The third quarter ends in just a few hours, so we'll jump the gun with official deal data from Thomson Reuters (which just happens to be our publisher). Global private equity volume came in at over $37.84 billion for 641 deals, compared to $15.92 billion for 573 deals during the previous quarter. This easily represents the busiest quarter for private equity since Q3 2008, when over $55 billion was transacted. (Note: The Q3 figure includes agreed-upon deals that have not yet closed, like Skype). It's important to keep the bump in context, however, by emphasizing that private equity activity during the first nine months of 2009 is 66.9% lower than it was during the first nine months of
Zombie Companies: Companies owned by private equity firms, particularly the number two or three in their sector, are at risk of becoming zombie companies because of their high debt levels and the lack of interest in such firms from equity investors. (Dealzone) MBA Pay: Riches for Some, Not All: Schools publish average salary figures that suggest most grads will reap rich rewards, but for many the "average" is a distant dream (BW) A for Effort/F For Execution: Every buyout firm wants to do loan-to-owns these days, but not many have. (Reuters) (PS Here's some good advice on how one firm made it work.) Icahn To The Rescue: Apollo-backed Realogy is a fixer-upper, and Carl Icahn has tapped Carl Icahn to help it pay down some of its debt. (NY Post) Yesterday we mentioned the NY Mag Expose on the finance blog, Zero Hedge. Today Felix Salmon talked to the author about the backlash he's received for his relatively innocuous but interesting story. (Reuters)
The value of M&A deals is on track to plummet almost 46 percent this year, taking them down to levels not seen since the mid-1990s, according to a report published today by The Boston Consulting Group (BCG). Only 12,700 transactions were conducted in the first six months of the year—a drop of 17 percent compared […]
Cortec Group has acquired a majority interest in Katena Products Inc., a Denville, N.J.-based maker of micro instruments for ophthalmic surgeries of the anterior segment of the eye. No financial terms were disclosed. Investment bank The Walden Group represented Katena Products.
Court Square Capital Partners has quietly invested in Rocket Software, a Boston-area maker of enterprise infrastructure software. The deal was disclosed in a notice on the Federal Trade Commission website, indicating the it had received early termination of the Hart-Scott-Rodino waiting period. This is Court Square's first investment in Rocket, which was founded 19 years ago to developer and deliver software solutions to IBM mainframe customers deploying DB2 databse servers. Rocket soon licensed its IP to IBM, and had its products rebranded.
ApoCell Inc., a Houston, Texas-based provider of molecular diagnostics, has raised an undisclosed amount of private equity funding from Summit Partners. PRESS RELEASE ApoCell, Inc., a specialized molecular diagnostics laboratory that analyzes the effectiveness of new compounds for the world’s leading pharmaceutical and biotechnology companies, announced today that it has received an investment from growth […]
Navigation Capital Partners has sponsored a recapitalization of portfolio company Five Star Food Service, a Chattanooga, Tenn.-based provider of vending, coffee and food services. The deal increases Navigation's majority stake, although no financial terms were disclosed.
Mid Europa Partners has agreed to acquire Invitel Holdings AS (AMEX: IHO), a fixed-line telecom and broadband internet services provider in the Republic of Hungary. The deal would involve three separate transactions: Mid Europa would pay $10.8 million to TDC AS for its 64.6% stake in Invitel; Mid Europa would purchase all of TDC’s rights and obligations under a €34.1 million subordinated PIK loan (which would be increased up to €91.4 million); and Mid Europa would launch a tender offer for the outstanding €125 million floating rate senior PIK notes due 2013 (held by Invitel).
NEW YORK, Sept 29 (Reuters) – Ladder Capital Realty Finance Inc (LCG.N) shelved its planned initial public offering indefinitely, becoming the latest mortgage real estate investment trust (REIT) to struggle in its efforts to come to market. Ladder Capital was seeking to raise $400 million with which to originate, buy and manage a portfolio of […]
MUMBAI (Reuters) – Private equity firms Carlyle Group and 3i (III.L) are among those holding preliminary discussions to take a minority stake in India’s Strides Arcolab’s (STAR.BO) injectables business, the Economic Times reported on Wednesday, citing banking sources. The Indian drug maker has hired investment bank Lazard (LAZ.N) and expects to raise between $170 million […]