Canadian private equity firm Penfund has completed a $70 million second lien credit facility extended to its portfolio company GoodLife Fitness Centres Inc. The proceeds of the facility, together with the proceeds of a $175 million first lien term and revolver facility provided by a syndicate of banks, will be used to refinance the company's existing debt. Headquartered in London, Ontario, GoodLife manages over 335 fitness clubs located across Canada and currently has more than a million members. Its other backers include Manulife Capital. Based in Toronto, Penfund specializes in providing junior capital to mid-market businesses in North America.
3 min read · 06 April 2015
Enterprise software company Informatica Corp has received offers from two private equity consortia and is negotiating a sale that could value it at between $5 billion and $6 billion, people familiar with the matter told Reuters.
2 min read · 06 April 2015
Wilson Human Capital Group (HCG), a portfolio company of U.S. private equity firm Frontier Capital, has purchased Head2Head Inc, a provider of recruitment solutions with headquarters in Toronto. The deal's financial terms were not published. WilsonHCG, a recruitment process outsourcing and human capital consulting business, said the acquisition will increase its presence in Canada and strengthen its service offerings to customers. Based in Tampa, Florida, WilsonHCG secured an investment from Frontier Capital in 2013.
5 min read · 06 April 2015
JENSEN HUGHES Inc, a portfolio company of U.S. private equity firm Huron Capital Partners, has agreed to merge with Randal Brown & Associates Engineering Ltd (RBA), a Toronto-based life safety and fire protection engineering business. The financial details of the transaction were not disclosed. JENSEN HUGHES said the combination with RBA will enhance its position as a provider of specialty engineering and consulting services in numerous vertical markets. Based in Baltimore, Maryland, the company was recapitalized by Huron Capital in May 2011.
3 min read · 06 April 2015
Here’s a quick guide to our coverage of Q1 2015 deals, exits and fundraising.
1 min read · 06 April 2015
How mid-market buyout firms are contending with historically high prices has turned into one of the year’s biggest themes. Recently I caught up with Steve Burns, a senior partner at Charlottesville, Va.-based mid-market shop Quad-C, to find out how firm is coping.
5 min read · 06 April 2015
Private equity-owned online car rental company CarTrawler and ports services company HES Beheer are both considering raising additional leveraged loans to finance potential acquisitions, banking sources told Reuters on Thursday.
1 min read · 02 April 2015
Indian private equity fund India Value Fund Advisors (IVFA) said it expected to conclude fundraising in the next 90 days for an up $700 million sector-agnostic fund that would focus on mid-sized companies, Reuters reported.
1 min read · 02 April 2015
TPG Capital was sued on Thursday by its former head of public affairs, who accused the private equity giant of ignoring his warnings that the firm may have violated securities regulations and defrauded investors out of millions of dollars as a result, Reuters reported.
4 min read · 02 April 2015
Cerberus Capital Management LP is seeking more than $3 billion for its latest flagship private equity fund to invest in distressed assets such as non-performing loans and ailing companies that need to be restructured, people familiar with the matter told Reuters.
3 min read · 02 April 2015
