Private Equity
Anika Therapeutics Inc. (NASDAQ:ANIK) hired Jeffery S. Thompson as chairman and chief executive officer of Advanced Bio-Technologies Inc. Advanced Bio-Technologies is a Georgia-based biopharmaceutical company specializing in the treatment and management of scars. Thompson is an operating partner at Tampa, Fla.-based HealthEdge Investment Partners, which is a private equity firm focused on the health care industry.
4 min read · 21 January 2011
AXA Private Equity SA agreed to acquire a majority stake in Novacap SAS in a transaction that puts the Lyon, France-based chemicals company’s enterprise value at about EUR240 million. The seller is Boston, Mass.-based Bain Capital LLC. The transaction has the support of Novacap’s management team, which is headed by CEO Pierre Luzeau.
4 min read · 21 January 2011
NovaMed Inc. (NASDAQ:NOVA) signed a definitive agreement to be acquired by an affiliate of Surgery Center Holdings Inc. in a transaction valued at about $214 million. The price includes debt assumption or repayment of about $105 million. Novamed shareholders will receive $13.25 a share.Surgery Partners is an affiliate of HIG Capital LLC of Miami, Fla. NovaMed is a Chicago, Ill.-based operator of ambulatory surgery centers.
7 min read · 21 January 2011
Riverstone/Carlyle Global Energy and Power Funds said an additional investment was made in Three Rivers Natural Resource Holdings LLC. Details of the investment were not disclosed. Three Rivers Natural Resource is a Austin, Texas-based upstream oil & gas company. Riverstone/Carlyle Global Energy and Power Funds is managed by Riverstone Holdings LLC of New York. Three Rivers also acquired assets in the Permian Basin of West Texas and Southeast New Mexico from Samson Resources and its affiliates.
2 min read · 21 January 2011
Warner Music Group is looking for potential buyers and Goldman Sachs is advising on the process, a source familiar with the matter told Reuters said on Thursday. New York-based Warner is the world's No. 3 music company and is the home for the band, Green Day. The New York Times reported the decision to hire Goldman came after a number of potential buyers including Kohlberg Kravis Roberts & Co. approached Warner Music's to express an interest in buying the company.
2 min read · 21 January 2011
Carlyle Group received an expression of interest for its stake in a Taiwan cable TV firm, Reuters reported. Two separate sources said Carlyle is not likely to sell what is a profitable.Taiwan's Eastern Media International is interested in picking up the Washington, DC-based shop’s estimated 62 percent stake in ETTV, a person with direct knowledge of the matter told Reuters.
2 min read · 21 January 2011
Private equity firms in Britain expect to pay significantly lower prices for assets in 2011 according to a survey by Grant Thornton, Reuters reported. The survey captured the views of 100 private equity executives in Britain. The group sees lower prices in most sectors as a result of competition to buy businesses receded. The study indicated that health care and high technology are the only industries that will buck the trend, with valuation for health care companies expected to remain flat. The valuation for high-tech companies is expected to increase, according o the survey.
2 min read · 20 January 2011
Wilbur Ross plans to take International Automotive Components Group public this year and hired Bank of America Corp. and JPMorgan Chase & Co. to run the process, two people familiar with the matter told Reuters on Wednesday. IAC is a global supplier of automotive components and systems.
2 min read · 20 January 2011
Apollo Investment Corp. plans to raise $150 million through a private placement of convertible notes and the firm plans to use the capital to fund investments and repay debt, Reuters reported. Apollo Investments will sell senior unsecured convertible notes due 2016. Initial purchasers of these notes will have an option to purchase up to $22.5 million more of the notes’ principal.
1 min read · 20 January 2011
Apollo Management of New York and CVC Capital Partners Ltd. of London received European Union regulatory approval to acquire Brit Insurance, Reuters reported. The European Commission said the transaction did not raise any competition concerns because of their very small business overlaps. Brit Insurance accepted a buyout offer from the two private equity shops in October and the deal values the insurer at up to 888 million pounds ($1.4 billion).
1 min read · 20 January 2011
