We’ve had a terrific turnout for our Buyouts East conference in Cambridge, Mass., which runs today and tomorrow. For those who weren’t able to make it, here are three highlights.
Comdata has put its Stored Value Solutions (SVS) unit up for sale, sources told peHUB. The auction is expected to generate interest from PE firms.
The Massachusetts Pension Reserves Investment Management Board has approved a list of five private equity firms with which the system can co-invest.
Private firm Thomas H. Lee Partners LP is in discussions to acquire U.S. hospice firm Curo Health Services from private equity firm GTCR LLC, Reuters News reported, in a deal that could top $700 million, including debt.
TransFirst, backed by Welsh, Carson, Anderson & Stowe, has filed to go public.
Blackstone Group LP, KKR & Co LP and TPG Capital LP are in talks to settle a U.S. lawsuit accusing them of conspiring not to outbid each other and other buyout firms on takeovers of companies, two people familiar with the matter said on Thursday.
This Tuesday morning read all about CalPERS’ former CEO pleading guilty to conspiracy, where buyout firm partners get their MBAs and City of Austin Employees’ Retirement System is seeking an executive director.
Surprise! Large buyout shops, which typically shoveled huge amounts of debt onto their portfolio companies during the so-called bubble years, actually did OK in terms of default rates.
Private equity firm Thomas H. Lee Partners has teamed up with Bret Quigley and Adam Meyerowitz to launch Prime Risk Partners. THL plans to invest up to $200 million. Based in Atlanta, Prime Risk Partners seeks to become a national insurance distribution firm.
Everyone, including Oprah, is apparently interested in bidding for the L.A. Clippers. But it’s not clear if private equity is interested.
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.
Intermedix Corp., a portfolio company of Thomas H. Lee Partners, has closed its buy of Optima Corp. No financial terms were disclosed. Based in Auckland, New Zealand, Optima is a provider of technology that supports simulation, predictive analytics and real-time deployment of mobile resources.
GrubHub Inc’s initial public offering was priced at $26 per share, slightly above an already raised price range, valuing the biggest U.S. online food delivery services company at about $2.04 billion, Reuters reported.
Money transfer firm MoneyGram has priced its secondary offering of 8 million shares at $16.50 per share. The shares are being sold by stockholders Thomas H. Lee Partners and Goldman Sachs. BofA Merrill Lynch, Wells Fargo Securities, Goldman Sachs, and J.P. Morgan are the lead underwriters. Also, upon closing of the transaction, which is expected to occur on April 2, 2014, MoneyGram will repurchase over 8.1 million shares of common stock from Thomas H. Lee Partners at $16.25 per share in a private placement.
Vodafone has agreed to buy Spain’s largest cable operator, Ono , for 7.2 billion euros ($10 billion), the latest hefty deal in a European telecoms sector starting to rebuild as the region recovers from a recession, sister news service Reuters reported. Ono is 54 percent owned by a group of large buyout shops.
British telecom group Vodafone has reached a preliminary deal to buy Spanish cable group Ono after raising its initial bid for the company, two people with knowledge of the discussions told sister news service Reuters.
inVentiv Health has named a senior executive in India’s life sciences industry to lead its expanding operations in India. Anita Tripathy joins inVentiv Health from Capgemini, India, where she served on the leadership team of the global provider of consulting, technology and outsourcing services. The company is privately owned by inVentiv Group Holdings, an organization sponsored by affiliates of Thomas H. Lee Partners, Liberty Lane Partners and members of the inVentiv management team.
Thomas H. Lee Partners, which has yet to begin fundraising for its next buyout fund, is reportedly putting 30% equity into its $1.1 billion purchase of CompuCom Systems.