After seven years, Code Hennessy & Simmons is preparing to exit GSE Environmental, two sources say. Code Hennessy, a Chicago PE firm, is considering a dual track strategy for GSE. It is currently interviewing bankers for a sale of the company and an IPO, the sources say. Any transaction will likely occur later this year, one person says.
Connecticut-based Westport Capital Partners and Hong Kong developer Tenacity Real Estate Group sold off a Macau, China office and retail building to an undisclosed buyer in a $125 million deal. The two partnered to acquire the property in 2006 and pumped $10 million in upkeep into it over the five-year hold. Specifics of the transaction were not revealed.
Chicago-based lower middle market investment firm Winona Capital Management put $13 million into Circa Inc., a buyer of jewelry and watches. Circa was advised by Consensus Advisors in the transaction. Specifics of the deal were not publicized.
Waud Capital Partners’ Acadia Healthcare Co. has a deal in place with NYSE-listed PHC Inc. to merge in a deal that will result in the majority of the merged company’s shares being controlled by Acadia backers. Later, Acadia will move the company to the Nasdaq market. In connection with the transaction, Jefferies & Company, Inc. acted as exclusive financial advisor and Arent Fox LLP acted as legal advisor to PHC. Kirkland & Ellis LLP served as legal advisor to Acadia and Jefferies Finance LLC provided financing commitments to Acadia to support the transaction.
Morgan Stanley Private Equity said Tuesday that it has bought EmployBridge Holding Co. Financial terms weren't announced. Atlanta-based EmployBridge, which operates under the ResourceMFG, ProLogistix and ProDrivers brands, provides temporary staff for the specialty manufacturing, warehousing/logistics and transportation sectors.
New York-based private equity firm American Securities has completed a majority investment in SpecialtyCare, a provider of outsourced perfusion, clinical technician, minimally invasive surgical support services. Terms of the deal were kept under wraps. Five-year-old SpecialtyCare is based in Nashville. Equity for the deal was provided by American Securities Partners V, L.P.
Dutch animal feed group Nutreco is readying a bid for French-based rival Provimi, Reuters reported, citing Dutch media accounts. Provimi is currently owned by British private equity group Permira. The Dutch newspaper Het Financieele Dagblad reported that a bid would be at least 1.4 billion euros ($1.98 billion). (Reuters) – Dutch animal feed group Nutreco […]
Private equity investment firm Welsh Carson Anderson & Stowe has inked a stake in GlobalCollect, a provider of local e-payment services. The firm is buying a majority stake from growth equity firm General Atlantic. The terms of the transaction were not disclosed.
Nestle Health Science, a subsidiary of Nestle SA, will buy specialty pharmaceutical and diagnostic company Prometheus Laboratories Inc. for an undisclosed amount, the company announced Tuesday. Prometheus is focused on developing science-based nutritional solutions for medical conditions. The company had raised funding from investors including DLJ Merchant Banking Partners, SPVC, Sprout Group, Apax Partners, Pamlico Capital and Brentwood Venture Capital.
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