Listed Swedish private equity firm has completed a EUR 50m (SEK 473m) recapitalisation of its Finland-headquartered piping systems portfolio company GS-Hydro. Cash-out refinancings were common in the 12-18 months preceding the onset of the liquidity crisis in August 2007. Debt was plentiful and strong performance from portfolio companies enabled private equity firms to retain ownership […]
Summer Street Capital Partners has acquired Willcare, a Buffalo, N.Y.-based provider of home healthcare services in parts of New York and Ohio. No financial terms were disclosed, except that Summer Street typically invests between $5 million and $30 million in companies with between $20 million and $100 million in annual revenue. PRESS RELEASE […]
HONG KONG (Reuters) – As a large Chinese corporate still in private hands, Huawei Technologies has a reputation of keeping information tightly under wraps. Bidders for a Huawei unit are discovering just how tight that lid can be. Huawei HWT.UL hired Morgan Stanley (MS.N: Quote, Profile, Research, Stock Buzz) in May to sell a majority […]
The third quarter isn’t officially over, but we here at PE Hub believe that Q4 effectively starts after Labor Day and wraps up around Thanksgiving. Things have been plenty slow for July and August, but according to an informal survey of investor expectations, the fourth quarter will end up on par with the first half […]
Deja Vu Edition: More IPO bashing, more aging media, more Blackstone, and more PE investing in financials. And of course, my favorite take on the fake death of the real Steve Jobs. Reuters: After my IPO bashing today, more bad news. The exchanges are feeling the pain from not just a lack of new issuances, […]
*WSJ, CNBC, FT say it isn’t; but perhaps the blogosphere is not so sure? Dow Jones today published a list of private equity firms interested in bidding for Lehman Brothers’ wealth management arm, Neuberger Berman, worth around $10 billion. The Journal’s list included obvious suspects like KKR, Bain Capital and TPG. The FT counted Hellman […]
Financial buyers may be somewhat subdued in the current uncertain credit markets but deals are still being done. This morning US private equity house Clayton, Dubilier & Rice succeeded in picking up the industrial testing division of UK mid cap engineer Bodycote. Clayton, Dubilier & Rice won what looks like quite a competitive process, seeing […]
No one’s selling today unless they have to, and in traditional media, some of them just have to, a buyout pro told me. There isn’t a lot of happy news for print media companies this summer. Cox Communications is trying to sell some of its newspapers, which PE firms are interested in, one source says, […]
These days, the word “big” is a relative term for PE professionals. In a semi-regular column, I’ll explore how the some of the biggest (or at least most interesting) deals are getting done.Today’s Big Deal (Kind Of) goes to Sentinel Capital Partners, for its purchase of Mobile Dental Services. My pick is a bit of […]
It’s the numbers edition: One bankruptcy, $3 billion in assets for sale, $900 million in fresh capital, two troubled mattress companies, many a unitranche loan, and one train stopped dead in its tracks. Oops: Cadence Innovations is bankrupt. Again. Yucaipa was the lone wolf PE backer among the handful of hedge funds that brought the […]