INC Research, which is backed by Avista Capital Partners and Ontario Teachers' Pension, has agreed to buy Kendle International in a deal valued at about $232 million. JP Morgan Securities advised Kendle while Morgan Stanley served as financial advisor to INC Research.
What companies are prime candidates for a takeover? American Eagle, Akamai Technologies and Synovus Financial made a top 10 list of companies that Morningstar thinks could get bought out. Other contenders include Clearwire Corp., Cloud Peak Energy, Leap Wireless, Myriad Genetics, Petrohawk Energy and Range Resources.
Sun Capital Partners has exited its Big 10 Tires investment, selling it to Pep Boys, the automotive aftermarket service and retail chain that itself considered selling before failing to get a sufficient bid. The private equity firm acquired Big 10 through an affiliate in 2006. Morgan, Lewis & Bockius LLP acted as legal advisor to the sellers in connection with the transaction.
Black Diamond Capital Management LLC, the alternative asset management firm based in Connecticut, has raised a $800 million third fund. The fund will execute the same control distressed/private equity strategy initiated with the establishment of Black Diamond's 2003 vintage fund.
KKR has made its way onto Fortune's list of top 500 companies. The New York-based buyout shop clocked in at No. 256 on a list headed by Wal-Mart Stores and Exxon Mobil. KKR made the list because of an accounting oddity, according to our former jefe, Dan Primack. KKR has two sources of revenue: fees (about $435 million) and investment income ($9.18 billion). By combining both of these, and adding $53 million in interest expense, KKR had about $9.67 billion in revenue, Fortune said. But KKR shouldn’t be on the list, Dan says. To comply with GAAP, KKR consolidates the majority of its funds, which produces the $9.18 billion figure. This total includes the 20% in carried interest that KKR is entitled to and money that KKR -- the other 80% -- shouldn't be counting as it own (at least that what I think it does).
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Reuters reported Lion Capital LLP of London and Goode Partners LLC of New York signed an agreement to acquire have reached an agreement to buy brand AllSaints Spitalfields. Financial terms were not disclosed. AllSaints is a British fashion brand.
Sagent Advisors lured Mark Kessel to join its practice as a senior advisor in its healthcare segment, the bank announced. Kessel comes to Sagent after having founded Symphony Capital, a PE firm with a focus on biopharmaceutical companies.
Essent Healthcare has sold a pair of Massachusetts hospitals to Steward Healthcare System LLC of Boston. Essent is a portfolio company of Vestar Capital Partners. The PE firm invested in the hospital system through its fourth fund.
GoBackTV, the Menlo Park, Calif.-based stream-based video services firm, has been acquired by Santa Clara, Calif.-based Aurora Networks. Terms of the deal were not publicized. TA Associates is the private equity firm investing in Aurora Networks. PRESS RELEASE: Aurora Networks Acquires GoBackTV to Round out Technology Expertise Related to DOCSIS® and Edge QAMs Aurora Networks, […]