Scott Sperling, Co-President of THL Partners, appeared on The Faber Report this morning to discuss the return of deal financing and, in turn, LBOs. He commented that even though high yield is killing it and CLOs are starting to inch back, buyout pros need to exercise caution when executing LBOs. "The thing we need to be careful about is not to make the mistakes that we an an industry made in '07, which is, we used better financing in order to pay more for companies beyond their inherent fundamental values," he said. THL has done one of the largest deals of the year with its February acquisition of CKE Restaurants, for $928 million.
Crisis Prevention Institute, a portfolio company of The Riverside Co., has acquired Positive Options, a UK-based provider of crisis-related diagnostic services, education and training since 2004.
Catterton Partners has agreed to sell Liberty Safe and Security Products Inc., a Payson, Utah-based gun safe manufacturer, to Compass Diversified Holdings. The deal is valued at approximately $70 million. Baird managed the sell-side process.
Attends Healthcare Inc., a maker of adult incontinence products, has raised $98 million in new financing for a recapitalization. The deal includes a $20 million asset-based revolving credit facility from Wells Fargo Capital Finance and $78 million in term loans from Regiment Capital. Proceeds will be used to refinance existing debt and to fund a $60 million distribution to shareholders like KPS Capital Partners.
HHI Group Holdings, a maker of forged parts for power train and wheel-end applications, has raised $300 million in new financing for a recapitalization. The deal includes a $100 million revolving credit facility and a $200 million term loan. Proceeds will be used to refinance existing debt and to fund a $150 million distribution to shareholders like KPS Capital Partners and MC Capital.
KKR has joined Triton on its previously-announced €850 million acquisition of Nordic care home operator Ambea from 3i Group. The two firms will be 50-50 partners on the deal, which closed yesterday.
TA Associates has acquired a majority stake in British lifestyle brand Cath Kidston. No financial terms were disclosed.
March 31 (Reuters) – Ameresco Inc, which provides energy efficiency solutions in North America, filed with U.S. regulators on Wednesday to raise up to $125 million in an initial public offering of common stock. The Framingham, Massachusetts-based company told the U.S Securities and Exchange Commission in a preliminary prospectus that Bank of America-Merrill Lynch, RBC […]
NEW YORK (Reuters) – Citigroup Inc’s (C.N) life insurance unit, Primerica Inc, priced shares in its initial public offering above the expected range in a larger-than-anticipated deal. The company sold 21.36 million shares for $15 each, raising about $320.4 million. It had planned to sell 18 million shares for $12 to $14 each. Primerica sells […]
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