Great Hill Partners has committed a $100 million to Credibility Corp., a privately-held company based in Los Angeles. Great Hill Partners has also funded Credibility Corp.'s recent buy of Credit-on-Self division, also known as the Self Awareness Solutions (SAS) operating unit, of D&B. Additional terms of the deal were not announced.
(Reuters) – The Abu Dhabi Investment Authority (ADIA) has agreed to join Morgan Stanley (MS.N) and private equity group 3i in a bid for the high-speed railway linking London with the Channel Tunnel, Abu Dhabi’s National newspaper said. State-owned ADIA, considered the world’s largest sovereign wealth fund, is in the “very early stages” regarding its […]
LONDON (Reuters) – HgCapital is set to buy Italian accounting software firm TeamSystem, three people familiar with the matter said, after beating rival buyout firm Cinven in the final stages of the auction. Seller Bain Capital could get as much as 600 million euros ($783 million), one of the people said. Bain received bids from […]
PARIS (Reuters) – French financial holding firm Eurazeo (EURA.PA) said on Saturday it is in exclusive talks to sell its B&B Hotels chain to U.S. private equity firm the Carlyle Group [CYL.UL]. The negotiations assume an enterprise value for the business of 485 million euros ($633 million), Eurazeo said in a statement. “This short-term negotiating […]
NEW YORK (Reuters) – Blackstone (BX.N), TPG Capital [TPG.UL] and Bain Capital are among private equity firms eyeing a stake in wireless network equipment maker Nokia Siemens Networks, sources familiar with the situation said. Plans to invest in the firm, owned by Nokia (NOK1V.HE) and Siemens (SIEGn.DE), are at an early stage, the sources said. […]
(Reuters) – A group led by former all-star pitcher Nolan Ryan and a minor league baseball team owner made a new bid to buy the bankrupt Texas Rangers in a move that would block an auction for the Major League Baseball team set for next week. The Rangers’ bankruptcy court-appointed chief restructuring officer, William Snyder, […]
Healthcare has seen a spate of PE-backed deals this week, and sector deal volume is expected to keep rising. On Friday, THL Partners said it was buying Intermedix, a provider of emergency billing services, from Parthenon Capital Partners. Water Street Healthcare Partners also announced its purchase of Medical Specialties Distributors. Other recent examples
The Charterhouse Group inked its second sale this year with a deal to sell NewPath Networks Inc. to Crown Castle International. Crown Castle, a Houston cellular tower operator, is buying all of NewPath, including stakes held by Charterhouse, NewPath Chairman Bill Marraccini, and Meritage. The deal is expected to close in roughly 60 days.
(Reuters) Oaktree Capital, a senior debtholder in German aluminum company Almatis, ratcheted up its fight against Almatis’s equity owner, Dubai International Capital, over the best way to restructure the bankrupt company, according to court documents. Oaktree objected to Almatis’ continued use of cash collateral, which companies need to cover operating costs and other expenses while […]
(Reuters) – The auction for Italian business management software group TeamSystem will conclude within weeks, with Sage (SGE.L) heading the field with a bid of up to 650 million euros, people familiar with the matter said. British accountancy-software group Sage is vying with private-equity groups Cinven and HgCapital to buy the business from U.S private equity […]