Key Bridge Partners has acquired U.S. Para Plate Car Wash from a unit of CIRCOR International (NYSE: CIR). No financial terms were disclosed. U.S. Para Plate makes components used in commercial car wash systems.
Yesterday we reported that Doug Dossey left his position as managing director at mid-market buyout firm FdG Associates to take a position with Blum Capital. Today I’ve got more details. Dossey made the move in August after Blum Capital approached him in March, possibly as a result of attention from his work on the firm’s buyout of infrastructure company Joseph B. Fay & Co. In an interview with peHUB, Dossey said he wasn’t looking to leave the firm he spent 11 years with, but found the prospects of Blum Capital's buyout segment intriguing. As a partner with Blum Capital, he is charged with “re-energizing” the firm’s private equity business.
Law firm Nixon Peabody today released its 8th annual MAC Survey, which looks at material adverse change provisions in M&A deals worth $100 million or more. It found that while MAC provisions are more buyer-friendly today than they were five or six years ago, the current conditions are too "splintered" to accurately describe as buyer-friendly or seller-friendly. The results show relatively little change between 2008 and 2009, except in two areas: First, there was a 24% increase in the number of MAC exceptions for "changes in trading price or trading volume of a company's stock." There also was an unspecified rise in MAC exceptions for changes in exchange rates and/or interest rates. You can view the entire survey after the jump...
Odyssey Investment Partners has completed its previously-announced acquisition of Waukesha, Wis.-based scaffholding company Safway from ThyssenKrupp AG. No financial terms were disclosed.
Kraton Performance Polymers, a Houston-based maker of polymers used in products such as disposable baby diapers and razor blades, raised $139 million in its IPO. The company priced served as lead underwriter. Shareholders include TPG Capital and JPMorgan Partners.
NEW YORK (Reuters) – Cobalt International Energy Inc (CIE.N) shares finished their first day of trading exactly where they priced in the company’s initial public offering. Cobalt shares opened at $13.25 and traded down as much as 7.4 percent early on the New York Stock Exchange before recovering to close at $13.50. On Tuesday, the […]
NEW YORK (Reuters) – Team Health Holdings Inc (TMH.N) shares jumped in their debut on Wednesday, making up some of the ground the hospital staffing company lost when its initial public offering priced well below expectations in a downsized deal. Shares of Team Health, which is majority owned by private equity firm Blackstone Group (BX.N), […]
LONDON (Reuters) – Private-equity investor Bridgepoint Capital Ltd has upped its offer for Care UK (CUK.L), valuing the health and social care provider at between 275 million and 300 million pounds ($491 million), the Financial Times reported on Thursday. In September, Care UK said it had rejected an unsolicited approach from Bridgepoint, describing it as […]
NEW YORK (Reuters) – Private equity firm Apollo Management on Wednesday said it has agreed to buy Ohio theme-park company Cedar Fair (FUN.N) for $635 million. The total transaction is valued at $2.4 billion including the refinancing of the company’s outstanding debt. Shareholders of the Sandusky, Ohio-based company would receive $11.50 in cash for each […]
COPENHAGEN (Reuters) – Danish ambulance service, rescue and safety group Falck said on Thursday its private equity owners were preparing an initial public offering of stock in the company. The principal shareholders are Nordic Capital Fund V and ATP Private Equity Partners. “The board is currently in the process of selecting advisers for the company’s […]