Private Equity
Summit Business Media had its pre-arranged reorganization plan confirmed in the U.S. Bankruptcy Court for the District of Delaware and that the company will emerge from the bankruptcy process in two weeks after eliminating $140 in debt. The B2B publisher declared bankruptcy on Jan. 25. At that point, it was majority-owned by Wind Point Partners.
2 min read · 07 May 2011
Private equity firm Apax Partners has extended the offer it is making for Epicor Software Corp., which would have been set to expire at the end of the day Friday, May 6. The PE firm is offering an additional week to Epicor, which will coincide with the expected closing of the related debt financing transactions. Apax previously announced plans to buy both Epicor and business management software solutions company Activant and merge the two.
7 min read · 06 May 2011
NovaMed shares will cease to trade on the Nasdaq today; the company’s merger with Surgery Center Holdings has been completed. HIG Capital owns Surgery Center Holdings, which operates free-standing ambulatory surgical centers in partnership with physicians.
2 min read · 06 May 2011
Crescent Financial Partners, the Los Angeles private equity merchant banking firm that caters to early-stage and middle market clients, will add Russ Regan to its advisory board. He has worked on Academy Award nominated projects and with UNI Records and 20th Century Records.
2 min read · 06 May 2011
An anonymous swipe between investors earned chuckles in a story my Reuters colleagues recently did on Facebook and its coveted secondary market shares. "By the time T. Rowe Price is investing, you know it's too late," one wiseguy cracked, suggesting the firm isn’t savvy enough to buy into a good trend early. I couldn’t help but think the same thing reading that the New York Times will, in a yet-well-calculated move, launch a daily deals service to connect its affluent readers with its high-end advertisers....
3 min read · 06 May 2011
Happy Anniversary! Fears of another flash crash linger, while futures are nice enough to point up on the one year anny of the stock debacle Getting Paddled: Finance pros duke it out at the ping pong table Bidding Big: JC Flowers looks to buy Compagnie Europeene de Prevoyance
1 min read · 06 May 2011
Linsalata Capital Partners recapitalized its NeuroTherm Inc. in partnership with the firm’s management. Babson Capital Management provided $11.3 million in mezzanine debt financing and $1.5 million in the form of an equity investment.
2 min read · 05 May 2011
General Fusion is having a happy Cinco de Mayo. The utility-scale fusion power company reeled in $19.5 million in a Series B round that included investors Cenovus Energy, through its Environmental Opportunity Fund, Bezos Expeditions, the personal investment company of Jeff Bezos, Chrysalix Energy Venture Capital, GrowthWorks, Braemar Energy Ventures, Entrepreneurs Fund, Business Development Bank of Canada (BDC), and SET Venture Partners.
3 min read · 05 May 2011
Sun Capital Partners has exited its Big 10 Tires investment, selling it to Pep Boys, the automotive aftermarket service and retail chain that itself considered selling before failing to get a sufficient bid. The private equity firm acquired Big 10 through an affiliate in 2006. Morgan, Lewis & Bockius LLP acted as legal advisor to the sellers in connection with the transaction.
3 min read · 05 May 2011
Black Diamond Capital Management LLC, the alternative asset management firm based in Connecticut, has raised a $800 million third fund. The fund will execute the same control distressed/private equity strategy initiated with the establishment of Black Diamond's 2003 vintage fund.
2 min read · 05 May 2011
