European private equity firm AXA Private Equity has bought from Nataxis, a division of French bank BPCE, the majority of its proprietary private equity activities in France for EUR 507 million ($714.6 million). The deal includes the activities of iXEN Partners and NI Partners and those of Initiative & Finance Gestion.
Bain Capital is close to a 1 billion pound ($1.6 billion) deal for the Priory Group, a group of more than 50 hospitals dedicate to mental health, which is most famous for treating celebrities. Bain is expected to enter into a period of negotiations with the owners of the Priory, while also arranging debt financing of up to 500 million pounds. Private equity firms such as Blackstone, Advent International and Cinven Group are reportedly also interested in the Priory.
Sunny Khorana has joined Fifth Street Management LLC as managing director, the company has announced. Khorana previously worked at CIT Group Inc as director of the Sponsor Finance team. Fifth Street Management lends to and invests in small and mid-sized companies in connection with investments by private equity sponsors.
Segulah, a Nordic private equity firm, has bought Scan Coin AB, a Malmo-based automatic coin and bank note processing company. The Ovin family, which has owned Scan Coin since 1986, will retain a 30 percent stake in the company. The other details of the deal were not released.
Boston-based Century Capital Management has just injected an undisclosed amount of capital into Seattle-based business services company Torrent Technologies out of its Century Focused Fund II private equity fund. PRESS RELEASE: Torrent Technologies, Inc. (Torrent) announced today that Century Focused Fund II, a private equity fund sponsored and managed by Century Capital Management, LLC, completed […]
Associated Materials, a Cuyahoga Falls, Oh.-based manufacturer, announced its completed purchase by Hellman & Friedman from former investors Harvest Partners and Investcorp. The deals is reportedly valued at $1.3 billion. PRESS RELEASE: Associated Materials, LLC, a leading, vertically integrated manufacturer and distributor of exterior residential building products in the United States and Canada, announced today […]
JPMorgan Chase reported increased profits today but headcount and compensation at the bank's corporate/PE unit both dropped. Today, JPMorgan Chase reported that third-quarter profits surged 23% to $4.42 billion, or $1.01 a share, compared with $3.55 billion or 82 cents a share for the same time period in 2009. The bank said it added 16,000 workers in the past year, bringing its ranks to almost 237,000 globally.
3M said Wednesday that its closed its $810 million buy of Arizant, of Eden Prairie, Minn., which develops products that keep patients warm in surgical settings. Court Square Capital, a New York PE firm, owned a majority of Arizant since 2004. St. Paul, Minn.-based 3M is a conglomerate that provides everything from post-it notes to dog treats.
TPG Capital said Wednesday that is has formed Petro Harvester Oil & Gas to invest in oil and gas producing properties in North America. Petro Harvester, of Houston, is led by Gareth Roberts, the founder and former CEO of Denbury Resources. Petro Harvester, Wednesday, also inked its first deal with an agreement to buy the long-life oil and gas properties located in Mississippi of Comstock Resources. Financial terms were not announced. TPG is a PE firm.
While mergers may be sizzling, PE-backed U.S. IPOs are not, according to data from Thomson Reuters. There were 26 PE-backed new issues for the first three quarters of 2010, valued at $6.4 billion. The totals are double the seven IPOs that raised $3.2 billion during the first nine months of 2009. However, the number of PE-backed IPOs slowed during third quarter. There were eight new issues that raised about $2 billion, from July to September. This is down from the 11 companies that went public in second quarter (valued at $2.2 billion).