Plasco Energy Group., an Ottawa-based converter of waste into renewable energy, has raised $110 million in new equity funding. Ares Management led the round with a $100 million commitment. The company previously raised $135 million in equity funding.
Vestar Capital Partners has agreed to acquire Health Grades Inc. (Nasdaq: HGRD), a a Golden, Colo.-based healthcare ratings organization. The $8.20 per share price represents a 29% premium to yesterday's closing price, and values Health Grades at approximately $294 million.
Sun Capital Partners has acquired the assets of Pace American, a provider of enclosed cargo and auto trailers to the U.S. and Canadian markets. No financial terms were disclosed for the deal, which was done as an Article 9 transaction.
LONDON (Reuters) – Brit Insurance (BRE.L) said Apollo Management had raised its takeover bid to 10.75 pounds a share, valuing it at about 852 million pounds ($1.32 billion) and improving the chances of a successful conclusion to a deal. The head of the Lloyd’s of London insurer said the revised approach from Apollo was a […]
Bloomberg today reported that UnitedHealth Group is in talks to buy Executive Health Resources from ABRY Partners for approximately $1.5 billion. Pretty sure we read that price-tag and buyer somewhere before... Oh yeah, at peHUB last week. In case you missed it (and aren't sick of it yet), peHUB previously reported Executive Health's talks with Ingenix (a health IT unit of UnitedHealth), as well as with other bidders. Bloomberg says that UnitedHealth plans to add Executive Health to Ingenix’s database management and consulting unit.
Thirty-five percent of the year's private euqity deals have been secondary buyouts (aka sponsor-to-sponsor), according to The Wall Street Journal. That's the highest percentage in at least a decade, and doesn't even include today's $850 million sale of Harrington Holdings -- which I'm told produced a 2.7x return for seller Jordan Co., with an IRR in excess of 30 percent. Also Tuesday, BC Partners agreed to sell Picard Surgeles S.A., a France-based frozen food retailer, to Lion Capital LLP. And then there is the apparent Intermedix deal.
Parthenon Capital looks ready to sell Intermedix Corp., a provider of billing and other business process solutions to emergency services providers. An FTC alert suggests that the buyer would be fellow buyout firm THL Partners, although no pricing details were disclosed. Such FTC reports typically mean that the buyer and seller have an agreement in […]
TA Associates has agreed to sell its majority stake in eDreams Group, a Madrid-based online travel agent and issuer of airline tickets, to Permira.
Another day, another big PE deal in the healthcare sector. This time it's The Jordan Co. agreeing to sell Harrington Holdings, operator of Edgepark Medical Supplies, to Clayton, Dublier & Rice and GS Capital Partners for $850 million. Jordan bought a majority stake in the healthcare distributor more than two years ago, when it was still a family-owned business. The families continued to run the business, while Edgewater Funds, a Chicago-based PE shop, also owned a position.
The Riverside Company has acquired Celvitae, a Madrid, Spain-based cord blood bank. No financial terms were disclosed.