Rural/Metro Corp. said that stockholders have voted to approve its sale to Warburg Pincus. About 72.27% of voting power approved the merger agreement, the company said Monday. In March, Rural/Metro announced it had agreed to be sold to Warburg for $17.25 a share. The sale is expected to close on June 30. PRESS RELEASE Rural/Metro […]
(Reuters) – Green is back in venture capital circles — but call it light green. Having placed big bets on capital-intensive industries like solar and ethanol just as the financial crisis quashed interest in risky new technologies, early-stage investors these days have a limited appetite for startups that need large amounts of cash to bring […]
(Reuters) - Philadelphia-based women's clothing retailer Deb Shops Inc filed for bankruptcy protection in a Delaware court on Sunday as part of a financial restructuring that involves selling the company to a group of senior lenders. Abelco Finance provided a stalking horse bid; Lee Equity will also receive a stake in the company going forward.
Investor confidence in venture capital is at an all-time high. The unusually strong IPO market and its pent-up pipeline is due, in part, to the tremendous success of LinkedIn’s recent public market debut. The professional social network’s shares skyrocketed to a high of $92.99 per share from its opening of $45, establishing a market value […]
Merlin Media, which is backed by GTCR, said Monday that Walter Sabo was named COO. GTCR formed Merlin to buy majority stakes in three radio stations owned by Emmis Communications.
Versa Capital Management has acquired the assets of Böwe Bell + Howell to form Bell and Howell LLC. Financial terms were not disclosed. Access Value Investors is coinvesting, a statement said. Bell and Howell provides solutions and services for paper-based and digital messaging.
Cornerstone Records Management, which is backed by Sterling Partners, has bought MedResolutions Corp. Financial terms weren't announced. MedResolutions, of Pinehurst, Texas, specializes in secured storage of hardcopy records, medical release of information (ROI) services and document scanning.
Worldwide M&A increased 40% to $1.4 trillion for global announced transactions, according to data from Thomson Reuters. Surprisingly, second quarter's results showed a slow down. Second quarter announced M&A dropped 22% to $611 billion from Q1's $791 billion, Thomson Reuters said. Buyouts were more positive. Globally, PE-backed M&A hit $112.2 billion during the first half of this year, a 40% boost from the same time period in 2010. U.S. targets accounted for 41% of first half activity, Thomson Reuters said. There's been a lot of talk about when large LBOs will return. We have yet to see a $10 billion-plus deal hit the market. We did get close, though (you have to look at the list to find out). So what was were the largest buyouts this year? Here's a ranking of the top 10 PE-backed transactions so far in 2011, according to Thomson Reuters.
Boston-based private equity firm Audax Group completed its buy of the Elgin Equipment Group, an Illinois-based maker of material processing parts for coal, oil and gas applications. Specifics on the deal were not publicized. Lincoln International advised Elgin. Kirkland & Ellis LLP served as counsel to Audax Group. GE Antares Capital, Madison Capital Funding, and BMO Capital Markets led the senior debt financing and PNC Mezzanine led the subordinated debt financing to support the transaction.
NEW YORK, June 27 (Reuters) – LivingSocial bought three online daily deal websites spanning Asia and the Middle East and started a site in the Netherlands as part of its plan to expand globally, the company said on Monday. The acquisitions of Ensogo, DealKeren and GoNabit expand LivingSocial’s market to 21 countries from 13. “This […]