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.
Evo Payments International, which is backed by Madison Dearborn Partners, is up for sale, Bloomberg is reporting. Evo is working with Deutsche Bank AG and JPMorgan Chase & Co to explore strategic options, which could include an IPO and a sale, the story said. The process has drawn interest from Vantiv Inc, Bloomberg said. A sale could value the company at $2 billion, the story said.
1 min read · 27 March 2017
3 min read · 23 March 2017
Oak Hill Capital Partners said March 23 that it agreed to buy Checkers Drive-In Restaurants Inc for about $525 million. Sentinel Capital Partners was the seller. Checkers, which operates under the Checkers and Rally’s banners, is a leading operator and franchisor of drive-thru hamburger quick-service restaurants. Piper Jaffray and North Point Advisors acted as financial advisors to Checkers in the transaction. Kirkland & Ellis LLP is serving as legal counsel to the Checkers. Jefferies LLC acted as financial advisor to Oak Hill in the transaction. Paul, Weiss, Rifkind, Wharton & Garrison LLP is serving as legal counsel to Oak Hill.
4 min read · 23 March 2017
Oak Hill Capital Partners is buying Checkers Drive-In Restaurants for $525 million in a deal that is expected to be announced Thursday, the Wall Street Journal reported. Tampa, Fla.-based Checkers, which had about $830 million in system wide sales last year, has been owned by Sentinel Capital Partners since 2014, the WSJ said. Sentinel put Checkers up for sale in January; Piper Jaffray Cos advised on the auction, according to press reports.
1 min read · 23 March 2017
WNS has acquired HealthHelp, a portfolio company of MTS Health Investors, for $95 million. HealthHelp, of Houston, provides specialty benefits management. Cain Brothers provided financial advice to WNS.
2 min read · 23 March 2017
KKR said March 23 that it has completed its tender offer for Calsonic Kansei Corp, buying 95.21 percent of existing common shares. Nissan Motor Co Ltd tendered about 41 percent of its Calsonic shares. In November, KKR said it would buy Nissan Motor-backed auto parts maker Calsonic Kansei for up to 498.3 billion yen ($4.5 billion), Reuters reported.
3 min read · 23 March 2017
Golden Gate Capital said March 22 that it has acquired Cole-Palmer. Financial terms weren’t announced. GTCR was the seller. Cole-Palmer, of Vernon Hills, Illinois, designs, makes and distributes specialty lab equipment with particular expertise in fluid-handling, test and measurement, and electrochemistry. Morgan Stanley served as financial advisor to Golden Gate.
3 min read · 22 March 2017
KPS Capital Partners LP said March 21 that it agreed to buy WHA Holding SAS and its affiliates (“Winoa”) from a consortium of investors. Financial terms weren’t announced. Winoa, of Le Cheylas, France, makes steel abrasives across the transportation, equipment, energy and construction end-markets. GSO Capital Partners LP is providing financing. DC Advisory served as financial advisor to KPS and its affiliates. Gide Loyrette Nouel A.A.R.P.I and Paul, Weiss, Rifkind, Wharton and Garrison LLP served as legal counsel to KPS and its affiliates.
3 min read · 22 March 2017
Summit Partners has invested in Ascentis Corp through a majority recapitalization. Financial terms weren’t announced. Palm Ventures is retaining a minority stake in Ascentis, while Catalyst Investors is exiting. Ascentis offers a suite of human resources, benefits, payroll, timekeeping and talent management products to more than 1,000 customers throughout the U.S. and Canada.
5 min read · 22 March 2017
Providence Equity Partners LLC is selling the Professional Association of Diving Instructors for more than $700 million, Dow Jones reported. The buyer is a group of wealthy families and endowments, the story said. PADI is the world's largest diving membership and training organization.
1 min read · 22 March 2017
