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.


Indoor cycling fitness chain SoulCycle files for IPO: Reuters

Indoor cycling fitness chain SoulCycle Inc filed with U.S. regulators for an initial public offering of common stock, underscoring the rising popularity of boutique chains that cater to specific workout methods such as spinning, yoga and barre, Reuters News reported.


Leonard Green, TPG and others complete take-private acquisition of Life Time Fitness

An investor group led by Leonard Green & Partners and TPG has closed its previously announced take-private buy of Chanhassen, Minnesota-based health club chain Life Time Fitness Inc. The deal is valued at more than $4 billion. Also, LNK Partners and Bahram Akradi, chairman and CEO of Life Time, were among the transaction’s key investors. As a result of the acquisition’s completion, Life Time has stopped trading on the New York Stock Exchange.


American Securities recaps Aspen Dental

American Securities has recapitalized Aspen Dental. Leonard Green & Partners is the seller. Financial terms weren’t announced. Green acquired Aspen Dental in 2010. Aspen provides non-clinical business support services to dental practices in approximately 30 states.


Leonard Green to sell Scitor for $790 mln

Science Applications International Corp. said Sunday it has agreed to buy Scitor Corp. from Leonard Green & Partners for $790 milLion cash. SAIC’s board has approved the deal, which is expected to close in May. Reston, Virginia-based Scitor provides engineering, management consulting and information services to federal and commercial industries in the U.S. Citigroup Global Markets advised Scitor while Sagent Advisors provided financial advice to Leonard Green.


Fast food restaurant chain Shake Shack files for IPO-Reuters

Fast food chain Shake Shack Inc, which grew out of a hot dog stand in New York’s Madison Square Park, has filed for an initial public offering at a time when stock offerings by casual restaurants have proven to be a big hit with investors, Reuters reported.


Leonard Green closes buy of Packers Holdings

Leonard Green & Partners has completed its buy of Packers Holdings from Harvest Partners. Financial terms weren’t announced. Kieler, Wis.-based Packers provides sanitation for more than 450 food processing plants every day. Harris Williams & Co. and Moelis & Co. provided financial advice to Packers. Morgan Stanley Senior Funding, General Electric Capital Corp. and Crescent Mezzanine provided financing.

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