First read Feb 24

peHUB First Read

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.


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.

PE-backed Intermedix Corp completes Optima Corp acquisition

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.


Thomas H. Lee Partners and Goldman Sachs sell MoneyGram shares via secondary offering

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 paying 10.4x cash flow for Spain’s Ono: Reuters

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.

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