With at least three big restaurant chains changing hands of late, the appetite for retail food names appears strong. It’s a world of varying purchase price multiples and some interesting ways to work around some of the loftier ones, at least in one case.
3 min read · 02 June 2014
The April listing of FS Investment Corporation on the New York Stock Exchange didn’t make a huge splash in the business press. But over time the listing of the formerly nontraded BDC could prove to be an influential development in leveraged finance.
4 min read · 02 June 2014
1 min read · 02 June 2014
2 min read · 02 June 2014
2 min read · 02 June 2014
2 min read · 02 June 2014
1 min read · 02 June 2014
Ontario Teachers’ Pension Plan has partnered with U.S. private equity firm AEA Investors and Fitness Capital Partners in the purchase of 24 Hour Fitness USA Inc. The seller was U.S. private equity firm Forstmann Little & Co, which bought the company for US$1.6 billion in 2005. Financial terms of this sale were not disclosed. Based in San Ramon, California, 24 Hour Fitness operates a network of health clubs, serving 4 million members in more than 400 clubs across the United States. Concurrent with the acquisition, the company announced that Mark Smith has been named its new CEO, and that Frank Napolitano has been named its new president.
2 min read · 30 May 2014
Three longtime banks for private equity firm Kohlberg Kravis Roberts & Co have snubbed a request for a $725 million buyout loan over concerns it is too risky to pass muster with U.S. regulators, sources familiar with the situation said.
3 min read · 30 May 2014
U.S. private equity firm Golden Gate Capital has closed its take-private acquisition of Canada Fluorspar Inc. While no financial terms were disclosed, several sources have estimated the acquisition price to be around $39 million. Cormark served as an advisor on the transaction. Based in St. John’s, Newfoundland, Canada Fluorspar is a specialty mineral resource company engaged in the development of fluorspar deposits located in Atlantic Canada. Update: The company will continue to be led by its current management team.
3 min read · 30 May 2014
