GI Partners has sponsored a recapitalization of AdvoServ, an operator of residential group homes and related education programs for the treatment of individuals with intellectual and developmental disabilities and severe behavioral challenges. No financial terms were disclosed.
NEW YORK (Reuters) – New York-based Kohlberg Kravis Roberts & Co (KKR.AS) is leading a consortium planning to invest a total of around 10 billion rupees ($219.5 million) in India’s Coffee Day Resorts, owner of coffee chain Cafe Coffee Day, according to a source close to the deal. KKR, Standard Chartered Private Equity and New […]
(Reuters) – Russell Glass, founder and head of New York investment firm RDG Capital, has offered to buy the Japanese-themed restaurant Benihana Inc (BNHN.O) for $7 a share, the NY Post said, citing a person familiar with the matter. Benihana shares closed on Monday at $5.88. The deal values the company at $20.1 million, the […]
* Running a Company, but Can't Open an Attachment. Dick Fuld is blaming the Repo 105 mess on the fact that he can't open an email attachment on his phone. (FINS) *The club deal lawsuit rages (or should I say sputters) on through its 3rd appeal. (Deal Journal) * Barclay's Defines the word "Jerks" Loosely. (Daily Intel) * Top ten works of journalism from the decade. (NYU) *Avatar will make $400 million for News Corp. It'll also net a tidy profit for Dune Capital, a private equity firm. (Bloomberg)
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. Mobile content provider "Jamster," doing business as Jamba, is being sold by its parent company, News Corporation, mergermarket reported. Swoozie's Inc., a maker of luxury gifts and stationery that filed for bankruptcy just weeks ago, will put itself up for sale at an auction on March 25, the company said on Monday. (Reuters)
MagnaChip Semiconductor LLC, a South Korean maker of analog and mixed-signal semiconductor products for high-volume consumer applications, has filed for a $250 million IPO. It plans to trade on the NYSE under ticker symbol MX, with Goldman Sachs, Barclays Capital and Deutsche Bank Securities serving as co-lead underwriters. The company previously filed for a $575 […]
MUNICH/FRANKFURT (Reuters) – German industrial conglomerate Siemens has decided to scrap plans to sell its hearing aid unit because bids were too low, two sources familiar with the matter said. The formal decision will be made in the next few days, most likely on Tuesday or Wednesday, they told Reuters on Monday, adding Siemens Healthcare […]
GTCR has acquired Athletic & Therapeutic Institute, an Illinois-based operator of 44 outpatient physical therapy centers, from KRG Capital Partners and Norwest Mezzanine Partners. No financial terms were disclosed. peHUB reported on the deal earlier this month.
Contrary to conventional wisdom, brands really can travel uphill. Apax Partners' successful ownership of apparel company Tommy Hilfiger is living proof. When the buyout firm took Tommy Hilfiger private in 2006, Tommy-branded apparel was being sold by warehouse outlet stores at deep discounts. Apax saw value in its international operations, and plunked down $450 million in equity for a total deal value of $1.6 billion. The firm promoted Fred Gehring from head of Europe to CEO, and embarked on two years of intense turnaround execution. Apax and Tommy's management sold its distribution business, acquired of licensees and aggressively expanded stores. Furthermore, Apax helped return Tommy Hilfiger to its status as a higher-end apparel brand by cutting back lower-end distribution and improving product quality. Ebitda increased by 42 percent under Apax's ownership, and debt fell from 4.3x Ebitda to 1.5x. That all happened in a matter of two years.
Senior Care Centers of America, a Clearview Capital portfolio company, has acquired Wilkes-Barre, Penn.-based Valley Crest Adult Day Care. The transaction closed on January 8, and is the fifth acquisition made by Senior Care since Clearview Capital's initial investment in 2005.