H.I.G. Capital announced Thursday that it had completed the sale of Securus Technologies to Castle Harlan. Terms of the deal, which closed at the end of May, were not released. Securus, based in Dallas, was formed by H.I.G. in September 2004 through the merger of Evercom Systems and T-Netix. The Company provides detainee communications and information management technology for correctional facilities.
3 min read · 10 November 2011
Vantiv Inc., a payment processor, has filed to raised up to $100 million in an initial public offering, Reuters reported Thursday. The company, owned by Fifth Third Bancorp and buyout firm Advent International, said it planned to list on the New York Stock Exchange or Nasdaq.
1 min read · 10 November 2011
Harvest Partners has completed its acquisition of TruckPro Inc., buying the auto parts distributor from Oaktree Capital Management. Oaktree will continue to hold a “significant ownership stake” in TruckPro, the firms said. Terms of the deal were not released. TruckPro is a distributor of heavy duty aftermarket truck parts and accessories.
3 min read · 09 November 2011
Maranon Capital provided debt financing and an equity co-investment to support the acquisition of Emergency Communications Network Inc. by The Riverside Co. Ormond Beach, Fla.-based Emergency Communications Network provides software-as-a-service products to allow state and county governments communicate warnings, information about natural disasters and other information.
2 min read · 09 November 2011
Henry Kravis, the co-founder of buyout giant Kohlberg Kravis Roberts & Co., said that uncertainty in global markets had created enormous challenges and threats as financial firms, investors and governments face sovereign debt crisis and a slowdown in major economies, Reuters reported Wednesday. Speaking Wednesday, Kravis said that Europe remains the biggest concern for the firm, Reuters wrote.
1 min read · 09 November 2011
Kesa, Europe's third-biggest electrical goods retailer, has become the second firm to announce a withdrawal from the cut-throat British market this week, agreeing to sell its loss-making British chain Comet for just 2 pounds ($3.20), Reuters reported. Hailey Holdings Ltd. and Hailey Acquisitions Ltd., entities advised by private equity firm OpCapita, are buying Comet.
2 min read · 09 November 2011
As it moves away from healthcare investments, Scale Venture Partners has promoted Stacey Curry Bishop to managing director, the firm announced Tuesday. Scale Venture said that it will make no new healthcare investments in ScaleVP Fund III, and will put its full focus toward technology deals. Managing Directors Lou Bock and Mark Brooks, who have led the firm’s healthcare investing since 2000, will remain with ScaleVP to support their portfolio companies. Bishop joined ScaleVP in 1999 and focuses on SaaS and Internet investments.
3 min read · 08 November 2011
Auditors of Australian television network Nine Entertainment Co. have warned that its owner, private equity firm CVC Asia Pacific, may be forced to sell assets to help service A$3.6 billion ($3.7 billion) in debt, Reuters reported, citing the Australian Financial Review. The newspaper reported that the accountants Ernst & Young said there were doubts about Nine's ability to continue as a going concern unless it was able to repay or renegotiate A$975 million of debt due in 2014, Reuters wrote.
2 min read · 08 November 2011
Private equity firm TA Associates has completed its investment in Senior Whole Health, a Cambridge, Mass.-based health plan provider. Terms of the deal were not released. Formed in 2004, Senior Whole Health focuses on individuals who qualify for both Medicare and Medicaid.
4 min read · 08 November 2011
Zynga Inc., the maker of Facebook games Farmville and Mafia Wars, is planning to go ahead with its initial public offering following the Thanksgiving holiday, Reuters reported, citing news from Bloomberg. Zynga had initially planned to price its IPO and have its shares trade the week before Nov. 24, two sources had said in October.
1 min read · 08 November 2011
