As we look back at the dreadful deal environment of 2008, we wonder what’s in store in 2009 and beyond? What did we learn, if anything, from our battle scars? When will we return to the good old carefree days of private equity? Actually, my hope is never! What we saw in the so-called “golden […]
Aquiline Capital Partners has invested an undisclosed amount in HedgeServ Holding LP, a hedge fund and fund-of-hedge fund administrator with offices in New York and Dublin, Ireland.
Shari’s, an operator of 24-hour family dining restaurants in the Northwestern U.S., has acquired four Bakers Square locations in the San Francisco area, from Vicorp Restaurants Inc. No financial terms were disclosed. The restaurants will be rebranded over the next several weeks. Circle Peak Capital led a buyout of Shari’s in 2005, while Vicorp is a Wind Point Partners portfolio company that filed for Chapter 11 bankruptcy protection last April.
Calyx Transportation Group Inc., a transportation and logistics company majority-owned by Wynnchurch Capital Partners, has made three acquisitions: Totalline Transport, Kreative Carriers Transportation & Logistics Services Inc. and Bransam Logistics Services Inc. No financial terms were disclosed. Each of the acquired companies will become separate operating subsidiaries of Calyx Transportation.
Vicente Capital Partners has raised $15 million in additional commitments for its debut growth equity fund, bringing the total to $165 million. New LPs include Credit Suisse and the State of Connecticut. Los Angeles-based Vicente will invest between $5 million and $15 million in companies that have between $2 million and $25 million in revenue and up to $5 million of EBITDA. Vicente was previously known as Kline Hawkes & Co., although Frank Kline is not part of the new effort. In related news, Vicente announced its first portfolio company: MedBridge Healthcare, a Greenville, S.C.-based provider of sleep diagnostic and respiratory therapy services.
NEW YORK (Reuters) – Aleris International Inc [TXPACA.UL] will get court approval for more than $1 billion in bankruptcy financing to keep the maker of aluminum rolled products operating as it restructures its debt, sources said on Tuesday. A lender group led by Deutsche Bank AG (DBKGn.DE) will provide about $500 million of fresh financing, […]
NEW YORK (Reuters) – Motor home maker Fleetwood Enterprises Inc (FLTWQ.OB) is negotiating with Bank of America (BAC.N) for bankruptcy financing and hopes to present a plan to a bankruptcy court as early as next week, according to court documents. Company spokeswoman Rivian Bell was not able to specify the amount of debtor-in-possession financing being […]
NEW YORK (Reuters) – Thornburg Mortgage Inc (THMR.PK), a large and troubled provider of “jumbo” mortgage loans, on Tuesday said it may file for Chapter 11 bankruptcy protection. The Santa Fe, New Mexico-based company has struggled with liquidity problems since the summer of 2007, when the value of mortgages on its balance sheet began to […]
Loving Care Agency Inc., a provider of pediatric nursing and home health aides, has acquired six homecare branches from Gentiva Health Services Inc. (Nasdaq: GTIV). No financial terms were disclosed for the deal, which includes branches in Arizona, Pennsylvania and Massachusetts. LCA sponsors MTS Health Investors and Oaktree Capital Management provided equity for the transaction, while BMO Capital Markets and Siemens Financial Services provided debt.
NEW YORK (Reuters) – Harrah’s Entertainment Inc., one of the world’s largest casino operators, said on Tuesday it could not guarantee that it will generate enough cash to meet its debt payments due to a deep recession. The operator of 53 casinos may not be able to borrow to fund its operations, and it may […]