Carlyle seeks $15 billion for its seventh U.S. buyout fund: Bloomberg

Private equity firm Carlyle Group LP is looking to raise $15 billion for its next U.S. buyout fund, Bloomberg reported on Monday, citing people familiar with the matter. The fund, the firm’s seventh for the United States, is part of Carlyle’s aim to raise $100 billion from 2016 to 2019, Bloomberg reported. Carlyle’s $15 billion fund could be the largest pool ever focused on buyouts in the U.S. region, Bloomberg reported, as private equity firms are raising ever-bigger pools of capital to provide returns to investors amid near-zero interest rates. The firm gathered $13 billion for its sixth U.S. buyout fund in 2013. Carlyle was not immediately available for comment when contacted by Reuters. Photo: A general view of the lobby outside of the Carlyle Group offices in Washington, May 3, 2012.  Reuters/Jonathan Ernst

Rent-A-Center shunned takeover interest from HIG, Lone Star, say sources: Reuters

Rent-A-Center Inc (RCII.O) snubbed takeover interest from private equity firms HIG Capital and Lone Star Funds before it turned down an offer of $800 million from buyout firm Vintage Capital this month, people familiar with the matter said on Monday. HIG and Lone Star did not offer a price for the company, but each said it would pay a premium for the business, the sources said. They asked not to be identified because the expressions of interest in an acquisition were not public. HIG and Lone Star did not immediately return calls seeking comment. Rent-A-Center declined to comment. The company said on July 11 it had rejected a $15 per share offer from Vintage, first reported by Reuters, in order to focus on its “strategic plan to restore growth and improve profitability.” Rent-A-Center rents out furniture and electronics and also allows customers the ability to own the products
Continue reading "Rent-A-Center shunned takeover interest from HIG, Lone Star, say sources: Reuters"

Great Hill sells Momondo for about $550 mln

Great Hill Partners has sold London and Copenhagen-based Momondo Group, an operator of flight and hotel comparison platforms, for about $550 million in cash. The buyer was The Priceline Group Inc. PRESS RELEASE BOSTON, July 24, 2017 /PRNewswire/ — Great Hill Partners has finalized the previously disclosed sale of Momondo Group Ltd to The Priceline Group Inc. (NASDAQ: PCLN) for approximately $550 million in cash. Headquartered in London and Copenhagen, Momondo Group operates leading global flight and hotel comparison platforms under its two brands, Momondo and Cheapflights.
Michael Kumin, Managing Partner at Great Hill Partners, commented: “We are proud to have partnered with Momondo Group to help build one of the most dynamic companies in the global online travel market, serving a loyal base of consumers across the globe. We would like to thank Hugo Burge and the entire management team for their outstanding execution in rapidly growing the
Continue reading "Great Hill sells Momondo for about $550 mln"

Gurnet Partner closes take-private acquisition of Innocoll

Gurnet Point has acquired Innocoll for about $209 million in a take-private deal. As a result of the transaction, Innocoll will no longer trade on the NASDAQ. Innocoll is a pharmaceutical and medical device company. PRESS RELEASE CAMBRIDGE, Mass. & ATHLONE, Ireland–(BUSINESS WIRE)–Gurnet Point L.P., a healthcare investment fund, and Innocoll Holdings plc (NASDAQ:INNL), a global pharmaceutical and medical device company, today announced that Gurnet Point has completed its acquisition of Innocoll. As a result, Innocoll’s shares (NASDAQ:INNL) will no longer be traded on the NASDAQ Global Select Market as of today. Under the terms of the agreement, Gurnet Point will acquire Innocoll for $1.75 per share in cash, and up to $4.90 in cash from a contingent value right (CVR), for a total potential per share value of up to $6.65 or up to approximately $209 million in aggregate.
As previously announced, Gurnet Point
Continue reading "Gurnet Partner closes take-private acquisition of Innocoll"

Riverside backs home care service franchisor ComforCare

The Riverside Company has made an undisclosed investment in ComforCare Health Care Holdings LLC. Jones Day provided legal counsel on the transaction while Saratoga Investment Corp. provided financing and West Monroe provided IT diligence. Based in Bloomfield Hills, Michigan, ComForCare is a home care service franchisor. PRESS RELEASE The Riverside Company has invested in Bloomfield Hills, Michigan based ComForCare Health Care Holdings, LLC (ComForCare), the franchisor of ComForCare Home Care and At Your Side Home Care home care agencies. With 196 locations in 34 states and three Canadian provinces, ComForCare franchisees provide non-medical and private duty nursing services to the elderly, physically handicapped, and injured all in the comfort of their homes. They also offer supplemental staffing services to healthcare facilities. “ComForCare provides tremendous value for its customers,” said Riverside Managing Partner Loren Schlachet. “Home care allows seniors and others with limited mobility to stay in their homes, which is
Continue reading "Riverside backs home care service franchisor ComforCare"