Rauner Rocks the House in Philly
Bruce Rauner turned lunch into a pep rally for the buyouts business Friday at the Wharton Private Equity & Venture Capital Conference. He was passionate, he was funny, he was profane. He was a hoot.
NXT Capital Provides Financing for Audax Deal
NXT Capital announced Monday that it has provided a senior credit facility to fund Audax Group‘s acquisition of Advanced Dermatology & Cosmetic Surgery. NXT Capital was the sole lead arranger, sole bookrunner and administrative agent for the deal. Terms were not released. Audax is a middle-market private equity shop. PRESS RELEASE NXT Capital today announced...
Foreign Issues, Not Domestic Policy, Highlights PE Pros’ Concerns at Wharton
PE pros aren’t terribly bullish outside the US nowadays. If the next problem to confront private equity doesn’t stem from a European currency collapse, asset class professionals seem confident their new big burden will come from somewhere far away from Washington. “We could see a little more pain in the short-term” in Europe, Carlyle managing...
Ex-BofA Banker’s fund Eyes Bank Mutiara
A private equity fund launched by a former Bank of America Corp executive, has expressed interest in buying Indonesia’s state-owned PT Bank Mutiara for about $750 million, writes Reuters. The fund, Yawadwipa, formed by ex-Bank of America Corp mergers and acquisitions banker Chad Holm last year, plans to raise $1 billion to invest in Indonesia....
Spotless opens books to PEP
Australian cleaning services company Spotless Group bowed to shareholder pressure and has agreed to open its books to private equity suitor Pacific Equity Partners, but maintained it would not back a takeover offer below A$743 million ($800.43 million), writes Reuters. Pacific Equity Partners in a statement said it still believed its A$711 million offer was...
Greenbriar’s PetroChoice Acquisition Backed by SSLP
The Senior Secured Loan Program, jointly managed by Ares Capital Corporation and an affiliate of GE Capital, has closed a $130 million senior secured term loan to support the acquisition of PetroChoice by Greenbriar Equity Group. PetroChoice, headquartered in Riddlesburg, is a distributor of consumable commercial, industrial and passenger vehicle lubricants in the Mid-Atlantic and...
SS&C may scupper TPG’s GlobeOp bid
Financial software provider SS&C Technologies Holdings is eyeing GlobeOp Financial Services and has urged the hedge fund administrator’s shareholders not to accept a 508 million pound ($802 million) takeover offer from TPG Capital, writes Reuters. GlobeOp’s management said it would recommend TPG’s cash offer to its shareholders, the first step in the US buyout group’s...
Sterling Infosystems Buys Axciom Info Security Services
Sterling Infosystems, which is backed by Calera Capital, has acquired Acxiom Information Security Services. The seller was Acxiom Corp. Financial terms weren't announced. Acxiom Information Security is a background screening company.
Centerbridge Partners Acquires Aquilex
Aquilex Holdings said Friday that it has financially restructured its debt and is now majority owned by Centerbridge Partners. Also, Aquilex CEO and President Bill Varner is retiring while Donovan Boyd was named chairman of the board. Rothschild provided financial advice to Aquilex, while Alvarez & Marsal was restructuring advisor. Aquilex provides maintenance, repair and...
peHUB Second Opinion 2.3
Some fresh links to go with your afternoon coffee, including a look at Eli Manning and Tom Brady off the field.
Thompson Street Capital Raises $350 Mln for Fund III
Thompson Street Capital Partners announced Friday that they closed their third fund at $350 million. Investors for TSCP III mainly came from their second fund. St. Louis-based Thompson Street invests in service, manufacturing and distribution busineses.
