I've been a business reporter for a while. I've covered Wall Street, venture capital and now private equity. I'm always looking for a scoop or something to talk about. I'm the eternal optimist and am still waiting for the Chicago Cubs to win the World Series. Yes, I believe.
Ares Management LP and Leonard Green & Partners LP said June 13 that they have agreed to boost their stakes in Aspen Dental Management Inc. Financial terms weren’t announced. American Securities LLC, which recapitalized Aspen in 2015, is the seller. Aspen provides non-clinical business support services to dental practices in approximately 30 states.
4 min read · 13 June 2017
African Infrastructure Investment Managers said June 13 that it has acquired a 44 per cent stake in Albatros Energy Mali. Financial terms weren’t announced. Other investors include Redox Power Solutions, which will construct and operate the project, and Denmark’s Investment Fund for Developing Countries. Albatros Energy Mali plans to build, own, operate and transfer a 90 megawatt (MW) thermal power station in Kayes, western Mali.
3 min read · 13 June 2017
2 min read · 12 June 2017
Blackstone Group LP is selling San Francisco’s landmark Ferry Building and two other properties, Bloomberg is reporting. The waterfront icon will go up for sale in coming weeks, the story said. Blackstone invested in the Ferry Building with its $39 billion buy of Equity Office Properties Trust in 2007. Blackstone stands to triple its $3.8 billion equity investment with the sale, Bloomberg said.
1 min read · 12 June 2017
Paul S. Amos II, the president of Aflac, has resigned to join a private equity firm effective July 1. Amos is joining Jordan Blanchard Capital LLC as a director, according to the Atlanta Business Chronicle. The Atlanta PE firm will rename itself JBA Capital, the story said. Aflac provides voluntary insurance at the work site.
3 min read · 12 June 2017
Siromed, a recently formed platform company of J.W. Childs Associates LP, has acquired Ascent Medical Group LLC. Ascent Medical, of Florida, is a physician group practice. DLA Piper LLP provided legal counsel to J.W. Childs. McDermott Will & Emery LLP was the attorney for Ascent.
2 min read · 12 June 2017
Carlyle Group is ceding control of nursing home chain, HCR ManorCare, which has defaulted on $380 million in senior loans, according to the New York Post. HCR’s creditors are in advanced talks with HCR’s landlord, Quality Care Properties, about repossessing the chain, the story said. Jim Pagoaga, head of HCR ManorCare’s rehabilitation division since 1998, has also exited recently, the NY Post said.
1 min read · 12 June 2017
4 min read · 12 June 2017
3 min read · 09 June 2017
Pacific Equity Partners and Carlyle Group have agreed to buy iNova Pharmaceuticals for $930 million. Valeant Pharmaceuticals International is the seller. INova, of Australia, provides drugs for weight management, pain management, cardiology as well as cough and cold. Pacific Equity Partners and Carlyle were advised by Gilbert + Tobin, Allier Capital, Credit Suisse, Bank of America Merrill Lynch, UBS and Macquarie Bank.
2 min read · 08 June 2017
