energy, chemicals, metals and mining verticals. Morgan Stanley and BofA Merrill Lynch provided financial advice to Verisk while Deutsche Bank and Lazard advised Wood Mackenzie.

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