Banks are becoming increasingly selective about which highly-leveraged U.S. company loans they are willing to underwrite as they start to heed regulators’ warnings to curb looser lending practices, sister news service Thomson Reuters LPC reported.
4 min read · 16 January 2014
Oaktree Capital Group LLC is working on the launch of two business development companies (BDCs), joining other alternative asset managers in an area that has seen explosive growth over the past few years, according to two people familiar with the matter, sister news service Reuters reported.
3 min read · 16 January 2014
Apollo Global Management LLC will buy CEC Entertainment Inc, the parent of the Chuck E Cheese restaurant chain, for about $948 million, adding to a portfolio that includes companies ranging from cruise ship operators to casinos, sister news service Reuters reported.
2 min read · 16 January 2014
Johnson & Johnson said on Thursday it will sell its ortho clinical diagnostics unit to private equity firm Carlyle Group for $4.15 billion, a year after announcing it was considering spinning off or selling the slow-growing business, sister news service Reuters reported.
1 min read · 16 January 2014
Private equity firm Carlyle Group LP is readying a $3.7 billion financing that will back its purchase of Johnson & Johnson Inc’s ortho clinical diagnostics unit, sources told sister news service Thomson Reuters LPC.
2 min read · 15 January 2014
Emerald Expositions Inc, a portfolio company of Canadian private equity firm Onex Corp, has completed its previously-announced buy of trade show specialist George Little Management LLC (GLM) for US$335 million. The seller was U.S. private equity firm Providence Equity Partners, which acquired the White Plains, New York-based GLM in 2011. Onex Partners III invested US$140 million in the acquisition, with the balance funded by Emerald Expositions with debt. Onex bought the San Juan Capistrano, Calif.-based company, an operator of business-to-business trade shows and conferences, for US$950 million in 2013.
3 min read · 15 January 2014
The sale of Europe’s second-largest card payment services company Nets Holding is gathering pace as a number of private equity firms and one trade buyer made it through to the next round of an auction, banking sources told sister news service Thomson Reuters LPC.
2 min read · 15 January 2014
The middle market is ripe for a more fruitful M&A environment in 2014, lenders to mid-sized U.S. businesses told sister news service Thomson Reuters LPC.
4 min read · 15 January 2014
Canada kicked off an auction of prized wireless airwaves on Tuesday, but the last-minute withdrawal of main upstart Wind Mobile a day earlier suggests the country's largest phone companies could obtain the limited resource more cheaply than previously thought, reports Reuters. Bidders include Rogers, Bell and Telus, which together control about 90 percent of the Canadian wireless market. Besides Wind Mobile parent Globalive, a string of other contenders have also pulled out along the way, including private equity firms Birch Hill Equity Partners Management Inc and Catalyst Capital Group Inc, Mobilicity's single largest debtholder.
3 min read · 14 January 2014
European buyout house Motion Equity Partners has secured new funding from investor HarbourVest, giving the private equity group another four years to try to make money out of its portfolio, a source with knowledge of the matter told sister news service Reuters.
2 min read · 14 January 2014
