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PE-owned IMS Health raises $1.3 bln for IPO

IMS Health has launched its IPO of 65 million shares after pricing it at $20 per share. The stock began trading Friday on the NYSE under the ticker symbol “IMS.” J.P. Morgan Securities, Goldman Sachs and Morgan Stanley & Co. are the lead underwriters. Headquartered in Danbury, Conn., IMS Health is a global information and technology services firm that focuses on the healthcare sector. It is owned by TPG Capital, CPP Investment Board and Leonard Green & Partners.

Reuters – Best Buy Spurns $1bn Minority Investment

Best Buy Co has turned down a $1 billion minority investment proposal by founder Richard Schulze‘s three private equity partners, writes Reuters. Under the proposal, Leonard Green Partners, Cerberus Capital Management and TPG Capital would have each received a seat on the board of the world’s largest electronics retailer, writes Reuters.

Investcorp Realizes CCC Investment

Investcorp has completed the sale of CCC Information Services to Leonard Green & Partners. CCC is a provider of advanced software and workflow tools to the insurance automotive claims and collision repair industries. The sale unlocks over $550 million in proceeds for Investcorp and its investors.

CCC Backed by Leonard Green & Partners

Leonard Green & Partners is to acquire a controlling interest in CCC Information Services from Investcorp. CCC is a provider of advanced software and workflow tools to the insurance automotive claims and collision repair industries. Committed debt financing has been provided by certain affiliates of Goldman Sachs, including its principal mezzanine funds and J.P. Morgan.

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J.W. Childs to Make Roughly 5x Their Money with CHG Sale

Once a firm passes into zombieland can it ever come back? J.W. Childs Associates may have something to say about that. Leonard Green & Partners and Ares Management are buying CHG Healthcare Services, a Salt Lake City-based healthcare staffing firm, that is majority owned by J.W. Childs.

GE Antares Capital Provides $405 Million Credit Facility for Tank Holdings Acquisition

GE Antares, a Chicago-based unit of GE Capital, provided a $405 million senior credit facility to support Leonard Green & Partners’ acquisition of Tank Holdings, a manufacturer of rotational polyethylene and steel storage tanks and containers. Leonard Green is an L.A.-based private equity firm. PRESS RELEASE: GE Antares, a unit of GE Capital, announced today it […]

Leonard Green Inks Buy of Tank Holdings

Olympus Partners has agreed to sell Tank Holdings Corp. to Leonard Green & Partners. The deal is expected to be completed in third quarter. Financial terms weren’t announced. Tank makes and designs proprietary rotationally-molded polyethylene and steel containers. Gary Matt, Richard Siegel, Hank Johnson and Nick Parks of Barclays advised Tank and Olympus. PRESS RELEASE […]

Leonard Green & Partners Closes Above Target

Leonard Green & Partners has closed its sixth private equity investment fund, Green Equity Investors VI. GEI VI exceeded its original target, closing at its hard cap of $6 billion in limited partner commitments along with $250 million from affiliates of LGP. PRESS RELEASE Leonard Green & Partners, L.P. (“LGP”) today announced the closing of […]

Minnesota Investment Board Pledges $625M To Four Funds

The Minnesota State Board of Investment, which manages $57.5 billion for several state pension funds, has been ramping-up its private equity program during the last several months, pledging $625 million to four funds at its most recent meeting.

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