Olympus Capital Investments has sponsored a recapitalization of J.W. Hulme Co., a St. Paul, Minn.-based maker of leather and canvas bags and accessories. No financial terms were disclosed.
Addus Homecare Corp., a Palatine, Ill.-based provider of social and medical services in the home, has set its IPO terms to five million common shares being offered at between $11 and $13 per share. It would have an initial market cap of approximately $131 million, were it to price at the high end of its […]
NEW YORK (Reuters) – Education Management Corp (EDMC.O), a provider of post-secondary education, said on Thursday that shares in its initial public offering priced for $18 each, at the bottom of the range. The private equity backed company sold 20 million shares and said it expects net proceeds of $334.8 million. The company runs 92 […]
Bob Dylan Sells (Out): He's teaming up with Citigroup to release his Christmas album. (Cityfile) Just Friedman? Hellman & Friedman co-founder Warren Hellman is stepping down. (Reuters) M&A is BACK! Or, at least, Confidence in M&A. Or at least, M&A has hit its cyclical trough and is starting a slow slog back up. (Deal Journal) Lessons From U.S. For Private Equity: The United States buyout firms did better damage control than European firms in the credit crisis and have had more success than European firms. (Breakingviews)
Golden Gate Capital has agreed to acquire Hollywood, Fla.-based Devcon Security, according to Security Systems News. No financial terms were disclosed. Devcon is a provider of installation, monitoring and related electronic security services. It had been publicly traded on the OTC bulletin board until deregistering its securities last October. Update: Devcon has now confirmed the news. Press […]
NEW YORK (Reuters) – Talecris Biotherapeutics Holdings Corp (TLCR.O) shares rose 13.3 percent in their trading debut following the Cerberus-backed company’s initial public offering, the largest by a biopharmaceuticals company in three years. Talecris, which produces plasma-based protein therapies, raised $950 million in its IPO on Wednesday. The shares stood at $21.52 in midday Nasdaq […]
NEW YORK (Reuters) – Kraton Performance Polymers Inc, a maker of polymers used in products such as disposable baby diapers and razor blades, plans to raise as much as $230 million in an initial public offering. Houston-based Kraton is owned indirectly by units of private equity firm TPG Capital and JP Morgan Chase & Co’s […]
#1. Station Casinos The Las Vegas-based casino company was acquired by Colony Capital LLC and the Fertitta family in 2007 for $8.9 billion. The firm invested $2.7 billion in equity across Colony Investors VII and Colony Investors VIII. What Went Wrong? With more than $5.285 billion in debt, the company could not sustain the prolonged […]
#3. Chrysler LLC Cerberus Capital Management purchased Detroit-based Chrysler for $7.4 billion in 2007. The firm invested up to $1.2 billion in equity in Chrysler and GMAC, its financing arm from Cerberus Institutional Partners LP Series IV. What Went Wrong? Everyone knows this story by heart, but we’ll summarize it anyways. The deal heralded Cerberus […]
#2. Extended Stay Inc. Lightstone Group LLC purchased the Spartanburg, South Carolina-based hotel company in 2008 for $8 billion. The firm invested $600 million in equity from an undisclosed fund. What Went Wrong? With $7.4 billion in debt, the company collapsed as hotel industry prices declined around the country to stay competitive in a recession. […]