Navigation Capital Partners has acquired prepaid and debit solutions provider Prepaid Solutions USA from West Suburban Bank. No financial terms were disclosed. SunTrust Robinson Humphrey advised Navigation on the deal.
Hellman & Friedman and JMI Equity have completed their acquisition of Datatel Inc., a Fairfax, Va.-based provider of enterprise information management solutions for higher education institutions. No financial terms were disclosed, although peHUB previously reported a sale price of approximately $570 million. Sellers include Thoma Bravo, Trident Capital, HarbourVest Partners and JP Morgan Asset Management -- which sponsored a management buyout of Datatel in early 2005.
KAR Auction Services Inc., a Carmel, Ind.-based provider of vehicle auction services in North America, raised approximately $300 million via its IPO. The company priced around 25 million common shares at $12 per share, compared to its plans to sell 23 million shares at between $15 and $17 per share. KAR plans to trade on the NYSE […]
NEW YORK (Reuters) – Two Chinese companies struggled to gain a foothold in the U.S. equity markets on Thursday, with one falling as much as 11.1 percent in its first day of trading and another withdrawing its initial offering altogether. Chinese thin film solar company Trony Solar Holdings Co Ltd (TRO.N) postponed indefinitely its IPO […]
LONDON/STOCKHOLM (Reuters) – Swedish private equity firm EQT and the Singapore government are buying Springer Science and Business Media, allowing an exit for the two UK buyout firms that have owned the debt-laden business since 2003. EQT, closely linked with Sweden’s powerful Wallenberg family and its Investor (INVEb.ST) group, said on Friday it would buy […]
HONG KONG (Reuters) – French insurer AXA (AXAF.PA) has put the auction of its 15.6 percent stake in China’s Taikang Life on hold on growning concerns that some potential buyers may be restricted under rules proposed by the insurance regulator, sources with direct knowledge of the matter said on Friday. The French insurer’s sale of […]
Be Happy You're Not Blackstone Rich: That may lead you to getting blackmailed, as David Blitzer an MD with the firm learned. (WSJ) Well That's Over. Kinda. CIT is out of bankruptcy and trading on the public markets again, and excited traders are trading it up. (Money Game) Second Acts: Could Eliot Spitzer Run for Comptroller? I mean, seriously? By the way, click through to this story just to see that the Post has not disappointed in its choice of accompanying photo of the disgraced governor. (NY Post) Myths: Has the link between testosterone and aggressive trading been blown out of proportion? Hint: Yes. (Naked Capitalism)
After the September 2008, no one knew what to expect in the upcoming week, let alone the next month or year. That uncertainty led to a lot of freaking out over nothing this year, and private equity had its fair share of false alarms. Here are five “trends” that had buyout barons shaking in their boots, but ended up being no big deal at all. (Literally! Get it? There were no big deals? Anywaaaaays...)
In the last week, two firms have released surveys gauging LP interest in private equity. I imagine they each looked something like this: To: LPs
Do you like me? Circle one: YES NO
From: GPs In one study, the LPs circled "no," and in another, they circled "yes." So which is it? Will investors back buyout firms next year or not?
Here are some potential M&A ideas, rumored or official, to jumpstart your deal pipeline. Our sources are various news reports and the Buyouts “Seeking Buyers” list. For prior lists, see below. IPL Inc., a Canadian manufacturer of plastic products, has constituted a strategic review committee of independent directors to investigate and evaluate the various strategic alternatives IPL. IPL has retained Ernst & Young Orenda Corporate Finance Inc. as advisors to assist in this process. TCW Group is selling $450 million of mortgage-backed securities. The bids were taken on December 8. The securities include Alt-A and prime-jumbo mortgage bonds held by the Los Angeles-based company's TCW Total Return Bond Fund and TCW Galileo Total Return Bond Fund. Dow Chemical and BASF are seeking buyers for styrene-making segments of their businesses.