(Reuters) – Virgin Active, the British health and fitness chain, has met a series of private equity suitors over a possible sale of the business that could net over 1 billion pounds ($1.53 billion), The Sunday Telegraph reported. The newspaper said the 187-club firm, 76 percent owned by Richard Branson’s Virgin Group, is in the […]
(Reuters) – Clorox Co (CLX.N) has gotten more than 12 preliminary bids for its STP and Armor All auto-care brands, Bloomberg news reported on Friday. Clorox, which said earlier this year it would explore options for the auto care business, could not be immediately reached for comment. The company is asking $750 million for the […]
American Standard Brands, a portfolio company of Sun Capital Partners, has acquired Safety Tubs LLC, a maker of walk-in bathtubs for those with limited mobility. No financial terms were disclosed. Safety Tubs was represented on the deal by Cross Keys Capital.
LONDON (Reuters) – Royal Bank of Scotland (RBS.L) is in exclusive talks with Advent International and Bain Capital over the sale of its payment-processing unit WorldPay, two people familiar with the matter said on Friday. The private equity duo have about a week’s exclusivity to finalise a deal for the business, which handles about half […]
Yesterday I reported that the auction for medical outsourcer Executive Health Resources was coming down to strategics, but only knew one their identities (Ingenix). Now we've got the rest of them (drum roll please!)... MedAssets, McKesson and 3M, along with Ingenix, are vying for Executive Health, sources say. MedAssets, of Atlanta, is being backed by a private equity firm, two sources say, with one pointing to Apax Partners. MedAssets has other ties to the PE world, with Parthenon Capital owning roughly 9%, according to an April proxy filing.
Pat Haden is leaving private equity firm Riordan, Lewis & Haden after 23 years, to become athletic director at his alma matter, the University of Southern California. J. Christopher Lewis, co-founder and managing partner of RLH, says Haden had been courted by USC for only a short time. Haden, 57, reportedly turned down the offer twice before discussing the position with Lewis last Sunday. "This all happened very quickly," Lewis says. Haden, a partner at Riordan, starts at USC on Aug. 3. He will remain an investor in RLH funds and stay on the board of Apothecary Shops. He is expected to remain close to RLH, Lewis says. "But you have to be respectful that he will have a full time position that is very demanding and very high profile," he says.
Mason Wells has completed its acquisition of Appleton's Performance Packaging operations. The deal was valued at around $58 million. The newly-independent company will be named NEX Performance Films Inc., and will make single and multilayer polyethylene films.
(Reuters) – Private equity owners of New Zealand’s Yellow Pages Group have launched a sale process for the business, two sources familiar with the deal said on Friday, in a sale media reports say could be worth around $700 million. An information memorandum has been sent to potential buyers, including large private equity firms and […]
(Reuters) – UK-based Metals Exploration’s (MTL.L) key shareholder offered to take it private for about 35.8 million pounds ($54.6 million) in cash, in a bid to control the mining firm’s gold and molybdenum project in Philippines. The offer price of 13 pence for each share in the Western Pacific Rim-focused company represents a premium of […]
HONG KONG/MANILA (Reuters) – Universal Robina Corp (URC.PS) and a consortium comprising the Campos family and Century Pacific Group of Companies have been shortlisted by Philippine conglomerate San Miguel Corp (SMC.PS) to buy a stake in its Pure Foods (PF.PS) unit, sources told Reuters on Friday. San Miguel Pure Foods Co Inc has a market […]